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Old 06-18-2012, 07:29 PM
 
39 posts, read 49,622 times
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I am really debating on a $7k price drop to $203,000. I think that would make an impact and we'd get some bites.
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Old 06-18-2012, 07:48 PM
 
Location: The Triad (NC)
26,878 posts, read 57,960,239 times
Reputation: 29313
Quote:
Originally Posted by wakefield622 View Post
I am really debating on a $7k price drop to $203,000.
I think that would make an impact and we'd get some bites.
What it comes down to is whether you NEED to sell or not.

F'rinstance if you have a good/better job waiting for you out of commuting distance...
and you need to be shed of this obligation so you can move on with your life then you have to sharpen the pencil and get down to the lowest number you can afford to sell for **even if you lose some on the deal**.

Otoh... if you can afford to stay put for another couple of years and allow the other deadwood some time to be cleared from the lanes you may be able to sell with less competition... but there's no guarantee where the prices will be then.

Most buyers know these basic truths.
If they don't... their agent does.
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Old 06-18-2012, 08:18 PM
 
Location: Mostly in my head
19,641 posts, read 53,545,549 times
Reputation: 18559
Quote:
Originally Posted by wakefield622 View Post
There are 25 in total. There are pics of master, bath and yard as well
Sorry but when I clicked on your link I only saw a few.

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Old 06-19-2012, 04:55 AM
 
39 posts, read 49,622 times
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Well we dropped the price to 202,995
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Old 06-19-2012, 06:05 AM
 
Location: Ashburn, VA
989 posts, read 2,392,689 times
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I would have dropped the price to $199,900. You get the people looking for under $200,000. Just me but that's what I would have done.
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Old 06-19-2012, 06:19 AM
 
39 posts, read 49,622 times
Reputation: 27
Quote:
Originally Posted by mdcrim View Post
I would have dropped the price to $199,900. You get the people looking for under $200,000. Just me but that's what I would have done.
Our realtor suggested $200,000 so we appeal to the buyers from 175,000-200,000 and the 200,000-225,000. As it is - if we wanted to walk away with not one penny....we could sell for as little as $197,000. Anything lower we would owe the bank and we can not put ourselves in that situation. If need be we will drop to 200,000 to appeal to more buyers if this drop doesn't do what we need it to.

I looked up and there are new construction homes going for $206k. I am not going to not give us credit as we have upgrades (newly paved driveway, beautiful deck, fireplace, pergo flooring, custom paint etc) So, I think the $202,995 is a price we can be happy with and walk away with a little bit of $$ as well.
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Old 06-19-2012, 07:21 AM
 
2,619 posts, read 4,110,773 times
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Quote:
Originally Posted by wakefield622 View Post
It looks like the $125,000 priced home was a mobile home.
Also, the $166,000 home was a short sale as well as the $210,000 home.
Sorry, I just looked on Zillow quickly and didn't notice the short sales angle.

Actually, that may be part of the problem. As a relatively inexperienced buyer, I would be more interested in some of the other houses that appear cheaper for more space.
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Old 06-19-2012, 07:55 AM
 
11,615 posts, read 19,731,699 times
Reputation: 12051
Quote:
Originally Posted by wakefield622 View Post
Yea and one of the nicest on our block. Restating your reply would be decent of you. We don't need you to buy it for that, there's others at there.
If you look at the property at 574 N Erin Ave it is nearly twice the size of your property and listing for the same price. The house that sold at 38 Dorothy Lane is more comparable as far as size goes and it sold for $165K. I am not a real estate professional but that stood out to me. You need to revisit the price.
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Old 06-19-2012, 07:57 AM
 
Location: North Texas
23,618 posts, read 31,183,401 times
Reputation: 26682
Quote:
Originally Posted by MrRational View Post
Truth?
It's a boring little house on a boring little lot in the middle of what used to be a cornfield.
49 New Castle Avenue, Felton DE | MLS# 6068123 - Trulia

$210,000 is far more than I'd pay for that.
Quote:
Originally Posted by wakefield622 View Post
Welp, thanks for the compliments.
Quote:
Originally Posted by wakefield622 View Post
Yea and one of the nicest on our block. Restating your reply would be decent of you. We don't need you to buy it for that, there's others at there.
He/she/they are just being honest, and far more polite than potential buyers probably are when looking at your home's listing. They don't know you and don't care about hurting your feelings.

I'll be blunt: your house is boring. The decor is unimaginative, the furniture placement makes the rooms appear small (all your furniture is kissing the walls), the color scheme is meh, and the kitchens and bathrooms look like they have cheap, low-end fixtures and fittings. Also, in the pictures your flooring looks like vinyl and laminate, and probably cheap builder-grade carpet too. Your backyard has nothing going on except for a fairly small deck...no landscaping of any kind.

Basically it appears to me that you're asking a champagne price for a beer product.

You're probably going to have to lower your price, modify your property to appeal to buyers, or both. Good luck.
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Old 06-19-2012, 08:03 AM
 
Location: Florida
198 posts, read 368,845 times
Reputation: 173
I would agree that your 1200 sq ft house would not be as appealing as those around you with much more square footage and a lower price. I am just talking as a buyer who would want more bang for my buck. I have my own home on the market and people are making offers 20k and more below my asking price. Most of the prospective buyers are saying my price is great but it is only great if they make an offer that I can accept. If you cannot afford to sell it below 197K, then you will probably have to wait until the market is in a better place, so you can sell it and make a profit. Just my two cents. It is a pretty home but I have to agree that many of the pics are the same with a slight change in angle. The 2nd and 3rd bedrooms need a different shot to show the closets. I am assuming that those two rooms are very small and maybe you cannot get a different angle. The backyard pics are good.
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