Why is my house still for sale? (Burlington, Buena: appointed, real estate market)

[NewHomeHappy]

Our home went on the market (MLS) in July 2006. It's less then one year old, new construction located in Columbus in Burlington County off Rt 206. Not over priced. We put in many upgrades that I chose (granite, gourmet kitchen, SS, finished bsmt) Our lot is 1.5 acres. Nice neighbors, kids etc. Just 2 miles to NJTP at exit 7. But the Real Estate Market is so horrible right now that we barely have any appt's for showings. The Open House (we had several) produced only a handfull of people. I am so upset, disappointed & sickened by this. If you have any marketing ideas or are interested in buying a gorgeous home, please take a peek at mod cut. Thanks for listening & letting me vent. I'm praying for a buyer.

[Barbsdesk]

How many OH's could you have had? Your home was only listed for a few weeks. It's too early for you to be "upset, disappointed & sickened". I checked it out on Realtor.com and your agent seems to be an accomplished professional. Talk to him. Tell him your desire for a fast sale. And then TRUST your agent.

[mattnyd]

Originally Posted by NewHomeForSale

Our home went on the market (MLS) in July 2006. It's less then one year old, new construction located in Columbus in Burlington County off Rt 206. Not over priced. We put in many upgrades that I chose (granite, gourmet kitchen, SS, finished bsmt) Our lot is 1.5 acres. Nice neighbors, kids etc. Just 2 miles to NJTP at exit 7. But the Real Estate Market is so horrible right now that we barely have any appt's for showings. The Open House (we had several) produced only a handfull of people. I am so upset, disappointed & sickened by this. If you have any marketing ideas or are interested in buying a gorgeous home, please take a peek at MLS#4722713 listed at remax. Thanks for listening & letting me vent. I'm praying for a buyer.

Just a month? That's nothing. My parents house was on the market for 2 years, and it was identical to yours. Picky people is all. Be patient.

[NewHomeHappy]

I just double checked my datebook. So far we have had SEVEN open houses. Our home went on the market at the end of April 2006. Exact lisiting date unknown but our first OH was April 30th. Sorry if I was not clear on the dates & length of time. Thanks for the reply.

[NC little foot]

My realtor has informed me the average house will now sell in 6-9 months, unlike the last 3 years were 6-9 weeks was more the average. Market is way down. Give it more time, don't fret over the open houses, less then 1% of homes is ever sell during an open house. Neighbors and competitors are the majority who come to Open Houses.

[NewHomeHappy]

So does anyone have any wild marketing ideas? I'm thinking out-of-the-box ideas i.e Print up a flyer on Red paper & post in designated areas. Flyer could read: Open House w/Free Food & Raffle? Hire a clown ? I'm leaning towards constructing a body billboard and marching my husband up & down Rt.206

Thanks for the replies & I'm trying to think positive but the thought of carrying 2 mortgages thru the winter is horrible.
What have other couples done that were in this same situation?

[tlucygirl6]

I currently reside in South Philadelphia and we also put our house up for sale in July. It is currently still up with the same issue, no possible buyers. We have just switched realators and are planning on having an open house soon. We currently have a bid in on another property in Buena, NJ and need to sell mine in Philly by 9/15 or we loose our bid. So trust me you are not the only one with this problem. It is very frustrating I know. Did you try St. Joseph? We have two of them in the house and I pray to him every day. Hope it works out for you.

[AntoinetteNJ]

Hi folks,

Unless you're in the market to buy a home, it's a frustrating market for sellers & realtors alike (unless you're working with a good # of loyal buyers!). Jefferson Twp. where I live has just over 200 homes available & it'll take 11 months to absorb all the inventory. As for Burlington County, contract sales are down 8%.

Did your realtor hold a BROKER'S OPEN HOUSE??? WITH FOOD??? The most important audience to you right now are other realtors as most homes are not sold by the listing agent, but by cooperating agents. I've found if you feed them, they will come...

Have there been ANY sales in your development, and what did the homes sell for? Are you offering a full 6% commission? If the commission split is 2% or lower, you're doing yourself an injustice. Most realtors, outside of Foxtons agents, earn their income via commission only. So a higher commission split is a great incentive.

Further, your home is a perfect 'relo' house....a newer beauty in a homogenous neighborhood, so it will appeal to that market as well.

Please keep the faith! As you probably have heard ad nauseum, the real estate market is undergoing a stabilization period, with people very nervous about buying. Appreciation is flat lining for the first time in YEARS. Anyone who bought in 2005 and wants to sell quick now is most likely not going to get what they paid for their home.

Good luck with everything and keep the lines of communication open w/your agent.

Antoinette

[pixieshmoo]

The best thing you can do is find the right agent. Any good agent will work FOR you, get the advertising out there, etc. However, the market really has been slowing down a bunch...for example in my town it looks like there are more homes for sale than not. On one block alone there are 12 homes up for sale. The problem is people see what other people are getting and decide to put their home up (of course there are other reasons involved in the decision too). However, there is now an overabundance of homes for sale and unfortunately some are taking longer to sell. In addition, as time passes, there's always the possibility that your home may be slightly overpriced, at that point, you may choose to come down in your asking price. I wouldn't worry at this point, 2 months isn't long nowadays and again, you are not alone in that aspect.

[christina0001]

Honestly I don't think it's your house or your realtor. The market has slown. Houses are expensive in this area (I am in Robbinsville, in southern Mercer), less than 20 minutes from you. Columbus was more affordable 5-7 years ago and now the prices have skyrocketed and it's not the popular place to move to like it used to be. There are many, many new or almost new houses on the market for sale at "fair" prices (your house is only worth what people are willing to pay for it!). You do have an advantage IMO - that is a large lot for this area. It will probably take a while before it is sold. Best of luck.