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Old 08-07-2019, 04:13 PM
 
Location: Newburyport, MA
3,842 posts, read 1,560,016 times
Reputation: 4778

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Quote:
Originally Posted by maineguy8888 View Post
And I'm afraid that his town might be too close to Springfield, MA.....not a very nice place. (Hartford isn't much better).
Yes, unfortunately, both Hartford and Springfield have some issues, and that won't help the neighboring communities.
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Old 08-07-2019, 06:34 PM
 
Location: Gorham, Maine
1,910 posts, read 4,623,368 times
Reputation: 1370
Quote:
Originally Posted by Cuffler View Post
We've come to the end of our second realtor's contract as or 07/31. We're going to lay low for the month of August while we recoup and also tend to my wife's mother who is failing. In September we'll resume our search for a buyer but are unsure how how or who we will enlist to help us.

What we are perplexed about is the utter lack of any interest of ANY realtor currently showing homes to potential buyers in our area. They can sell someone else's listing as the buyer's agent and will get paid. Why, then, don't they check out some of the more attractively priced homes where you get a bigger bang for your buck? In a full year we've had maybe 6 "lookers". That's it and they were from our listing agent, zero from any other agency. I've spoken to so many people in the area about this issue without much of an answer. I can handle criticism and would gladly address any issue that anyone thought might be an obstruction to a sale. Regarding the shared driveway, in this part of town they are not rare at all. This house and the smaller house next door belonged to the same family and they used a common driveway to get to a two-carriage/two-horse barn further back. Over the years another family now owns the other home (my brother and sister-in-law coincidentally) and it's never been an issue since 1888. There is a codicil in the deed addressing that. The properties here are called "flag properties" which are about 100' wide but 400' deep.

Property taxes.......don't get me started. IT's one of the driving forces to leave Connecticut because we are literally taxed on virtually everything and now they're debating if we need to install 60 gantries across our highways to collect tolls. They are a tax hungry democrat legislature and don't know how to say no to any new taxes. I understand that this may be another detriment to selling but other homes are selling in the area for more money.

I know......a lot of you are saying that there has to be another shoe to drop here. There isn't. This is just an older home but it is turn-key, period. Nothing needs to be done to walk in and thrive here. I believe that this is a case of poor salemanship by the very young realtors who like to pick low-hanging fruit. I've asked them directly why they don't suggest other homes to their potential buyers and the one common answer I got back was "because they will leave me if I show them homes are are not interested in". Wow.

So, we continue. I can't thank you all enough for allowing me to lean on your collective shoulders from time to time. I read each of your thoughtful posts carefully and have gleaned ideas and taken many of your suggestions. I've been told by many that it'll just take that one special family looking for a larger home to raise their family in, just like we did with our 3 kids. That's like saying you find the thing you're looking for in the last place you look! Now it's just a matter of time when that family will come along....hopefully soon!
6 showings in 12 months is unacceptable. The general rule of thumb in a normal market is that if you have lots of showings with an offer or two in the first couple of weeks, you're priced correctly. If you have showings with no offers, your house is priced a bit too high. If you have no showings (6 showings in 12 months), you are way off. Have either of your agents shared absorption rate numbers with you for houses in your market? 6 months of inventory is a balanced market, most towns that I work in have 1-3 months of inventory, multiple offers and closings well above list price. Southern Maine is in a solid sellers market. What's happening in your market?
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Old 08-07-2019, 06:38 PM
 
Location: Gorham, Maine
1,910 posts, read 4,623,368 times
Reputation: 1370
Quote:
Originally Posted by slyfox2 View Post
When we sold our home in PA, I did all the leg work. I made up a brochure for the house, and then I sent it to every realtor in the area, every two weeks. I posted it in every selling place like Craigslist I could find, including places like NYC where boomers might want to retire to rural PA.

I lowered the price to the absolute minimum that we needed to have to make the move to Maine.

