SOLD Stunning Waterfront Home For Sale In Key Colony Beach, Florida On 861 12th Street

Ashkarian/Ardis Team
305-395-0814/305-481-3317

Unlocking the Secrets to Fast Sales: Why Key Colony Beach Properties Like 861 12th St Are Selling Below Value—And How Buyers and Sellers Can Benefit
The property at 861 12th St in Key Colony Beach, FL 33051 sold in 74 days on the market and below the assessed value for several potential reasons:

### 1. **Market Conditions:**
- **Hot Market Dynamics:** Even in a hot market with multiple offers, certain factors can still lead to a property selling below its assessed value.
- **Seasonal Trends:** Sometimes, properties listed during off-peak seasons sell for less if there are fewer buyers in the market.

### 2. **Assessed Value vs. Market Value:**
- **Overvaluation by Assessors:** The assessed value for tax purposes may not always align with the current market value, especially if the market has shifted since the last assessment.
- **Market Corrections:** If the property was overvalued by the market initially, the final sale price might reflect a correction to a more realistic market value.

### 3. **Property-Specific Factors:**
- **Condition of the Property:** If the property required repairs or was outdated compared to similar homes, this could have driven the price below the assessed value.
- **Motivated Seller:** The seller might have been highly motivated due to personal circumstances (like a job relocation or financial necessity) and accepted a lower offer to close the deal quickly.

### 4. **Negotiation Dynamics:**
- **Aggressive Negotiation:** The buyer, who paid cash, might have leveraged this advantage to negotiate a lower price despite the hot market and multiple offers. Cash offers are often more attractive to sellers due to quicker closing times and fewer contingencies.
- **Buyer’s Strategic Positioning:** In a competitive market, a cash offer can sometimes outweigh higher offers with financing contingencies, leading to a quicker and more favorable deal for the buyer.

### 5. **Listing Strategy:**
- **Initial Pricing Strategy:** If the property was initially priced too high, it might have had to undergo price reductions, eventually selling below the assessed value.
- **Days on Market Impact:** The longer a property stays on the market, the more likely it is to sell below asking as buyers perceive it as less desirable.

Despite the competitive nature of the market and multiple offers, the cash buyer's strategic approach and the property's specific circumstances led to a sale below the assessed value. If you’re interested in further analysis or similar properties in the area, I can provide additional insights.

Are you ready to make this amazing place your home? Don't wait too long - a special house like this won't be available forever. Call now and start living your dream life in the Florida Keys!

contact Lela Ashkarian at (305) 395-0814.

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For more information, please contact:
Lela Ashkarian
Coldwell Banker Schmitt Real Estate Co.
305-395-0814 or [email protected]

You can also text 164165 to 46835
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