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.
We are moving into different state due to personal reasons...
We found an amazing home in the place we want to be and put an offer. Offer was accepted, but contingency rejected... We were not worried, because we knew we live in the state that is very popular right now, and people are flocking there... So we thought we will sell our house quick...Our bank approved us without contingency, because we have lots of equity.
Well... a week passed, 3 families look at open house... on Saturday, Sunday... and no offers... We dropped the price some... still,no calls,no offers... Seems to be reasonable, because my husband is an appraiser..
The problem is we do not have time to remodel much... We would lower the price some if people would ask,,, but nobody asks...The house is in well-off area with huge mountain view... Huge shop, and other sheds. House is 2.400 sq feet . Almost 4 acres..
When we sold our previous house in Seattle area 4 years ago, we also were in a hurry, and sold just fine...
We always sell BY OWNER.. Because my husband is a Real Estate Appraiser and does not "overprice"...
What can be the reason? What are we doing wrong?
Either not enough people are seeing the listing, or potential buyers are just not perceiving value in the property as priced, so are not bothering to see it.
How are you advertising?
Are you getting your property well exposed to the market?
Great photos?
Punch up the advertising, if needed.
If your advertising exposure is excellent, the issue is price.
Cut the fat out of the price, and don't wait for someone to ask.
We are moving into different state due to personal reasons...
We found an amazing home in the place we want to be and put an offer. Offer was accepted, but contingency rejected... We were not worried, because we knew we live in the state that is very popular right now, and people are flocking there... So we thought we will sell our house quick...Our bank approved us without contingency, because we have lots of equity.
Well... a week passed, 3 families look at open house... on Saturday, Sunday... and no offers... We dropped the price some... still,no calls,no offers... Seems to be reasonable, because my husband is an appraiser..
The problem is we do not have time to remodel much... We would lower the price some if people would ask,,, but nobody asks...The house is in well-off area with huge mountain view... Huge shop, and other sheds. House is 2.400 sq feet . Almost 4 acres..
When we sold our previous house in Seattle area 4 years ago, we also were in a hurry, and sold just fine...
We always sell BY OWNER.. Because my husband is a Real Estate Appraiser and does not "overprice"...
What can be the reason? What are we doing wrong?
First things first - the house you're buying has nothing to do with the house you're selling, nor does the house you sold in a different state in a different time. Your bank approval and lots of equity is also irrelevant. The specifics of your house and view are meaningless when you don't even mention your asking price. The fact that your husband is an appraiser does not mean he is without bias.
You say the house is not overpriced but you also say it needs remodeling and you're willing to reduce the price because of that. Why are you waiting for people to ask? The solution is clear to me.
If it needs a remodel, they may not have the $$ to do what they'd want to do. A few people I know who've purchased homes recently were all in the market for something that did not require them to do anything more than perhaps paint. Too many other expenses for them.
I suspect it's the 'remodel' part of your post. Just what needs to be done? People are spoiled by HGTV and want to walk in and not have to do anything.
I suggest fresh eyes. Not a friend who won't be honest for fear of being insulting. Get the outside opinion on what your house is lacking.
The problem is we do not have time to remodel much... We would lower the price some if people would ask,,, but nobody asks...
Depending on the typical demographics moving to your area, if it's predominantly newly formed family, young people, they may not have the desire or time to remodel.
If you want to sell quick, then reduce the price. If it needs remodeling, and comps in the area don't, then you need to price it below the comps. In the current market, I'm guessing people are not wanting to give a low offer.
However, I am curious about what type of updating is needed? In my mind there are three types of buyers. The first is the buyer who doesn’t have the cash or desire to do updating. They want the house to be done. The second type of buyer is one who has some cash and is willing to do some cosmetic updates, for example, paint the interior, replace flooring, perhaps replace the countertops in the kitchen, but they can’t afford or they don’t have the desire to do any sort of major remodeling. The last type of buyer is one who is happy to major remodels. They will gut the kitchen and bathrooms. They are happy to take things back to the studs. I suspect most people fit into the first two categories of buyer. So I would wonder if you house would appeal to those two types of buyers at it’s current price point.
And personally, it sounds like your house might be a little more on the unique side. Is 4 acres the average lot size? Is 2400 sq ft around the same size as your neighbors? Are outbuildings typical of properties in that area? Personally, I think you need to use a realtor. For the exposure alone.
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.
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.
