Orlando Real Estate News

Your Orlando Downtown Condo is not selling and you have questions why it hasn't sold.   There are many reasons that Condos do not sell in Orlando.   Let's review some of these reasons:

LOCATION

It may be more difficult to attract buyers to a Downtown Orlando Condo if the location has challenges, such as street noise, poor views, or is in an area that is perceived to be unpopular.  If your condo has location challenges, you want to be sure it is priced aggressively and is superbly staged.

Read Also: Orlando Home Staging Tips

FLOOR PLAN

Most condo buildings have a few units that have poorly thought-out floor plans, or are older condos that don't reflect today's lifestyle.  Some of the reasons why floorplans are undesirable may include:         

• Poor flow      
• Limited closet and storage space       
• Small Rooms        
• Lack of natural light         
• Unattractive views         
• No in-unit laundry facilties        
• Limited perks - gym, pool, etc.

In the past these condos sold easily, but in today's market they require that  pricing and staging are given a great deal of attention.

Read Also:  Determining What your Orlando Home is Worth 

THE CONDO IS PRICED TOO HIGH

The real estate mantra "location, location, location" has been replaced by "price, price, price". As noted above, location is important, but the location and other issues can be overcome by correctly pricing your unit.  There are negative aspects of over-pricing:

• If a condo is on the market too long it may give prospective buyers the impression that something must be wrong with the unit.
• You lose buyers that should be looking at your home, but pass on it because it doesn't fall within their target range.
• Many sellers price higher than the price they really want in the belief that they will have to reduce the price in the negotiations, but in reality this strategy often limits the pool of buyers.  Remember, that in order to negotiate, you must first have an offer.  If you price too high, there may be no offer to negotiate.

Read Also: Price Reductions are not the end of the world!

ORLANDO CONDO CONDITION

The majority of Orlando buyers want to purchase a condominium that requires little or no work to do.  Only about ten percent of prospective buyers are looking for a fixer, so you will greatly improve the pool of interested buyers if your condo is move-in ready. Sellers need to create a good first impression by making sure that necessary repairs and maintenance have been completed, and extensive staging strategy and been used. 

Read Also:  Marketing your home to attract Orlando Home Buyers

SELLING "AS-IS"

Most buyers regard "AS-IS" homes as too difficult to manage. The prospective buyer doesn't know if it's just carpet and paint - or if it means the kitchen and bathrooms need to be gutted and redone. These properties may often be a good deal for the right buyer, but advertising "AS-IS" is generally not a smart choice.

We're experts at putting people together with homes they love and can afford. Contact us today for information on Orlando and Seminole County real estate, Orlando & Seminole County homes for sale, Orlando & Seminole County relocation information, a free market analysis of your Orlando area or Seminole County home or statistics on homes in Orlando & Seminole County Florida or the surrounding Central Florida area, including Seminole County, Orange County, Lake County and Volusia County. We're always available to answer your questions.

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