The Secret to Determining an Accurate Value and the Right Listing Price of Your Lot
With Searchlots You Can Continuously Monitor Your Lot Investment
Only Searchlots.com gives you direct access to this powerful information…today, tomorrow, next week or next month…
so you can continuously monitor the increasing value of your investment, and the dynamic market conditions of the Lee County, Florida real estate market.
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At Searchlots.com, we've discovered the secret to setting…and getting the best re-sale prices on lots. The secret is….. getting a full perspective of today's market condition in the Lee County Real Estate Market…Sold Prices, Active (Listing) Prices and, most importantly, Pending Prices in Lehigh Acres, Fort Myers and Cape Coral.
We've broken it down into a simple 3 step process:
Step #1: Determine the value of your lot
To determine what your lot is worth at today's
market value, use the SearchLots Value Your Lot program to define
the range of value for your lot by comparing the Active
and Pending prices of lots comparable to yours in size,
frontage and water access. The highest comparable lot Pending
price and the lowest comparable lot Active price should
reveal the upper-end range of the value for your lot.
Apples to Apples
Note that accurate comparisons include lot sizes, frontage, and water access.
For example, a lot with Gulf access will generally sell at a higher price than a dry lot with no direct access to water.
That's a long way to say, "remember to compare apples to apples."
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Step #2: Assessment - Is it a Buyers or Sellers Market?
The Lee County Real Estate Market is an incredibly dynamic one. Not only has real estate values grown over 300% in the past five years, but we have noted that the sales cycle of moving from a Buyers Market to a Sellers Market can change in as short as a two month time frame! To determine if today's market conditions are more favorable to Sellers or Buyers, compare the prices of Active & Pending listings:
- Generally, if the prices of Active
Listings are greater than the prices of Pending
Listings, it is a Buyers Market
# Active Listing Prices > # Pending Listing Prices = Buyers
Market
- Generally, if the prices of Pending Listings are greater than the prices of Active Listings, it is a Sellers Market
# Pending Listing Prices > # Active Listing Prices = Sellers
Market
The wider the gap between the number of Pending and Active Listing Prices, the more acutely the market is moving in that direction.
Remember -
Buyers always have the final word on the value of your lot.
The economic law of supply and demand rules in the real estate market.
Pure and simple - at any point in time, the value of your lot is only worth what buyers are willing to pay for it.
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Step #3: Select Your Pricing Strategy
What's the right listing price to put on your lot in Lehigh Acres, Fort Myers or Cape Coral? That depends on one critical question:
How soon do you need or want the money from the sale of your lot?
Based on your answer to this critical question, we recommend a 1,3 or 6 month pricing strategy:
One Month Pricing Strategy
If you want to sell your lot in one month, establish your lot price at today's market value, slightly less if it's a Buyers Market or slightly more if Sellers Market
Three Month Pricing Strategy
If you want to sell your lot within 3 Months, establish your lot price at today's market value of your lot + 3 times the average monthly growth rate, slightly less if it's a Buyers Market or slightly more if Sellers Market. Please feel free to call us for counsel on the estimated monthly growth rate.
Six Month Pricing Strategy
If you want to sell your lot within 6 Months, establish your lot price at today's market value of your lot + 6 times the average monthly growth rate, slightly less if it's a Buyers Market or slightly more if Sellers Market. Please feel free to call us for counsel on the estimated monthly growth rate.
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