All of this didn’t work until I used the Catholic Ritual and burying a statue of St Joseph and the baby Jesus upside down in the front yard, and then I said the intense prayer with heartfelt belief twice a day and before any expected visit. After no visits from early July to September 1, within 24 hours after I started the ritual, I started having visits, and only 2 weeks later I was in contract.

You cannot expect any realtor to sell your house unless you are willing to pay them $1000’s under the table.
Wow, I've seen some crazy posts on City-Data, but this one has to be the wackiest. The price that you need to net for a move is not important to a buyer, who is not willing to pay more than a house is worth in their mind. When a buyer perceives value, they will purchase. It's clear that the buying public is not seeing value and the agent and the seller need to figure out why.
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Old 08-07-2019, 06:43 PM
 
Location: Gorham, Maine
1,910 posts, read 4,623,368 times
Reputation: 1370
Quote:
Originally Posted by sierranevada1 View Post
Are buyers still looking at what realtors try to pick for them? I mean in the internet age...
There's Zillow, redfin and also Realtor dot com for most up-to-date listings, one can do searches for whatever one wants, pick some and then have agent show them, if working with agent. It's really funny if buyer's agent even tries to mention some listings, like being back into 20th century, and they never can be anywhere close to the desired criteria anyway... all the stuff is on zillow with most of the same details that are on MLS. I thought seller's agent was there just to oversee the paperwork, place for sale sign (and look after vacant property) and everything else is done by computer now, one just has to make nice pictures and smart description for the MLS (something I wouldn't let a realtor do for me).

How can a listing agent "sell" a house? If a house isn't priced to market it won't be looked at or sold. Nice pictures, nice description on MLS and market price. Not sure what a listing agent can do to force sale. If they're using their local connections to push the listing on buyers via buyer's agents....normal buyer runs like hell from this, this smells of crookery.
Buyers are more savvy and have access to more information than they ever have. The role of the agent has shifted from identifying the home to managing the extremely complicated transaction with inspections, appraisals, contractor quotes and performance, obtaining after the fact building permits, working with lenders and title companies, etc. On the listing side, my job is to expose the house to as many ready, willing and able buyers as possible. The house will sell itself if I've done what I need to do to put it in front of as many eyeballs as possible.
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Old 08-07-2019, 06:46 PM
 
Location: Gorham, Maine
1,910 posts, read 4,623,368 times
Reputation: 1370
Quote:
Originally Posted by slyfox2 View Post
Yes... Your house also has to have everything thAT ALL THE OTHERS HAVE. This means if everyone else your price range has central you need to have central air, or take 25K off the price, even though it make only cost 10K to put in central air. If everyone has an asphalt driveway, you have to too.

And then you either need something that nobody else has, or you have to lower the price below everyone else.

Don’t expect the listing agent to help you. All they do is post a sign and take the 6% they didn’t earn.

But everyone wants your price to be lower than everyone else, and be turnkey with ll the updates. Pay the $2000 for a home warranty. We did so we could compete with the new houses. And in our case, everything in the house was updated, from the roof, to the well pump. New carpets, new rooms new toilet new shower---literally everything.

Consider paying for a house checker to go over your house, but don’t tell the realtor or they will have to disclose it. And then do everything the house checker says is wrong with the house. After all, they will have their own house checker. If you have septic, then get it checked ahead of time, so you have no surprises when their septic checker comes, and so you have ammunition if their guy says there is something wrong with it.

