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Are folks even stopping by to see it? I think it looks nice but I don't think the photos do it justice. There's 3 photos of the stove and there aren't photos all of the spaces (bdrms, baths). That always makes me suspicious.
I might not want to live in a Placenta, either. (Ha I know, Placentia, but I read it so quickly the first time....)
Your price can't be too far out of line since you received an offer.
The offer did not close so it's meaningless.
I am thousands of miles away from the OP's location and know nothing about that local market. I do know that 60 days and not being seriously under contract strongly suggests the market has rejected the property, at it's current price point.
If the OP's local market had appreciated over the past 3 years, would people say he/she underpaid 5 years ago?
Reality is the owner paid market value, at the point of sale. That was then and this is now. We all feel the OP's pain.
It's just my opinion, and it could have just been in my part of the country, but anyone who bought new construction from summer 2006 until June 2008 bought at the height of the market - and definitely overpaid for their property.
I know the price is a concern. It's just a bit hard to gauge. The neighborhood could be better. The area where the Melrose listing is the problem(also that house is 500sf smaller). Also we are next to railroad tracks. It's also a gated community. If the house was in a better area in the city(about a mile away) it would be in the mid 500k's. The house is only 5 years old.
We did price with the realtor's advice. I am not in a big rush to sell so if the price goes to low, then I would take it off the market and try again after the new year.
The one problem I think is that this house is for first time home buyers(like we were when we git it). It seems like the market is void of them. Do you think this is true?
If I am looking at the correct listing, your place is a 4/3.5 bath which is typically more house and beyond reach for most first time homebuyers, in most markets. It's also a TH/condo, a very nice one. It sounds like you are potentially competing with other TH/condos as well as single family homes, including some in better locations.
Most people who need 4 bedrooms/3.4 baths have children, trend towards SF homes and want the best school districts they can afford. How does your place compare?
Placentia is a not a bad area just has some bad parts. I would say a average SFH is about 580K for 1800SF. The schools are good.
From OC Register this week
PLACENTIA Properties available: 64 Condominiums/Townhomes: 17 Houses: 47 Short sales: 5 Median condo price: $315,000 Median house price: $629,000 Average days on market: 40
So what should I lower the price to is the big question then. Then also adding better pictures? Change the description?
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Favorable winds
