Woodland Park Home Sold
Posted by Marc Rasmussen on Friday, April 3rd, 2009 at 12:14pm.
My clients approved this post. This home in Woodland Park closed recently for $325,000. This home offered 3 bedrooms, 3.5 bathrooms, 2,985 square foot on a preserve lot. It took us 145 days to get a contract.
If I can help you buy or sell a Sarasota home give me a call at 941.812.6272.
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Share2 Responses to "Woodland Park Home Sold"
Marc Rasmussen wrote:
Todd is right. Homes do sell on average for about 10% of the final asking price. Not the original asking price. On average, homes are selling around 75% of the original asking price.
We knew when we put the house on the market that the listing price was ambitious. Some sellers need a short window for the slim chance of selling their home at an above average price. Because it does happen. Some homes do sell for more than they are worth. It does not happen often but it does happen. However, it is not something that anyone can rely on.
I commend my sellers for pricing their home aggressively after the short stint at a higher price. My sellers are very happy with their decision to sell. They didn't become another expired listing that happens to so many other sellers. My sellers found another great property to buy in Sarasota. They received fair market value for the home in Woodland Park that they sold. Although, less than what they had hoped for they made up the difference in the home that they are purchasing.
Ultimately, it was a win-win situation for everyone. The buyer of this home paid a fair price and is happy about the purchase. The buyers agent received a commission. My sellers were able to downsize, buy another home and become mortgage free. I made a commission on the sale and purchase of their new home. The closings attorney's, state of Florida, utility, inspection, insurance and moving companies all generated some revenue from this transaction.
Just think - everyone involved wouldn't be happy if my client had not priced their home properly.
Todd is right. Homes do sell on average for about 10% of the final asking price. Not the original asking price. On average, homes are selling around 75% of the original asking price.
We knew when we put the house on the market that the listing price was ambitious. Some sellers need a short window for the slim chance of selling their home at an above average price. Because it does happen. Some homes do sell for more than they are worth. It does not happen often but it does happen. However, it is not something that anyone can rely on.
I commend my sellers for pricing their home aggressively after the short stint at a higher price. My sellers are very happy with their decision to sell. They didn't become another expired listing that happens to so many other sellers. My sellers found another great property to buy in Sarasota. They received fair market value for the home in Woodland Park that they sold. Although, less than what they had hoped for they made up the difference in the home that they are purchasing.
Ultimately, it was a win-win situation for everyone. The buyer of this home paid a fair price and is happy about the purchase. The buyers agent received a commission. My sellers were able to downsize, buy another home and become mortgage free. I made a commission on the sale and purchase of their new home. The closings attorney's, state of Florida, utility, inspection, insurance and moving companies all generated some revenue from this transaction.
Just think - everyone involved wouldn't be happy if my client had not priced their home properly.
Posted on Sunday, April 12th, 2009 at 10:55am.
5 months and a 30% haircut from original listing price ($469,900). Ouch !
Typically, most homes sell within a 10% of the listing, or the listing price is too high. Although, this home was put up for sale just as the global equity markets were in a severe, almost straight-line decline. So most buyers were (and many still are) taking a wait-and-see approach.
Despite the drop in local housing prices, there are still some sellers who still don't understand the concept of "chasing the market down".
Posted on Sunday, April 12th, 2009 at 10:33am.