real estate - Orlando and Clermont Real Estate

Buyers Are Not Going to Make Offers on Overpriced Listings

Buyers Are Not Going to Make Offers on Overpriced Listings

If you are thinking about pricing your home for sale above market value, buyers are not going to make offers on overpriced listings. One thing for sure, real estate market is HOT!! It’s sizzling. Some areas are experiencing low inventory with high demand that’s causing home prices to go

up, especially in the affordable price range. What is an affordable price range you might ask? Well, that truly depends on where you are in the country, in Clermont FL area, the affordable price range is just middle of the road, between $200,000 and $250,000. That number will look a lot different if you are in NY or Los Angeles.

If you are in a hot seller’s market with high demand and low inventory with increasing home prices month after month, you might want to list your home for sale above the fair market value and hoping buyers will make offers on an overpriced listing.

BUT…Guess what? Buyers are not going to make offers on overpriced listings. Just like home sellers, buyers also study the market, most are working with knowledgeable REALTORS® who are guiding them through the transaction. Besides, their search criteria will most likely be within their pre-approved mortgage. If they are approved to purchase a home up to $250,000, they will not be looking at homes priced at $300,000 hoping sellers will come down. Just like home sellers, they know it’s a hot market and homes that are priced right will go under contract fast so they’re not even going to waste their time looking at homes outside of their price range.

If a buyer tells me they’re looking to buy a home in Clermont FL priced up to $250,000, my search will be slightly over their pre-approved price. If I send them homes that are priced well above their range, they will think I’m not listening or have no regards for their wishes. So your strategy of overpricing and waiting for buyers to make offers isn’t going to work.
Yes, as a REALTOR®, if my buyer client likes the overpriced home, I will encourage them to make an offer and will definitely speak with the listing agent prior to submitting it, however, it’s up to you, as the seller to either accept or make a counter-offer which will show the buyer how motivated you are to sell your house.

What if your REALTOR® suggests listing above market value? Why would they do that? Do they really know the market? Are they trying to win you over so you would list your home with them? Do you have the time to participate in this game?
As a REALTOR®, I don’t have the marketing dollars nor the time to play games. I list homes to sell. List and see what sticks doesn’t work for me, never did.

Everyone’s motivation is different, however, most home sellers list their homes to sell. To accomplish that goal, it’s best to do everything right from day one. That includes getting your home in show ready condition, working with the right REALTOR® for the right reasons and most importantly, pricing it right.
As a professional, I come across overpriced as well as underpriced homes for sale. Those that are overpriced will either expire or see a major price reduction after a long marketing time. The ones that are underpriced will hopefully generate multiple offers and sell over list price.

Do Buyers make offers on overpriced listings? That depends on the area and competition. Remember, real estate is very local so what happens in Los Angeles isn’t very common in Clermont FL. Instead of wondering, it’s best to price your house to sell.

If you are a Clermont FL homeowner thinking about selling your home, I would love the opportunity to speak with you. Call or text me at 407-929-1852 for a FREE market analysis. Clermont FL home prices have increased 11% compared to last year. Your home may worth more than you think.

Homes on Lake Louisa

Lake Louisa that is the largest in a chain of 13 lakes around the Clermont Florida area. About half of the lake is surrounded by the Lake Louisa State Park and the north end of the lake is full of residential neighborhoods and waterfront homes.

The Lake Louisa state park is over 4500 acres of rolling hills and scenic landscapes as well as numerous lakes and of course Lake Louisa itself. There are numerous natural preserves, wildlife, parks and pathways throughout the park as well as camping, canoeing and kayaking, hiking trails, fishing, horse trails, picnic facilities, playground and swimming facilities.

Homes along the northeastern part of the lake are accessible along Lake Louisa Road from Highway 27. These homes featured docs, boat accessibility, wooded lots and larger layouts. Many of these homes are built in the 1960s and 1970s although you may find many renovations and remodeled homes up to today’s standards. These homes range from about $500,000 to over $1 million depending on the size, condition and lot size.

On the west side of the lake are several lots along Oswalt Road, many of which come out into a peninsula and feature waterfront access on two or three sides of the lot. These homes range anywhere from $200,000 to over $800,000, also depending on size, lot and condition. There are also many lots currently for sale that are vacant and ready for building. These lots range from about $75,000-$200,000. If you’re looking to build your dream home on the lake, this would make it excellent option. Residents are about 15 minutes to downtown Clermont yet miles away from the ordinary text into the back side of the lake. These homes are along many other lakes such as Lake Glona, Lake Nellie and Saw Mill Lake. Many of the homes on the west side of Lake owned property out into the lake itself so a dock or boating access is highly feasible. Many of these lots on the website also are between 1 to 3 acres and most of the homes currently were built after the 1960s.

The homes around Lake Louisa are part of the Lake County Public school District and utilize the Southlake high school, the Pine Ridge elementary school, and the Gray middle school, all of these schools receive a seven or eight score from great schools.org.

