Today I want to share a Blog post from one of my associates at AlaLandCo. It is written by Jonathan Goode. I hope you enjoy it.
Quality Properties at Fair Prices Will Sell (And Quickly)
By Jonathan Goode
Quality properties that are priced right will sell in this market. I will submit to you that if the property has some nice features and is priced fairly, it can sell quickly.
Recently an agent with AlaLandCo listed a nice 16 acre property for $10,000 per acre. I had been keeping in touch with a prospective buyer who was searching in this area for nearly a year. As soon as I learned of the listing, I called him to let him know this property was available. The next day he viewed the property and several others in the area. Within a few hours we had an offer of 99% of the asking price and we closed within 2 weeks! Talk about some happy sellers.
Buyers in this market are well-informed about available properties and the selling prices of what has recently closed. It is imperative for a landowner that is serious about selling to price the property accordingly. This does not necessarily mean slashing the asking price, it means listing the tract at a fair price justified by what the market will presently bear.
Three weeks ago I took a listing on a nice 111 acre farm in Fayette County, Alabama. It has a small cabin, 3 stocked lakes, 8 food plots and shooting houses included. The tract was generating hits from buyers within two hours of being online! I scheduled showings of the property on the way to show it, and had potential buyers arrive while I was already meeting others on the tract. We expect an offer this weekend. This property offers a lot of qualities that people are looking for and it is well-priced, and the public has responded with keen interest.
A good realtor who knows his area will help a landowner set reasonable expectations, and will walk away from listings that will not sell. This means the land agent must have his finger on the pulse of real estate activity in his county. A landowner may not be able to offer a better property, but she may be able to offer what she has at a better price. Quality properties at fair prices will sell in this market. Buyers will buy if the deal is right; they’ve waited long enough. The timing is right, is your asking price?
Jonathan is a professional land agent with AlaLandCo, serving the historic Black Belt of west Alabama