How to Price, Market, Position and Sell Your Coral Ridge Country Club Home
For generations, homes in Coral Ridge Country Club have been among greater Fort Lauderdale’s finest luxury residential gems. Whether ranch-style, single-story homes built in the 1960s or ’70s, or newly-built, multi-story residences with all the modern touches and amenities, the more than 3,000 homes share a community unique to South Florida. For a South Florida real estate agent, that can make pricing, marketing and selling a home there challenging.
This is the second of four articles by Gary Lanham Group at Coldwell Banker Fort Lauderdale Beach Office team members Danny Shears, Richard Rogowski, and Eileen Mulkey, a senior forensic Fannie Mae appraiser who has handled difficult reviews and comparables for more than three decades. Together, they are experts on pricing Coral Ridge Country Club homes for sale.
New & Older Homes Create Pricing Challenges
Along with the stately homes built decades ago, add to those the more recent addition of Enclave at Coral Ridge Country Club development. There, lots range from 17,000 square feet to one acre, and the homes are priced from the $800,000s to $1.8 million or more. Together, these make “CRCC” highly desirable for people moving to – or within – South Florida.
This variety also presents a challenge for pricing a home for sale. With homes on the golf course, the waterfront with direct access to the Intracoastal Waterway, or beautiful interior lots, as one of Fort Lauderdale’s more timeless and desirable luxury communities, each home is likely to command an impressive price at sale. Pricing each for listing, however, can be challenging.
But how does a seller know the price is right? A skilled Greater Fort Lauderdale Realtor can help. Trained to price, market and position your Coral Ridge Country Club home for sale – or help discover the right price to pay if you’re buying a home in the exclusive community – Realtors are trained to turn “For Sale” signs into “Sold” signs, with buyer and seller alike pleased with the price paid.
Pricing the Home For Sale
Pricing your home in Coral Ridge Country Club, or Pompano Beach, Imperial Point, Wilton Manors, Oakland Park or Las Olas Isles, for that matter, requires the art, science, psychology, and keen insights of a proven professional – all driven by a keen understanding of “big data” and the knowledge of how to capitalize on it.
At Gary Lanham Group at Coldwell Banker Fort Lauderdale Beach, big data and those insights [HYPERLINK to previous article] fuel every pricing calculation.
A recap about Coral Ridge Country Club… This community epitomizes the “three rules” of successful real estate: Location, location, location. It has long boasted a host of unique attributes that set it apart from other communities. Highly differentiated in the greater Broward County marketplace, it’s centrally located along U.S. 1 / Federal Highway and the Intracoastal Waterway between Commercial Boulevard and Oakland Park Boulevard. This makes it accessible to the Atlantic beaches and boating; the finest restaurants, luxury shopping, and cultural amenities Broward County has to offer; and that unique Greater Fort Lauderdale lifestyle.
Coral Ridge Homes Priced to Sell
So how can you ensure your Realtor prices, markets, and positions your Coral Ridge Country Club home to sell? Your team should...
- Know how your home is different from the rest. Differentiation is critical. Over the decades, homes have been bought and renovated, or torn down and rebuilt, each bringing a more modern and contemporary residence to the community. Between modernization, location, and the number of bed and bathrooms, as well as other living spaces, in your home, all help set your home apart.
- Know how home sites are differentiated. Coral Ridge Country Club has a variety of homes and home sites to choose from. From standard lots, to those on the golf course, the water, or in the newer Enclave at Coral Ridge Country Club, each is unique – and must be priced accordingly. Golfers, or those who prefer a home with a golf course view, seek different parcels than those, especially yacht owners, who seek the “deep-water access” waterfront homes here provide. Enclave presents an exclusive, ultra-luxury lifestyle in newly-built homes available on the golf course, unlike any home anywhere else in east Fort Lauderdale.
- Research pertinent and timely data. Looking at sales over the past six to 12 months, Realtors can establish comparable or “comp” home sales. This helps discover relevant sale prices and what your home might appropriately list for. MLS records can reveal how currently listed homes are priced. Using county tax records, you can see the square footage “under air,” or the amount of the home that’s air conditioned. This does not include the garage, patio, or front porch; it often may not include additions that were completed without the necessary building permits (which can bring problems in the future if permits are sought and inspectors discover unpermitted additions). Comps must be compared “apples to apples,” or with homes of similar features, in order to best establish the pricing. This may mean excluding new construction versus older homes, or multilevel versus ranch-style homes.
- Consider the intangibles. Variables that may differ by home include if there’s a pool; the size of the home site; whether the home is on the water, golf course, or is a standard, interior lot; has any significant upgrades; and the home’s age. “Intangibles” more difficult or impossible to measure or value can range from interior design treatments, custom exteriors, and other highly personal finishes.
- Crunch your sale price. In the surrounding neighborhood, 18 homes sold between January and early October 2018. The sales amounted to $30 million, or an average price per square foot of $440. In the example cited in the video, the home’s square footage of 3,111 square feet, multiplied by the average price per square footage in the community, arrives at a market value of $1.385 million. The seller can work with the Realtor to adjust the asking price based on intangibles that can positively affect the value.
Though this discussion has been reduced to a concise, five-point list, pricing a home is a complex, even confounding, calculation to those new to the process. That’s why trained professionals with this data and insights in hand are in the best position to establish ideal pricing.
The team at Gary Lanham Group at Coldwell Banker Fort Lauderdale Beach maximizes verifiable information, what we call “big data,” along with the intangibles and personal preferences to calculate competitive home prices.
And at every level, our skills fuel proven results for every client. If you want to learn more, just call me. Join Danny, Richard, and Eileen in our next video and blog as they share their experience in luxury home pricing.
Gary Lanham Group at Coldwell Banker Fort Lauderdale Beach Office is a boutique real estate organization offering sales, leasing, and brokerage services to the Greater Fort Lauderdale area. A listings agent matches home sellers with buyers and tenants with landlords. While Broward County is our universe, we focus on Coral Ridge Country Club, Oakland Park, Wilton Manors, Pompano Beach, and the surrounding areas. Call us today at (954) 695-6518 or visit www.GaryLanhamGroup.com.