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Old 05-29-2007, 10:30 PM
 
73 posts, read 229,396 times
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Sorry for the vent, but my house is up for sale and I can't take the market standstill! I live in Islandia (LI) and I know that it's not the most spectacular area but still. Our house is a 5 bed/2.5 bath home that has been redone but nothing! We have no offers, no calls, no leads. We have even offered our pool table and 48" TV as incentive. Can anyone give me any helpful hints to get some bites? We are working with an agent who has been sending out mailers, advertised in Newsday and had an open house (there's another one this weekend). What else can we do?????
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Old 05-30-2007, 09:20 AM
 
3,077 posts, read 4,989,904 times
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Default Real estate cornerstones.

I'm plagiarizing a bit with this post but here it goes.....

There are several reasons why a house doesn't sell:
- Price
- Location
- Condition
- Agent

My experience is that the first three ultimately result in price being the culprit. If the price is too high, drop it. If the location is less then desirable, drop the price (because you can't move the house). If the condition is poor either upgrade or (I hate to say it again) drop the price.

As for the agent, I am absolutely certain that a good agent sells houses. They'll make sure it's priced right (taking into account market conditions, location and physical condition), they'll generate interest, work the phones and navigate the very choppy waters of Long Island real estate.

If you're working with a competent Realtor and following their advice then you should be able to sell your house.

I read a Newsday article years ago in which a Real Estate expert stated that "houses that are priced right sell. Houses that sit are not priced right".
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Old 05-30-2007, 09:30 AM
 
Location: Rural Central Texas
3,581 posts, read 9,000,834 times
Reputation: 5402
If you are getting no calls and no leads, then either it is a secret that it is for sale, or there is obviously something about the property that permits people to disqualify it immediately. Since it is likely that it was listed with an agent that is a member of the Multiple Listing Service, every agent in the region has access to the listing data, so it is unlikely that nobody is aware of the house.

That only leaves the option that it is being dismissed as a viable option. Since they have not seen the interior, and I hope the curb appeal is at least equal to all of your competition, that only leaves either the homes room stats or price. So, unless your home is very unusual by way of odd design, extremely small room sizes or number, or is in an extremely horrible area of town....only price will have that large an impact.

Think about when you go shopping for groceries. Most products are very similar and can only compete on price and personal preference. Very often you can be persuaded to purchase a brand you "like" less when the price difference is sufficient. This also applies to housing. Educated buyers very seldom buy houses because they fell in love with the drapes or the yard is very nice, unless that is the ONLY difference between their choices. More often they decide based on price and financing options.

The only thing you can control is price. Drop the price to a point where you are a better bargain than your competition and dress it up nice and you will get the lion's share of traffic.
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Old 05-30-2007, 09:42 AM
 
3,077 posts, read 4,989,904 times
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Default I'm stumped.

Quote:
Originally Posted by NYC2RDU View Post
If you're working with a competent Realtor and following their advice then you should be able to sell your house.

I read a Newsday article years ago in which a Real Estate expert stated that "houses that are priced right sell. Houses that sit are not priced right".
It's probably poor form to quote yourself but I just checked out the listing at MLSLI and I'm thinking it may be the Realtor. The house appears to be priced correctly, looks to be in great presentable shape and has good location for Islandia.

For the Long Island market your house is about as close to a bargain as can be found.

Unless there's a horrific odor emanating throughout the house or a dog pound next door it doesn't make sense.

I wish you the best of luck in figuring it out.
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Old 05-30-2007, 11:31 AM
 
991 posts, read 4,150,930 times
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You know what makes me crazy with these real estates? For the commision they get if and when they sell the house, they really do not do much. The other thing that makes me nuts is that when i had my house listed year, there CMA's were houses that were in my opinion not compatible mine, they looked like they had not been touched in years. They were on a main road, while mine is on a cul de sac, you are telling me that a person would rather live on a two lane highway adjacent to Sunrise hwy than one dead end? In the same school district? My friends house is for sale in Medford, yet houses that are selling on a very main road for more money than hers, and hers is gorgeous, inground pool, brand new kitchen and two new baths for less than 350? These other houses are old and need total renovation. She had her sister go to the open house and the realtor did not know it was her sister and guess what hee sister said that the realtor was totally disinterested in selling the house, she said oh you can look around if you want. I cannot stand these people.
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Old 05-30-2007, 11:38 AM
 
73 posts, read 229,396 times
Reputation: 58
Thanks NYC....that was a nice post. The price is what the agents caravan suggested...we redid the house over the last few months and I spent ALOT of time watching "Designed to Sell" LOL. I'm hoping that the open house this weekend generates something...anything. We are even offering incentives. We are offering help with closing costs and are even throwing in a great pool table and 48" TV. The thing that's killing me is that I DO love this house....I just don't want to live on Long Island anymore. We are sooo sick of the NY winters (although this one was NOT bad at all lol).

