Thinking about selling? Now’s the time! | US Virgin Islands Real Estate Blog

US Virgin Islands Real Estate Blog

Thinking about selling? Now’s the time!

By Barbara Birt

Get out your paint cans, re-grout those tile joints, and spruce up your home.  Because if you’ve been thinking about selling, now is the time to list so you can take advantage of the increased interest from buyers that high season brings.

But sprucing up your property is just part of the preparations you need to make. You also need to be willing to listen to the advice of your real estate agent when it comes to pricing your home or condominium.  If you price your property according to expectations left over from the strong real estate market of a few years ago, it’s likely to be a waste of time and effort, on your part as well as that of your sales agent.  Here are some facts to consider.

There are 21% more homes and condos for sale this year, compared to last, so there’s more competition.  Buyers have a lot to choose from.  However, the good news is that 44% more homes and condos went under contract this year compared to last. A lot more deals are being made.  Sales increased this year by 28% compared to the same time period last year.  But sellers need to be prepared for a slight drop in prices over last year.  The average sales price fell by 8%.

Pricing is key to moving your property quickly.  Ask your Realtor about comparable sales and examine how long it took the property to sell and whether the seller had to compromise a lot in price.  Ask yourself how quickly you need to sell. Are you able to test the waters at a higher price for a while, in hopes you find a willing buyer?  how much are you wiling to negotiate?  All of these are questions you need to consider when you list your home.  This is a market where buyers like to start low.  Don’t be insulted if you get a so-called “low-ball” offer.  This is not personal. This is business, as Tony Soprano would say.  So, put some lipstick on that home, keep it neat for showings, decide how quickly you need to sell and then call Sea Glass Properties, and we’ll work hard for you to make that sale happen!

Barbara Birt, sales agent,  690-9995.

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