Anybody else having trouble selling your house? (Charlotte, Raleigh: cul-de-sac, real estate market)
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We just sold our home in Stafford, VA in less than six weeks, however we ended up coming down on our initial asking price about $60k. Our desire to move and get started in South Carolina was stronger than "holding out" for a higher price.
A couple of things we had to realize. First, our home is 20 yrs old. Although we completely redid the bathrooms (beautiful tile work), all new carpet, new appliances, all new windows, etc., we were competing with literally 600+ homes in our area many of those being newer ones. My sister, who is also my agent, had this mantra that drove me crazy.... "The market will set the price." We couldn't get showings at the first level of pricing we had, because it was just priced too high. Once we lowered the price we started to get showings, but then other issues came up for buyers, i.e., we don't have a basement. Also, we never held an open house.
I wouldn't give too much credit to this competition. My property also was competing with other newer built homes so I was prepared to have visitors bringing up "there's no this there's no that". One of them scheduled a private showing and then after the showing she said "I don't wan't it because it doesn't have feature X". It was clear in the listings that we didn't have feature X. Hello?!?! Waste of time here? Anyway, a buyer came a long who didn't care less about the feature X and bought the place. But I guess it depends on the area. Here in North Carolina there are SO MANY new developments that I'd assume it will be tough to sell properties that are less than 2 years old.
I wouldn't give too much credit to this competition. My property also was competing with other newer built homes so I was prepared to have visitors bringing up "there's no this there's no that". One of them scheduled a private showing and then after the showing she said "I don't wan't it because it doesn't have feature X". It was clear in the listings that we didn't have feature X. Hello?!?! Waste of time here? Anyway, a buyer came a long who didn't care less about the feature X and bought the place. But I guess it depends on the area. Here in North Carolina there are SO MANY new developments that I'd assume it will be tough to sell properties that are less than 2 years old.
You are right. Easier to sell new properties than it is to sell older ones!
FYI...the seller pays 6% to list the house. 3% goes to the listing agent and 3% goes to the selling agent. If the listing agent does both parts of the transaction...I always lower my fee but I give the discount to my seller! Even thought I'm working as a "dual agent", the seller is my first loyality.
I also think, in certain markets, you can FSBO. But if your market isn't hot...you are going to run into trouble, unless you have the patience of JOB and the time to do it right. Stats prove that an agent can have the house sold in l/2 the time. And the reason you get so many calls from agents is that this is where the new agents get their listings. Again...stats prove that most FSBOs list after 30 days. They say its "too much work". Now could that be WHY we get paid? Hey...I'm not going to paint my house...I want a professional to do it!
Vicki
FYI, I know that the seller pays to list the house, however that is not what happened when my dad told the agent that he is not paying the $120 that the woman was asking and that he was only paying $99 because that is what they could afford. He TOLD the agent that if she wanted to sell the house, she was going to have to cut 3% of her commission in order to get the buyer the price she needed and the price my dad needed. After a lot of moaning, the realtor agreed. So, I'm sorry if you misunderstood what I was saying. What I meant was that the agent took less $ and both my dad and the seller got what they wanted. It had nothing to do with loyalty. My dad is smart when it comes to real estate, however most people don't know as much. That is why I'm most certainly going to have a buyers agent representing me.
The Market is terrible. Have you tried burying the statue of ST. Joseph? It should be blessed and buried upside down in your front yard facing the street.I know people who swear by this. I used it also and it worked. Good Luck
You are such a hoot! I remember your posts on another message board....I think you said "I bid you all ADO!"
Everyone is giving sound advice. Gosh! it can be such a stressful time selling a home.
Sometimes it helps to take the house off the market for a while then putting it back on, that way the length of time it is on the market changes. I know, I know, time is of the essence and you seem to have little time.
Most people are sometimes "leery" of FSBO. Some people don't often understand the real estate system and trust their Agent to guide them.
They think the homeowner who is selling on his/her own (FSBO) is out to "get them." They just don't understand it all.
Are you doing "By appointment only" OR have you had an OPEN HOUSE.
Are you following all the little advices. .....
Scented candles, cookies baking in the oven, having a nice entry way, updates, flowers, nice lawn etc etc.
If you move out some of your furniture and ONLY have the essentials, that helps as well.
Everyone is giving sound advice. Gosh! it can be such a stressful time selling a home.
Sometimes it helps to take the house off the market for a while then putting it back on, that way the length of time it is on the market changes. I know, I know, time is of the essence and you seem to have little time.
