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There are only 3 reasons a house doesn't sell; marketing, condition and price. If you are getting showings (marketing) but no offers you should look at the feedback your agent is getting from the other agents (she is doing this, right?). If there is consistent feedback identifying things wrong with the house (condition) that can be repaired inexpensively, then do so. If the house still doesn't sell, it's price.
There are only 3 reasons a house doesn't sell; marketing, condition and price. If you are getting showings (marketing) but no offers you should look at the feedback your agent is getting from the other agents (she is doing this, right?). If there is consistent feedback identifying things wrong with the house (condition) that can be repaired inexpensively, then do so. If the house still doesn't sell, it's price.
I will agree on those points however the market is in a correction and many have not sold since the inventory is high. People are not pulling the plugs yet they seem to be waiting. Many like this person has not been able to sell her place so the other home is well not sold. Snowball effect. The people in the northeast who want to move down here if they don't sell up their they sure ain't buyin here right now. Oh a real good southern builder and developer has stated this just last night.
Things are getting worse even here in wake.
Price many are still sitting on prices that are too high but who is really gonna tell them that the price say 400K is almost 80K TOO HIGH?? When their neighbor last year sold the same type home at that 400K price??
Someone will start the lowballing and boom bigtime correction, which maybe needed. Who knows. Like I said good luck.
I know what it feels like to lose money on a home got nailed back in 96 when I sold my home at a loss over an 8 year period. Bought at 148K in 1988 sold 122k in 1996. Not fun to bring a check to the closing of a house you are SELLING!!!! OUCH!
There are only 3 reasons a house doesn't sell; marketing, condition and price. If you are getting showings (marketing) but no offers you should look at the feedback your agent is getting from the other agents (she is doing this, right?). If there is consistent feedback identifying things wrong with the house (condition) that can be repaired inexpensively, then do so. If the house still doesn't sell, it's price.
Well said! Also, as Mike said - you own the comps. Before listing your house, you and your realtor should have sat down and reviewed those comps very carefully in order to derive an appropriate asking price.
You should contact your agent to get feedback from any showings, and to review the comps so that you can make an informed decision about where the price should be, and whether or not there is anything you need to do to make the house more attractive to potential buyers.
Selling is a nervewracking experience! Good luck with it!
This happened to us in AZ, where the market started correcting last year. Yes, it's price. We chased a downward market and finally took a BIG hunk off asking and got it sold. Neighbors sold a smaller home with no view (ours had gorgeous mountain views from every room) for almost $100K more than ours ended up selling for.
But here's the thing: the longer you wait, the worse it gets in a correction. Had we priced what we considered low for the market when our house first went on the market, we would have come in about $10-15K below our neighbors. But we held on thinking we'd sell. Then we lowered the price. And again. But we were chasing the market down. the longer it was on the market, the less it was worth in a way b/c inventory was getting bigger and people were lowering prices as they got desperate to sell. Get it priced right (low enough to sell) before the market "corrects" any more!
when we listed our house in March, one realtor suggested a high price (which made me feel good) and another realtor suggested a way low price (which made me feel bad). We settled with a price in the middle and it sold almost immediately. I always will wonder if we could have gotten that price if we had listed it higher and waited in out a few weeks, but that is water under the bridge now. I think we made the right choice by going LOW (luckily we had great equity so it didnt hurt that much). I would say price is what is stopping you from selling right now (and possibly other, aesthetic stuff?). Can you do anything on the inside to make it more appealing? Then drop the price like 5K and see what happens.
I hate to say this, but I think I remember telling you that I felt your house was priced at least 6% too high when you first put it on the market. I see that you've dropped the price twice, and now it is more in line with what I would expect, but maybe the damage has been done. You've even relisted it once to change the MLS number, but the pictures remained the same, so it was easy to see the attempted "slight of hand".
I agree but as a seller and not the "professional", we put our faith in our Realtor. Mike, what would you do differently at this point to get it sold if it were your listing?
Quote:
Originally Posted by MikeJaquish
"...You've even relisted it once to change the MLS number..."
YIKES! Have I been close to breaking the rules? If so, it was not intentional. Just a desperate home owner trying to sell
Quote:
Originally Posted by NewUser
I should add that you've done an admirable "stealth" marketing job on this forum while staying under the radar of the moderators
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