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Old 12-08-2009, 06:13 AM
 
Location: The Beautiful Bluegrass!
619 posts, read 1,005,373 times
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OK, my property has been on the market with the same agent for over two years. It is a "white elephant" type of property, attractive to a certain few, although, being three acres, it could be attractive to others as well. My question is this- Is it better for me to pull it from the market for a while and relist, say in a few months, creating a "false" freshness, or change agents/realtor? My agent is a friend, and has done her share in promoting the property. I truly think the property, although useful for me for 30 odd years, is a victim of the changing times of LI.

As I'd like to remain anonymous here, perhaps IM me with any suggestions! Thanks!
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Old 12-08-2009, 06:41 AM
 
3,779 posts, read 6,628,943 times
Reputation: 2633
First thing I would look at is how many offers have reached you. Seems like some agents are trying to create a bidding war as I have personally seen in my house hunting.

If you are receiving no offers or barely any, get someone you know to contact the agent to see the house and then make a reasonable offer to the agent (even though the person is not going to buy the home). See if that offer gets to you. If the agent thinks the offer is too low, the agent may not be relaying that information to you. The agent should tell you of all offers even if they seem a bit low. I'd rather hear an agent tell me all offers, even if they're insane offers. That would tell me the agent is not withholding anything from me.

It also may be the price range of your home. Much higher ones don't seem to be moving too much.

Also are you or the agent requiring a prequal or preapproval from a certain bank? That is a huge turnoff. One house we looked at, the agent told us that we MUST get a prequal through a certain bank. Um, no, I don't think so. I'm going to get a preapproval from my own bank. I can't believe the audacity of some agents have in demanding to know our financials. If we do see something we like and make an offer and if we're told that we must do get something through a certain bank, we're walking away.

Are you missing any CO's? That is a huge turnoff too. It costs time and money to get them and most buyers are not going to.

Depending on how soon you'd like to sell, I would say take above into account and most likely go with another RE.
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Old 12-08-2009, 07:26 AM
 
9,808 posts, read 12,873,990 times
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This is a buyers market. That's what every person selling their home needs to realize. Watch Real Estate Intervention on A&E.

Also, I seriously doubt there have been no offers made, so your agent is most likely not relaying the low ball offers to you. You don't have to say yes. I'd get a new agent and relist.
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Old 12-08-2009, 07:34 AM
 
184 posts, read 681,497 times
Reputation: 88
I can only assume 3 acres of property equals $$$$$$ Taxes anywhere on Long Island.
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Old 12-08-2009, 07:55 AM
 
7,658 posts, read 16,138,605 times
Reputation: 1290
Quote:
Originally Posted by LifeInLI View Post
I can only assume 3 acres of property equals $$$$$$ Taxes anywhere on Long Island.
Thats the culprit.

That and Im sure its overpriced.

What sellers need to realize is that Banks are not lending like they used to. It all comes down to buying power.

Ducking out till Spring may not be a bad idea.

Crooks

Last edited by Crookhaven; 12-08-2009 at 08:17 AM..
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Old 12-08-2009, 08:00 AM
 
1,917 posts, read 4,467,512 times
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COMPS my friend. Check the comps in your area. This is the only way to accurately list your property.
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Old 12-08-2009, 01:54 PM
 
Location: Long Island
9,011 posts, read 18,222,439 times
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Quote:
Originally Posted by LifeInLI View Post
I can only assume 3 acres of property equals $$$$$$ Taxes anywhere on Long Island.

Actually, land normally is a small portion of your assessment. The improvements are what's causing a high assessment = higher taxes.
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Old 12-08-2009, 02:35 PM
 
7,658 posts, read 16,138,605 times
Reputation: 1290
Quote:
Originally Posted by Elke Mariotti View Post
Actually, land normally is a small portion of your assessment. The improvements are what's causing a high assessment = higher taxes.
In theory yes, but in actulaity you get your a$$ handed to you for larger plots on LI.

Crooks
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Old 12-08-2009, 03:29 PM
 
Location: Massapequa, NY
1,056 posts, read 1,562,836 times
Reputation: 58
Quote:
Originally Posted by Elke Mariotti View Post
Actually, land normally is a small portion of your assessment. The improvements are what's causing a high assessment = higher taxes.
not improvements but additions. the town wont tax you for putting new siding on your house or replacing windows but they will tax you for putting an addition on the exterior of your house or a portico.
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Old 12-08-2009, 03:53 PM
 
Location: Long Island
9,011 posts, read 18,222,439 times
Reputation: 4709
Quote:
Originally Posted by KENNY GUIDO View Post
not improvements but additions. the town wont tax you for putting new siding on your house or replacing windows but they will tax you for putting an addition on the exterior of your house or a portico.

Sorry, I used RE lingo; an improvement on land is a structure, be it a house, garage, addition to an existing house, inground pool, etc.

I was not referring to the type of improvements you're talking about...
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