Can I Sell In Palm Coast At A Good Price With All Short Sales and Foreclosures?

Many sellers have been questioning whether they can sell with all of the short sales and foreclosures on the market. This is a valid concern, but it does not mean that you can not sell and get a good price for your property.

Right now amongst Residential Homes in Flagler County, FL there are:

- 1,754 Residential Homes for sale
- 523 Short Sales (30% of all homes available)
- 26 "Lender Owned" (1% of all homes available)

In the City of Palm Coast, FL amongst Residential Homes for Sale there are:

- 1,354 Residential Homes for sale
- 489 Short Sales (36% of all homes available)
- 23 "Lender Owned" (2% of all homes available)

At 31% & 32% combined in both areas, it seems like a lot to compete with especially since these properties are often priced lower than normal properties for sale. The truth is, that with the right selling strategy and pricing right you can compete without pricing in the range of these properties. There are some unique things with these types of properties that you have to keep in mind:

1. Foreclosures tend to sell at a much quicker pace (currently about half of the average time on the market than all properties sold combined). These often need some repair and some buyers are not interested in this aspect.
2. In terms of Short Sales, pricing can get a bit difficult to understand. Since these are pre-foreclosure situations, the seller often wants to sell quickly before their is not any other option and owes more than it can be sold for due to market conditions. But in listing the property, no one knows what the bank is really willing to accept because they are attempting to minimize their loss. Therefore, an obvious dilemna arises. To sell quickly, you must price aggressively but the offer that comes in (even if full price) may not be acceptable to the bank. Many buyers are beginning to understand this.

So what does all this mean to the normal seller? If your house is in good repair and you are pricing "right", you are in a good position with advantages. You add the benefit of an easier sale for the buyer. Successful selling is about pricing "right", great presentation, and maximum exposure to buyers. It's about more than just being listed in MLS, 3 pictures taken, and the number of bedrooms and bathrooms listed to get showings. That's where I come in. The answer is YES when done correctly. Remember that buyers are in a good position right now because interest rates are low, prices have come down to more affordable levels for many, and there are tax credit advantages for some buyers. Palm Coast has closed 156 Residential House sales so far this year and 51 were normal sales at:

- Average Selling Price: $170,540
- Median Selling Price: $148,000
- Highest: $360,000
- Lowest: $72,500
- Average days on the market: 144

Click here to find out about all of the great services I have to offer sellers in today's market.

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