Is now a good time to sell? (for sale, how much)

[yasnai]

I have posted on here before and stated that my house is on the market. Let me start off by saying that I know some key factors killing my sale of my home. The subdivision that I live in is not at all what I expected it to be and is probably hurting the sale of my home. Therefore I know location plays a key role in my situation.

But I have a question how is the market here in Indy? Are there homes out there that are selling for fair market value? I am just curious. I know that homes are really not selling in my subdivison and I know the reasons why. I was just curious what was going on in other areas. Any Realtors out there I welcome your feedback.

Next question, it seems that we are stuck in the home that we are in. I would like to know what updates we can make to our home that will not be a waste of time and money on our part. The subdivision we live in really doesn't have a lot of granite or anything like that. So I know we will not be doing that. I just feel like if we are stuck here for another couple of years maybe there are somethings we can do to our home to make it more appealing to us and future buyers. Let me state that my home is only 2 years old so it is fairly new.

Thanks to all who reply!

[1BigBear]

Im sure M~Jayne or some of the other realtors will comment, but I'd say NO WAY. UNLESS YOU'RE READY TO TAKE A BEATING~~ The market is flooded with houses here on the Swest side. Probably the same all around the loop. Building a Brand New home is almost a better deal now (with all the desperate builder bonuses out there) than picking thru dozens upon dozens of 2-10 year old homes ~that are everywhere. ($200-250,000 range that is. --Good Luck..! The only 'safe' bet with anything NOW- is that the sun will continue rising in the EAST and setting in the WEST. Forget anything else...even after the election... !!!!!
OMG ~ but that's another topic though ? huh?

[AGreekDude]

Originally Posted by yasnai

I have posted on here before and stated that my house is on the market. Let me start off by saying that I know some key factors killing my sale of my home. The subdivision that I live in is not at all what I expected it to be and is probably hurting the sale of my home. Therefore I know location plays a key role in my situation.

But I have a question how is the market here in Indy? Are there homes out there that are selling for fair market value? I am just curious. I know that homes are really not selling in my subdivison and I know the reasons why. I was just curious what was going on in other areas. Any Realtors out there I welcome your feedback.

Next question, it seems that we are stuck in the home that we are in. I would like to know what updates we can make to our home that will not be a waste of time and money on our part. The subdivision we live in really doesn't have a lot of granite or anything like that. So I know we will not be doing that. I just feel like if we are stuck here for another couple of years maybe there are somethings we can do to our home to make it more appealing to us and future buyers. Let me state that my home is only 2 years old so it is fairly new.

Thanks to all who reply!

Where is your house at and what neighborhood? I could probably help you but I'm much more of a visual person and would have to see it. I took my crappy $35,000 home and completly renovated it for under $6,000 of course doing the work myself. I know a lot of cheap tricks that could help you out but sorry to say the market is horrible so your house will have to be PERFECT to sell.

[MikiJayne]

There are still things selling, and sometimes they are even selling fast! I just saw a listing in my neighborhood sell in about 1 month, and we are not far from you at all. It isn't common for things to sell that quickly, but it is still happening. We are still selling houses almost every day in my office.

Things you can do... it depends what YOU want the house to be like. Sure, they say that kitchens and bathrooms are where people are impressed, but you're right not to want granite or anything like that. What improvements do you WANT? If you're going to be living there, might as well make it comfortable for yourself.

One more thing... I didn't look at how long you've been on the market, but if it is only coming up on 6 months, I would re-list if I were you. Most of the houses I've seen are selling in 7-9 months. Really made me crazy when I had one listed for 6 months, the guy jumped ship, listed with another agent who had less marketing than me and the same price and it sold right away!

[sweetana3]

I always think that landscaping makes a big first impression. If the grass is not green, edged, properly sized and weed free flower or shrub beds, I am really turned off. It does not take a professional but needs perfection. All totally doable by the homeowner at very little cost. You can always tell when a homeowner really cares about the home and its appearance even before going in the home.

[Zoo Animals On Wheels]

In addition to all the other factors currently working against homesellers, we are just entering the absolute worst time of the year to put a house on the market: the period from November through March or April.

It's cold and nasty so nobody wants to go out, the kids are tucked away in school and moving now would mean yanking them out and starting them in a new school district in the middle of the year, and nobody has any money because of Christmas.

Not trying to be relentlessly negative, but the answer, quite simply, is NO. It is not a good time to sell a home.

[jodyrose]

Hi,

First off I agree with some points the other posters made and some I do not. I got my RE license at the start of the downturn 2 yrs ago (lucky me, heh?) and there ARE still things selling out there, sometimes in the matter of days. Allot depends on your price point ..if your home is in the 200K range and up, then yes, you have competition. You are not only competing with the other pre-owned homes, you are competing with the new construction. Regardless of whether you stay in this house or not, declutter, declutter, declutter...and did I say declutter??? Make sure your house looks like the BEST house on the street from the outside. DO NOT over improve your home for the area. Things I hear buyers liking are simple closet organizers, simple paint, clean clean clean. Someone else mentioned curb appeal, its crucial! Clean carpets, freshly painted walls go along way. No faux finishes, just a nice neutrally painted house all the way through, this includes your kids rooms. Buyers right now do not want to do a THING prior to moving in, especially in the 200K price range. They expect it to look and feel perfect from the get go.

I dont know who your agent is, but if they have not said these things to you, it might be that you need a more agressive agent. Also you need to know if the agent is up on the latest trends in marketing your home online. Do they Twitter, do they belong to Active Rain? Trulia? How many websites do they have your home featured on? On the market analysis they prepared for you prior to listing, was the data they gave you up to date (no older than 90 days, preferrably not more than 60). Ask them what the absorption rate is in Indy right now. Are you getting weekly updates from them?

Its not the best of times to be selling a home, but there are lots of folks out there that WANT to sell, but who are doing like Zoo says and NOT selling. At the first whisper of a recovery, they will be listing their homes for sale too, so waiting is not necessarily a good thing either. The other thing to consider is..you mentioned the neighborhood is not the best...well, how much better do you think its going to be in another year or two??? You might be better off taking a bit less now and getting out before it deteriorates even more.

Good luck to you in whatever you decide to do!

[yasnai]

Thanks for the tips guys!

Jody Rose thanks for your tips as well. My house stays decluttered. I declutter my home on a monthly basis so that is not an issue. My home is very well organized and totally clean. My home is only listed for 169K so I am not in the 200K range. I have a few things that I will do to my home to make it even that more appealing. All of your suggestions were great though and I truly appreciate it.

I think we will take it off the market next month to enjoy the holidays and then put it back on in the spring perhaps with a new agent.

Thanks to all who commented!

[domergurl]

Originally Posted by yasnai

Thanks for the tips guys!

Jody Rose thanks for your tips as well. My house stays decluttered. I declutter my home on a monthly basis so that is not an issue. My home is very well organized and totally clean. My home is only listed for 169K so I am not in the 200K range. I have a few things that I will do to my home to make it even that more appealing. All of your suggestions were great though and I truly appreciate it.

I think we will take it off the market next month to enjoy the holidays and then put it back on in the spring perhaps with a new agent.

Thanks to all who commented!

That's what we did ... took it off on November 1st and put it back on April 1st and it sold by April 13th ...

[yasnai]

Thanks domegurl that is encouraging, hopefully we will be able to sale ours too!