U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 06-20-2012, 07:14 AM
 
80 posts, read 164,929 times
Reputation: 69

Advertisements

bbronston & woodrough - thank you for clarifications.
Rate this post positively Reply With Quote Quick reply to this message

 
Old 06-20-2012, 08:56 AM
 
7,118 posts, read 8,358,367 times
Reputation: 19134
MPSTAT.....just chill out a little bit. Your pricing is roughly correct. It sounds like the home is in an okay neighborhood. You are getting showings. Your agent seems to be doing their job. Anything you do at this point is 'fine tuning; and not likely to move anyone off the spot.

Your ONLY problem is that you are facing a very difficult market. There are a ton of older folks trying to downsize from the 'family' home. There are very few young families trying to get into a bigger house, and those that are have been falling for the gimmicks which spec/tract builders use to sell houses to the uninformed. You can't compete against a mentality which you can't understand.

So, unless you MUST sell (in which case you are going to have to 'give it away'), then just sit back. Give it a year or so and see if a buyer comes along. There are a few out there, but they are very nervous, and even though we are closer to the bottom than the top, they don't want to make a mistake. We have a presidential election coming up--that might motivate Washington to move on jobs and real estate. Gas prices are down quite a bit....that helps family budgets. Nothing huge, but a little here and a little there, and bingo, you suddenly have a buyer for reasons which you will never put your finger on.

I just sold a house...one year on market...nice place, good neighborrhood, etc. . I had two buyers who couldn't close (one a couple weeks in, one six moinths in) , and the third could finally get it done. It was all about financicng availability in my case. Just be calm...you are just starting the process.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 06-20-2012, 01:58 PM
 
47 posts, read 112,107 times
Reputation: 30
Ted Bear, your post is music to my ears. I have never felt so anxious in my life! I thought selling was going to be fun---I just knew people would be beating down my door to buy my house, lol. I don't want to give my house away, so I am going to be patient. I think I might need to up my marketing a bit since my house is over 2600sq.ft., but it is turn-key, so maintenance for an older couple would simply entail keeping up with the inside of the house. Thanks again for sharing your experience!
Rate this post positively Reply With Quote Quick reply to this message
 
Old 06-20-2012, 02:07 PM
 
Location: State of Transition
91,055 posts, read 87,757,854 times
Reputation: 98351
Quote:
Originally Posted by mpstat View Post
My questions are:

· My concern that if we do not get an offer by end of July our sale chances greatly diminish. Is this concern warranted? Is there a sale season for suburbs?
· Should I keep reducing the price every 2-3 weeks? How much?
· Should I remove it from the market say in the end of July or August? When & for how long? When should I put it back on the market (February-March)?
· Is it advisable in general removing house from the market? Or should I keep it there no matter what no matter for how long
It actually sounds like a good listing; parks/ tennis nearby, huge yard that you improved for added privacy/noise reduction, full daylight basement, wow! The one drawback seems to be the unusually small size of the neighborhood, like it's in a very small development. Still, there's a park, a good amenity.

I just sold my house. I was shocked at some of the low-ball offers. In my area (NM) the market is starting to rebound now, though. After 3 months, you do need to lower the price to stay in the game, and the game is worth staying in through the summer. Spring/summer is usually the big selling season, though that can differ depending on region, consult with your agent. I'd say cut it another $15,000 if you can handle that, have the agent state "motivated seller!" in the ad, be SURE to list the full daylight basement. Does the basement have its own bathroom? If so, you could market the house as having a potential basement rental unit. That REALLY draws buyers! That alone can make a night-and-day difference as to the level of serious interest and quantity of potential buyers it draws. Don't throw in the towel right in the middle of peak selling season. Work with it.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 06-21-2012, 07:15 AM
 
80 posts, read 164,929 times
Reputation: 69
Ted Bear & Ruth4Truth - your posts really help. I should be more patient.

Last edited by mpstat; 06-21-2012 at 07:50 AM..
Rate this post positively Reply With Quote Quick reply to this message
 
Old 06-21-2012, 09:32 AM
 
3,020 posts, read 7,932,700 times
Reputation: 3238
Something to think about - when a house doesn't sell within a reasonable length of time, the reason is ALWAYS the price. Sure, negative features will limit the appeal and narrow the list of prospective buyers. And there isn't always enough reliable market evidence for an appraiser to make a reliable and accurate appraisal. Lowering the price in increments will also incrementally increase your pool of interested buyers.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 06-22-2012, 11:09 AM
 
11,528 posts, read 13,081,449 times
Reputation: 16682
When a house doesn't sell in a reasonable amount of time, there's a problem with the price, condition and/ or location. A good agent will know about these things. Also, staging helps. Good staging, not mediocre staging.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 06-22-2012, 11:17 AM
 
Location: Columbia, SC
10,219 posts, read 19,967,910 times
Reputation: 9025
Showings, no good offers? Either lower your price and/or improve your condition. That's all you have to do.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 06-23-2012, 11:15 AM
 
Location: Lewistown, MT
5 posts, read 15,314 times
Reputation: 19
I don't know your market or your house, so I can't give any specifics, but looking at it from a buyer's perspective, there are places to find out about price drops. You've been dropping the price so often, they may just be holding out to see how low you'll go. I did that when I was doing my last home search. From a realtor's perspective, I would suggest you talk to your agent about the market. They should be able to use the data from the area to give you an estimate of how long it takes for a house in your price range to sell.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 06-23-2012, 11:37 AM
 
Location: San Diego
42,327 posts, read 38,398,223 times
Reputation: 26651
A busy road is going to be a HUGE problem, wall or no wall.
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate

All times are GMT -6.

© 2005-2021, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top