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Old 09-18-2019, 03:23 PM
 
Location: equator
3,925 posts, read 1,710,941 times
Reputation: 9798

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Not to depress you, but it took us 3 YEARS to sell our place. Eventually dropped from $235,000 to $150,000 basically the price of the land. Tired of waiting.

ETA, also why I joined C-D, as well. Lots of good advice here.
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Old 09-18-2019, 03:23 PM
 
28 posts, read 9,122 times
Reputation: 74
Quote:
Originally Posted by jghorton View Post
Unless there is some 'fatal flaw' in your home, it sounds like price is likely the culprit. Are other homes in your area moving - or likewise, experiencing multiple showings without sales?

As someone else pointed out, homes don't sell by the square foot, any more than automobiles sell by the pound. The fact that you have focused on this, rather than the overall price of comparable homes, suggests an "adjusted square footage," customized to get you to $131 per (?).

Are similarly sized homes in your development, claiming less square footage? Buyers will quickly pick-up on that, ... even if you believe a higher number is justified. (Have you, for example, converted a garage or patio to living area and are now claiming that added footage?)
Most of the homes I've looked at in comparison to my own are similar in square footage and (+/- 300 SF) and close in price. Some homes have open concept, some not so much but I'd say still more open than my own. Some have much smaller lots, but have fenced in yards. My home doesn't have a fenced in yard. Some have enclosed patios, mine does not. Mine has a 3 car garage, I haven't seen other listings with a 3 car garage.

There are definitely homes that have been listed for awhile and I'm not sure on how many showings they have or haven't had. I've been trying to look today at homes listed as pending/contingent on redfin to compare to my own. What do they have that mine doesn't? Most of that has been duly noted in this thread, so I'm going to discuss with my realtor this afternoon about a price drop. This is a poor time of year to sell, but I can't choose when....issues lead to a home sale.
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Old 09-18-2019, 03:28 PM
 
Location: The Triad (NC)
29,190 posts, read 63,439,974 times
Reputation: 33541
Quote:
Originally Posted by volfan4life87 View Post
Did you even look at the listing ...? ; - $324,999. $20k
Nope; and 6%.


The Q becomes: Would a serious buyer there make an offer at 5% off asking.
Something like a buyers market with a lot of supply ... or a 'motivated' seller...
If they did they sh/could probably make a deal at $308,000
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Old 09-18-2019, 03:34 PM
 
28 posts, read 9,122 times
Reputation: 74
Quote:
Originally Posted by Sand&Salt View Post
Not to depress you, but it took us 3 YEARS to sell our place. Eventually dropped from $235,000 to $150,000 basically the price of the land. Tired of waiting.

ETA, also why I joined C-D, as well. Lots of good advice here.
Wife wont sign off on such a low price. In this unfortunate scenario, Id let the bank just come take it before I waited that long.
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Old 09-18-2019, 03:39 PM
 
28 posts, read 9,122 times
Reputation: 74
Quote:
Originally Posted by MrRational View Post
Nope; and 6%.


The Q becomes: Would a serious buyer there make an offer at 5% off asking.
Something like a buyers market with a lot of supply ... or a 'motivated' seller...
If they did they sh/could probably make a deal at $308,000
That I do not know. I’d have to ask the realtor. The tax assessment is $296800 and every house at every tier in the entire region is bringing well above their tax assessed value, currently. I’m a Civil PE not a realtor so I don’t have a big feel for this market, just the numbers aspect. I know in Nashville multi family is becoming much more prevalent - developers are buying older homes just to combine parcels, get it rezoned and build townhomes/apartments. That’s about the extent of my realty knowledge.

Last edited by volfan4life87; 09-18-2019 at 03:49 PM.. Reason: Autocorrect
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Old 09-18-2019, 04:24 PM
 
935 posts, read 256,751 times
Reputation: 2493
Quote:
Originally Posted by volfan4life87 View Post
Most of the homes I've looked at in comparison to my own are similar in square footage and (+/- 300 SF) and close in price. Some homes have open concept, some not so much but I'd say still more open than my own. Some have much smaller lots, but have fenced in yards. My home doesn't have a fenced in yard. Some have enclosed patios, mine does not. Mine has a 3 car garage, I haven't seen other listings with a 3 car garage.

There are definitely homes that have been listed for awhile and I'm not sure on how many showings they have or haven't had. I've been trying to look today at homes listed as pending/contingent on redfin to compare to my own. What do they have that mine doesn't? Most of that has been duly noted in this thread, so I'm going to discuss with my realtor this afternoon about a price drop. This is a poor time of year to sell, but I can't choose when....issues lead to a home sale.

You have a simple clean blank slate uncluttered home.
Not bad- a lot of potential. The front of the house looks very good with landscaping and a path to your garage.
Your backyard is underwhelming- buyers without imagination may have trouble picturing how family can use it. Now it screams: chores of mowing grass or money out to a landscaper. Nothing to do in the yard.
Openness to the street does not help- no perceived safety/ privacy.
Yet, your listing I think on RedFin starts with the word impressive. It may disappoint buyers looking for “impressive”.
You said you had a lot of traffic, but it could be the wrong type buyers who then get disappointed while at the house.
Do you have a street noise, some other negative things around in your neighborhood?

