How Your Sandpiper Lakeland Fl Home for Sale Can Compete With Short Sales and Foreclosures?

How Your Sandpiper Lakeland Fl Home for Sale Can Compete With Short Sales and Foreclosures?

Just lately, I had a meeting with a seller in a neighborhood where the market is dominated by short sales and foreclosures. Foreclosures in this neighborhood were for sale rampantly so the seller was anxious and asked how can a Sandpiper Lakeland Fl home for sale compete with foreclosures and short sales.

Primarily, it is important to know that the market value of your Sandpiper Lakeland Fl home for sale is directly influenced by distressed properties in the neighborhood. Also, appraisers now giving close and thoughtful attention to the number of closed sales of distressed homes and also those that are presently listed.

What is a regular seller supposed to do to compete?

Pricing a regular home for sale in Sandpiper Lakeland Fl against short sales and foreclosures is a mix of science and emotion. You have to be able to think both like a seller and also a buyer. It doesn’t really matter how much you think your Sandpiper Lakeland Fl home for sale is worth if the buyer does not agree.

Here are three questions to help guide you in pricing your home for sale in Sandpiper Lakeland Fl:

1. What would make the buyer choose your home over a short sale or foreclosure?

2. Why would the buyer’s lender appraise your Sandpiper Lakeland Fl home for sale higher than a short sale or foreclosure?

3. How much more is your Sandpiper Lakeland Fl home for sale worth than a distressed property?

You may be surprised with your answers. You will find out that your Sandpiper Lakeland Fl home for sale is worth not much more than a foreclosure, even with all the upgrades you add in. Appraisers don’t really care too much about upgrades anymore. If all the recent sales in your area are short sales or foreclosures, then it will greatly affect your home’s value even with equity.

Home buyers now are looking for bargains, that’s why short sales and foreclosures sell. Even if they need a bit of repair, buyers think they will still end up with a good bargain. If your Sandpiper Lakeland Fl home for sale with equity is in good shape and priced within the range of distressed properties, then buyer will most likely choose your home over the short sales and foreclosures.

One very useful tip is to examine comparable sales of short sales and foreclosures in the neighborhood over the past 3 months. Make sure to compare apples to apples. Pay attention to homes with similar square footage to your home for sale, within 10% more or less from your home. Compare homes with similar ages.

Once you get the values of similar homes in your neighborhood, make sure that you price your Sandpiper Lakeland Fl home for sale among distressed homes a little below the market value. This will draw more offers to your property, with prospective buyers trying to outbid one another and eventually bringing your sales price higher in the end.

Of course, the best that you can do is to hire an experienced Sandpiper Lakeland Fl listing agent who will be your partner throughout the selling process.

To get the best tips on how you can sell your Sandpiper Lakeland FL home for sale, call Petra Norris at (863) 619-6918 today or visit http://lakelandfl-shortsaleagent.com/lakeland-florida-short-sale-specialist/ for more information.