Ponte Vedra Beach Homes for sale at 50% Off! Secrets Revealed…
Ponte Vedra Beach Homes for sale at 50% off don’t exist. Let’s clear that up immediately. There has been a significant drop in the prices of what Ponte Vedra Beach homes were selling for at the peak of the market and our current prices. Maybe that is what those advertisements are referring to.
But as a result of those advertisements I have had 3 clients in the past week say the following:
• “I am from Michigan and homes are selling about 40% of what they are listed. What deal can I get on a Ponte Vedra home?”
• “A home near Palm Beach on the Intracoastal Waterway was on the market at $1.1 million and sold for $450,000. I am looking for that kind of deal in Ponte Vedra.”
• “Homes are down 20% - 30% around the nation. What kind of deal can I get in Ponte Vedra Beach?”
And on a recent listing appointment I had a client say “Why don’t we price it high to see if I can get the price I want. However, let the agents know to submit all offers.” I had to let him know that won’t work.
So can you get a deal on Ponte Vedra Beach real estate? Can you price your Ponte Vedra home high in hopes of getting an offer? The answer to the 2 questions are closely related.
Homes in Ponte Vedra Beach are selling from 90% - 94% of list price depending on the area. (I break this down further by price range and subdivisions for my clients.)
What this means to Ponte Vedra Home Buyers:
You are most likely not going to get that home for 30% below list price. (There is a possibility if that seller is overpriced and decides to accept the reality of the market).The most useful way to use this number is setting the price range of what you are looking for. If you are qualified to look up to $450,000 then you would consider homes up to the $500,000 mark max (10% off of $500,000 is $450,000).
What this means to Ponte Vedra Home Sellers:
You are not going to get an offer when you are overpriced. Contracts are ending up at 90% - 94% of list price. Meaning that homes are not getting offers until they are within 6% - 10% of market value. So overpricing will just lead to your home sitting on the market.
In Summary:
Please note that the percentage of list price that homes sell for is just a “rule of thumb” to use. A market analysis should be performed for any home you are considering making an offer for. You may be able to buy a home below this average if the seller is motivated, the home is overpriced or if your agent is a good negotiator.Please call me at 904-273-0125 or email me at carey@frankelrealtygroup.com if you would like a strong negotiator working for you to find your next home. Posted by Carey Frankel on
Great blog good consumer content. Keep up the good work!
Posted by Mike Wall on Tuesday, June 7th, 2011 at 10:20amLeave A Comment