And...NYC...thank God we aren't next to a pound LOL!!!


Thanks so much for the input!!!

Last edited by Marka; 06-07-2007 at 04:31 PM..
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Old 05-30-2007, 12:19 PM
 
5,265 posts, read 14,562,066 times
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So where are you trying to move to?....for the love of God please don't say North Carolina!
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Old 05-30-2007, 01:45 PM
 
138 posts, read 532,443 times
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I completely get where you are coming from. MY home has been on the market for almost 9 months now. I'm so sick of the lack of interest.
I was in a contract with the realtor for the entire 8 months and didn't care for how he "advertised" hardly at all. I now am researching for an aggresive realtor. I have lowered the price and still nothing.

Seriously I have 4 homes for sale in my neighborhood mine is the lowest priced but the nicest. Moderator cut: no details, please
Every agent said my house would sell immediately.. OK well????

I'm so fed up.

We have another house we are purchasing but are so stressed that our current is not selling.

I'm in Manorville and there are over 140- homes for sale in Manorville.

I can't take it anymore.

Last edited by Marka; 06-28-2007 at 03:46 AM..
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Old 05-30-2007, 02:31 PM
 
254 posts, read 948,387 times
Reputation: 82
Quote:
Originally Posted by i'minformed View Post
So where are you trying to move to?....for the love of God please don't say North Carolina!
LOL! Isn't that where eveyone is moving to? (we live there btw but being transferred to Atlanta )
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Old 05-30-2007, 07:13 PM
 
77 posts, read 369,528 times
Reputation: 44
I would just like to add that while price might be the FIRST or main thing that comes to the minds of those who are buying - - everyone wants something for nothing - - the price is just a NUMBER and in most cases is very negotiable. I think the agent or the FSBO, whomever, must sell the VALUE in the home and few people are able to do that well. It is useless to have agents come in and with their magical market analysis compare houses simply based on the number of bedrooms and bathrooms, but many do it this way. We all know there is so much more to consider as everyone above has stated. I'm sorry to say I do not have a very high opinion of realtors on Long Island; my first visit here proved some clearly do not know what they are doing. They either couldn't find the house I wanted to see or they didn't set up an appointment properly. I went out with 8 different realtors and saw 50 different houses - I asked to start in Bohemia and only wanted to look at houses - NOT condos, right? Being new to the island I took my map with me where ever I went and was not fooled one bit when I found myself looking at a CONDO in BAITING HOLLOW ! ! C'mon, who are they kidding? I said I needed a two-car garage - I was driven up to a house with a one-car garage and told there was plenty of room to add on. . . ok? I didn't want to do major renovations. I saw a home that was a rental (by the ROOM) - laundry all over the living room furniture, dishes in the sink, messy bedrooms, YUK. Doesn't it make you wonder who are the buyers in today's market and what agents are driving them to places and houses they do NOT want to see ?? The housing market is not good here but it's not good in many other places either. I can't explain it, but what would be good is to get some discussion going here with those who ARE in the market for a new home. Anyone moving into the area? Anyone interested in a newer home or one maybe in a more open, country area? Or do some want to move closer to the city? To the north shore or the south shore? Maybe what they are looking for they can't find - I found that to be very true for me. I had very specific things I wanted in a home and it was very difficult to find here. But that's because I came from out of state and what I wanted was not all that common here. And don't even get me started on why realtors do not handle the contracts and you need lawyers to do this. That is so archaic I couldn't believe it when I found out. I agree the realtors here do NOT earn their money - do NOT - but the real question is, how can we get the really interested buyers to come forward?

Last edited by NY652; 05-30-2007 at 07:23 PM..
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