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We just had contract accepted for house in FL that is close to our daughter's--
lots of houses in her neighborhood for sale--
many not updated since original construction
this house had two offers within 10 days of listing--that is because it has had some major (expensive) improvements within past 5 yrs although not all rooms were updated. When you compare the other homes in that subdivision with this one, you can see how some owners are just sticking to what they think is fair price--not market price...
two houses in our old neighborhood in DFW area TX are for sale--one for more than a year--
it has a floor plan that is just horrible (was a custom build initially) and needs to be depersonalized and have lawn maintenance/tree trimming done before new photos for MLS are taken...
but personal problems with owners apparently keep that from happening...
I am sure the realtor has suggested it...
Likely to be on market for another year if they don't get realistic about the market...
Second house been up for sale shorter time, better floorplan, and updated but the price point puts it in competition with homes in other areas that are more prone to attract buyers...
so even though this house certainly looks more worth the asking price--still might be tough sell...
Our realtor for the new house we bought said he thought there would be no problem with the house making appraisal for the full asking price but he also said that the comps that an appraiser would use did not technically justify paying full price...and the market while getting better still had homes with 100+ DOM in area...
we raised our offer when we found out there was a second one--but were still 10K off asking...
they offered a little more but required mortgage contengency--which could be problem--so our offer was accepted
You never know what will make someone offer for your house--something that you see as liability could be a plus in their eyes--
you just need the "right" buyer to come though--that is why traffic is so important...
PLUS--some people are just unrealistic about what they are going to find in a house--either they have not done any looking/buying before or they are just very, very hard to please...
there is NO perfect house...even if you build one from scratch, with great builder/plan/workers--there are still likely to be problems that come up
but some people don't really understand that a house that has 90% of what they are looking for is really about as good as it will get...
Thank you all again for your opinions. SO, because we would like to close by June (and move on with our life) we orchestrated a price drop yesterday to $225k. Personally I feel like it is a steal for this home, and I know we are the best or one of the best values at the price point. We have gotten 4 more showings since the drop, one of which is today and two tomorrow, but still no offers. This damn seller's stress sucks! We can't and dont want to drop the price anymore regardless, as we would be left with little funds for our impending move. So, hopefully this weekend will be a good one...oy. Thanks for reading and responses!
Thank you all again for your opinions. SO, because we would like to close by June (and move on with our life) we orchestrated a price drop yesterday to $225k. Personally I feel like it is a steal for this home, and I know we are the best or one of the best values at the price point. We have gotten 4 more showings since the drop, one of which is today and two tomorrow, but still no offers. This damn seller's stress sucks! We can't and dont want to drop the price anymore regardless, as we would be left with little funds for our impending move. So, hopefully this weekend will be a good one...oy. Thanks for reading and responses!
Good luck. Don't get stressed by the process. You have a LONG way to go...it just takes time. Forget about June unless you get VERY lucky. In this market, that is not going to happen if the house didn't sell in the first couple of days. Now you are into the grind period. Showings. Wishing. Hoping. Next is paint, landscaping, etc. Then another price drop. it's not you, nor your house. it's the market right now. Be patient grasshopper. Think in terms of a year to 18 months and then you might be pleasantly surprised...and the stress level associated with trying to get this done by June (2012?) will go WAY down.
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Good Luck!
