Selling a Home in Lake Nona

If you’re considering listing your home for sale, you probably have a lot of questions. There’s a lot that goes into the sale of a home, from preparing it to marketing it to closing the deal. For a smooth and successful sale, we highly recommend hiring a qualified real estate agent to ease your mind and take care of every last detail. Florence Zimmerman is experienced and ready to bring your home to market. In the meantime, keep reading for some of the most frequently asked questions about selling a home in Lake Nona.

In light of the many changes the real estate market has experienced in recent months, a lot of homeowners are wondering if it’s a good time to sell their home. Earlier this year, national median home prices reached a peak of $416,000. Amid rising mortgage rates, the market has since declined, and the national median home price is around $379,000. For the Orlando area, the median sales price for October 2022 was $365,000, which was actually a 12% increase from last October and consistent with the median sales price for the prior month. There are signs that the market is slowing in the area however. The average number of days on the market has increased by 40% since last year to 38 days. The inventory has also more than doubled since the same time last year. However, it should be noted that this level of inventory represents only 2.62 months' worth of supply, and a balanced market is considered to be six months' supply.

 

What do all these numbers mean? Essentially, the market is slowing and moving towards a buyer’s market, but that doesn’t mean that it’s a bad time to sell. There is still a relatively low inventory in the region. So while sellers may have to work a little harder to capture the attention of buyers and should not expect the bidding wars of recent years, homes are still selling well. And specifically for Lake Nona, where homes tend to be more expensive and in higher demand, sellers are still fairing well. For October 2022, the average sales price in the Lake Nona area was just over $1 million, with only 28 listings on the market. If you have additional questions about today’s market, contact Florence Zimmerman.

As we discussed above, the average number of days on the market in the Orlando and Lake Nona area is 38 days. However, this does not include any time you’ll need to spend getting your house in shape (as we’ll discuss below) or the escrow period. If your goal is a smooth and fast transaction, we recommend hiring a qualified real estate agent like Florence Zimemrman.

There are a few tips that can help your home to stand out and sell as quickly as possible. Completing pre-listing inspections will identify any repairs or deficiencies in your home right off the bat. Buyers typically complete inspections during the buying process, but having these reports available to them proactively can expedite the process and show that you’re committed to an expeditious sale. This will also allow you to complete any renovations or repairs needed to attract buyers and close the deal.

 

Properly marketing your home is another strategy for selling a home in Lake Nona more quickly. With professional photos, virtual walkthroughs, and various showings and events, your home will stand out to a larger pool of buyers. Additionally, proper pricing strategies and offer deadlines can move the process along. These are all strategies that a great real estate agent like Florence Zimmerman can help you properly and efficiently execute.

Some of the strategies for expediting the sale of your home that we just discussed can also help to increase the sales price. A recently updated home will typically generate more interest and, in turn, a higher price. In addition to basic repairs, some specific renovations can help to increase your sales price. Modest kitchen and bathroom renovations like elevated cabinetry, countertops, tile, flooring, appliances, paint, or lighting typically have the highest return on investment.

 

Pricing and marketing strategies can also increase the sales price of your home. Your real estate agent will be able to recommend the appropriate strategy for your neighborhood and home based on comparable properties and today’s market. This is another reason why hiring an experienced real estate agent is critical.

Absolutely. Staging your home helps potential buyers to visualize themselves in your home. The National Association of Realtors confirmed this with a recent survey. Your current decor and furniture are beautiful but may be specific to your preferences and styles. A current and neutral decor will help more buyers see themselves in your home, increasing the interest and sales price of your home. Particularly for luxury properties, like homes in Lake Nona, buyers will expect a specific, high-end look.

A common theme of nearly every frequently asked question in this post has been that a qualified and experienced real estate agent will make all the difference. The right agent can help you assess the current market in your specific area, expedite your transaction, advise which areas of your home could use improvement, properly price and market your home, and refer you to professionals like photographers and stagers that will help your listing to stand out. That’s a lot to take care of. And not only does it help to alleviate some of your stress, but it can increase the sales price of your home as well. If you’re selling a home in Lake Nona, a real estate agent will make all the difference, and Florence Zimmerman is ready and eager to assist you.