Advice for buyers and sellers, from Justin Ruzicka

Fort Myers Real Estate April 2011 Statistics

Statistics are so helpful for both buyers and sellers. Since I deal mostly in Single Family Homes in Fort Myers, I will focus this blog on the Fort Myers Single Family Sold Comparison. This is a compilation of 3 years worth of data as you can see on the graph below Starting in January 2009 through April 30, 2011. If we look at the number of Single Family Solds from April 2010 to April 2011, there was a 22% decline in units! That is scary for anyone who thinks real estate has stabilized. If you look at it with comparison to of Actives/Solds year over year, the number are:
Arpil 2010, 11473/1769 absorption rate of 6.4months Compared to April 2011 9309/1369 absorption rate of 6.7 months…HMMMM seems like we went the wrong direction there? What we are seeing a lot more of is conventional resale’s coming on the market to replace the inventory of REO’s. What does this mean for sellers? It means the competition is high, it means that if you want to sell your house that is similar to your neighbors three doors down you will have to do something unique to your home to help you get it sold. I am a very proud advocate of some great marketing ideas I have used in the past and still use today to get my listings sold sooner for top dollar. In fact I pride myself that my listings sell for 99% of the asking price, and I am not selling my listings for the lowest price in the neighborhood either. I mean if you are the lowest price in the neighborhood, then you probably could sell your listings for 110% of the listed price, because the price was soooo low. Not The House-Guy, I will list your property for a fair market value that the seller and myself decide; then I will ensure we get as close to that listing price as we can and historically speaking that is 99%! For sellers in the Southwest Florida right now who’s property has been on the market for longer than 70 days, it is time to adjust your price if you haven’t done so in the last 2 weeks. If you have turned down an offer or two in the past 30 days it might mean revisiting that buyer or buyers agent to see if they will take your current offer. Generally speaking you will get the best offer for your property within 30 days of the listing date, and if you turn that down, no matter how “low” you think the offer is, you will most likely end up selling it for similar if not less than that originally “low” offer you turned down. As time value of money goes, it is often better to take a 90% offer today than hold out for another month or two and get a 94% offer.

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Justin Ruzicka, Realtor
Justin Ruzicka, RealtorThe House Guy
Much of my real estate career has been in buying, repairing, then selling the properties for a profit. I work for specific investment groups doing this, as well as manage a personal portfolio. The other 50% of my business is helping my neighbors, I have helped dozens of Families buy or sell their home.

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