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We have had two real real estates gives us suggested prices. Both were a low in my opinion and one price was actually insulting.
What's insulting about an honest opinion?
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I say place the home on the market that I want to sell it for and see what happens & reduce in 30 days if no one bites. My husband says place it on the suggested price or rent.
Our neighbor across the street bought her house a year ago for $495,000. Comparable homes (and I mean exact same model in the same tract) are sitting on the market for months today at $320,000.
The question you have to ask is, do you really want to sell it?
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I don't like to idea of renting and dealing with tenants. As for suggested price, that won't give us enough to place on the second home.
Welcome to the real world. You are in the same position as just about everyone who purchased during the boom.
If you REALLY want a good picture of what the home is worth, follow 2bindenver's advice: Call an appraiser. For a few hundred dollars, you will get an accurate picture of what that house is worth in the current market. Then you can make an informed decision.
Actually, I would be careful calling in an appraiser right now. An appraisal tells us what the mortgage company is willing to loan, not what the market value is. Which may be different. and if she doesn't put on the market for a couple of months... then the market could be down even more. Chasing a market down is not a good idea.
Sorry you didn't like what the experts told you your house would sell for. Sometimes the truth hurts. and what you need to get money wise has zero to do with what someone else will pay for what you have now.
Yeah don't bother with an appraisal. Our home appraised (we clearly stated we wanted the appraisal for selling purposes, not financing) for 275k. We have it on the market right now for 249k (just recently lowered again). Listed since April.
The Hubby and I want to relocate to NC in August 2009 but first we need to sell our home in PA. We purchased our home in 2006. It's a new construction and very modern home (4 bedrooms, 2.5 baths, approx. 2700 sq ft). Only used as a vacation home. We have had two real real estates gives us suggested prices. Both were a low in my opinion and one price was actually insulting. The home is located in a really touristy place and million dollars home down 10 mins down the road.
I say place the home on the market that I want to sell it for and see what happens & reduce in 30 days if no one bites. My husband says place it on the suggested price or rent. I don't like to idea of renting and dealing with tenants. As for suggested price, that won't give us enough to place on the second home.
Advice anyone?
Advice? Get over the fact that your home is not the Taj Majal you think it is.....
Millions of sellers thought the same way as you and now after several price reductions are kicking themselves by saying "Why didn't I start out w/an aggressive price to begin with?"
Bottom line, if you don't have enough to cover your new house, lower your champagne tastes and cut back.
The high price of homes 10 minutes down the road is irrelevant BTW.
Agree. The million dollar houses around the corner from me aren't doing me a bit of good . If they were, I would have sold months ago at original list price.
I agree with those that told you that your strategy won't work.
Even if you decided to put it on the market for the price you want and someone made an offer for that price, if they are not buying cash, they will need an appraisal done by their lender. If it doesn't appraise, you would be looking at dropping the contract price to the amount it appraised at, or just not sell.
I also agree that other homes if they are not comparable to yours in size, age, amenities, they would be irrelevant.
Lastly, your serious buyers will be those that will come and look at it when it is first on the market. If you drop it, and they may like it, they will hang around hoping that you would drop it even further or they would think that you are desperate to sell and they will lowball you.
Listen to the professionals and study the comparables they gave you.
I usually tell people to go to realtor.com, go to the advanced search, put in your zip, bedrooms & baths. Pick a wide price range.. with us, we'd be in the $150k to $250k - I needed to see the lower houses and how they compared to mine. This will give you a ballpark of where you're going to list.
Next, look to see what agent has the best ads on realtor.com. For someone like you selling a vacation home, chances are you need someone that advertises a lot on the web. You want someone with good pictures.
Pick 3 agents and interview them. I have a seller's interview question list and can paste it in here if you'd like.
Hard to say if the agents were right or not. Some like to go in low hoping to sell it quickly. No matter what you list for, chances are buyers are going to lowball you by $10k to $25k
The advice and tips given with respect and in good taste will be pondered on. As for the sarcastic comments mentioned in the posts... You wasted your time in posting. Next time someone posts in the forum seeking for advice, remember this.. It is seeking for an opinion not a tongue lashing.
. Next time someone posts in the forum seeking for advice, remember this.. It is seeking for an opinion not a tongue lashing.
Wrong.
Did you come here to hear what YOU want to hear, or do you want the "wake up and snap out of it" truth?
I didn't realize you were that thin skinned.....sorry
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. If they were, I would have sold months ago at original list price.
