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Old 07-19-2012, 08:26 AM
 
90 posts, read 232,292 times
Reputation: 73

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Quote:
Originally Posted by DevionisDream View Post
I think your house shuts out a huge market : Family. Even newlyweds will be skeptical about buying a house without enough room to grow. It can just be your house.

Good Luck. PS: Have you thought about renting it out??
You are right. And from what I believe the people who had looked at it were older and single or a young couple. My husband and I were young when we bought it. It's a perfect starter home, and we were living in there fairly comfortably with a 4 & 2 year old. Many people starting out can't afford much more.

We have not really discussed renting it out. But it's a possibility.

Thank you
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Old 07-19-2012, 08:30 AM
 
90 posts, read 232,292 times
Reputation: 73
Thanks again for everyone who responded. I talked with my husband last night and he does not want to lower it just yet. If he feels comfortable not doing so then it's fine with me. I think we ll just wait a few more weeks. I plan on contacting our agent again today and asking for a report of the last 6 months to year (assuming they have something like this) that shows properties like ours, how long they were on the market, what was the starting selling point, what it sold for. I will also just see what he says about an open house (I too think open houses are nice to have when the house is vacant and your crap isn't everywhere) and see if he knows any investors interested in buying to have as a rental property. He is the most well known agent in town...I would hope he has more options in mind...
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Old 07-19-2012, 08:53 AM
 
Location: The Triad (NC)
26,914 posts, read 58,045,364 times
Reputation: 29368
Quote:
Originally Posted by Midwest1628 View Post
Thanks again for everyone who responded. I talked with my husband last night and he does not want to lower it just yet. If he feels comfortable not doing so then it's fine with me. I think we ll just wait a few more weeks.
Well, if you won't lower the price today then be sure the listing SHOWS it is a 2 bedroom house today.
No point in wasting the time of even more potential buyers.
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Old 07-19-2012, 09:05 AM
 
90 posts, read 232,292 times
Reputation: 73
Quote:
Originally Posted by MrRational View Post
Well, if you won't lower the price today then be sure the listing SHOWS it is a 2 bedroom house today.
No point in wasting the time of even more potential buyers.

The listing DOES say what it is...2 bed/ 1 bath, .19 lot, updated kitchen, double detached garage, and there are pictures of the house inside/outside on the listing. So I would be confused why agents would show the house if they knew that someone wanted a 3rd bed or larger lot.
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Old 07-19-2012, 09:43 AM
 
Location: The Triad (NC)
26,914 posts, read 58,045,364 times
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Quote:
Originally Posted by Midwest1628 View Post
The listing DOES say what it is...2 bed/ 1 bath...
why agents would show the house if they knew that someone wanted a 3rd bed or larger lot.
Gotcha. Scanning the other comments I got the impression it was listed as a 3BR.
As to the price... the "pull the band-aid off" rule still applies. Do it and quick.
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Old 07-19-2012, 11:08 AM
 
Location: earth?
7,288 posts, read 10,390,951 times
Reputation: 8956
Quote:
Originally Posted by Midwest1628 View Post
Thanks again for everyone who responded. I talked with my husband last night and he does not want to lower it just yet. If he feels comfortable not doing so then it's fine with me. I think we ll just wait a few more weeks. I plan on contacting our agent again today and asking for a report of the last 6 months to year (assuming they have something like this) that shows properties like ours, how long they were on the market, what was the starting selling point, what it sold for. I will also just see what he says about an open house (I too think open houses are nice to have when the house is vacant and your crap isn't everywhere) and see if he knows any investors interested in buying to have as a rental property. He is the most well known agent in town...I would hope he has more options in mind...
No one "wants" to lower the price, but sometimes you have to face reality and bite the bullet and do it. Otherwise you are chasing down the market. It's a lose-lose strategy.
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Old 07-19-2012, 04:56 PM
 
Location: Barrington
42,006 posts, read 31,809,068 times
Reputation: 14109
Quote:
Originally Posted by Midwest1628 View Post
It still comes down to price.

So when looking at the market, I am looking at houses same as mine for pricing correct? 2 bed/1 bath? If so, it does appear that a few of those have recently reduced price (under 80K) and a new one on the market listed at 74K

That's all fine and dandy but what you need to know is where other 2/1 have sold and closed in the past 3 months. You agent s/b supplying you with this information as well as his/her opinion about how your places compares to the competition, especially the new one at $74.

I do agree it is probably time to drop below 80...at least do 79,900 for a few weeks? Have to talk to the hubby tonight![/quote]

$3K is too insignificant a reduction to make a difference. Your agent should be the one recommending the right price and the facts to support it.
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Old 07-20-2012, 08:44 AM
 
Location: So Ca
13,974 posts, read 13,611,553 times
Reputation: 11903
Quote:
Originally Posted by Midwest1628 View Post
I plan on contacting our agent again today and asking for a report of the last 6 months to year (assuming they have something like this) that shows properties like ours, how long they were on the market, what was the starting selling point, what it sold for.
Eeek. Your realtor should have done this to begin with. How else did you come up with your selling price?

Is there a lockbox on the house? With ours, every time someone came through with a realtor, our realtor received that information electronically. She knew exactly who was looking at it and when, and she could call those realtors for information.

Quote:
I will also just see what he says about an open house (I too think open houses are nice to have when the house is vacant and your crap isn't everywhere)
An open house couldn't hurt, especially one hasn't been held. Your realtor should have scheduled one when your house was first listed. One thing potential buyers think when they walk through a vacant house is: these people probably need to sell.
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Old 07-23-2012, 12:52 PM
 
90 posts, read 232,292 times
Reputation: 73
So....this is what I emailed him a few days ago:


"Do you happen to have a report of properties like ours with information such as how long they were on the market, what was the starting asking price, and what it sold for that we could have access to?


Do you think there would be any benefits to an open house? Especially now that it is empty?


I'm sure you are familiar with all agents in the area, are they all aware of the property? Do you know any investors who would be interested in buying it as a rental opportunity?


Just a few questions I've had on my mind"

His response: "Don't wait to long. I can launch the new price with an open house!"

Didn't really answer my questions....
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Old 07-23-2012, 01:12 PM
 
Location: The Triad (NC)
26,914 posts, read 58,045,364 times
Reputation: 29368
Quote:
Originally Posted by Midwest1628 View Post
His response: "Don't wait to long. I can launch the new price with an open house!"
Read: "Oh yeah, you're that overpriced out of town client.
I'm too busy with the people in town to take time to address you and your concerns now."

How binding is your listing contract with this guy?
When does it expire? Can you get out of it?

Go up the food chain to HIS broker to get if need be...
that might mean for another agent i the same agency but if they have a clue... that's better.
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