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it isnt over priced, I don't qualify for a short sale and I don't care anymore if I rent or not. I am really over this
Then why isn't it selling? As I realtor, I find the letter insulting to my profession. As a buyer, I would also be insulted. So you've collectively insulted with one letter the 2 most important to you-the potential buyer and their Realtor. Probably not a good way to go. If I really need to get specific I will.
Last edited by Brandon Hoffman; 12-01-2010 at 07:57 PM..
Read the original post, all I am saying is that sellers want the same thing buyers do. Since we are all in the same boat, refrain from calling us unreasonable, or stupid or delusional. Real Estate agents do have the power to steer and persuade buyers - that is part of the reason they are seen as "professionals" in the eyes of the buyer. All I am wanting to accomplish here is for people to stop slinging the remarks, stop being so short sighted, and for heaven's sakes, quit dissing people on this board who are simply trying to get honest advice.
I for one am really disappointed in some of the responses by the agents. Instead of professional advice, they (for the most part) have not even read my posts completely but have commented on them missing the point completely.
Read the post in it's entirety and refrain from making comments if you can't be encouraging or productive. When you make a comment like, "Your house is ------- (insert negative comment here)" tell me why, tell me how you would fix, tell me what you think "as a professional" would make a difference to a buyer.
Angel
First of all you're coming to a public message board and asking for help from people who have never seen your home. When they offer up information, which they are doing for free on their own time, you shouldn't complain even if it's not something you want to hear or that you don't deem helpful. People are offering you advice on what you can improve so of course the comments will be negative.
Secondly, I think it is you missing the point. If you aren't getting offers you either need to fix the condition or the price, bottom line.
Thirdly, why are you looking for input from people who've never seen your home when you have an agent? Perhaps when it expires without selling you should hire someone based on knowledge rather than price. You get what you pay for most of the time. That seems to be the case here based on what you've said.
I feel for the OP because someone who bought a house just 7 years ago hasn't made a dent in the principle and may well take money to the closing . If s/he made improvements, they're in even deeper. I think buyers feel frustrated because most are not going to break even, let alone make a profit anymore. And there is that expectation in the marketplace. People still view their houses as a money machine.
I have a car I paid 25000 for. When I sell it I will probably get about 12000 for it. That's fair market value. I will not say, overtly or indirectly, to my car buyer, "wait, I paid 25000 for my car, that's what you have to pay me or I will have lost money/won't have enough for a nicer car, etc.!"
To the OP, I know you're likely hurting. Having to sell a house I'd owned for 7 years would really hurt me too. I'm a nester and love my interiors, however it might just be a blessing in disguise. Go to the New York Times rent v. buy calculator and crunch some numbers.
If they don't convince you that renting can be a great move financially, take it from me, a homeower who has been renting lately and *loves* the freedom, not just from maintenance, but from the trapped feeling I'd have if I were a homeowner now.
Best wishes.
Last edited by scrabblesavant; 12-01-2010 at 08:48 PM..
I feel for the OP because I have been in a similar situation with job loss, and it's no fun.
Unfortunately, you bought in the middle of the bubble (7 yrs ago is 2003-2004 time frame), so odds are you overpaid for the house to begin with. Now, your house isn't selling at the current price which you feel is "fair" but the market feels is still overpriced.
Either spend some $$ and upgrade the home and sell it for the current price, or discount it further. Or hold on and sell it for less 6 months from now. If you can't afford the payment, seriously consider renting it out. A lot of folks want to rent right now, and rates are going up due to the demand. Even at a loss, it should still be better than pouring more money into a depreciating asset.
I know you want a good deal when buying a home. I know that you want all the upgrades in a great neighborhood and all the amenities for not much money. In reading comments on this forum I have seen Sellers called, "stupid, greedy and unreasonable as well as delusional and selfish". Please remember, as sellers we are not trying to take your life's savings, gouge you or make you pay for sentimental value as much as you think we are. We, like you, are hoping to be buyers at some point after the sale of our house. We, like you are in a financial crunch with banks that don't want to lend money. We, like you are trying to find something nice that our family can live in without being on top of each other while getting the amenities needed to sustain our family. We work hard for our money too, we love our kids and want the best for them and we live in this economy just like you do.
