Bobby Freeman’s Real Estate Market Watch: Properties For Sale or Not For Sale?
By Bobby Freeman, Realtor // August 23, 2018
60 days: The average time for a property to sell in Brevard county
ABOVE VIDEO: Bobby Freeman’s Real Estate Market Watch: For Sale or Not For Sale?
BREVARD COUNTY, FLORIDA – Properties are selling fast on the Florida’s Space Coast.
The average time on the market for a property to sell in Brevard county is around 60 days.
However, there are properties still sitting on the market for sale well over the 60-day average.
“Wow, there are six condos for sale in this community. Why so many?” said one of my buyers recently. I replied, “Yes, we just looked at six condos in a 180-unit community, but only two condos are really for sale.”
The buyer wanted clarification, so I stated the facts, four of these condos have been listed for sale for over 200 days. Three of the four never had a price reduction.
All four are vacation condos for the homeowners.
These overpriced sellers are “not selling.”
Instead, they are “testing the market” in hopes of an uneducated cash buyer will come along and purchase above market value.
Too many sellers set the asking price based on what they want to get rather than what comparable condos have recently sold for.
The worst mistake a seller can do in today’s market here on Florida’s Space Coast is heavily overprice their property. The second worst mistake a seller can do is have multiple small price reductions.
Another mistake is not having professional photos and a video tour.
Yes, anyone can produce a Facebook Live tour, but if there are only a small amount of views on the video in one month, then the video tour is obviously not reaching a huge audience.
I strongly advise sellers and buyers not to rely on Zillow’s awful estimates. Click on the Real Estate section on SpaceCoastDaily.com for my videos regarding Zillow.
If you are looking to buy or sell, give me a call at 321-693-1694 Bobby Freeman McCoy-Freeman Group REMAX Elite and visit my website at www.FloridaBeachHomesAndCondos.com
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