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Old 09-14-2017, 06:15 AM
 
Location: Dessert
10,846 posts, read 7,253,106 times
Reputation: 27943

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since you listed so high above market average at first, people didn't look at your place. Then it was an old listing, so something must be wrong with it, so they didn't look at your place.

basically, you screwed yourself. You probably have to take it off the market for a while, then get back on as a new listing, and get good advice about comps so you price it right.
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Old 09-14-2017, 07:12 AM
 
Location: Columbia SC
14,209 posts, read 14,607,922 times
Reputation: 22034
Quote:
Originally Posted by Conon6 View Post
Bought a condo with stunning city/downtown views for 100k, put another 100k into it - complete ground-up modern/contemporary style remodel: moving walls - opening up spaces, heated floors throughout, fully tiled bathrooms, wood/wallpaper surfaces, built-in appliances in the kitchen, stylish light and plumbing fixtures, dimensional details... everything is high-end, custom order, european import, nothing from home depot... you know, the works. I actually had a friend helping me with all the work, so I saved a lot on labor (random construction company guys would probably cost me at least 50k extra)... Put another 20k into the furniture/decor.

Anyway, planned to live there forever so didn't care much about resale, always thought remodeled properties sell fast... But guess what, life happened...

Put it on the market. Wasn't in a rush, so decided to feel the market. Similar sq ft condos (unremodeled, ugly ones) in that area are being sold for 200k, so I started at 300k... of course nobody bit, so I slowly lowered the price until 200k now where I'm pretty much dead even (actually I'm going to lose money on realtor fees, taxes etc). Got maybe 3 showings over the course of sale (8 months). Not even gawkers. Nobody even wants to come and look at it. Again, I'm competing with about same sq ftage ugly rental-grade apartments... And mine is not crazy/wacky style, pretty normal looking condo for that style.

I'm extremely surprised at this. I live in a city of 300,000 and I haven't seen a single good looking condo for sale (or a house for that matter). I know it's a redneck city (general consensus) but there's going to be some people who appreciate a stylish home and can afford one in any city. You know surgeons, lawyers, single high-income professionals...

But there's pretty much zero interest.

I know the issue is not the price or location. I'm lower than rental grade condos of similar footage in close by areas. I definitely know it's not the style. Or is it? Do people hate modern/contemporary? Luxury? Views? I just don't get it...

Did I hurt myself by doing the big price drops every 2 months? Do people look at the history of the property and think something is wrong with it if I have to lower the price so much?

Any thoughts?

(I'm not trying to pitch a sale here, not going to post any links, or mention location... please don't ask, don't PM - I won't answer...)
You have a $1,000 saddle on a $100 horse. You will not even break even. Take the hit and move on.
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Old 09-14-2017, 08:38 AM
 
Location: Denver CO
24,204 posts, read 19,082,638 times
Reputation: 38266
This is a 3 year old thread, no need to respond to the OP who hasn't been back here since 2014.
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Old 09-14-2017, 09:49 AM
 
Location: Back in the Mitten. Formerly NC
3,830 posts, read 6,702,502 times
Reputation: 5367
Quote:
Originally Posted by Indigo Cardinal View Post
I wonder if the OP wound up 'neutralizing' the place to sell it or not.....
Pictures are on Zillow. I looked it up a few days ago. From what I remember- It looks like the life event was a wife/girlfriend. The green office was painted a lighter neutral color and full of girl stuff. Laminate flooring was installed. Purple walls were made neutral. Bathrooms untouched. Otherwise, everything else was pretty much the same.
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Old 09-14-2017, 11:15 AM
 
3,248 posts, read 2,441,901 times
Reputation: 7255
Quote:
Originally Posted by jaynarie View Post
Pictures are on Zillow. I looked it up a few days ago. From what I remember- It looks like the life event was a wife/girlfriend. The green office was painted a lighter neutral color and full of girl stuff. Laminate flooring was installed. Purple walls were made neutral. Bathrooms untouched. Otherwise, everything else was pretty much the same.
What city was it in?
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Old 09-14-2017, 11:19 AM
 
Location: Colorado
4,006 posts, read 2,684,702 times
Reputation: 7457
Quote:
Originally Posted by jaynarie View Post
Pictures are on Zillow. I looked it up a few days ago. From what I remember- It looks like the life event was a wife/girlfriend. The green office was painted a lighter neutral color and full of girl stuff. Laminate flooring was installed. Purple walls were made neutral. Bathrooms untouched. Otherwise, everything else was pretty much the same.
Is there a link that I missed?
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Old 09-14-2017, 11:25 AM
 
Location: Back in the Mitten. Formerly NC
3,830 posts, read 6,702,502 times
Reputation: 5367
Quote:
Originally Posted by davebarnes View Post
214 W 6th Ave, Spokane, WA 99204 is For Sale - Zillow looks a little cluttered so obviously worth $100K less
Not the condo, but look for one veeerrryyyy close.
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Old 09-14-2017, 12:34 PM
 
Location: Colorado
4,006 posts, read 2,684,702 times
Reputation: 7457
Quote:
Originally Posted by jaynarie View Post
Not the condo, but look for one veeerrryyyy close.
Found it.....well.....somewhat better, I guess. If nothing else, not quite so jumbly-confusing to look at.
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Old 09-14-2017, 01:15 PM
 
2,951 posts, read 2,502,979 times
Reputation: 5292
I think your start pricing was way to high. I get needing the money but that is not how real estate selling works.

Now your listing is 'old". If using an agent have her pull it, let it sit for a couple months then relist. At a reasonable price.
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Old 09-14-2017, 02:14 PM
 
Location: Raleigh NC
25,119 posts, read 16,118,757 times
Reputation: 14408
just think, if he had waited until today's mysterious resurrection, he could have probably gotten $250K
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