This letter was sent to a seller who needed to evaluate the position of his property in the Vallarta market at this period in time.
Of those who have looked at the condo so far, almost half thought the condo needed remodeling. Approximately 25k% was not ready to buy yet. Most of the comments indicate the buyers were in the 350k-price range and lower. The couple looking at this unit did not buy it as the wife thought it needed too much work. Their purchase ended up being a new one in the same range on the beach in the NV-Flamingos area north.
We have a lot of supply right now and your unit is competing with other locations as well as what is for sale in your neighborhood. I recommend we drop below 350k to be in the smaller supply list of condos for sale in your location. This price also takes into account your location demand.
It is hard to tell people that their home is not desirable by many and we will have a dickens of a time selling it. For a real state professional, a listing is an expense and taking a high risk of finding a buyer for an undesirable property will depend primarily on price.
Long ago I learned that my tastes would be too restrictive to enable me to sell. I had to learn the distinction of evaluating whether a property had fundamental problems to overcome and realize that one man´s junk is another man´s gold.
But I still had to assess the risk of it costing me more than I should spend to market a property, which had little chance of selling, regardless of different tastes people have. Price seems to become finally the only motivator.
Rule I have learned: If even a low price does not increase very much the chance of selling, don´t take the listing.