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Okay..I have posted before and yes, I still have not sold my house in Apex! I believe we have had 56 showings in the almost 4 month timeframe, and yet not one single offer. Our house is very clean and shows well(I have the countless feedback to show it), has been reduced in price once by 8K and will soon be another 7K (all in all 15K), which will take it down to approx. 235 for almost 2100 sq feet. We are at the top end in terms of square footage so the smaller homes are selling, even at a much higher price per sq. foot.
I know the market is nowhere near what it was just last summer and the only thing that I can possibly think of is the price. It would be one thing if it shows terrible, is cluttered, etc. However, our agent even had 2 other agents that they know come view the property and they had 0 suggestions.
Do any of you all have any comments or suggestions about how to get an offer? I greatly appreciate it!
What are the people from the showings telling you? You need to find out from them what kept them from moving forward. Of course none of those people may have been ready to buy. There are a lot of people out there "just looking".
Okay..I have posted before and yes, I still have not sold my house in Apex! I believe we have had 56 showings in the almost 4 month timeframe, and yet not one single offer. Our house is very clean and shows well(I have the countless feedback to show it), has been reduced in price once by 8K and will soon be another 7K (all in all 15K), which will take it down to approx. 235 for almost 2100 sq feet. We are at the top end in terms of square footage so the smaller homes are selling, even at a much higher price per sq. foot.
I know the market is nowhere near what it was just last summer and the only thing that I can possibly think of is the price. It would be one thing if it shows terrible, is cluttered, etc. However, our agent even had 2 other agents that they know come view the property and they had 0 suggestions.
Do any of you all have any comments or suggestions about how to get an offer? I greatly appreciate it!
Price is definitely the number one thing that will get more buyers in....but again without seeing it I have no real answers, but I will say that some of my listings are showing a lot, but offers are stagnant and some of my listings hardly show....just hang in there and reduce if you can. Buyers know they have the upper hand now.
For the record the smaller the house the price per sq. ft. usually goes up a bit ....more sq. ft. price goes down a bit.. hard to explain, but it's kind of like the law of diminishing returns.....That is why you can't just look at tax records and price a house just on sq. ft. You have to compare apples to apples. Compare the price you are asking to other homes the same size that have sold in the last 3-4 months....that is where your price should be.
Have you had second showings? That to me would be a good indication that you're getting close. Also, is your realtor using Central Showings and if so do you have access to the online feedback? They are using a survey now and if the buyer's agent fills it out you should understand why you're not getting an offer. I can't see how you could be too far off price wise if you're getting so much activity. Hang in there. I can relate because we went through this for two months but went under contract three weeks ago. As far as the comparison of FV to Apex, apples to oranges.
Look at why people buy:
They like it (it shows well and is in a good neighborhood)
It's a good value (price vs competitors' pricing)
It's easy to buy (think "No Payments for a Year" or "No Interest for a Year" car and furniture come-ons)
Are you offering incentives? Are you offering seller concessions to help pay the buyers' closing costs? I tell my clients that they need to make it "easy" for someone to buy their property. Once "easy" is taken care of it comes down to price, price, price.
Speaking of "no payments for a year"....someone I know just sold their house here in MA---it had been on the market for over 8 months. They were going to reduce the price about $20K but decided to offer "interest only" payments for a year for the buyer. That comes out to about $15K, depending on final interest, price, down payment, etc.
After advertising this, they got 3 offers and a bidding war on their house. IN THIS TERRIBLE MARKET!
I am just saying this because That is the price range we we looking in. We are probably 20 miles away from his house and got ~900 more square feet.
It is a tough time to sell in this area since there is a boat load of new construction to contend with on top of Resales.
I just searched a Real estate site and pulled 112 listings for SFH in Cary, Apex and Holly spirings 220 to 240.
Not everyone is willing to drive an extra 20 miles for an extra 900 sq ft. That's the wonders of the market. I drive 4 miles to work and if I could shorten my commute, I probably would.
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