I write this to you, not to admonish you, but to evoke some sense of reason and perhaps a little bit of mercy when you are looking at house prices. Buy a house because it is the right neighborhood, not because of status. Buy a house because it fits you and your family, not because of the upscale shops around the corner. Buy a house because of the good schools now and in the future so that your kids get the benefits life may not have given you with education. Buy a house because when you walk in the door it says, "I am your home", not because your realtor steered you there. Live in the neighborhood that has block parties, where kids are safe playing in the street and the neighbors walk their dogs together. Trust me, your money will run out and you won't be able to shop in the upscale shops and you will be coming to my side of town where everything is reasonably priced without all the cheap discount stores going in. You will wish that you knew your neighbors in time and that someone would come over for a good old fashioned cup of coffee just to chat on a Saturday afternoon. Or that when you walk your dog your companion is a live person instead of the same songs on an IPod.
Remember that we as future buyers want to have these things too when we go to buy our house, so when we price our house, we are thinking about all this, not how much money we can steal out of your pocket.
By the way, we just lowered the price of our house to the point where, we will not be able to buy a new one after the sale. We did it so you will come see it, and love it, and move in and have everything that we will no longer have. Please enjoy your new home.
Signed,
A future Renter.
First, I am sorry you have to sell and hope you get a buyer soon. However, not all people want the same things you do. Just because it's your ideal neighborhood doesn't mean it's everyone's ideal neighborhood.
Personally, I think streets are for cars and I like to see kids playing in their driveways, their yards, or cul-de-sacs instead of possibly running in front of my car. But again, good luck with your sale.
PS I also think there's some merit to renting your house out if you can. Many years ago we sold a house I wish we'd rented out. If you'll live long enough the market and you and your house might meet again on good terms. That said, I also totally understand the "I'm so over that" conclusion! Best, best wishes.
Yes, your situation is not hopeless. Price your house to sell. Get out in front of similar houses in your market. If prices are still dropping you'll have to drop your price agressively to move your house. That is what I did a few years ago when I relocated. I made some money after commisions, etc but not anywhere near what I had put into the property. Oh well, move on.....
Renting since then and I have to admit I have come to prefer renting. I have a great landlord, a great house, in a great neighborhood with really great neighbors. Would I buy this house if my landlord wanted to sell? Probably not. I'd most likely look for a similar house to rent nearby. There are many available to choose from.....
As an agent in the same market as the OP, I want to comment on the "steering" we do. In the Greater Houston Metro Area, we have almost 34,000 single family homes (doesn't count condo/townhomes) for sale. This number isn't unusual here - pretty normal - it's a big area. All of those sellers want to sell their houses.
When we meet with a buyer, to determine priorities in a home search, we talk about a lot of things - commute, size, price, schools, etc. etc., etc. It's all about the buyer, not which sellers deserve to sell their home the fastest. If your home doesn't fit what they are looking for, I am not going to drag them to your house. That would be stupid. Yes, I will often suggest areas they may not have thought about that would fit them, but again, they get to pick. The realtors aren't out to get you - we don't know you.
Your subdivision actually sells fairly quickly. I would experiment with the pictures more - they are not so terrific.
To others, here in this area it is cheaper to buy than rent, as long as it is apples to apples.
Also, our prices have stagnated in some areas, but we never had the bubble.
Thank you Chery. You are actually one of the realtors I do respect in Katy and on this board. I know that compared to the rest of our area our subdivision does sell ok, just that even with the price drops we have no bites, could be the season, could be the pictures. I have Open Houses and invite realtors, but they don't come. I am going to take your advice and try to make pictures more appealing...not sure how yet but I will try that. BTW having another open house this Sunday - just signage though, not on the board.
Again, thanks.
Angel
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