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In my opinion, your home is properly priced but there are too many homes available between the 285K-350K$ range.
I agree. It looks as though there are a lot of new construction units on the market or recently sold on your street. Also, your house has one of the largest lots and more sq ft than most of your neighbors. If you have the nicest property in the neighborhood it will drag the price down.
Others have made the same suggestion: drop the price to $299999 - $305000 and emphasize the three car garage and what a screaming good deal this is for a large family.
Because of the number of showings you've had, I'm not convinced that it's overpriced. If it were overpriced, people wouldn't bother seeing it in person. They'd see the price, see the pictures, and scroll to the next listing. IMO, there's something about the house or it's location that buyers are noticing during the showing that is turning them off.
For me, the proximity of the neighboring homes would be a problem. You guys are right on top of one another. The listing description calls it a large private lot - it is not private. Have your agent remove that word. Additionally, could it be the wide angle photo of the backyard makes it appear the backyard is larger than it actually is? I realize those are things that cannot be changed. It is what it is. And even though it may not be overpriced, you may need to lower the price to deepen your pool of buyers and someone will overlook those things for the right price.
Also, if the lot lines shown on Google maps are accurate, it appears that a corner of one neighbor's house is actually on your lot? If I'm buyer, just seeing that is concerning. If Google maps is inaccurate, have your agent upload an image of the survey showing the actual setbacks and locations of the structures.
You're close to BNA. What about plane noise?
What's the average days on the market for homes on your street?
With the number of showings you've had, I feel like your agent should have gotten some feedback about why there's been no offers.
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 ?
The agent has nothing but great reviews and is well known in the community. He says he feels it's priced correctly, just due to the layout (floor plan) it's going to take the 'right family' to buy it. This is based on feedback he's gotten from showing agents and his own knowledge of the area. I've given him the authority to begin incremental price drops because I don't care if it's the right family or almost right family, I need it sold and can afford to drop some.
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.
THANK YOU. Lots of good options there. I have noticed from the ADT reports (which indicate which doors open and when) that people viewing the home go straight to the garage, so the 3-car garage must be getting some folks attention.
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.
I just reached out to Opendoor to request an offer. Curious to see if it'll be low. I spoke with another 'cash offer' company and they wanted to give me $250k for it. Out of the question. Opendoor appears to be different though. Thank you, if nothing else I'll have an offer and know my bookends.
Your kitchen looks like it is very tight and closed off from the rest of the house. If that is the case, you are likely overpriced as that is a negative to buyers. Most will want to open a wall to open the kitchen but the home has to be priced lower to allow for that remodel.
"Any ideas where I should go from here?"
that depends.
1. what is your exact and specific drop-dead date to sell at your current price?
2. other than you and your buyer, what other considerations exist for the sale?
3. would you entertain becoming a rental landlord?
1 - there's really no drop-dead date, but my firm goal is to be out of the home before Thanksgiving.
2 - not sure what you're asking, could you please elaborate?
3 - the terms of my mortgage require that I be the resident; that aside, it's not something I'd consider anyways because I would like the proceeds from the sale to pay off some outstanding debts I have.
That’s not something the OP can change so what’s your point? Other than kicking a guy when he is already in a bad situation? By the way I don’t agree with you.
How many homes have sold during the time you have been listed, if zero, then price might not be the answer. Is it a hot or cool market as per your realtor? What are the average days on the market?
As an 18 year former realtor, money talks more than anything. People feel a vibe when they walk in based on many factors, then they picture what they would need to do to the home to be comfortable living there. What may seem like something small to you might seem gargantuan to them.
Houses usually get the best offers when they are new listings, the longer they're on the market, the less desirable they feel to buyers. Adjust accordingly.
There were at least 5 within just a short drive's distance that were contingent on Redfin. None that I'm aware of have closed, but they're ahead of me - they have gotten offers which were accepted. I haven't even gotten a bad offer yet.
The realtor wants feels the home itself is fine, it's just the floor plan isn't for everyone and it's going to take the right family. Right or wrong, I tend to agree with you - money can change anything. He wants to do incremental price drops vs one large drop. I'm undecided but open to it. I know my bottom dollar so the increments and the time frame he's suggesting would work out, we'll just be entering months where there are even less buyers.
T He says he feels it's priced correctly, just due to the layout (floor plan) it's going to take the 'right family' to buy it. This is based on feedback he's gotten from showing agents and his own knowledge of the area. I've given him the authority to begin incremental price drops because I don't care if it's the right family or almost right family, I need it sold and can afford to drop some.
Then that's your answer and you're going to either have to be patient or lower the price so cheap that people can overlook its flaws.
Floor plans that don't work for couples, just don't work for couples. It's difficult to force the issue.
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