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Old 10-05-2019, 07:37 PM
Status: "Hard Money Lender " (set 20 days ago)
 
287 posts, read 71,438 times
Reputation: 577

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Quote:
Originally Posted by mschrief View Post
Well I guess I'm pretty impatient. Been four days on the market for our home with only one showing.

I am in TX and I thought this was a hot market. I think there is WAY too my inventory. Housing listed for 3-6 weeks with no offers.

Middle class neighborhood...I think our house is overpriced. Very depressed about it as our offer for new house in WA was accepted and here we sit.

https://www.realtor.com/realestatean...x=TX2706136284
The full size refrigerator in the bedroom is a nice touch. You might consider relocating that appliance. Four days, one showing isnít the end of the world. Give it a couple weeks and see where you are. After Labor Day, in my market, things slow down because families are not looking to relocate voluntarily. If you donít see something after a couple weeks, you are probably overpriced and need to adjust.
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Old 10-05-2019, 08:20 PM
 
Location: planet earth
5,490 posts, read 2,145,330 times
Reputation: 12230
Haven't read replies, but IT'S ALWAYS PRICE (no matter what the reason for it sitting on the market). Price can fix any defect.
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Old 10-05-2019, 11:09 PM
 
374 posts, read 106,950 times
Reputation: 781
Quote:
Originally Posted by mschrief View Post
Well I guess I'm pretty impatient. Been four days on the market for our home with only one showing.

I am in TX and I thought this was a hot market. I think there is WAY too my inventory. Housing listed for 3-6 weeks with no offers.

Middle class neighborhood...I think our house is overpriced. Very depressed about it as our offer for new house in WA was accepted and here we sit.

https://www.realtor.com/realestatean...x=TX2706136284
You're just priced at the top of the market in that neighborhood. You've got 50ish direct comps that are priced less than yours, many of which show VERY well online.
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Old 10-06-2019, 05:40 PM
 
Location: Round Rock, Texas
10,970 posts, read 10,504,422 times
Reputation: 14719
mscrief: I agree with Skipito. You've done a great job staging your home but the problem is that your direct competition shows nice as well, give or take an update or two, and are priced lower, and/or have a bigger lot, and/or larger.

Given the DOM for the area, four days and one showing is probably par for the course. this time of year there's a cooling down. there are homes in my neighborhood that have sat for days.

for must-sell situations like yours, then you might want to consider opendoor/ibrokers. in a way, they're best for those who need to sell quickly and since you've kept your home looking nice they won't deduct from your proceeds for repairs. might be worth checking out. i wouldn't put an offer on a home without a contract on my current home, but that's me.
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Old 10-06-2019, 06:07 PM
Status: "Hard Money Lender " (set 20 days ago)
 
287 posts, read 71,438 times
Reputation: 577
Quote:
Originally Posted by riaelise View Post
mscrief: I agree with Skipito. You've done a great job staging your home but the problem is that your direct competition shows nice as well, give or take an update or two, and are priced lower, and/or have a bigger lot, and/or larger.

Given the DOM for the area, four days and one showing is probably par for the course. this time of year there's a cooling down. there are homes in my neighborhood that have sat for days.

for must-sell situations like yours, then you might want to consider opendoor/ibrokers. in a way, they're best for those who need to sell quickly and since you've kept your home looking nice they won't deduct from your proceeds for repairs. might be worth checking out. i wouldn't put an offer on a home without a contract on my current home, but that's me.
Opendoor or iBroker? Not unless you want to take a very large haircut on value which at $229K list price there isnít a lot room I imagine. The moral of this story is donít offer on a new place until you have the old place at least under contract. Putting yourself in a must sell situation is terrible and buyers sense desperation
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Old 10-06-2019, 08:02 PM
 
Location: Round Rock, Texas
10,970 posts, read 10,504,422 times
Reputation: 14719
Quote:
Originally Posted by Spokaneinvestor View Post
Opendoor or iBroker? Not unless you want to take a very large haircut on value which at $229K list price there isnít a lot room I imagine. The moral of this story is donít offer on a new place until you have the old place at least under contract. Putting yourself in a must sell situation is terrible and buyers sense desperation
From what Iíve heard sellers at that price point donít take as big of a haircut as youíd like to think.
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Old 10-06-2019, 09:27 PM
Status: "Hard Money Lender " (set 20 days ago)
 
287 posts, read 71,438 times
Reputation: 577
Quote:
Originally Posted by riaelise View Post
From what Iíve heard sellers at that price point donít take as big of a haircut as youíd like to think.
At that low of a price point, anything amount is a good size haircut percentage wise.
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Old 10-06-2019, 09:36 PM
 
374 posts, read 106,950 times
Reputation: 781
Quote:
Originally Posted by Spokaneinvestor View Post
At that low of a price point, anything amount is a good size haircut percentage wise.
Which isnít relevant.

Theyíre overpriced by almost 10% as it is.
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Old 10-06-2019, 09:56 PM
Status: "Hard Money Lender " (set 20 days ago)
 
287 posts, read 71,438 times
Reputation: 577
Quote:
Originally Posted by Skipito View Post
Which isnít relevant.

Theyíre overpriced by almost 10% as it is.
They mentioned exploring an OpenDoor offer. The fact that they are overpriced is irrelevant in the case of OpenDoor. OpenDoor makes their offer irregardless of list price. As I said, any amount is a haircut, percentage wise, for $220K+/- property.
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Old 10-07-2019, 09:46 AM
 
Location: Round Rock, Texas
10,970 posts, read 10,504,422 times
Reputation: 14719
there's someone who posted on here - can't recall the topic - who had sold in that price range and they said that their offer wasn't that bad, especially since they didn't get any deductions for repairs.

now, in my price range ($500k-up), the iBroker offers stank, and no one would even consider dealing with them.

i'm not necessarily in favor of opendoor and their ilk, but they do serve a purpose for those like that poster, who finds herself in a "must sell" situation. I stand by my suggestion that she consider them if things drag out and she really needs to move/want the WA house. Yes, you may have lost some "profit" from the sale, but you'd get to move. Again, I wouldn't bother with Opendoor/Offerpad/whatever, but it's not that bad for people like that poster. Also, her area seems to not be as hot as she thought at the moment. It happens.
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