Someone please buy my house! (appraise, mortgages, percentage, value)
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I am so sorry that it has taken you so long to sell your home, it is beautiful!
I feel your frustration, our home has been on the market since September 08 (I realize it is a much shorter time,but...) we have had not one single phone call,not one showing,nothing!
We just built the home last year and have been relocated. The home is brand new obviously, lots of upgrades,beautiful kitchen, brand new fenced yard and in a beautiful area... Nothing!
We are so upset and have already reduced it 2x, already below what we paid for it.
We are now being told by our relo company we need to reduce it more,but we honestly,at this point,cannot afford to do so.
It is just horrible out there right now...
I even have my St.Joseph's statue buried in the yard!
About 250k will be the bottom for this house. Lower it to $300k or 290k now. It'll be your last chance before every last buyer closes their check book for the next 3 years. I'd take the lose now, rather than take in the shorts over the next 4-6 years.
Location: Halfway between Number 4 Privet Drive and Forks, WA
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Quote:
Originally Posted by amerifree
About 250k will be the bottom for this house. Lower it to $300k or 290k now. It'll be your last chance before every last buyer closes their check book for the next 3 years. I'd take the lose now, rather than take in the shorts over the next 4-6 years.
Please explain what you mean in the part I highlighted....
It is NOT price at this point, it's just scared buyers with much to choose from when they are ready and willing to buy.
Speaking as someone who has been aggressively looking to buy for the last few months, let me say that it is ALWAYS about price to a greater or lesser extent.
Frankly the house looks great, and I would be stunned if any of the above mentioned fixes improves the outlook significantly. But If Metro Atlanta is anything like Raleigh/Durham, there are literally thousands of similarly beautiful homes, with OK commutes in planned communities to choose from. After a while, all the houses of a certain vintage in the suburbs/exurbs start to look alike. For us, the only thing that makes this kind of a house stand out from the throng is a lower price--not minor stuff like paint color or cabinet choice. Something 10-20% lower than actual recent (post-crash) sales gets my attention, but it may be more or less in suburban Atlanta.
There's a lot less worry about losing your shirt if there is a significant discount up front.
I'd be interested to know if there have been any "low-ball" offers and what those were.
Once the bottom starts to drop out (hasn't happened yet), the risk in buying a house will be like buying stock in a falling market. Sellers will need to think like buyers....where will this market be in 6 months to a year.
you have a beautiful home. Have you had showings, and what has been the feedback?
One thing I noticed is that 2 of the bedrooms have the bed in front of the window. Why is that? If there's not room to put the bed anywhere else, that might be a reason people are passing it by. Can you rearrange the rooms? And I agree with getting rid of the pink. Most people can see by paint color but there are some that cannot.
I happen to like the white kitchen. Makes it look clean.
I guess everyone can wait till interest rates go back up to 10% or 12% or higher. Just since election they are inching back up.
Killer, Step away from the TV. $150,000? In your dreams. This is Gwinnett County, GA we're talking about...not CA, AZ, or a bubblelicious market. To imply our values will lose 60%, just because CA did or is, is insane. Although I do agree with your some of your other points you listed....
I rarely agree with Killer in anything he ever posts. But I agree with him here. Whats so great about Gwinnett Cty? The same thing as San Diego, Las Vegas, Pheonix and on and on and on?????
Killers estimate already happened. My home in Vegas went from $300K to less then $150K in 3 years Back in 05 everyone said NO NO NO way can that ever happen. Ha... guess what happened.
I dont know if it will halve again but make no mistake, it will continue to go down. I dont care what you or any appraiser says it is worth. If no one is willing to buy it then it is worthless. Does that make sense?
The price drop of the month club thing means that buyers will sit back and wait for yet another drop and then another.
The only way to get sold in some areas is to thoroughly undercut the competition. If you are competing with relocation company-owned homes, foreclosures or short sales, you probably cannot compete.
For the OP: Why are you selling? What's going to happen if it does not sell?
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beds in front of windows
This is Gwinnett County, GA we're talking about...not CA, AZ, or a bubblelicious market. To imply our values will lose 60%, just because CA did or is, is insane. Although I do agree with your some of your other points you listed....
