Pricing a home with short sale/foreclosure comps in the area.

[NOLA2SGF]

Wow, I am so happy for you! Like you, after painting, recarpeting, fixing everything, and staging, I listed my house last Tuesday. The MLS went live Tuesday night and it specifies "excellent condition". A couple of realtors from the RE office came through on Wednesday and a buyer and realtor were supposed to come on Thursday (but the buyer didn't show up so my realtor and theirs just waited).

So far not one buyer has set foot in my home. And this was at what my (very good, experienced, active) realtor considers to be a low price after reviewing the comps and more. He assures me that my house will be relatively easy to sell compared with most, because it is in a desirable location and will show well. He is arranging to put it on the local "Real Estate Hour" Sunday morning TV show, and he is arranging an open house. So I think he is working at this pretty hard.

I think this is going to be a very long haul in my local real estate market. Oh well. At least I can enjoy the new paint and new carpet while I wait. LOL

Sorry for the off-topic post but I thought it was just amazing that we listed at almost the same moment and yours already has a full price offer.

[JustMike77]

Originally Posted by firepilot

Hey everyone thanks again for all the advice. So we listed the house Tuesday afternoon for $315,000. The MLS went live Tuesday evening after all the photos ect were done. I spent 35-40 hours detailing the house, followed the advice the provided staging consultant gave. We had the RE office walk through on Wed morning. Had 2 showings this morning (Thursday) and a full price offer by noon.

Sometimes things just fall into place I suppose! Papers are all signed and next is the inspection. The RE we hired ran comparable solds just out, and getting it appraised should work out fine.

We have to rent a place for 6 months before the big move however in this day and age we accept it as a high quality problem.

Phil

Congratulations and Thank You SO MUCH for not complaining that your house sold so quickly that your agent obviously cheated you. LOL. I just hate that. You did everything right and got a good result. Good for you!

Mike

[firepilot]

Thanks Mike,

Realtor gave me directions and I followed them. Now we are in contact more than when the house was on the market. Home inspections, appraisals, title company ect. Yesterday I had a call from a agent who happens to be selling a short sale next door. The agent called me direct to "preview" the house. I forwarded the voice mail to my agent and she screened it out. He wanted to see the competition, and he cancelled when he found out it was pending.

I believe everything is meant to be. We found our "golden BB" as it were. The buyers looked at a house down the street this summer. It was a short sale and took so long they walked. It is nice to see it all work out. We get to go, and a nice family will be in out house.

Phil