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Old 08-09-2013, 03:12 PM
 
104 posts, read 230,408 times
Reputation: 56

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Hello, great forum everyone!
we have our house on the market for a couple of months now. it is a higher priced home and is priced lower than similar homes on the market right now. while the houses in town in a lower price range are flying off the shelves!, the higher priced homes are not. we have people come to look every week, we have had brokers opens and 2 open houses, we have reduced the price and have had no negative comments from buyers nor agents. the house is staged perfectly. of the 20+ potential buyers that have come thru, not only have they not made an offer on my home, but they have not made offers on my competition either. i am pretty sure the agents are bringing thru qualified buyers. our town is very desirable, great location, and known for a good school system
my question is does is take longer for higher priced homes to sell?
i have read the 1st 2 quarters of 2013 were strong, but they are not expecting the 2nd half of the year to be as strong. are there a lot of buyers in the Fall and just before the end of the year? my home was listed in late Spring. & as i said had lots of showings, just no offers
Looking for a crystal ball i guess patience certainly is a virtue, (but it's frustrating)
i appreciate any advice.
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Old 08-09-2013, 04:05 PM
 
Location: The Triad (NC)
26,423 posts, read 57,034,291 times
Reputation: 28553
Quote:
Originally Posted by luluwas View Post
we have people come to look every week,
we have had brokers opens and 2 open houses,
we have reduced the price and
have had no negative comments from buyers nor agents.
the house is staged perfectly.
our town is very desirable, great location, and known for a good school system

while the houses in town in a lower price range are flying off the shelves,
the higher priced homes are not.

we have our house on the market for a couple of months now.
it is a higher priced home...

my question is does is take longer for higher priced homes to sell?
The only thing that takes longer are OVER priced houses

Quote:
of the 20+ potential buyers that have come thru not only have they not made an offer
on my home, but they have not made offers on my competition either.
i am pretty sure the agents are bringing thru qualified buyers.
zero for twenty? really?
You know what the first rule of sales is? Qualify the prospect.
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Old 08-09-2013, 04:13 PM
 
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
6,958 posts, read 18,406,692 times
Reputation: 6354
Once again, the location of the real estate in question is important. What real estate market are you in?
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Old 08-09-2013, 04:27 PM
 
Location: Barrington
41,297 posts, read 31,315,546 times
Reputation: 13925
I live and work in an area similar to your area.

Your local market has rejected your offer to sell at your current price point. It's up to you to counter with a more realistic asking price or remain amongst the unsellables.


Despite the hype, in most areas of the U.S., sellers continue to decide between getting sold or getting their price.
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Old 08-12-2013, 05:14 PM
 
Location: Florida
66 posts, read 116,975 times
Reputation: 32
if it listed at a good price, it can be sold in 24 hours
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Old 08-12-2013, 08:59 PM
 
Location: East of Seattle since 1992, originally from SF Bay Area
28,093 posts, read 49,828,962 times
Reputation: 28101
Here the homes priced $400,00-$600,00 are selling in a few days with multiple offers over asking. Those in the next group up to 1.2 million are taking longer but still selling well, only the high priced homes over 1.2 are taking longer. The people moving here recently for the jobs available are at about $100,000-150,000 income, so the homes that sell are those they can afford.
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Old 08-12-2013, 09:13 PM
Status: "42 restaurants within 6 blocks of my house" (set 5 days ago)
 
Location: The Berk in Denver, CO USA
13,051 posts, read 18,456,786 times
Reputation: 20203
Default Whatever happened to

PLEASE tell us your location when asking questions.
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Old 08-12-2013, 09:24 PM
 
5,205 posts, read 7,984,790 times
Reputation: 3410
29 1/2 days.
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Old 08-12-2013, 10:33 PM
 
104 posts, read 230,408 times
Reputation: 56
location monmouth county new jersey. i guess the only answer i will get is lower your price.
Hemlock140 your answer seems to be closer to my point.
i think when you are in a higher price range and there are less homes to choose from you take your time. i don't have a problem reducing the price but i am just wondering if that is what the issue is. (i did recently reduce my price substantially) i have people coming knowing what the price is and seeing pics and web tours so i am just wondering if it is a different pool of buyers.
i find it puzzling that none of the local agents had anything to complain about price or otherwise and yet no offers not even a low ball.
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Old 08-13-2013, 05:05 AM
 
Location: The Triad (NC)
26,423 posts, read 57,034,291 times
Reputation: 28553
Quote:
Originally Posted by luluwas View Post
location monmouth county new jersey.
change your user control panel for adding that.
(my settings at top of page)

Quote:
i think when you are in a higher price range and there are less homes to choose from
you take your time.
Why? The buyers in those markets surely aren't taking their time.
They're hooked up with their agents and stand ready to pounce the minute a new listing is up.
You've had twenty of them walk through and move on for some reason...
Probably another twenty (or fifty) did similar while still online.

Quote:
i guess the only answer i will get is lower your price.
all else being equal...

Quote:
i am just wondering if that is what the issue is .. none of the local agents had anything
to complain about price or otherwise and yet no offers not even a low ball.
That is telling as obviously *something* isn't adding up. Those you believe are acting in your
best interests either won't talk about it (or can't talk about it) or are too oblivious to see it.

Find some fresh impartial eyes. Start with the few hundred a pro appraisal will cost.
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