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Old 11-07-2014, 05:52 PM
 
524 posts, read 571,745 times
Reputation: 1093

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Too taste specific. You are looking for someone who will pay a premium for your taste in your area. I like one of the bathrooms, but that is it. Otherwise it looks like work.
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Old 11-07-2014, 05:54 PM
 
Location: Englewood, FL
1,268 posts, read 2,990,998 times
Reputation: 1117
Beautiful condo, but the finishes are very personal. To be honest, I would remove all the wallpaper and paint the walls a neutral like Revere Pewter from Ben Moore. If some of the fixtures were set against a neutral backdrop, they wouldn't feel so over the top.
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Old 11-07-2014, 05:59 PM
 
13,711 posts, read 9,197,088 times
Reputation: 9840
I think there are three problems with this condo:

1. The unit cannot be rented. It effectively eliminated a significant pool of buyers who are investors. Not knowing your particular city, in general people want to buy houses; while condos are mostly for investors. But this is not as big a deal as the following...

2. The price. It is almost double a comparable unit. It is very hard to justify paying 100% more for updates, let alone one that is.....

3. Too personalized. Don't get me wrong, it's nice but this place is all YOU. I cannot picture myself living there, it'd be like living in someone else's pad. There'd be quite a few things I want to rip out and make it more vanilla. Come to think of it, it'd be better off if I buy a rental-grade ugly for half your price and update that to my liking.

.
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Old 11-07-2014, 06:09 PM
 
Location: LA/OC
1,083 posts, read 2,163,939 times
Reputation: 605
I think it's cool, but your biggest mistake was pricing it at $100K over the comps when you listed it.
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Old 11-07-2014, 06:10 PM
 
20 posts, read 35,870 times
Reputation: 40
Thanks for honest feedback everyone. I know that vast majority of people prefer lighter colors. The purpose of this condo is to sell to someone who'd be happy with it as is. Tearing off wallpaper... might as well just buy another condo in the building for 1/2 the price. But at least I now know that my pool of buyers is way smaller than I originally thought. Oh well...
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Old 11-07-2014, 06:15 PM
 
991 posts, read 1,513,702 times
Reputation: 1618
I like modern, but I wouldn't buy modern because that's just not me. It's nicely done, but you will have a limited audience. The photos make it look tiny, I would start there with a new photographer...maybe even black and white photos. BW would fit the style and somewhat neutralize the color palette for online advertising.

It would flow better if you had a common palette that tied the spaces together, lots going on.
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Old 11-07-2014, 06:29 PM
 
988 posts, read 1,734,504 times
Reputation: 1078
Quote:
Originally Posted by Conon6 View Post
Thanks for honest feedback everyone. I know that vast majority of people prefer lighter colors. The purpose of this condo is to sell to someone who'd be happy with it as is. Tearing off wallpaper... might as well just buy another condo in the building for 1/2 the price. But at least I now know that my pool of buyers is way smaller than I originally thought. Oh well...
You're looking for a needle in a haystack: someone who has your exact same (or very similar) taste in decor and is willing to pay a hefty premium over comparable units for it. That's just not likely. Someone who has similar taste as yours is also more likely to purchase a much less expensive unit and conduct their own renovations. Realistically, you're looking at selling at a huge loss if you're trying to sell as-is, since it seems that your potential buyer pool just isn't very prevalent in your area. Strategy-wise, you might want to see how prevalent relocations are for your target demographic and market towards those out of town buyers.
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Old 11-07-2014, 06:40 PM
 
Location: Howard County, Maryland
1,539 posts, read 2,295,703 times
Reputation: 2450
Quote:
Originally Posted by coastal chic View Post
Beautiful condo, but the finishes are very personal. To be honest, I would remove all the wallpaper and paint the walls a neutral like Revere Pewter from Ben Moore. If some of the fixtures were set against a neutral backdrop, they wouldn't feel so over the top.
I agree. I'm not a fan of contemporary design but your house is beautiful and I love your design. That said, its clearly your design, your vision and other people are having a hard time picturing how they will make it theirs when it still feels so very much yours. "Feeling the market" and being overpriced to begin with haven't helped.
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Old 11-07-2014, 07:02 PM
 
Location: Englewood, FL
1,268 posts, read 2,990,998 times
Reputation: 1117
Quote:
Originally Posted by Conon6 View Post
Thanks for honest feedback everyone. I know that vast majority of people prefer lighter colors. The purpose of this condo is to sell to someone who'd be happy with it as is. Tearing off wallpaper... might as well just buy another condo in the building for 1/2 the price. But at least I now know that my pool of buyers is way smaller than I originally thought. Oh well...
99% of buyers hate wallpaper. And I mean HATE. Finding one who likes wallpaper at all is one thing, finding one that likes fire engine red faux croc is a whole other thing. Without the wallpaper the nice cabinets, tops, tile, paneling and fixtures would stand out. With the wallpaper, only the wallpaper stands out and it is going to be a major obstacle.
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Old 11-07-2014, 09:31 PM
 
9,891 posts, read 11,712,149 times
Reputation: 22086
Old facts in Real Estate.

An over improved property (house or condo), in a working class neighborhood, is almost impossible to sell, unless you price it down to be competitive with other properties in the general area.

Reason: People want to buy a nice property priced in the vicinity of other similar properties in the same general area. If they want a property such as yours which is way over improved for the area, they are going to want an area that is of similar quality. A vastly over improved property, is not worth much different than any other similar size property in the same general area.

It all goes down to the three most important factors in real estate....Location, location, and after those two locations are taken care of, the final one is location. You property is just in the wrong location, to sell at the price you are asking.

Quote:
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...
No matter what you think, surgeons, lawyers, single high-income professionals, are not going to want to live in a lower middle class part of town. They will pay more, and live in a high end part of town. The old saying, 'You cant make a silk purse out of a sow's ear', is in play here.

The old theory, 'If you want to make money on a home when you sell it, buy the cheapest home in an upscale part of town'. That home will always sell for top dollar and quicly. You have just over improved your home out of the market for your area.
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