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Old 09-17-2007, 03:02 PM
 
Location: Denver, CO
739 posts, read 2,940,741 times
Reputation: 204

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I'm not seeing the price either.
is there a lot of inventory on the west side currently? Also, it is in a somewhat distant area of the west side? I dont' know Albuquerque extremely well but do know there is a lot of inventory of new construction on the west side so you may be competing with a new product.
The only other advice I would give is that you need to declutter- aside from the kitchen, you have a lot of knicknacky stuff out. Kitchen is clean and nice, again, not being sure on your price and if you've accounted for this, it does look like he may need a few small updates.
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Old 09-17-2007, 03:49 PM
 
Location: In a house
21,956 posts, read 24,201,299 times
Reputation: 15030
I'd have to agree...one picture just isn't going to do it. I did go on the MSL listing and take a look and to be honest from just that one picture I'd probably go right by it. Now seeing the other pictures on that web site made the house much more interesting...all the lovely extras. Looks do help with first impressions. Good luck...been in your shoes recently and it's not easy!!
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Old 09-17-2007, 04:18 PM
 
Location: Albuquerque
7 posts, read 24,770 times
Reputation: 11
Thanks for the comment on a single photo. On our local service abqrealtors.com we have 8 photos, but I neglected to look at realtor.com where I see we have only one photo.
Also, thanks for the clutter comments and we did think of that issue. After the photos were posted we removed everything but minimal furnishings to "stage" the house.
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Old 09-17-2007, 04:22 PM
 
Location: NJ
23,787 posts, read 33,229,160 times
Reputation: 30580
Quote:
Originally Posted by dj32 View Post
I'm not seeing the price either.
is there a lot of inventory on the west side currently? Also, it is in a somewhat distant area of the west side? I dont' know Albuquerque extremely well but do know there is a lot of inventory of new construction on the west side so you may be competing with a new product.
The only other advice I would give is that you need to declutter- aside from the kitchen, you have a lot of knicknacky stuff out. Kitchen is clean and nice, again, not being sure on your price and if you've accounted for this, it does look like he may need a few small updates.
$419,900
3 Bed, 2.5 Bath
3,030 Sq. Ft.
0.21 Acres

For others that want to see

Realtor.com link

agents site (broken link)
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Old 09-17-2007, 04:31 PM
 
Location: Denver, CO
739 posts, read 2,940,741 times
Reputation: 204
oh the price seems ok (but I'm comparing with Denver prices)
what does your realtor say on the market? Is there alot of inventory there? Have you looked at the other comps? What is the average days on market?
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Old 09-17-2007, 04:39 PM
 
105 posts, read 399,299 times
Reputation: 58
The house is beautiful, so i am going with price here. I did not see it listed nor do I know what the going rate in new mexico is for a home such as yours. But just because agents say its a good price....it really has to do with whether the buyers think its a good price. If your not getting offers I would think buyers dont think its a good price. As a buyer in Arizona I will readily admit we are looking to take advantage of the buyers market.....We dont want to get stuck losing money like alot of sellers.

agree with amyla in that if a house is priced quite a bit above similar sized/quality homes we dont even bother looking or making a low offer....we figure they arent seriously into selling if they are priced well over similar houses.
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Old 09-17-2007, 07:23 PM
 
Location: Wouldn't you like to know?
9,116 posts, read 17,644,206 times
Reputation: 3722
If you haven't gotten any offers in 4 months, then obv pricing is out of whack.

The house was built in '87 so you are in an uphill battle against new construction.

Don't be surprised about anything in this market. This is probably one of the worst times in history to be a seller right now.

What price and when did you buy the house?
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Old 09-17-2007, 08:24 PM
 
Location: Wouldn't you like to know?
9,116 posts, read 17,644,206 times
Reputation: 3722
Albuquerque has seen a rise in inventory of over 50% in homes on the market YOY from July '06 to July of '07.

"From a buyer's standpoint, there's a lot to choose from," said Jim Salazar, president of The Vaughan Co.'s residential division. "From a seller's standpoint, market values have dropped off a little from a year ago. Because there's so much supply and not as much demand, if a seller needs to sell fast, they'll have to price the house competitively."