But the bottom line: PRICE PRICE PRICE.
So after accusing the entire real estate industry of being crooked in this thread, you are advocating that a seller fail disclose a material defect that they are aware of? That's fraud and a great way to get sued after the closing.
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Old 08-07-2019, 06:48 PM
 
Location: Bath, ME
550 posts, read 590,443 times
Reputation: 484
Quote:
Originally Posted by WhoFanMe View Post
Buyers are more savvy and have access to more information than they ever have. The role of the agent has shifted from identifying the home to managing the extremely complicated transaction with inspections, appraisals, contractor quotes and performance, obtaining after the fact building permits, working with lenders and title companies, etc. On the listing side, my job is to expose the house to as many ready, willing and able buyers as possible. The house will sell itself if I've done what I need to do to put it in front of as many eyeballs as possible.
That 100% describes our relationship with our buyer's agent. I found houses we wanted to look at; he's be so helpful in helping schedule and providing feedback on all the closing things that need to happen.
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Old 08-07-2019, 07:45 PM
 
Location: Gorham, Maine
1,910 posts, read 4,623,368 times
Reputation: 1370
Quote:
Originally Posted by yaeger07 View Post
That 100% describes our relationship with our buyer's agent. I found houses we wanted to look at; he's be so helpful in helping schedule and providing feedback on all the closing things that need to happen.
Glad you're having a good experience!
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Old 08-07-2019, 09:49 PM
 
3,926 posts, read 3,211,557 times
Reputation: 4964
Quote:
Originally Posted by WhoFanMe View Post
The price that you need to net for a move is not important to a buyer, who is not willing to pay more than a house is worth in their mind. When a buyer perceives value, they will purchase. It's clear that the buying public is not seeing value and the agent and the seller need to figure out why.
Your response is pretty whacky too. I never said that the buyer gives a crap about my net needs only that I did have them and that I had to lower the price to the lowest price I could afford to move. If I hadn’t gotten that price then I couldn’t move. I had expenses on arrival, and the costs of the moving van, etc, since I was moving 600 miles away, and I’m old and have a lot of stuff. I only suggested that the seller needs to know what that number is.

I also suggested that the value of the house needed to match the values in the area, and I said how.

I suggested that the seller make sure that s/he had no surprises coming, like a septic system that was in dire need of replacement. I suggested that an independent house inspector would tell the seller what needed to be done, but technically this is supposed to be disclosed, so having it done a good bit before you put the house on the market is worthwhile. if you do everything on the inspector’s list, then allowing it into the records will not be a problem.

Value in an area where taxes are completely out of control is different than value where taxes are the lowest in the county---where I came from. And of course I sold my house in the bottom of the last recession, and the other property also at the almost bottom.

And I have dealt with multiple real estate agents as selling agent. None of them did any work for me. In both of the properties I sold in PA, I was the one who found the buyer not the agent. Since FanMe is an agent perhaps he took offense, and perhaps I didn’t and might have enjoyed having the pleasure of hiring him. I had great experience in Maine with the buyer’s agent I had and he is still a friend.
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Old 08-07-2019, 09:55 PM
 
3,926 posts, read 3,211,557 times
Reputation: 4964
Quote:
Originally Posted by WhoFanMe View Post
.... most towns that I work in have 1-3 months of inventory, multiple offers and closings well above list price. Southern Maine is in a solid sellers market. What's happening in your market?
Lucky you. In Pennsylvania, at the bottom of the recession, none of that was true. I needed to do all the leg work. My buyer’s agent had many many many unsold houses in the inventory. There had to be a way to get mine put front and center. Taxes were cheap; schools were top notch(national blue ribbon elementary schools), property was immaculate.

But you can’t leave it up to a busy seller’s agent. You have to help. I even had a video playing on the large screen TV explaining the virtues of the house when visitors came in.
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Old 08-08-2019, 09:36 AM
 
Location: New Britain, CT
890 posts, read 398,169 times
Reputation: 1418
Quote:
Originally Posted by sierranevada1 View Post
Average time on the market is 90 days in Hartford....I wouldn't say the market "dead".
What is noticeable however that listing prices are way higher than Zillow value estimates....may be it's the problem, sellers asking for more money than the stuff is worth. I'd never agree to pay more than z-estimate unless it's some kind of non-standard property that they can't property appraise.

OP only had 6 looks in 12 months.... I feel bad for the guy. On top of that if his wife's mother goes to a nursing home, he has TWO houses to sell.
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