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Relocating to Virginia, need to sell home in Highland Creek, trouble selling home, on market long time, property advertisement, credit crisis, qualified buyers, homes on market, competition
My dh works for the gov't so we do re-locate alot. We are heading to VA and thus need to sell our home in Highland Creek. It's been on the market since Oct. and zero offers. We even priced it lower compared to the other homes in our area and ours comes with an extra lot. Can anyone else relate?
If its priced right, it should sell . Make sure your realtor is advertising the property in as many venues as possible and is doing the typical opem house things for realtors and the public . Also , is it in line with the Days on Market for Highland Creek ?
Location: Some got six month some got one solid. But me and my buddies all got lifetime here
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It doesn't seem like many people are getting loans these days. The banks have taken such a hit during this credit crunch that they've restructured a lot of the criteria for approving loans. It's gotten to the point where even some people with "A" credit are being denied these days (and it's trickled down to auto loans). Add that to the time of year where, honestly, people don't really move.
Speaking of this credit crisis, wait'll early next year when people would normally look to take out a PEL in order to pay off Christmas gifts. Word floating around is that those people are going to be in for a mighty big surprise. The first or second quarter could get pretty ugly if people didn't heed the warnings from this past year.
My dh works for the gov't so we do re-locate alot. We are heading to VA and thus need to sell our home in Highland Creek. It's been on the market since Oct. and zero offers. We even priced it lower compared to the other homes in our area and ours comes with an extra lot. Can anyone else relate?
Your home needs to stand out from your competition. There are a million homes for sale. It needs to be staged properly and in regards to price, your house is only worth what someone will pay for it. If you don't get any serious traffic or offers, then the market is telling you your overpriced.
Also, better to be aggressive now because things aren't stabilizing anytime soon...too much inventory and not enough qualified buyers.
Highland Creek is a very popular area. (over 99 homes for sale) You should ask your realtor to do an Absorption Rate analysis. Which tells you if no more homes came on the market, how long it would take to get rid of all the homes. I did an analysis of my area 10 in the 600k-700k price range, and that came to 15.5 months (that was back in Sept.). I am sure it is worse now. A normal range would be 6 months of inventory. (not a sellers market, but not a buyers market) This should give you some idea how long it could possibly take.
Some quick things I saw, it is slowing down in highland Creek. Something like 38 homes sold a few months ago, then 31, then 23, and in Dec. only 11 (so far)
If its priced right, it should sell . Make sure your realtor is advertising the property in as many venues as possible and is doing the typical opem house things for realtors and the public . Also , is it in line with the Days on Market for Highland Creek ?
Well back in the summer the homes in Highland Creek stayed on the market on average about 30 days, now I here it's roughly 60-90 so I am staying on target there. We've had almost 20 showings so I think it's priced right, just no buyers.
My dh works for the gov't so we do re-locate alot. We are heading to VA and thus need to sell our home in Highland Creek. It's been on the market since Oct. and zero offers. We even priced it lower compared to the other homes in our area and ours comes with an extra lot. Can anyone else relate?
There is always hope. I had my condo here in Florida on the market for six months without a bite. I took my for sale sigh down and was planning on listing it again this month as I am building a place in Charlotte. My wife was in the parking lot a couple of months ago when a gentleman and his wife and another couple approached her and asked if there were any places in the complex for sale. My wife mentioned that ours would be on the market in December. To make a long story short, the guy asked if he could see the unit. He saw it and liked it. I gave him a bottom line price and the next day he phoned me and the place is now his. I am leasing from him until Feburary. The theme to this story is to not despair and to hang out in your driveway and someone just might want to ask you if you want to sell your place. Stranger things have happened. Having your place on the market since October really isn't that long considering this time of the year.
Well back in the summer the homes in Highland Creek stayed on the market on average about 30 days, now I here it's roughly 60-90 so I am staying on target there. We've had almost 20 showings so I think it's priced right, just no buyers.
showings are nice, but you have to remember, there are A TON of homes to choose from so buyers are being extremely picky rightfully so.
If you are not getting any legitimate offers in the 1st month or so, then no you are not priced right. That is what the market is telling you. People say it is the "slow" time right now, but you have to remember, there ARE serious buyers out there right now.
If your realtor is any good, he/she would be giving you feedback from what the potential buyers are saying.
What specific things have those people said to help you possibly improve your home for showing??
Realtors in Charlotte crack me up. They all say the same thing.. there is no problem in Charlotte.. maybe elsewhere there is but not Charlotte. Hell even the head of their little cult had an article in the paper saying just that. Apparently she hadnt pulled up current homes on the market as of late.. LOL!
Umm HELLO.. this country is in a MAJOR MAJOR world of hurt.
My advice to people on the market.. pull your home.. cancel all your plans.. be happy you have a home. Wait at least 6 months and re-evaluate. Unless you have something special sales are hard.. You will take a large loss right now unless you get a dumb buyer with a dumb agent (the later are plentiful).
Trust me, I just bought one of these homes on the market 200 days! I felt bad offering what I offered and I got it.
Anyway...lots of agents lurking here spewing the same ol'e.. dont listen. They are all scared becaused they know there is gonna be a HUGE shakedown in the real estate AGENT market.. the strong good ones will survive.. the bottom dwellers who got their licenses cuz they couldnt be successful doing anything else will not make it because they have nothing to offer the market... same advice goes here.. if you have nothing special to offer no one will want to work with you..
Edit: IF you decide to go it and keep your home on the market.. you better get a stager in and listen to every word he/she says.. EVERY WORD.
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hope this helps