Sales of existing homes down in July - New Mexico Business Weekly:


First thing you need to do is fire your realtor. Anyone who has a home on the market for 4 months and they have 1 lousy picture on the MLS would be grounds for immediate firing. GET INVOLVED W/THE PROCESS OF SELLING YOUR HOUSE AND FIRE YOUR REALTOR. Start interviewing potential canditates. Ask the tough questions. You are currently spinning your wheels. I would be screaming and hollering if those 8 pictures weren't up within a week of listing!

Also, you need to be realistic about what your selling price is. Do you absolutely have to sell now? When is the drop dead date you need to sell/close by?

419,900 ain't gonna cut it. Too many houses for too few buyers. What & when did you buy it for?
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Old 09-17-2007, 09:17 PM
 
Location: California
510 posts, read 3,194,544 times
Reputation: 388
You asked if the market is bad right now. The key thing to notice is that "buyers" are coming to look at your home. The bad market doesn't apply to them, because most of them are looking to buy a house. So, if your house is being shown to people who want to buy a house, then there is a reason no one is buying.

These buyers have looked past the minimal mistakes from your online listings, and have come to visit your house. If it shows in real life the way it shows in your photos, then I can only imagine it's the price. Unless there's some horrific nasty sewer smell or something, which of course tends to be hard to pick up on photos, and it's rare to find a scratch and sniff website these days.

Bottom line, your house looks great, and I assume shows just as well. Think about the price, and how much you want to sell.

One other side note, on the mention of appraisers. At least 75% of an appraiser's work comes from financing transactions, either refi's or purchases. Of these 99% of the loan officers involved want the highest realistic value possible (some want more). So be sure and realize that appraisers may view properties as a value for lending, and not selling. Real estate agents use some of the skills of an appraiser creating comparative market analysis, and those are designed to get a realistic sales value.

If I was to sell my house, I would become a pretend buyer for a weekend. I'd find similar houses to mine, then I'd go view them. (ya I know wasting someone's time, but...) From there, do your best to create an unemotional comparison of amenities and prices.

Quote:
Originally Posted by GrandpaJ View Post
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?
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Old 09-17-2007, 10:09 PM
 
Location: Northwestern VA
982 posts, read 3,475,178 times
Reputation: 569
Quote:
Originally Posted by GrandpaJ View Post
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

Thanks for any ideas.
Grandpa,

Your house is absolutely gorgeous! Unfortunately, I can't say the same for the website. I am saying these things from the bottom of my heart...I genuinely want to offer constructive criticism to help better market your home. Here we go...

The site does not have a user friendly set up. Before I became a Realtor, I did "techy stuff". I know that when people visit a site, they will quickly scan the page...and I mean QUICKLY. If you don't have something on there to pique their interest and make them stay on your page, you'll lose them.

Some things I think should be done better on this site....the layout of the pictures. Why do I have to click on separate links to see interior photos? Why is the scroll of the exterior pictures so slow? Is this site about the house, or the views from the back yard? Who wrote the blurbs that go with the picture? They're poorly written. Because I have been a home buyer and I buy things on a regular basis, I know that sometimes buyers are not very forgiving. I'm the first to admit that sometimes I look for reasons NOT to buy...and the blurbs would be my reason for not making an offer on this house.

How about mentioning room dimensions instead of telling how long the table is or how many people fit in a room? Have you ever heard someone describe a room size in a house as '75 of us were in the room and our elbows never touched'? or do you hear people say my dining room is 20x25?? And the photo blurbs are too familiar, and it's mentioning what's important to the person who wrote the blurbs NOT what's important to the prospective buyer. To me it comes across as a poor sales pitch...like the writer is trying too hard to be appealing.

This site feels more like an online photo album than an ad to sell a house. I hope that you have other advertising besides this. The information about the photos needs to be written from the "if I were the buyer, what would I want to see" point of view. I'm also not a fan of keeping the sales price a secret. Put it all out there and when the right buyer sees it, he'll make an offer.

Hope something in here helps!
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