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Old 01-10-2012, 03:30 PM
 
15,629 posts, read 16,687,499 times
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Quote:
Originally Posted by Nocontengencies View Post
What does that mean?
I think it means what this poster is saying.......

Quote:
Originally Posted by middle-aged mom View Post
5 months, few showings and no offers means one thing, it's was not positioned to sell. Your asking price is not taking into consideration some or all of the following; location, condition, competition and the facts of your local market based on recent closed sales of comparable properties.

How much was that reduction, expressed as a percentage, of the original asking price?


Is your current agent local? Does she have first hand knowledge of your competition? Has she explained why some of your competition has sold and closed while you sit amongst the unsellables?
sounds like the agent is doing a great job marketing. I would wonder if the house still isn't priced to high. all sellers want the best price for their home and many price themselves out of selling. in this market I would think your price has to reflect that you are ready to sell. this may mean a price lower then you would like.

you should be priced the same or lower then the comps in your area. your house should be clean, staged and ready for a buyer to walk into and live. or the price should reflect the condition of the home.
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Old 01-10-2012, 03:42 PM
 
11 posts, read 18,173 times
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Quote:
Originally Posted by hothulamaui View Post
I think it means what this poster is saying.......



sounds like the agent is doing a great job marketing. I would wonder if the house still isn't priced to high. all sellers want the best price for their home and many price themselves out of selling. in this market I would think your price has to reflect that you are ready to sell. this may mean a price lower then you would like.

you should be priced the same or lower then the comps in your area. your house should be clean, staged and ready for a buyer to walk into and live. or the price should reflect the condition of the home.
The house is move in ready (only 5 yrs old) and all the feedback we have gotten is positive, like the house shows well and it is well maintained and clean. Our backyard faces a main street so that has been the only negative remark.

I'll talk to our realtor about lowering the price again, the last price drop was mid November. The homes in the neighborhood for sale are all priced around the same from 187k-245k. We are priced at 195k.
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Old 01-10-2012, 03:51 PM
 
Location: Tempe, Arizona
4,511 posts, read 12,804,320 times
Reputation: 2199
Quote:
Originally Posted by SDQEWR View Post
...The homes in the neighborhood for sale are all priced around the same from 187k-245k. We are priced at 195k.
OK, but what are the recent sold price ranges for similar homes?
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Old 01-10-2012, 03:58 PM
 
11 posts, read 18,173 times
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Quote:
Originally Posted by rjrcm View Post
OK, but what are the recent sold price ranges for similar homes?
I do not know. I'll ask my realtor to find out.
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Old 01-10-2012, 04:01 PM
 
Location: Tempe, Arizona
4,511 posts, read 12,804,320 times
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Quote:
Originally Posted by SDQEWR View Post
I do not know. I'll ask my realtor to find out.
Good - that's critical information for you to know for pricing your home well.
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Old 01-10-2012, 04:20 PM
 
4,465 posts, read 5,773,857 times
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Once your contract expires you could list it for what you owe plus 2.5% for a buyers agent and NEVER buy again. Real estate has become a major liability, every post I see revolves around significantly lowering the price and taking it in the shorts. You could rent it out until this absurdity is over. It would be like me going to buy an ATV and telling them to arbitrarily knock 3 grand off the sticker, they would tell me to take a hike lol. If worse came to worse they may sell of their inventory and close there doors so you better enjoy your discount ATV becuase your not getting another one becuase people are not going to produce goods they cant make a healthy profit on, good thing that has not happened with ATV's yet lol.

If no one wants to pay they will stop building new housing and people will stop getting involved with real estate, no one wants to be saddled with a liabilities. This is the slow decline to just above mud huts as soon nothing will have value thus no one will be motivated to maintain or produce things of "value".

If im going to loose money I would rather do it on a sports car, boat, 4 wheeler or my personal favorite an air plane.
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Old 01-10-2012, 05:21 PM
 
Location: El Dorado Hills, CA
3,724 posts, read 9,261,134 times
Reputation: 3896
Quote:
Originally Posted by Nocontengencies View Post
No, I can't think of anything else she could be doing. I think it is time to lower the price again.
I think you knew that all along. If your house is well staged and in good condition, and your agent is doing all that marketing, then it's probably price. And probably at least 5% but more likely 10% too high.
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Old 01-10-2012, 05:40 PM
 
11 posts, read 18,173 times
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I was the one to suggest we lower the price before and she suggested a 5% reduction and I decided to do 10%. Shouldn't she be suggesting a price modification and what price it should be based on her research if the house is priced too high?

Are these things she should be doing with out me prompting her? or do realtors normally wait for the seller to ask for a price reduction?
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Old 01-10-2012, 06:03 PM
 
Location: Salem, OR
14,981 posts, read 36,862,421 times
Reputation: 15496
Quote:
Originally Posted by SDQEWR View Post

or do realtors normally wait for the seller to ask for a price reduction?
No. Should be running sold comps at minimum once a month to make sure you are always competitive.
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Old 01-10-2012, 06:19 PM
 
Location: Lexington, SC
4,281 posts, read 11,782,194 times
Reputation: 3743
Quote:
Originally Posted by SDQEWR View Post
Hi,
We had our house for sale for 5 months and not a single offer and very few showings. We went with the list price recommended by our realtor and have since dropped the price 10%. She says we are priced right, but there is no activity.

Our contract with our realtor is expiring soon, should we go with someone else? Would another realtor really make a difference in selling the house?

Thanks
Years ago I had two lawyers I used. One was a gentleman whom all liked. The other was a more agressive, upset people type. They both had their places/uses and I used them accordingly. You guess how.

Last year when I had a house for sale, I hired a long time, proven record, gentleman real estate agent. Although he made all the right moves, he was not agressive/confrontational enough with me nor with potential buyers. We had showings, open houses, no offers. After 6 months I did not renew with him.

I then hired a more agressive, confrontational, admitted she really needed the sale/money agent. We sold within 3 months.

To many agents will listen, smile, and take the listing rather then sit down and be upfront candid with you. Months later when you ask why no offers, they might (just might) have that sit down, brutal conversation with you they should have had from the get go.

Last edited by accufitgolf; 01-10-2012 at 06:27 PM..
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