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Just wondering. How many of you out there either bought or sold their home in the last 2 months and where and about what price range? We're trying to sell our house with no luck, there has been hardly any traffic. Should I just consider taking it off the market?
we're located in watchung, price million plus, on the market for about a month
Do you need to move, or do you just want to move? It is unlikely that the market will be any better this time next year. The next upturn in the market is projected to start in Mid 2010 but with the economy going into recession that could change as well. If you are trying to get 2006 prices for your home you likely will be waiting until 2015 at this point.
It is a buyers market, That means that there are very few buyers out there. on top of that the segment of the market that is selling the best happens to be sub 500K right now. If you are just out there hoping to get your price, with no real need to move, you are likely waisting your time.
Now that is untrue, we sold our within 90 days and got almost the asking price. There were two bids actually.
I agree because if the house sells then the price was most likely accurate and the sellers were right on the market. Now of course there are exceptions to this rule because some sellers give their home away but those are FEW and FAR between. I would actually love for someone to show me a few of those as I have a ton of money to invest.
Now unfortunately they will be uncomfortable but that is just something they will have to get used to because today, in order to sell a house, you must be priced aggressive. Housing prices doubling in the last three to four years is unheard of and I do not feel sorry for people that are complaining about making only $150,000 profit versus $160,000. That is where greed takes over. People do not realize that the longer they stay on the market, the more it costs them due to mortgage payments, taxes, maintenance fees and more. Take the 2% lower offer, and be happy.
Last edited by DodgeViper01; 05-23-2008 at 09:19 AM..
There is no way I would buy a home in today's market that's only 2% of the OLP, even if that home is priced well (near market value). Before you close, you already have lost equity on the thing
Right now, lowballing at 10% and more is the way to go, and I'm prepared to go 20% or more below...I have nothing to lose because we don't have to move soon - I'm one of those buyers from hell
Just wondering. How many of you out there either bought or sold their home in the last 2 months and where and about what price range? We're trying to sell our house with no luck, there has been hardly any traffic. Should I just consider taking it off the market?
we're located in watchung, price million plus, on the market for about a month
What you might want to do is get feedback on your listing. Send me a DM, I will give you a link to a board I go to where you can get great feedback.
I'm familiar with Watchung, my family owns the Delta station (lease it out), my dad's owned it since the late 60's. Watchung is a beautiful town, one that holds a lot of memories for me. The last time I was there was for the tree dedication in 2006, they were honoring my dad. I love how the town has a lot of community features.
Things to consider - your agent - do they have enhanced (multiple photo) listings on realtor.com? Do you have a virtual tour? How many photos does your agent have up? There is a thing as too little and too many. I as a buyer usually like 8 to 12. Anything more and I really don't need to walk your house as I've seen it online.
Have you checked your competition? Do you currently watch the local market to see if you are priced correctly?
Did you stage the house? Is there a lot of clutter in the photos?
Are the photos good / clear, with decent light? Look at your photos like you are a buyer, would you buy the house with the photos shown?
It's a brutal market & if you do not have to sell, stay put.
As a seller I did what ever I could, made my own fliers with a lot of good info suck as years we replaced things like the roof, AC, furnace.
Did you claim your house on zillow.com? Did you get decent comps there? List your agent as a contact?
Have you tried posting your house on craigslists?
There is no way I would buy a home in today's market that's only 2% of the OLP, even if that home is priced well (near market value). Before you close, you already have lost equity on the thing
Right now, lowballing at 10% and more is the way to go, and I'm prepared to go 20% or more below...I have nothing to lose because we don't have to move soon - I'm one of those buyers from hell
haha, of course. All depends on the list prices but overall everyone is lowballing now. Sometimes you can get a good deal. Client purchased a home in Lighthouse Bay (waterfront community) in South Amboy a while back for a SIGNIFICANT discount. They made an instant $100,000!! I wish there were more deals like that around.
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