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October 14th, 2009 8:58 AM by David W. Welch
Pricing properties these days is tricky, with all the short sales and bank owned homes on the market. When you factor in all the people that bought homes in 2005-2008 you can see how current prices can be tough to swallow. I do believe I have some good news for people who bought in 2003 and before. This week I sold two homes that were essentially priced where they were in 2003. Both homes were purchased in 2003, both were priced within $5,000 of their sales price in 2003 and both homes brought a lot of attention and contracts in a relatively short period of time. They were both in excellent condition and easy to show. One home was priced in the $170's and the other one was priced close to $300k. This supports my thoughts that there is strong demand out there for good homes that are easy to show and priced correctly.
If you purchased a home in 2003 or before, and need to sell, find out what homes in your neighborhood were selling for in 2003. Compare that with the most recent sales and see if my observations are correct. I am sure there will be areas of town where this will be off, and it will be impossible to apply this to new areas that were developed after 2003. I would love to hear some feedback from you though if you think this works in your neighborhood.
Orlando Real Estate, David Welch Real Estate Optimist