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View Poll Results: How many showings per week do you average?
1-2 7 53.85%
3-4 2 15.38%
5-7 2 15.38%
8+ 2 15.38%
Voters: 13. You may not vote on this poll

 
 
Old 04-20-2010, 04:10 PM
 
6 posts, read 14,263 times
Reputation: 13

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I just listed my house 8 days ago and have only had 1 showing. It is through a realtor on the MLS. I am wondering if we priced it too high. It is in a masterplanned community, 3br for 130s.

Does our lack of showings indicate the price is too high? How many showings per week is normal?
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Old 04-20-2010, 04:24 PM
 
Location: Spring, TX
460 posts, read 2,266,231 times
Reputation: 382
You're asking if it's priced wrong. Didn't you do comps?
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Old 04-20-2010, 04:26 PM
 
6 posts, read 14,263 times
Reputation: 13
We did do comps. The same model has been listed for 1K more to 7K less than what we are asking for in the last few months.
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Old 04-20-2010, 04:34 PM
 
Location: Spring, TX
460 posts, read 2,266,231 times
Reputation: 382
OK. Then it's not obviously priced wrong compared to other properties. But clearly if you're not getting the attention you would like, you could lower the price to stimulate traffic. I'm sure it you offered it for $100 people would be flocking to your door. So now it's just a matter of where in that range you want to be. ?what is your expectation on when you want to sell? ?How will you balance speed of sale with maximum revenue? There is a price point at which every house will sell. It's merely a matter of you accepting the outcome.

To your question directly, we recently sold a house in the Bellaire/Meyerland area and had 1-3 showings a week for many months. Turned down the first offer, accepted the second but the buyer's screwed up their credit score and had to back out (probably had a credit check for furniture or a car, stupid), and then accepted one of two competing bids when we finally did sell. But to be fair, for good properties priced correctly in that area, selling is never in doubt given proximity to downtown and Med Center. So comparing my showings to yours isn't helpful.
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Old 04-20-2010, 04:35 PM
 
Location: Houston area
1,408 posts, read 3,725,165 times
Reputation: 637
Quote:
Originally Posted by ranger47 View Post
We did do comps. The same model has been listed for 1K more to 7K less than what we are asking for in the last few months.
Probably a sign you priced too high. The other listing has probably had little showings.

When you review comps, you should look at sold comparables, not just listed properties.
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Old 04-20-2010, 04:39 PM
 
6 posts, read 14,263 times
Reputation: 13
Quote:
Originally Posted by City Love View Post
Probably a sign you priced too high. The other listing has probably had little showings.

When you review comps, you should look at sold comparables, not just listed properties.
All those houses sold. The one that was listed for 1K higher sold for the asking price but they payed 7K in closing costs.
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Old 04-20-2010, 04:42 PM
 
Location: Houston, TX
17,031 posts, read 28,211,803 times
Reputation: 16219
Likely price. The two homes I've sold went to the third person who saw it, and the first. Both times I had it professionally cleaned before showing (money well spent), and the realtors were targeted in on the right price.
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Old 04-20-2010, 04:45 PM
 
2,011 posts, read 3,296,815 times
Reputation: 2875
Maybe the photos are unattractive.
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Old 04-20-2010, 07:06 PM
 
Location: The Greater Houston Metro Area
9,050 posts, read 15,528,070 times
Reputation: 15192
Quote:
Originally Posted by ranger47 View Post
All those houses sold. The one that was listed for 1K higher sold for the asking price but they payed 7K in closing costs.
Which means the bottom line was $6k under what it was listed for - sounds like you may have yours overpriced. Another thing to look at is days on market - that information is also on the sold comps. Although the one house eventually sold for about the same as the other houses - I imagine it took longer because several buyers bypassed it.
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Old 04-21-2010, 07:02 PM
 
6 posts, read 14,263 times
Reputation: 13
Thanks everyone for your responses! We'll see how it turns out.
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