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Old 01-11-2012, 03:10 PM
 
Location: south Orange County, CA
76 posts, read 208,984 times
Reputation: 111

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Quote:
Originally Posted by SDQEWR View Post
Our backyard faces a main street so that has been the only negative remark.
Your location can be a contributing factor as well. When you say your backyard faces a main street, does that mean your lot backs to a main street? Is it a heavilly travelled multi-lane 50 mph street with noise you can hear from your backyard and even inside your home? Or is noise not even present? That could have a big impact on your home's marketability.

Also, what's the housing market like in your area? Is the market in balance or is it oversupplied with homes for sale? How many homes are listed and how many homes are selling each month? For example, if there are 100 competing listings in your area and only 10 homes are selling per month, it would take 10 months to sell all the homes if no new listings come on the market.

If you're priced high, it may take quite awhile to sell it, especially if the location is noisy.

Last edited by OChomepro; 01-11-2012 at 04:28 PM..
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Old 01-12-2012, 11:44 AM
 
Location: Albuquerque
5,548 posts, read 15,053,289 times
Reputation: 2738
Quote:
Originally Posted by SDQEWR - in first post View Post
She says we are priced right, ...
We had one of those realtors. -- See how it turned out here.
If in a hurry, I'll say that it didn't turn out well and we got another realtor.
Three months is plenty of time to sell a properly-priced house if you are motivated.
Quote:
Originally Posted by SDQEWR View Post
I have a 4 br 3100 sqft ... we were listed at 205k
$66/sq ft
Quote:
Originally Posted by SDQEWR View Post
Sold in Oct- 4 br less sq ft ... pool ... 215k ___ assumed 2,925 sq ft
$74/sq ft
Quote:
Originally Posted by SDQEWR View Post
Sold in November- 5 br 210k ___ assumed 3,100 sq ft
$68/sq ft
Quote:
Originally Posted by SDQEWR View Post
Sold in November- 4br same sqft ... 185k ___ assumed 3,100 sq ft
$60/sq ft
Quote:
Originally Posted by SDQEWR View Post
Sold in December-3br house 177k ___ assumed 2,750 sq ft
$64/sq ft

All the above assume that 1 br = 175 sq ft.

If you examine the comps in the neaby vicinity - say 2 miles in every direction - you
will find that the smaller the house, the less $$$/sq ft it will sell for on average.

I bet you will find the next house of 3,100 sq ft will sell at about $180k.
I would assume that the carrying costs of this house are in the neighborhood of $900-1,300 per month.
That means that sitting for six months, it costs around $5,500-7,500 just to wait for the "good" offer.

If prices drop another 2.5% then the price you could have gotten goes down by another $5k and six months just cost $10-12k.

Last edited by mortimer; 01-12-2012 at 11:57 AM..
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Old 01-14-2012, 05:07 PM
 
Location: Barrington
60,059 posts, read 41,042,399 times
Reputation: 19383
Quote:
Originally Posted by mortimer View Post


If you examine the comps in the neaby vicinity - say 2 miles in every direction - you will find that the smaller the house, the less $$$/sq ft it will sell for on average.
It's trends the opposite in many areas.

Best value for the square footage buck are Mc Mansions, in my area.
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Old 01-14-2012, 05:14 PM
 
Location: Columbia, SC
10,166 posts, read 19,899,092 times
Reputation: 8855
There are some agents that are quite knowledgeable and have good marketing plans that haven't accepted or learned market conditions. If you like the overall knowledge and marketing you can be the one to push price reductions or if you aren't satisfied you can interview other agents.
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Old 01-17-2012, 11:31 AM
 
11 posts, read 18,151 times
Reputation: 10
Thanks for all the advice. We decided to drop the price 10k. This is the last price drop we can afford. We are listed for 6 k less than what we owe the bank now, so I hope it sells.
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Old 01-17-2012, 11:37 AM
 
Location: Needham, MA
7,461 posts, read 11,638,735 times
Reputation: 6686
Quote:
Originally Posted by middle-aged mom View Post
It's trends the opposite in many areas.

Best value for the square footage buck are Mc Mansions, in my area.
Here in New England, especially the Boston area, the land itself is so valuable that often the larger homes have smaller $$$/SF.
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Old 01-18-2012, 10:06 AM
 
Location: Northwestern VA
982 posts, read 3,298,541 times
Reputation: 568
Not necessarily. What is the typical days on market in your area? Five months may seem like a long time but could actually be within market standards for your city. What type of advertising is your agent doing? What have other homes in the area sold for in the last 3-6 months? Improper pricing is the number one reason that homes don't sell. If you do your homework and find that your house is priced improperly, I'd replace the agent. If it's priced right, I'd stick it out and ask for a new marketing plan. Something to keep in mind is that we (agents) can see how many times you've listed with other agents. Changing up agents too much may result in agents refusing to work with you: if you change agents once, you had a bad agents. Change agents more than that and YOU are the problem.

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
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Old 01-27-2012, 06:10 PM
 
Location: Lexington, SC
4,281 posts, read 11,754,681 times
Reputation: 3742
Quote:
Originally Posted by MikePRU View Post
Here in New England, especially the Boston area, the land itself is so valuable that often the larger homes have smaller $$$/SF.
Once owned a home in Andover, MA where the land value was higher then the actual replacement value of the home itself. People were buying, knocking the houses down, building new houses, and coming out ahead.

While those were heady days, it can apply to this day in some places but it is a rarity. In most parts of SC, the land vaue is less then 20% of the home sale price.
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Old 01-27-2012, 09:00 PM
 
Location: Needham, MA
7,461 posts, read 11,638,735 times
Reputation: 6686
Quote:
Originally Posted by accufitgolf View Post
Once owned a home in Andover, MA where the land value was higher then the actual replacement value of the home itself. People were buying, knocking the houses down, building new houses, and coming out ahead.

While those were heady days, it can apply to this day in some places but it is a rarity. In most parts of SC, the land vaue is less then 20% of the home sale price.
"Underneath all the land" as we say in the real estate biz! I've often heard that here in Needham, MA we are the teardown capitol of the country. In the last 12 months we've had 46 teardown sales and currently there are 51 available for sale and this isn't a very big town. It's really incredible the transformation this town has undergone in the last 15 years or so.
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