Why isn't ANYONE interested in my Red Oak home?? HELP ME (Dallas: appointed, for sale)

[laredodallasgirl]

Okay, I have a very nicely appointed, relatively new home (3yrs old) on the market now for almost 6 months and I've had O-N-E inquiry on it... ONE! The home is located in a nice neighborhood in Red Oak (Harmony), the home is nice looking on the outside and in (not that anyone would know... because NOONE WANTS TO SEE IT on the INSIDE! ). Details, approx. 3100 sq. ft. at $ 224k, 4 bed + study, gameroom, granite countertop kitchen, built by Newmark homes in dec. 2007......so what gives? any ideas?

[nsumner]

A simple answer... You are competing with the new construction. My office has 7 listings in your community. A couple of them sold in less than a month, the others are still on the market but less than 3 months.

Your pictures look great. You're priced competitively, some might think that you're overpriced because the home is still 3 years old.

I would suggest that you list the upgrades you have and features you have that the builder doesn't have in their specs.

Naima

[FalconheadWest]

1 inquiry in 6 months? You agent isn't marketing. That has nothing to do with being in a neighborhood with new construction because people would still come look at the house just to compare. Can you find our house when you search online? If you can't, neither can other buyers.

[loves2read]

you bought at top of the market
the market has fallen
you will be hard pressed to make money and sell lower than builder's price
agree your agent is waiting for people to come to her vs trying to market the house--if others have sold yours is probably priced higher -- maybe too high
this is just a slow market

[laredodallasgirl]

So what do I do? I think that an open house would be useful (realtor doesn't think so)? Do I switch realtors when contract is up (less than 30 days)? Should I lower my price to the point where there is NO room (or very little --i.e. a couple thousand only) for negotiation? My husband is commuting quite a bit north and we would really like to move soon.... thought we'd be out of here by now I am even offering a $3k bonus to buyer's agent for full price offer and $1500 if lower than full price and still NOTHING's coming thru........

[**NoodLes**]

The country's in a recession right now, you think the market might be down? Just a thought.

[momof2dfw]

Originally Posted by **NoodLes**

The country's in a recession right now, you think the market might be down? Just a thought.

Along w/ Location, location, location. The Dallas market isn't that bad and neither are the closer in suburbs. The areas that are hurting around here are the far flung burbs that overbuilt. This location is too far from many people that work in the city centers core or other high employment areas. A lot of people moving into the area want to be closer in as they are tired of the long commutes, closer to public transit as an option and other variables that make the far flung locales unappealing. House could be dang near perfect and it still isn't going to matter if they don't want to make that daily drive.

[SouthernBelleInUtah]

My friend and RE agent told me that open houses are mostly for the agent to get new clients, people who are "just looking" and don't have an agent yet. However, real buyers can also come in - a friend of mine got her buyer at an open house on the last week of her 6-mo. contract w/her agent. "Rarely" is not "never"!

I do think you need another agent and maybe a different company as her broker should have been prodding her to do more. ONe way I used before was to drive around my neighborhood and see who had "sold" signs on the for sale signs and note the company/agent. More than a few means that's a successful agent.

Although as noted, it's a tough time now and I don't know anything about where you are located.

[Rakin]

Open houses are not effective anymore with the internet (and not very safe either). A predicament you have is that area was selling to a lot of 1st time buyers and it's impossible for many of them to get a loan today with marginal credit.

A major, major, major factor is the builders if they are still in your area.. Many have lowered their prices and have all kinds of incentives to buy their homes. They are dumping inventory into cash and also trying to just keep some activity going.

Many are building cheaper homes or lowered their pricing 15-20%. I'll bet someone can go buy your exact home (or similar) cheaper than you can sale yours.

You do need to have your price at the bottom. There are a lot of homes to choose from and not as many buyers out there right now.

[5stones]

3 year old home is hard to sell for many reasons.... but top is as other have said the builder is still building BRAND new houses.
even its a little more someone is going to want NEW over 2-5 years old. Unless as Rankin states you price yours at the bottom. (and at only 3 years you probably can't even re-coup closing cost etc...)

Pre-existing homes sell better once the area is built out and the builders aren't there anymore.