Any ideas on how to sell in this market??? (Clermont: mortgage, equity)

[cdrako]

I actually don't want to go, I love it here and the last thing I want to do is shovel snow again but my mom is sick and I need to go back north - lost my dad 2 years ago but at least he had my mom with him.

I'm really at a loss on how to sell - I'm in southern clermont, 4 corners area where there are tons and tons of other homes for sale - had a couple of realtors come in and love it - say it should sell easy if we could get people in the door to see it but that's the problem.

I considered renting it out and had a number of people interested after looking at photos but I really need the little bit of equity I have to pay for the move and to have a couple months in reserve while my husband finds a job.

Any ideas???

[CJFlorida]

Sorry to hear about your situation. But there really is not much for us to tell you. You see all the for sale signs, obviously this is not a very good time to have to sell.

All you can do is find a trustworthy local realtor and let them tell you what a realistic selling price is.

Good luck!

[Rich_CD]

Originally Posted by cdrako

I'm really at a loss on how to sell - I'm in southern clermont, 4 corners area where there are tons and tons of other homes for sale - had a couple of realtors come in and love it - say it should sell easy if we could get people in the door to see it but that's the problem.

Any ideas???

You want people who are willing to buy coming in. You don't want just anyone. I've had realtors take me to homes that are above my $/sqft range. I "can" pay much more, but I'm *NOT* going to, end of story. No reason to look at homes above my range.

[right-here-i-say]

Sell at 2003 prices. That is the market now. Ask yourself, with all the other homes for sale, what would YOU buy your house for if you were moving to Clermont right now and looking for a home.

[70Ford]

Flip the coin. Move your mom down to where you live....

By the time you figure how much money you'd "lose" by moving...wouldn't that pay to move her down?

I moved to Seattle from Georgia, solo, with a 26 foot Uhaul and a car carrier. I don't suggest your mom do that. I did price it out, though, and to move my home was going to cost me about 7,000 bucks if I paid a moving company. So, it's doable. And it's just an idea.

Why do you have to upside-down *your* life?

[DessertRat]

Idea to sell? Yes, lower your asking price. If you lower it enough, you'll sell.

I'm in the market to buy, and I see plenty of homes that I still consider ridiculously overpriced. The market was absurd with inflated prices a few years ago. The owners take a bit of a loss and think they're giving buyers a steal, but the homes are still overpriced from a buyers' perspective. Unless you've only been in your home a very short time and/or took an interest-only mortgage, you should still do okay financially by lowering your price more.

[nickindependence]

I am very sorry to hear about your situation. There are a number of things you can do, some of which has already been mentioned. PRICE, PRICE, PRICE. In todays market it is important to set your price at fair market value. When i run comps because there are areas where a property hasnt sold for 12 months you cant rely on the price they were selling at then. Look at whats on the market now and how much they are listed at and be realistic with your pricing. Altough people slam realtors (and i am a realtor....lol) if you choose a good one they will go through this with you. There are over priced homes out there but generally speaking you can tell these because they have been on the market along time with no reduction in the price. These people are just fishing to see if they can get what they want, whether its realistic or not is up to you, but some are in a position where they can afford to wait and only sell for the price they want and some are just plain stubborn (its a fact of life alas).

The second is with the market as it is you have to enlarge the circle in which your property is being marketed. EG. I offer extensive marketing here in the US but as i have mentioned in other threads i am from the UK originally so i market over there and have raised my profile so more people see the properties. Interview your realtor and see what they can offer you. Marketing overseas is a huge benefit esp as there are still vast amounts of tourists buying here.

Finally do your homework, select a Realtor who is going to tell you how it is. would you rather have a realtor who is going to kiss your ass and till you everything you want to hear and not get the property sold, or tell you you need to do x y z and lower your price and get the property sold.

I hope this helps.

Nick