Thinking of selling your house? We help a lot of Key West home owners sell their houses. Read on to find out our best advice and what’s involved in selling your house for top dollar.
What’s My Home Worth?Time of year – Real estate in Key West is seasonal, with Summer historically being the slowest months.
Current competition – At any given time, there are only so many Buyers looking for a new home or investment property. If those Buyers have a big selection of houses to look at, it is safe to expect to have fewer showings and fewer offers which will generally result in a lower price.
Current market conditions – Interest rates and consumer confidence affect prices, and while the Key West market remains low on inventory now is a good time to sell. There are people looking for investment property for vacation rentals as well as long term rentals. There has been a break even point as well as some appreciation on properties that are being sold now. This doesn’t pertain to the properties bought around 2006 when the market was at its highest point. We are however seeing an increase in prices.
The foreclosure inventory is not as high as it was. The sale of foreclosures were driving the values down. There have been auctions on these properties after the banks take possession that is bringing the values back up. As the values come back up this helps with the values for appraisals. The appraisals comps are better making your values better.
We have seen sellers ride the market down so now it is your turn to ride the market up and take advantage of pricing your property at the perfect price to sell quickly.
Declutter - maximize the space you have and allow potential Buyers to imagine living in your home. Remove personal items, extra armoires and anything that could distract potential Buyers. Let the potential buyers see the home, not your stuff.
Staging - Make sure every room is staged for optimal viewing. A good REALTOR® will spend time identifying your house’s target Buyer and will guide you to stage your home to reflect how they would want to live in it.
Clean, clean and clean again! The cleaner your house is, the faster it will sell. Buyers will look inside your closets, your kitchen cupboards and your bathroom vanity.
Curb Appeal – How your home looks from the outside will set the tone for how a Buyer feels about your home.
Pricing a house in Key West is both a science and an art. Your REALTOR® will discuss with you the pros and cons of pricing for a bidding war, pricing with the intent to negotiate, and pricing at market value.
A comprehensive marketing campaign for your house should include both traditional and digital marketing.
Photography – Most Buyers will see your home for the first time online, and if the photos don’t capture their attention, they’ll move on to the next house and be lost to you forever. We strongly recommend professional photos. We have a vendor we use that charges a very reasonable price.
For Sale Signs – Buyers often cruise their target neighborhoods in search of their perfect house, so a For Sale sign on the lawn is always recommended.
Open Houses – Depending on your neighborhood and how well the open house has been promoted, you can expect anywhere from 5 to 100 or more people to attend. Great agents will be able to spot the serious and motivated Buyers and will make selling your home their only priority.
Online Marketing - With 92% of Buyers starting their search on the web, being found online is critical! Make sure you’re working with a real estate agent who knows how to use other websites to your and your house’s advantage.
Email Marketing/Social Media – Top REALTORS® promote their listings to other agents via email and have a network of potential Buyers they can reach via Facebook, Twitter, Instagram and email.
Print Marketing – Most agents will print feature sheets for your home so that the potential Buyers who see it will have a takeaway of information and photos. Depending on your REALTOR® and your ideal Buyer, your home might also be promoted with postcards or in real estate magazines.
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