AGHHHH!!!! My house isn't selling (Charleston, Rock Hill: for sale, to rent, insurance)

[scjj]

My neighbors house across the street has been on the market for 7 months now. Granted it is a little dated inside, but they are making some updates. Hopefully it will sell soon. We are staying put for the long term. There is so much inventory and competition around right now. Foreclosures because of the subprime and interest only loans. Those loans have crashed the market. Good luck to anyone trying to sell.

[Danny5smom]

I'm kind of coming to the party late, so to speak... so I apologize.

Our plans to move have been put off at least two years now. I'm upset by this, but the housing market in California is absolutely awful for sellers right now. To give you an idea of just how bad, our house value dropped $140K in less than 6 months.

There is no way we could sell right now and get a decent down payment for a new place. Luckily we're in a situation where we just want to move, don't need to move. I had hoped to move before our oldest started kindergarten, but I don't think that will happen now. I guess the positive thing about that is that he'll be in the class I want him to be. He misses the September 1st cutoff by 10 days, so would be almost a full year older than kids in his class. Knowing my son, this would be a disaster. I guess I just believe everything happens for a reason.

Good luck to all you sellers out there. Let's hope that this is the bottom of the slump and home prices start to climb again.

[my2kidsmom]

I feel so badly for the people having a hard time selling. It must be awful. The market just hit the bottom in so many areas. I really hope things turn around soon!

[mLeeTaylor]

I am a Realtor and I run into this problem all the time. Any home, in any location, in any condition, will sell today if the price is right. Any home can be sold quickly at a loss as long as the seller can manage to pay off all mortgages and leins at closing. The sad reality is that homes priced over the market (in a down market) do not sell.

[groove1]

I put an offer in on a house two months ago in Rock Hill. The owners refused to lower the price at all (which boggles me, why didn't they set the asking price higher?). They still have not budged, were only willing to pay 1k in closing (which they really don't pay out of pocket) and that house is still for sell. Beautiful house, but a little overpriced for the area and the age of the home. Here it is Allen Tate Family of Companies

(I am not affiliated with the buyer, seller, or agent in anyway. Just wanted to show the example).

[mLeeTaylor]

Originally Posted by groove1

I put an offer in on a house two months ago in Rock Hill. The owners refused to lower the price at all (which boggles me, why didn't they set the asking price higher?). They still have not budged, were only willing to pay 1k in closing (which they really don't pay out of pocket) and that house is still for sell. Beautiful house, but a little overpriced for the area and the age of the home. Here it is Allen Tate Family of Companies

(I am not affiliated with the buyer, seller, or agent in anyway. Just wanted to show the example).

This sounds like another case of they have the home priced as low as they can go and not take a loss. They feel like their hands are tied. They need to open their minds and focus on figuring out a way to pay off the leins against the home. Your offer could be a huge part of paying off their leins and getting them out of the property even if they have to take a little loss.

[groove1]

Originally Posted by mLeeTaylor

This sounds like another case of they have the home priced as low as they can go and not take a loss. They feel like their hands are tied. They need to open their minds and focus on figuring out a way to pay off the leins against the home. Your offer could be a huge part of paying off their leins and getting them out of the property even if they have to take a little loss.

No, they are being greedy. They paid 50k for the home 8 years ago and did all of the renovations themselves. They have not put 76k or probably even 25% of that into that home.

[southernlady5464]

I am a Realtor and I run into this problem all the time. Any home, in any location, in any condition, will sell today if the price is right. Any home can be sold quickly at a loss as long as the seller can manage to pay off all mortgages and leins at closing. The sad reality is that homes priced over the market (in a down market) do not sell.

Being a realtor in a down market is different from being a realtor in an IMPOSSIBLE market. Houses in down markets can sell. There are houses BEGGING to be sold where we just left (metro Detroit/Toledo) and NO ONE is buying homes there. Ours is already priced at a loss...almost half of what we owe and still have not had any serious, qualified offers. Been on the market since last August. Maybe here in SC ANY house can sell but that isn't so in other parts of the country. Liz

[Tupperpatr]

I recently chatted with a family that sold their home in 2 weeks after they hired a "home enhancer service" to come in and stage their home. The company actually came in with linens for the bedrooms, beautiful china and set up for the dining room, etc. They rearranged the furniture to make the best use of the space. Sometimes a fresh eye can really make a difference. The company staged her home so folks looking at it couldn't resist. If you have ever seen the show "Sell this House" on TLC it is the same idea. Just a thought I wanted to share.

One more thing to share. While planting flowers this weekend I found a shamrock plant that I quickly planted in our front yard to bring us good luck in this market. Anything that works

[Gosox05]

What does your home have as far as upgrades? You may want to get a good realtor, maybe it's the way you are showing the house.