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Old 11-09-2014, 09:21 AM
 
5 posts, read 7,140 times
Reputation: 10

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Help! Why is our house not selling!?!?

Newer house in 34655. 5 bed, 4 bath, 2,700 sq ft. Great neighborhood. Decided to list it after frenzy of sales in neighborhood this past summer. Realtors had lists of people wanting to buy in neighborhood!?!?

We made sure house was in MODEL PERFECT condition before listing. Has all the modern requirements like granite, bonus room, etc. Listed house (empty with no furniture) in mid-August with excellent local agent for $325k. We studied comps and priced it in the middle of the market. We got a flurry of showings but no offers. Dropped price after 30 days on market and no offers to $299k. More showings. Finally one offer but it fell through due to buyer financing. Since then, more showings but no offers. Feedback from showings is always the same - "great house, love the house, great condition" etc. etc. Well- if it is so great, why has it not sold?!?

Listing agreement ends soon and we are considering going FSBO and dropping price 10-20k (what we would have paid to realtor in commission). Yes, we know what is involved with FSBO and we would list it on MLS. But we are also facing the holiday season which is traditionally slower....

Why has this house not sold??? Other houses in the neighborhood have sold during this time, but they are smaller homes at a lower price point. Has the real estate market tanked since the summer? We have noticed more days on market for listings near us since August.....

Do we give it more time? Go FSBO and be more aggressive with marketing (flyers, mailers, etc.) or do we need to face the music and just rent it out?

Thanks for the advice,

Totally frustrated and confused in 34655.
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Old 11-09-2014, 09:34 AM
 
Location: No Man's Land
351 posts, read 321,186 times
Reputation: 892
Why has this house not sold??? Other houses in the neighborhood have sold during this time, but they are smaller homes at a lower price point. Has the real estate market tanked since the summer? We have noticed more days on market for listings near us since August.....

Is your home over-sized for the neighborhood? If so you won't get the same price per sq. ft. of the average smaller homes near you.

When you say smaller homes are selling at lower price point....how much lower than the $299K you are asking?

Also, when you say you 'studied comps,' did you actually have your agent take you to other listings, those a bit above and a bit below your price? If not, go look at some now and see if you can objectively see what potential buyers are seeing.

While the market slows due to Thanksgiving/Christmas, if you are in a desirable location for snowbirds, you may get more traffic after January 1st.

Good luck!
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Old 11-09-2014, 09:41 AM
 
4,586 posts, read 5,612,940 times
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Sounds too big to clean to me...5 bedrooms needs a maid...
Are u around good schools? Because I'm not sure those looking to retire to FL are looking for such a big place!
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Old 11-09-2014, 09:42 AM
 
5 posts, read 7,140 times
Reputation: 10
Our house is in the middle - there are homes smaller and larger than ours.

Larger homes have sold but infrequently - like 1 in the last 3 months. The smaller homes are actually selling for more per square foot than ours. The houses that have sold are selling between $230k and $280k. Only 2 or 3 have sold above $300k in the last 3 months. We are considering dropping down to the 280s if that would get it done- but we are basically giving it away at that point. At this point, I can't figure out what is the right price for that house.....

We just wonder if staging would help or would that be a waste? Or has the market just slowed down????

THANKS FOR ANY ADVICE!!!!
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Old 11-09-2014, 09:55 AM
 
30,434 posts, read 21,271,177 times
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2 many homes for sale i would guess.
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Old 11-09-2014, 10:03 AM
 
671 posts, read 890,789 times
Reputation: 1250
Understand that people buy by the seasons...5 bedrooms is a big family house. Your likely buyers market starts at the close of the school season.........Didn't your real estate person tell you that?
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Old 11-09-2014, 10:28 AM
 
4,586 posts, read 5,612,940 times
Reputation: 4369
Quote:
Originally Posted by USAGeorge View Post
Understand that people buy by the seasons...5 bedrooms is a big family house. Your likely buyers market starts at the close of the school season.........Didn't your real estate person tell you that?
This: ^^^^ is very true!
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Old 11-09-2014, 10:40 AM
 
Location: tampa bay
7,126 posts, read 8,655,613 times
Reputation: 11772
I once sold and bought a home over the Christmas season...they were relocating to our area...saw my home over long Thanksgiving weekend and we closed Christmas week...it can happen...but of course timing it around the school year for family homes is more common....Also when selling by owner leave a least 3% in asking price because you just may have to deal with a realtor...just make sure if realtor calls you for a showing...insist they bring an actual client no "previews" because often that is bs and they just want face time with you to get your listing...
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Old 11-09-2014, 12:03 PM
 
Location: Tampa, FL
877 posts, read 1,913,528 times
Reputation: 747
Are you on MLS? I'm not getting your house to come up. I don't see any 5/4 homes for $299k.
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Old 11-09-2014, 12:08 PM
 
Location: Tampa, FL
877 posts, read 1,913,528 times
Reputation: 747
Nevermind, I found it. You are a 4/4 with office.

1st thing I see- lovely house, good schools.

2nd thing I see- pics could be a little bit better. Staging would help. Not bad or anything, just not making me want to run out and see it. Where is the pic of your backyard? Do you have a backyard?

It looks like you bought near the top of the market and you are priced somewhat similarly from when you bought. The market has come back, but not quite that much. People are still expecting deals.

My best advice it to drop another $5k, take more pictures and just wait it out. Good luck!
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