Selling Your Lighthouse Point Home For What It's Worth
As Lighthouse Point real estate agents and lifelong learners, the Realtors at Champagne & Parisi Real Estate can't resist reading the newest real-estate "how-to" articles that we frequently encounter on the web, in magazines, and the real estate newsletters that often clutter our email inboxes. It is our duty to constantly seek out new information that will best prepare us to assist our clients with their Lighthouse Point real estate needs and to stay abreast of current market trends and the current inventory of Lighthouse Point home for sale. Last week, I came across an article entitled, “How to Sell Your House for More than It’s Worth,” and despite my professional knowledge and experience which provides contradictory evidence to the possibility of this claim, I decided to (skeptically) read on.
I know; I know: that’s the kind of web clickbait we’ve all learned to avoid—like pop-ups announcing “New Law Cuts Lighthouse Point Residents’ Tax Bill in Half!” or “Secret Diet Miracle Food Celebrities Won’t Tell You About.” By now we’ve learned that the “new law” will turn out to be an obscure exception that applies only to some very small group and the “secret miracle diet food” is merely water. But despite all that, the “Sell Your House” essay turned out to be quite thought-provoking—although not in the way the authors probably intended.
First, about the article itself: its how-to guidance was organized into subtitles like “Quick Fix” and “Facelift.” The “sell your house for more than its worth” premise hinged on surface maintenance and cosmetic coverups. A final “Important Tip” turned out to be a whole bundle of tips—all of which boiled down to the caution, “selling a house is not easy.” I would add, especially if you ask for more than your house is worth.
But the authors were onto something—which is why their title works to attract readers. It is a fact that most otherwise sensible Lighthouse Point homeowners would be all ears if only it was possible to sell their Lighthouse Point home for more than it’s worth. Why not? And on first blush, it might actually seem possible—probably because of the free-floating nature of residential real estate price-setting. But there are two ironclad reasons why the possibility of successfully selling one's home for more than it's true worth is merely a pipe dream.
First, in a free market such as the Lighthouse Point real estate market, a home is worth the actual price for which it sells. When a willing buyer pays X dollars for a house, the house is worth X dollars. That may seem like a word game—but it is, in fact, the definition of real estate fair market value.
More persuasively, just about every one of today’s Lighthouse Point home buyers will make their offer contingent on an inspection—and our Lighthouse Point home inspectors are incredibly talented when it comes to uncovering any of the “quick fixes” and “facelift" solutions suggested in the article. These simple cosmetic "solutions," which were at the core of the article's “more than its worth” come-on, won't stand up in a real-life real estate transaction.
Long story short: it’s more astute to plan on selling your Lighthouse Point home for what it’s actually worth. Those who try to sell their home for more than its fair market value will probably find themselves drumming their fingers, waiting for a buyer who agrees.
Right-pricing means getting an up-to-the-moment analysis of the latest Lighthouse Point market returns for homes similar to yours. Give Champagne & Parisi Real Estate a call at 561-951-8484 for a FREE property analysis & estimate of your home's current market value!