Don’t Let These Myths Get In The Way Of Getting The Best in Pensacola FL Real Estate

We have all encountered a few or several of them before – the urban myths about buying and selling real property. You have probably also skipped on a few great Pensacola FL real estate deals because of them.

Now is the time to rid yourself of the belief in these myths! You don’t want to miss out on the great deals in the Gulf Breeze FL real estate, too, especially when the market is becoming ripe for the taking. Here are a few of the fiction and the facts behind them.

Set a Higher Sales Price for the Property

You’re probably thinking that it’s a clever idea to set a higher sales price that the amount you’re expecting to get. You can accept lower offers, after all, since these will still give good profits.

But here’s the deal: You may actually be getting a lower price for the property when it closes! There are several reasons for your loss, not least of which can be your greed.

First, potential buyers and their real estate agents will not even look at homes priced above their fair market values. You’re missing out on buyers who have the means to actually close on the property!

Second, prospective buyers and real estate agents are highly suspicious of real property that have been listed on the market for several weeks. Your property, for example, may have been listed online for more than three weeks, which can set off warning bells. This is because prospective buyers will have serious doubts about its desirability – if other buyers are passing it up, then it may have serious issues.

But don’t price the property for less than what you expect to get either. This is especially true in a declining market where all the offers will be at the asking price of lower. You’ll likely end up selling your home at a loss just to get it off your hands.

Renovate the Bathroom and Kitchen

You’re probably thinking that you can recoup the investments made in the bathroom and kitchen renovations by setting a higher selling price. But this isn’t always the case for many reasons.

Your potential buyers will likely not share your design preferences in these areas and, thus, can be discouraged from buying the property. You may even encounter potential buyers who would rather skip the entire property because they don’t want to redo a recently-renovated area.

You’re not also likely to recoup your investments for the renovations. According to expert estimates, you can only recoup 67% of your investment in a major kitchen remodel and 70% on a bathroom renovation. If you place yourself in the shoes of the buyers of your Cantonment real estate property, for example, you will see the validity of these points.

The bottom line: You should work with a licensed real estate agent so that you can get the best deal out of your home sales.