5 Reasons your Condo in Fort Lauderdale is not selling
Fort Lauderdale is a city in the U.S. state of Florida, commonly known as the secondary market to Miami because it is a nice destination to reside if you cannot afford a place in Miami. It is fast becoming a city of choice for investors for both commercial and residential purpose, since it is a strong commercial center with a relaxed and beautiful environment making it a sight to behold and a place to build in.
The real estate market in Fort Lauderdale keeps rising as more residential properties are built and rented. There are various luxury condominiums that are built and beach residences to make the tourists and residence comfortable in the beautiful city filled with lovely restaurants, beaches, hospitals, shopping centers, fitness centers and other social amenities.
There are various factors that make FL a suitable place to reside in but as an investor, if you make some mistakes your condo will not sell and some of the reasons to look out for are:
Location
The location of the condo is the first factor to consider, this will be one of the reasons why your property is not selling. People come to FL to reside because of the tranquility they want to get and the visibility to social amenities, if they can’t have that where your property is located, they will go somewhere else.
Value
The value of your property is important, as much as there are several deals everywhere, buyers still want value for their money and if your property does not have that you may lose buyers because as much as you want to rent or sell you condo, the seller wants value for their dollar. There are numerous competitors out there, there are several sellers willing to give buyers a good deal for their money but with value, you can get people coming to see your property and negotiate to buy.
Price
South Florida had a slow year in the property market because of the dollar rise but is picking up, therefore it is smart to fix your condo price to fit the present situations, some sellers are willing to offer 10% to 20% price reductions to get their property bought. Ensure your property are not over-priced so they don’t sit too long in the market which may cost you because of the inventory.
It is best for an investor to purchase a vacant property for sale ,resell to buyers so that they can build the desired condo to fit their taste. This way is cheaper and suitable for the seller as they don’t have to do the construction of the house avoiding the price increase in construction equipment and they still get their income. Furthermore, this is the best way to sell to buyers and avoid the unnecessary discussions that come with renting out a building.
Marketing
Whether you are selling your condo by yourself or using a real estate agent, it is necessary to factor in marketing so your property wouldn’t stay too long in the market. Online presence is necessary in this age so it is essential to put your property online, take a picture of the condo both the interior and exterior then give a brief or full description and detail of the property leaving your number for prospective clients to reach you and an interactive map to get people to view the area the property is located.
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“Junaid Ali Qureshi
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