Open Houses and No Offers (2014, commissions, mortgage, mortgage company)
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.
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.
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
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.
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.
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.
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.
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.