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We have a property in the Albuquerque market which favors buyers today, but it is odd that after 4 months on the market there has not been a single offer (not even a lowball). After two title company tours we reviewed the evaluation forms from the agents and have completed upgrades/suggestions (added ceramic tile in 2 bathrooms, remove wall paper, paint neutral color over bold color, etc), still no offers.
What are we missing? Detailed photos can be seen at www 7624verona com
The most common reason for no offers is that comparable houses have you beat as far as price goes. In addition the second most common reason for no offers would be that people don't know the property exists. Is it listed with an agent? Is it on MLS? If it is on MLS are you offering a good commission to the buyer's agent? (A buyer's agent will just skip your house if they can make much more money on a similar house, so the buyer will never even see yours). Are people coming to see the house?
I just checked out your website. I personally don't like how it's set up... isn't all that appealing to the eye, but that's mainly the menu bar on the left. The photos, and how they are displayed is done very well. As far as the house itself, it looks amazing. I can't see how the house itself wouldn't generate interest, so it has to be overpriced, or it's getting very poor exposure.
It's a lovely home. Remember that home sales are very slow nearly everywhere. I agree about the price of the home. I know when we sold our home in CA we had to go down forty thousand dollars and we were already below the assessed value. It was disappointing but it did sell then. Buyers are wary right now...$$ is tight.
Have you had showings to possible buyers (not just agents)? How many? What were their responses?
The photos are great and the house looks lovely. I didn't see a price either and, as a possible buyer, this would bother me. If you are hiding the price, I'd see that as a sales technique just to get me to call. If you are well-priced for your area, educated buyers will know it. Or work with someone to figure it out. I also don't see an MLS number, so assume you are FSBO? Do agents know about your home? Are you cooperating? (I recently got a very nice phone call and an emailed brochure from an FSBO--it's a great custom built home. I'd show it in a second if I had a buyer looking in her area. But it only caught my attention because the owner was very knowledgable and professional-- and she called. She is also offering 4% to agents.)
The website could use some polishing...maybe separate the photos into a more visually appealing list? (Kitchen and master bedroom first...skip a white space...two or three more...skip some space--internet shoppers can be very elusive. You have to catch their attention and hold it somehow.)
Good luck to you!
On second look...I see a realtor's number on the contact page. If you are listed with a Realtor, I would ask for some work to be done on the primary page of the website if that is his major marketing tool. I'd ask for the MLS number, street address and price to be added. I'd also suggest a bit of work be done on the presentation of the side bar. And...I'm curious to know what other advertising he has done and what responses he has gotten. Is providing feedback to you regularly?
Last edited by cynmkolohe; 09-17-2007 at 12:41 PM..
I know as a serious buyer right now if the house is not priced right I am not even making lowball offers. If it is too high we figure the seller won't come doown b/c they think they are selling for what its worth-like there is no point in making an offer b/c there is too big a difference in price. good luck!
Thanks for the input so far. To answer many questions, yes, it is listed with agent. MLS # in Alb is 513746, also shown on TV and in print. Open house nearly every week, so there is plenty of traffic.
Price would be a thought, but other agents think the price is reasonable and unofficially two appraisers walked through and felt the price was reasonable.
Lots of people love the house just none make an offer. Could it be our market is that bad right now?
Last edited by GrandpaJ; 09-17-2007 at 01:13 PM..
Reason: typos
Your MLS listing only has the one photo, there should be multiple photos... especially with as nice a house as you have and the price range you're in. If I were looking to spend that much on a house I would probably skip looking at yours because you don't learn much from the listing and I would use that information as my starting point.
Yes, you have to have more pictures on the listing. Make it as easy as possible for the most exposure. When I am checking listings and see only one picture of the house, I wonder just how "bad" the rest of it is. Talk to your agent about completed sales right now. Are there any? How is the finance market where you are? Certain price points are having big big issues because the financing they looked for is no longer available.
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