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Old 06-20-2012, 07:14 AM
 
80 posts, read 128,184 times
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bbronston & woodrough - thank you for clarifications.
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Old 06-20-2012, 08:56 AM
 
5,461 posts, read 6,132,676 times
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MPSTAT.....just chill out a little bit. Your pricing is roughly correct. It sounds like the home is in an okay neighborhood. You are getting showings. Your agent seems to be doing their job. Anything you do at this point is 'fine tuning; and not likely to move anyone off the spot.

Your ONLY problem is that you are facing a very difficult market. There are a ton of older folks trying to downsize from the 'family' home. There are very few young families trying to get into a bigger house, and those that are have been falling for the gimmicks which spec/tract builders use to sell houses to the uninformed. You can't compete against a mentality which you can't understand.

So, unless you MUST sell (in which case you are going to have to 'give it away'), then just sit back. Give it a year or so and see if a buyer comes along. There are a few out there, but they are very nervous, and even though we are closer to the bottom than the top, they don't want to make a mistake. We have a presidential election coming up--that might motivate Washington to move on jobs and real estate. Gas prices are down quite a bit....that helps family budgets. Nothing huge, but a little here and a little there, and bingo, you suddenly have a buyer for reasons which you will never put your finger on.

I just sold a house...one year on market...nice place, good neighborrhood, etc. . I had two buyers who couldn't close (one a couple weeks in, one six moinths in) , and the third could finally get it done. It was all about financicng availability in my case. Just be calm...you are just starting the process.
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Old 06-20-2012, 01:58 PM
 
47 posts, read 102,147 times
Reputation: 29
Ted Bear, your post is music to my ears. I have never felt so anxious in my life! I thought selling was going to be fun---I just knew people would be beating down my door to buy my house, lol. I don't want to give my house away, so I am going to be patient. I think I might need to up my marketing a bit since my house is over 2600sq.ft., but it is turn-key, so maintenance for an older couple would simply entail keeping up with the inside of the house. Thanks again for sharing your experience!
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Old 06-20-2012, 02:07 PM
 
Location: State of Transition
72,754 posts, read 64,231,537 times
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Quote:
Originally Posted by mpstat View Post
My questions are:

My concern that if we do not get an offer by end of July our sale chances greatly diminish. Is this concern warranted? Is there a sale season for suburbs?
Should I keep reducing the price every 2-3 weeks? How much?
Should I remove it from the market say in the end of July or August? When & for how long? When should I put it back on the market (February-March)?
Is it advisable in general removing house from the market? Or should I keep it there no matter what no matter for how long
It actually sounds like a good listing; parks/ tennis nearby, huge yard that you improved for added privacy/noise reduction, full daylight basement, wow! The one drawback seems to be the unusually small size of the neighborhood, like it's in a very small development. Still, there's a park, a good amenity.

I just sold my house. I was shocked at some of the low-ball offers. In my area (NM) the market is starting to rebound now, though. After 3 months, you do need to lower the price to stay in the game, and the game is worth staying in through the summer. Spring/summer is usually the big selling season, though that can differ depending on region, consult with your agent. I'd say cut it another $15,000 if you can handle that, have the agent state "motivated seller!" in the ad, be SURE to list the full daylight basement. Does the basement have its own bathroom? If so, you could market the house as having a potential basement rental unit. That REALLY draws buyers! That alone can make a night-and-day difference as to the level of serious interest and quantity of potential buyers it draws. Don't throw in the towel right in the middle of peak selling season. Work with it.
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Old 06-21-2012, 07:15 AM
 
80 posts, read 128,184 times
Reputation: 68
Ted Bear & Ruth4Truth - your posts really help. I should be more patient.

Last edited by mpstat; 06-21-2012 at 07:50 AM..
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Old 06-21-2012, 09:32 AM
 
3,029 posts, read 6,913,829 times
Reputation: 3190
Something to think about - when a house doesn't sell within a reasonable length of time, the reason is ALWAYS the price. Sure, negative features will limit the appeal and narrow the list of prospective buyers. And there isn't always enough reliable market evidence for an appraiser to make a reliable and accurate appraisal. Lowering the price in increments will also incrementally increase your pool of interested buyers.
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Old 06-22-2012, 11:09 AM
Status: "In an Involuntary Time Warp" (set 25 days ago)
 
7,856 posts, read 10,158,141 times
Reputation: 11424
When a house doesn't sell in a reasonable amount of time, there's a problem with the price, condition and/ or location. A good agent will know about these things. Also, staging helps. Good staging, not mediocre staging.
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Old 06-22-2012, 11:17 AM
 
Location: Columbia, SC
8,852 posts, read 17,450,334 times
Reputation: 6212
Showings, no good offers? Either lower your price and/or improve your condition. That's all you have to do.
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Old 06-23-2012, 11:15 AM
 
Location: Lewistown, MT
5 posts, read 14,011 times
Reputation: 19
I don't know your market or your house, so I can't give any specifics, but looking at it from a buyer's perspective, there are places to find out about price drops. You've been dropping the price so often, they may just be holding out to see how low you'll go. I did that when I was doing my last home search. From a realtor's perspective, I would suggest you talk to your agent about the market. They should be able to use the data from the area to give you an estimate of how long it takes for a house in your price range to sell.
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Old 06-23-2012, 11:37 AM
 
Location: San Diego
32,807 posts, read 30,061,070 times
Reputation: 17697
A busy road is going to be a HUGE problem, wall or no wall.
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