Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 11-11-2014, 05:59 AM
 
3,826 posts, read 5,777,335 times
Reputation: 2397

Advertisements

Quote:
Originally Posted by Carson9 View Post
Not really. It could be an unrealistic buyer or someone who likes to start negotiations really low (bad move).
I am not saying first offer was a valid offer, but if there were no other offers, it means even someone who liked the houses DID NOT make an offer because of its high price.
Reply With Quote Quick reply to this message

 
Old 11-11-2014, 09:26 AM
 
Location: Living rent free in your head
42,757 posts, read 26,009,001 times
Reputation: 33869
There's not enough information here to even comment...it could be overpriced, or it could be that it needs a little work- maybe rent a storage and put all your personal photos and 1/3 of your furniture in it, clean up the yard trim the bushes, paint the front door. Go out on the weekend and look at open houses that are comparable to yours and then follow the activity on them, see if they are actually selling and what people are getting for them. In areas that appeal to young families you might see 4 bedroom houses sell far more quickly than a 3 bedroom. In other areas where older people are buying you might see a two story languish on the market while a single story sells a day after listing.

If you really want opinions, post the listing and let people make some educated guesses about what you might do differently
Reply With Quote Quick reply to this message
 
Old 11-11-2014, 10:37 AM
 
Location: Annandale, VA
5,094 posts, read 5,156,823 times
Reputation: 4231
Quote:
Originally Posted by abolgani View Post
Hello. I am in the middle of selling my home. My home has been on the market for 18 days and my Realtor has hosted 3 open houses. I have received only one offer which was 40K below my asking price. My Realtor will be hosting 2 more open houses later this week. I am not sure why my home isn't selling since I live in hot market where there tends to be bidding wars. I believe my home is competitively priced. Any advice? This is the first time I have sold a home so I'm not sure typically why a home doesn't sell. Thanks.

"Bidding wars" happen when a house is underpriced and perceived as a "good deal". Multiple people bid on it due to the good starting price. It will eventually be bid up to its actual market value.
Reply With Quote Quick reply to this message
 
Old 11-11-2014, 05:12 PM
 
Location: Sputnik Planitia
7,826 posts, read 11,738,798 times
Reputation: 9045
Quote:
Originally Posted by abolgani View Post
since I live in hot market where there tends to be bidding wars.
There are no bidding wars anymore, those days are gone. In addition, it's slowing down for the winter. To add to it the market is transitioning from sellers to a buyers market.
Reply With Quote Quick reply to this message
 
Old 11-11-2014, 09:18 PM
 
Location: NYC
16,061 posts, read 26,672,315 times
Reputation: 24848
Quote:
Originally Posted by k374 View Post
There are no bidding wars anymore, those days are gone. In addition, it's slowing down for the winter. To add to it the market is transitioning from sellers to a buyers market.
Not sure where you live, but there are bidding wars in our area.
Reply With Quote Quick reply to this message
 
Old 11-11-2014, 09:47 PM
 
Location: Living rent free in your head
42,757 posts, read 26,009,001 times
Reputation: 33869
Quote:
Originally Posted by veuvegirl View Post
Not sure where you live, but there are bidding wars in our area.
Same here (Sacramento area) and also where I moved from (Reno).
Reply With Quote Quick reply to this message
 
Old 11-11-2014, 10:08 PM
 
Location: Balt / DC / ATL / SF / Seattle
292 posts, read 1,241,684 times
Reputation: 323
Quote:
Originally Posted by 2sleepy View Post
Same here (Sacramento area) and also where I moved from (Reno).
You can count Seattle in there, too.
Reply With Quote Quick reply to this message
 
Old 11-12-2014, 01:20 AM
 
Location: Westwood, MA
5,037 posts, read 6,886,673 times
Reputation: 5960
It seems like the OP is in Boston, where bidding wars still happen. At least in certain neighborhoods. I'm not sure of the neighborhood the OP is in, but not selling could indicate that the place is overpriced, something is wrong with the building, or maybe the neighborhood isn't that popular.
Reply With Quote Quick reply to this message
 
Old 11-12-2014, 05:13 AM
 
Location: Howard County, Maryland
1,539 posts, read 2,293,992 times
Reputation: 2450
Quote:
Originally Posted by k374 View Post
There are no bidding wars anymore, those days are gone.
Not true in the Baltimore/DC area.
Reply With Quote Quick reply to this message
 
Old 11-12-2014, 05:34 AM
 
Location: Brentwood, Tennessee
49,932 posts, read 59,685,303 times
Reputation: 98359
Quote:
Originally Posted by cjmeck View Post
Not true in the Baltimore/DC area.
Yep, we get bidding wars too, all the time.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate

All times are GMT -6. The time now is 11:36 PM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top