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Old 02-12-2011, 09:20 PM
 
Location: N. Colorado
345 posts, read 784,203 times
Reputation: 286

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Well like the title says, I am curious if any of you have listed your house in the past few months, did you have any showings or offers?

If you did sell your place how long did it take? Was it thousands lower then you expected/last had it appraised?

Granted mine is out in the country on acreage so not a typical home sale, but I am still curious about it in general as I am planning on moving in the Summer.

The few people I knew that moved either let their house foreclose, rented it out or were renting and left. None who owned made an effort to sell. Even though the land is in my name the house is in his and I do not have to stay while it sits on the market, but neither of us is ok with letting it foreclose. Even if there is no longer equity and it breaks even with no foreclosure on his credit it is a plus. Equity would be nice but in this economy, not expected.
Last year someone told me to wait a year and see what happens, well it is the same and I am not going to stay another year, then maybe another to see if real estate turns around.
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Old 02-12-2011, 09:28 PM
 
Location: Houston area, for now
948 posts, read 1,239,291 times
Reputation: 449
Suggestion. Offer the selling Realtor a $1000 Bonus at the closing. You'll become a priorty and sell 1000 times faster
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Old 02-12-2011, 10:30 PM
 
Location: 38N 105W
4,721 posts, read 7,023,846 times
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I listed my house in rural Teller County last March 1st (2.0 acres, 15 minutes from Divide and 20 from Woodland Park), and had an offer for full asking price March 15th. But, I'm not usual. My neighbors across the street have had their house on the market since last August, and no offers. Lots of lookers, but no interest. You'll probably have to throw in some consolations like new carpet, or fixing the issues on the inspection to sell faster.
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Old 02-12-2011, 10:31 PM
Status: "Celebrating 30 years as a Broker" (set 21 days ago)
 
Location: Just south of Denver since 1989
10,886 posts, read 29,317,265 times
Reputation: 7085
The market is highly local. What works in my area, may not work for yours. I would call a few local Realtors over to show you their marketing plan and ask their estimate of fair market value.

It is important to understand the market cycles for your area.

For example, in Metro Denver we see an increase in showings beginning the middle of February and maybe not until March, depending on weather. Showings leads to offers, which lead to contracts and 70-90% of the time, closings. We have a lull in July & August and see a second increase from September to November.....

Your area may wait for spring to be in full swing, or might be like the foothills where everything has a good thaw first.
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Old 02-13-2011, 12:17 AM
 
863 posts, read 1,310,441 times
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Our house has been on the market since October- we had the intention to try to sell our house to take advantage of the excellent mortgage rates, in order to buy a new house. We have had at least one, more often two or three, showings a week. We have had several positive open houses.

We haven't had any offers at all, a couple interested buyers. Nothing substantial, and in my pessimistic state, I don't expect it to change.

Please be aware, though, that my house is unusual, being in the older part of my city (Colorado Springs), and therefore does not have what people consider necessary- that being a master bathroom. We are trying to sell so we can get a bigger house.

A big part of me thinks that our agent took fantastic pictures, and our house looks really great in the pictures, but people come to see without even looking at our listing specs (size, where the bathrooms are, etc).


I'll likely end up putting an addition on our house- waiting a couple years, trying to build up some more savings, enough for closing costs for a construction loan. Because... there just isn't a lot of other houses out there that I like.
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Old 02-13-2011, 06:20 PM
 
1,963 posts, read 4,371,254 times
Reputation: 1440
Houses are taking longer to sell or they are not selling at all. I`ve seen somebody put a house up for sale and they sold it within a couple of months. Other homes sit there for months and months. Some people who couldn`t sell, rented their homes out. This market really sucks right now.
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Old 02-13-2011, 08:42 PM
 
106 posts, read 340,695 times
Reputation: 189
We are selling ours near Durango, well it is under contract and so far things look like they are going through. It has been on the market well below appraisal for 9 months I think, minimal showings. Finally got an offer, we ended up settling for a whooping 22K more then we bought it for 8 years ago. We had bought it at a steal then and this was before the prices were really booming in this particular area (out of town). We completely remodeled the house 4 years and put on a new roof for this sale. Needless to say we are not breaking even but just want to be done with this house.
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Old 02-14-2011, 09:05 AM
 
Location: N. Colorado
345 posts, read 784,203 times
Reputation: 286
Thanks for the replies.

That's what I figured hit or miss. With some many foreclosures, short sales and etc available the market is totally a buyers one.

It would kill me to offer them another grand on top of their already high commission but it is a good idea.

Thankfully my house is 8 years old and I do not need to remodel but I did plan on putting in all new carpet, which I have sitting in my garage
Breaking even is the best I could hope for even it sells.
My neighbor has hers listed with a realtor and it is so overpriced it is insane, so maybe if they are looking in my area mine at half that price will look like a bargain, lol.
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Old 02-14-2011, 10:16 AM
 
Location: Colorado
486 posts, read 1,275,723 times
Reputation: 640
I recently sold a house and it had been on the market for the better part of a year. We sold it for what we bought it for, (after doing $20,000 worth of work to it!) so we lost money. We also had to give concessions galore such as paying for a new back patio so the buyers could get their loan approved. We basically bent over backwards to get rid of the house. It also sold for less than it was appraised.
I sure hope the new owners appreicate what a deal/steal they got!

Last edited by sesamekid; 02-14-2011 at 10:25 AM..
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Old 02-14-2011, 10:25 AM
 
Location: Everywhere and Nowhere
14,131 posts, read 27,023,055 times
Reputation: 6824
Quote:
Originally Posted by gmm_24 View Post
Breaking even is the best I could hope for even it sells.
So where are you moving to?
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