Suggestions:
I would look into a different description, emphasizing your 3 car garage as the only one in the neighborhood for “car lovers” or “ a lot of place for your toys- motorcycle, etc.
- was there actually a photo inside of your roomy garage? Get a great ones.
And your “clean blank slate” home ready for the “ interior designer at heart” or better “ready for your warm touches”.
What about schools nearby? 4 bedroom could be family with children. Describe how far/ close the schools, kindergartens, parks, gyms, walking path, bike path?
Use the word “young family or growing family would enjoy the privacy of the upstairs bedrooms in this spacious home”..- young families may not care much about a bedroom downstairs or actually prefer to be on the same floor with their younger children.

If in fact you have a new construction homes nearby- compare their prices: and then you could have mention to buyers that your home is practically new, but without worries of potential builders defects- as you can attest to the soundness of your home, etc.
Could you consider planting narrow evergreens? around you backyard for privacy-even if they are on a smaller size- buyers would have an idea.
I do not understand why people neglect planting trees/ shrubs - the appeal of the natural privacy and greenery is subtle, but sells homes
Get a free patio set from the Craigslist- some people dumping old furniture at the end of the season- buy a fire ring at HD at a discount under $100- and make your patio to look cosy with some inexpensive string lights and a fire in a fire ring?

Get better descriptions and better photos.
Alternatively- drop the price $25k to place yourself under a $300k? And beat the competition? I think, you priced it right compare what is nearby- but... Buyer would rather pay $10-15 k more and have “ an instant” fenced in yard and a porch... which is lacking in your home compare to your competition.
Or you could be patient and wait for your buyer as is.
Try a new description first and emphasize your 3 car garage...and a huge backyard for young families- “ play soccer or baseball with your children in our large level backyard”
It could help.

Last edited by Nik4me; 09-18-2019 at 05:05 PM..
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Old 09-18-2019, 04:30 PM
 
Location: DFW - Coppell / Las Colinas
32,656 posts, read 37,274,060 times
Reputation: 39709
What does your agent say is wrong with the house?

If they are any good at all they will know what's wrong. You did get a good agent and not one that was the "Cheapest" right ?
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Old 09-18-2019, 04:37 PM
 
Location: annandale, va & slidell, la
7,850 posts, read 3,210,457 times
Reputation: 6718
Quote:
Originally Posted by volfan4life87 View Post
Hey everyone, I'm trying to sell my home in probably not the most ideal time of year but I really need it to sell quickly due to some personal issues. My home has been listed for 3 weeks and has had two open houses, lots of showings (I've lost count, probably closer to 20 than 10 but I'd say under 20) but not a single offer. I already know the first thought is PRICE but my home is priced very comparably to current listings and previous sales in my area of Murfreesboro. I'm extremely anxious to sell, again, due to personal reasons but obviously don't want to just start dropping the price and give the house away. The downstairs HVAC is 5 years old, split-unit is 4 years old, 3 year old 3/4-inch hard wood flooring in all the downstairs, 2 year old thick padded, high quality carpet in every other part of the home that isn't a bathroom. I haven't received any feedback that the home is priced high, but have received feedback that the kitchen is somewhat small (it is) and that buyers do not like that all of the bedrooms are upstairs.

Ideally I'd like to be under contract before the end of this month or early October before we hit the dead period/holiday season. Any ideas where I should go from here? There are other homes in the area that have listed around the time that my home listed and are already listed as contingent on Redfin, which was a bit depressing to see.

Listing below:

https://www.redfin.com/TN/Murfreesbo.../home/60850429

https://www.realtracs.com/listings/2...rt=defaultDesc

https://www.zillow.com/homedetails/2...d/?view=public
You are in a hot area near Nashville, so seems your price is out of whack. Have family in Franklin and Leiper's Fork.
Not as crazy as Nashville, but better than many rural regions.
Listen to your agent, or just stay put for a while.
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Old 09-18-2019, 06:12 PM
 
Location: Kansas City North
4,250 posts, read 7,510,234 times
Reputation: 6498
It’s a nice house. The listing pictures are somewhat confusing (out of logical order). I like to see entry, living, dining, kitchen, then any other 1st floor rooms. Then master, master bath, other bedrooms. If there’s similarly priced new construction nearby, that’s a big problem. Lack of a fenced yard is a drawback with a family-type home, especially if most of your competition has it. We had an 15 month sale ordeal in 2009-2010. Our agent suggested we fence our yard, we did and were under contract within a week. Might have just been coincidence.

Good luck!
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Old 09-18-2019, 07:01 PM
 
3,417 posts, read 3,142,028 times
Reputation: 5018
Quote:
There are a lot of new construction homes in your area, within the same price point, square footage and beds & baths. The new construction homes may sway buyers towards them and away from you, do to HGTV syndrome.

I live in the urban core/Nashville and the same here. Everyone wants new and shiny with rooftops decks (that they will rarely use).


OPer - have you thought about contacting Opendoor.com? If you are in a time crunch, it might be an option. My neighbors moved out of town and were closing on new construction in the new town and really needed to sell. Like you, they have lots of showings, good comments, no comments about being overpriced, etc. and they were just about to take the house off the market and rent it out when Opendoor contacted them and bought their house with a quick close.
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