For more information on the homes and real estate around Lake Louisa in Clermont Florida please fill free to browse my website or contact me for more information and a personalized list of all the homes that match the property you are looking for.

SEARCH ALL LAKEFRONT HOMES IN CLERMONT

Images by Katy Warner Flickr

Home Prices in Orlando Dropped in August

Home Prices in Orlando Dropped in August

Prices in the core Orlando market took their expected seasonal drop last month. They dropped from a middle of the road $170,950 back in July to $165,000 in August. These prices are according to Orlando Regional Realtor Association’s report.

It’s typical for prices to drop at the end of summer, but this decline is partly being attributed to the result of large amounts of distress properties selling last month that furthered the depressing of the region’s median price.

The amount of foreclosures has been increasing as well as auctions of foreclosed properties. Orlando foreclosures have increased by a third of the amount they were this time last year. They have increased more than 20 percent from July.

Last month year over year prices in the core Orlando market increased 26 percent for short sales, 9 percent for foreclosures and only 5.5 percent for normal sales. Overall home prices were up 6.4 percent year over year. This is only a fraction of the year over year increases that Orlando buyers and sellers realized last year, which was 24 percent.

2,449 houses sold last month, which is down from both a month ago as well as a year ago.

Homes are currently spending an average of 68 days on the market.

There is concern that the future holds a potential of becoming a buyers market as inventory increases.

Under contract homes last month, consisted of 34 percent shorts sales, 42 percent normal properties and 24 percent bank owned properties.

Want to know more about the Orlando and Clermont real estate market? Please check out the following articles:

– Winter Garden Village Has a New Owner

– Curb Appeal Check List to Sell That House!

– What to Do When Your Offer is Rejected on a Home in Clermont

What to Do When Your Offer is Rejected on Home in Clermont

It’s no secret that the process of buying a Clermont home can be quite stressful, especially for first time buyers. However, whether you’re a first time buyer OR a seasoned buyer, it’s still disappointing when your first offer is rejected. The good news is that in real estate “no” doesn’t necessarily mean “no”. It usually means “let’s talk”. It’s at these times you can be glad you’ve got an experienced real estate agent on your side who KNOWS how to negotiate!

Rejected offers are more common than many people realize. As your agent will tell you, a rejected offer often sets the stage for what can be quite the process. A rejected offer means it’s time for you all to sit down and work on a compromise.

When multiple offers are involved, your agent may advise that you get straight to the point and submit your bottom line offer. Your agent will also point out to the seller at this time that this is indeed your bottom line offer. It’s true at this time that you do run the risk of losing on this “take it or leave it” situation. Certainly if you’re a first time buyer who may not have the resources for a classic bidding war.

In a lot of cases there are other items that can be the basis of trade-offs such as closing dates, closing costs, inclusions and needed repairs. Even if you badly want those high end appliances included, don’t tie your agents hands by insisting that they are.

Additionally, don’t let emotion get in the way. This is a prime reason for having an agent negotiate for you. Your agent is trained and emotion free. Plus they have negotiating experience so that you can relax and as the popular song in Frozen goes, “Let it Go.”

– Inspections to Have on a Lake Front Home in Clermont

– How to Stage Your Empty Saw Mill Lakes Home In Clermont

– Homes Near Golf Courses in Clermont, Florida

How to Stage Your Empty Saw Mill Lakes Home in Clermont

Is your Saw Mill Lakes home in Clermont vacant but you want to stage it to sell? No problem! Vacant homes make for bland listing photos with no character and nothing to “grab” a buyer. The good news for the seller is that great staging of your vacant home requires little investment that will pay off in the long run. The goal is to give color and life that will present itself in listing photos. Why? Because photos generate showings. Thank you to James K Poole for his beautiful lakefront image.

The Living Room: You can add life to this room by simply placing a couple of arm chairs and a large plant in a good position. Then maybe add a few throw pillows or a throw blanket and a couple of interesting objects on a fire place mantle if you have one. This is affordable because most likely you already own these things and can live without them temporarily in your new or current place.

The Kitchen: Set a coffee pot or Kitchenaid mixer on the counter and hang a colorful hand towel from the oven. Then, maybe a basket of fake fruit on the counter as well. The fruit and hand towel will do much to make the room “pop”. This is affordable because the coffee pot could be a second one you already own or one you grab from a thrift store and the towel and fake fruit can all be purchased at a local dollar store.

The Bathroom: Get a great shower curtain with pattern and or color and a scented candle to place on the counter near the sink. The shower curtain can be purchased for as little as $10 and the scented candle, even though not lit, adds color and fragrance to the room. Plus, why not light it for the photos at least and see it’s glow bring warmth to the listing photo!

What to Do When Your Offer is Rejected on Home in Clermont

See also

– Inspections to Have on a Lake Front Home in Clermont

– How to Stage Your Empty Saw Mill Lakes Home In Clermont

– Homes Near Golf Courses in Clermont, Florida

How to Stage Your Empty Saw Mill Lakes Home in Clermont