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Old 05-01-2008, 01:36 PM
 
Location: Chaos Central
1,123 posts, read 2,528,310 times
Reputation: 823
It's tough when you want to sell "now" but lowering the price doesn't seem to be an option.
I think I'd try switching to an excellent agent with proven track record in your area (as far as possible in this market....) before giving up entirely.

We reached a point at least 3 times where it didn't seem possible to go any lower, but each time we carefully reconsidered the pros and cons, bit the bullet and lowered the price, and eventually we did find a buyer. It wasn't the amount we wanted, but considering the current economy we were lucky to sell at all. For us the financial disappointment was outweighed by being able to get on with our lives and make a fresh start instead of sitting trapped in a place we no longer wanted to be. Intangible things also have value.

The scary thing? Out of curiosity I've kept on eye on prices in our former town, and since we sold last year, unforeclosed homes similar to ours are now priced $40,000-$60,000+ less. If we had not sold when we did --- when we thought we were already taking bottom dollar --- we definitely could never afford to sell or move now. Who knows when prices will rebound.

Your new agent should be able to give you a rough idea of what your price needs to be in order to sell in X number of months. In other words, if your house is marketed properly and aggressively, is there a reasonable expectation of being able to sell at the price you want this year?

Feeling your pain and hoping for the best!!!
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Old 05-01-2008, 03:57 PM
 
Location: Maine
5,054 posts, read 7,696,922 times
Reputation: 1827
The agent we'll probably go with has been involved in probably 90% of the sales in our town over the last 6 months as either the listing or the selling agent. He's apparently doing something right. No-one else here is doing anything close to that.
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Old 05-01-2008, 07:10 PM
 
441 posts, read 564,567 times
Reputation: 639
El, I really, really hope your dream comes true soon.

What is a Director II (D2)???
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Old 05-01-2008, 07:15 PM
 
Location: home is in the heart
231 posts, read 387,273 times
Reputation: 181
Quote:
Originally Posted by Boomerang View Post
It's tough when you want to sell "now" but lowering the price doesn't seem to be an option.
I think I'd try switching to an excellent agent with proven track record in your area (as far as possible in this market....) before giving up entirely.

We reached a point at least 3 times where it didn't seem possible to go any lower, but each time we carefully reconsidered the pros and cons, bit the bullet and lowered the price, and eventually we did find a buyer. It wasn't the amount we wanted, but considering the current economy we were lucky to sell at all. For us the financial disappointment was outweighed by being able to get on with our lives and make a fresh start instead of sitting trapped in a place we no longer wanted to be. Intangible things also have value.

The scary thing? Out of curiosity I've kept on eye on prices in our former town, and since we sold last year, unforeclosed homes similar to ours are now priced $40,000-$60,000+ less. If we had not sold when we did --- when we thought we were already taking bottom dollar --- we definitely could never afford to sell or move now. Who knows when prices will rebound.

Your new agent should be able to give you a rough idea of what your price needs to be in order to sell in X number of months. In other words, if your house is marketed properly and aggressively, is there a reasonable expectation of being able to sell at the price you want this year?

Feeling your pain and hoping for the best!!!
this is so true, great advice... we had our house on the market, and someone offered about 20,000 under our asking price (last June). We didn't accept the offer, but now we laugh (or cry) because their offer would be considered very high these days. When its time to go, just go if someone gives you the chance, don't wait around too long! I know this is a very generalized statement to make, but atleast keep in mind you are selling for less and also buying for less.
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Old 05-01-2008, 07:40 PM
 
Location: some where maine
2,059 posts, read 2,525,124 times
Reputation: 1228
keep your chin up EL keep listing it will sell. when you least expect it poof your packing your things and headed north.good luck.
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Old 05-01-2008, 08:54 PM
 
Location: Montville Me
182 posts, read 300,732 times
Reputation: 84
Agreed, keep it on the market, find a new agent. Reserve the right to toss them after 30 days if you feel they aren't doing the work.

It took 2 years for us to sell. We kept it listed the whole time but tried diff agents and FSBO. Over the course of the whole ordeal we were showing sometimes 5 times a week. We got 3 firm offers with deposits. The first two fell through, the second buyer extended closing dates for a month after we had packed everything and moved out. Disappeared leaving us with a deposit check that bounced. Nearly bankrupted us! We caught the third buyer a week after we moved back in and sold for $30,000 above what the first sale would have been.

Hang in there, someone will buy it!
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Old 05-02-2008, 12:31 AM
 
Location: Louisiana - someday Maine
473 posts, read 870,951 times
Reputation: 310
Quote:
Originally Posted by Elcarim View Post
The agent we'll probably go with has been involved in probably 90% of the sales in our town over the last 6 months as either the listing or the selling agent. He's apparently doing something right. No-one else here is doing anything close to that.
El,

RUN don't walk to your phone first thing in the morning and sign this agent up! Explain to him/her your situation AND get their feedback. We had a house for sale once AND it took forever. Finally, got a nice real estate person and she told me that we had too much furniture making the house look smaller! Well, we rented a mini-warehouse, called Goodwill and got a bunch of ___ out of the house. It sold not too long after that. Good luck. AND don't give up your dream. Life is too short not to live it the way you want.
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Old 05-02-2008, 09:56 AM
 
Location: Maine
5,054 posts, read 7,696,922 times
Reputation: 1827
Quote:
Originally Posted by ILUVMAINE View Post
El,

RUN don't walk to your phone first thing in the morning and sign this agent up! Explain to him/her your situation AND get their feedback. We had a house for sale once AND it took forever. Finally, got a nice real estate person and she told me that we had too much furniture making the house look smaller! Well, we rented a mini-warehouse, called Goodwill and got a bunch of ___ out of the house. It sold not too long after that. Good luck. AND don't give up your dream. Life is too short not to live it the way you want.
LOL! We did already take all the ____ to a storage room that is costing us $40 a month, but it did make things look much better around here. I'm about to take yet another load of ____ over there out of my hall closet that is looking somewhat like the wardrobe on Chronicles of Narnia! It needs some thinning out. It's really a great storage closet when people can see how much room is actually in there!

We do continue to scrub walls and baseboards, touch up paint, freshen carpets, etc. We're doing our part. Now we just need an agent who will do theirs!
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Old 05-02-2008, 12:07 PM
 
Location: Midcoast Maine
4,893 posts, read 7,060,073 times
Reputation: 3156
We've sold 3 houses so far. Each time, we tried FSBO, discount realtors, and/or less experienced realtors from big firms. Each time we couldn't sell until we listed with a "big name" realtor who had been successful for many years in our area. I know each market and seller's situation is different, but I'm convinced that it does matter "who your realtor knows". (Then again, maybe finding the right realtor is just dumb luck.) I started doing my homework here in NC, and when the time comes to list I hope we pick the right realtor again (AND market conditions don't completely tank here by then!) Anyway El, I really hope everything works out for you soon!

Last edited by lovemaine; 05-02-2008 at 12:40 PM..
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Old 05-02-2008, 04:44 PM
 
Location: Louisiana - someday Maine
473 posts, read 870,951 times
Reputation: 310
Hi El,

I just remembered another trip! Bake a cake, muffins, cookies OR buy a candle that smells like these things! Don't know why, but people seem to feel "at home" when they come to look at your house and smell something good baking! LOL What the hay - can't hurt.
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