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We are selling our home on Long Island and were wondering how other's are doing in the real estate market here? Pro's and con's of realtors? What has worked as far as marketing to get buyer's in for showings? Negotiating? Incentives? We have only had our home on the market for a month and intially were very busy with showings, and now it is slowing down. Our realtor doesn't offer an explanation...house is updated, priced right, great neighborhood, schools, etc.
Where on Long Island are you from? We sold our house in Deer Park in March. It was on the market for 3 months. The house really has to be priced right to the competition. We got a really good price for our house because it was turn key, completely rennovated with nothing to do inside or out. There are 200 houses for sale in my town and NOTHING is selling. One house on my block already lowered there price twice in one month because they had no showings, and he is the real estate agent. It is a tough time, try to re-evaluate your pricing if you can. Good Luck to you.
Supply & Demand. Long Island is currently flooded with real estae for sale. We have over a 1 year inventory on the Island right now. I suggest you drop the price as low as you possibly can and get out while you can. The L.I. market is not going to improve any time soon and unfortunately the N.C market prices are rising. Due to Global Warming there are many people hesitant about buying homes so close to the shore. Good Luck
Pricing needs to be right for a fast sell. If you are looking for top dollar your house must be in top shape and be prepared to sit on it for a few months.
Supply & Demand. Long Island is currently flooded with real estae for sale. We have over a 1 year inventory on the Island right now. I suggest you drop the price as low as you possibly can and get out while you can. The L.I. market is not going to improve any time soon and unfortunately the N.C market prices are rising. Due to Global Warming there are many people hesitant about buying homes so close to the shore. Good Luck
Mudpaws knows what he's talking about but I'm sure that you all don't want to hear it.
we are in the __50,000 mark and just lowered to ___49,990. I am ready to lower, but my husband isn't. I'm thinking about _29,990, which is a big jump considering it hasn't been on the market long and (4) realtor's said it was priced to sell. The only thing I can think of is the internet pictures are pretty bland since we just painted and carpeted throughout and some of the angles were poorly taken. I am trying to add little touches of home and warm things up without cluttering it up.
we are in the __50,000 mark and just lowered to ___49,990. I am ready to lower, but my husband isn't. I'm thinking about _29,990, which is a big jump considering it hasn't been on the market long and (4) realtor's said it was priced to sell. The only thing I can think of is the internet pictures are pretty bland since we just painted and carpeted throughout and some of the angles were poorly taken. I am trying to add little touches of home and warm things up without cluttering it up.
I'm going to guess it's not even about price at this point. I just spoke with my Realtor and she was pricing out a home in Smithtown for a new client. She said that there are currently 196 homes on the market and only 9 houses have gone to contract since February; staggering numbers for sure.
Long Island has become a tough sell due to high (and ever rising) property taxes and the recent negative press brought on by insurance companies pulling out in anticipation of "the Big One" type of storm.
Assuming all else is in good shape with your house I would suggest that beyond having it priced as low as possible your Realtor should also be working the networks constantly. I'm convinced it was our Realtors aggressiveness that brought the first wave of buyers to our house and created the mini buying frenzy that got it sold.
I sold my house on the Island a little over a year ago and we were soooo lucky to get a really good price - but as people have been posting it has gotten really tough up there as inventories are up and taxes keep rising. We lived in Sea Cliff and were able to leverage the great schools and train line into Manhattan as selling points - but otherwise, like someone else mentioned, you really will have to think about lowering your price as much as you can b/c it's not going to get any better as interest rates are rising too. Tell your husband that you gotta get out now! It was the best move we ever could have made and our kids love it so much more than LI. Good luck!!
What do you specifically mean by the networks? I don't really think much is being networked...
The day after we signed the contract with our Realtor she called and said there were two brokers (from other firms) who had buyers interested in our area. Of the first six potential buyers to see our house five of them were the direct result of her contacting Realtors to give them a "head's up". Ironically our buyer was not one of her referrals but because she had created a mini-frenzy we had a second offer which helped nudge the first offer high enough so I could feel good about the sale.
She knew how to get the word out, which Realtors were likely to have interested clients and wasted very little time. Her working the phone lines generated plenty of important feedback and we had a very good sense of market conditions as related to my house within the first few days. She didn't simply plant a sign in the front yard and wait for the world to beat a path to our door.
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Not for the feint of heart.