Most people are sometimes "leery" of FSBO. Some people don't often understand the real estate system and trust their Agent to guide them.
They think the homeowner who is selling on his/her own (FSBO) is out to "get them." They just don't understand it all.
Are you doing "By appointment only" OR have you had an OPEN HOUSE.
Are you following all the little advices. .....
Scented candles, cookies baking in the oven, having a nice entry way, updates, flowers, nice lawn etc etc.
If you move out some of your furniture and ONLY have the essentials, that helps as well.
I just went through this myself. Had private showings as well as open houses every other weekend, while making sure that the house did not look like there was too much clutter. My girlfriend suggested to bake an apple pie, but I also heard scented candles, remove most of the stuff on the front of the fridge (pics, papers, etc.), well-maintained lawn, etc. I don't think the furniture would be a problem, but definitely having less clutter would make it more attractive. I've been to open houses myself and I personally did not like seeing things 'stacked up' in a corner. It can be very stressful but you'll get thru it. Good Luck!
Ha! I had to laugh at stuff stacked up in a corner. Of course one wouldn't want that. I watch that show "Sell this house" on A&E all of the time (and Flip this house too!). Anyway, the guy comes in and changes everything to get the house to sell, and what he does usually works. Makes things just a little more streamlined I guess. Maybe you could look for a book at your local library on something of this nature. Or maybe that guy has a website with tips or something (Sorry at work can't look it up for you). I have always found humor in the fact that people can't seem to "get" the fact that when you buy the house you aren't buying the stuff in it (usually). People always make comments about what the furniture looks like, or the color of the walls, etc. Try renting, where you can't paint the walls and you are stuck with flat white forever! And I mean duh the people are taking their belongings. But I guess it is all in what you see sometimes. We have gone on a few open houses, and I always try to picture the place empty. I can't wait until I get a house and I can do whatever I want with it. Good luck!
Oh and taking it off the market and putting it back on might help, but our agent up here puts "back on market" up there next to these, and to me that means that it didn't sell the first time because they were probably asking too much, so we have a better chance of talking them down. So that might not work for you. It all depends. In our area, there are many many houses here that simply won't sell, now they have to come down on price. Too bad for them.
Ha! I had to laugh at stuff stacked up in a corner. Of course one wouldn't want that. I watch that show "Sell this house" on A&E all of the time (and Flip this house too!). Anyway, the guy comes in and changes everything to get the house to sell, and what he does usually works. Makes things just a little more streamlined I guess. Maybe you could look for a book at your local library on something of this nature. Or maybe that guy has a website with tips or something (Sorry at work can't look it up for you). I have always found humor in the fact that people can't seem to "get" the fact that when you buy the house you aren't buying the stuff in it (usually). People always make comments about what the furniture looks like, or the color of the walls, etc. Try renting, where you can't paint the walls and you are stuck with flat white forever! And I mean duh the people are taking their belongings. But I guess it is all in what you see sometimes. We have gone on a few open houses, and I always try to picture the place empty. I can't wait until I get a house and I can do whatever I want with it. Good luck!
Oh and taking it off the market and putting it back on might help, but our agent up here puts "back on market" up there next to these, and to me that means that it didn't sell the first time because they were probably asking too much, so we have a better chance of talking them down. So that might not work for you. It all depends. In our area, there are many many houses here that simply won't sell, now they have to come down on price. Too bad for them.
the site is aetv.com; then click on 'shows', then click on the show you are interested in. There are links that may give you pointers. I was amazed at the ideas that they come up with to redecorate. One that I still thought was great was transitioning a vase to a lamp. It's amazing the ideas they come up. hgtv.com is another good site for decorating at a low cost.
looking online at all the houses also gives great ideas...
as for selling house, one priced right will always sell-you have to look at see what similar homes in the area sold - this is how realtors basically get an idea...then look at what you may have or not over these existing homes and location must also be taken into consideration. The same house with all the same features will have a price differnece is one is on a main rd and the other residential.
buyers are looking for deals now which I think is making it harder (especially here on LI) - they still have it in their heads, prices are too high) I think the market is areas that were so inflated will adjust down a little in the fall and balanceout by the spring market, which typically here is the busiest.
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Anyway, a buyer came a long who didn't care less about the feature X and bought the place. But I guess it depends on the area. Here in North Carolina there are SO MANY new developments that I'd assume it will be tough to sell properties that are less than 2 years old.
Trouble selling
