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Maybe we will have to look at price again...We started at $335 and are down to $299 and the appraisal came in at $330...But, the smaller units are up for sale for about $270 so...(But they are not moving either!) I hate to slash it again, but we do need to get it sold...
Thanks for the info
If the smaller units are not selling at 270, then what does that tell you!
You guys are all overpriced.
If you truly have to sell it, you need to be at a price point where you'll get traffic. It'll probably be a major loss, but the alternative is to wait till late '08 at least (until a majority of ARM's reset and inventory starts to lessen).
Unfortunately many people who bought at the peak or close to it are in the same boat you are in....GL
We all bought from $270-$340 last year when the development started...We paid $306 and are listed at $299...So, I don't know if we are all overpriced or not...For almost 3000sqft, I thought we were too low...But I guess the market says otherwise
Are there a lot of new townhomes being built in the area (outside your specific development)? If so, builders are offering huge incentives right now and that's probably why you aren't getting showings. That's how it is right now in Atlanta- it's almost impossible to sell a used luxury townhome here, because there are so many new ones going up at $20-$30k off original price.
We all bought from $270-$340 last year when the development started...We paid $306 and are listed at $299...So, I don't know if we are all overpriced or not...For almost 3000sqft, I thought we were too low...But I guess the market says otherwise
Twin- haven't you been paying attention to what's going on in regards to Real Estate around the country? There are many markets that are glutted w/homes for sale. Also, w/the subprime mess its harder for potential buyers to get financing. If the market says the smaller units at 270K are not selling, then they are overpriced just like your TH. There is no rule or free lunch on making a profit (or even making your money back) on a home.
Jack-did you read the last part of my sentence? " I guess the market says otherwise." And, we are not trying to make a profit, or get out money back. If that were the case we would be listed for at least what we paid for it, and we are $6,000 under that. And, we are offering sellers assist...
It is just hard to stomach lowering the price anymore when the appraisal came back at $330!
What is going on in the rest of the country has nothing to do with
your home except for the perceptions the public has from the idiot press
and other misinformation being spread.
You stated that you have your home listed below appraisal. Sometimes
it is better to have your listing price higher and give concessions at
closing. This may give you a larger audience of potential buyers.
Remember, all buyers are not sub prime and there is plenty of money
out there to lend.
Also, extremely important is advertising. Consider taking your home off
the market for a few days, putting the price closer to appraisal, offer
money in some fashion (ask your agent) to the buyer at closing, and
let the world know. Even if you have to advertise some yourself, it is
better than having the property sit on the market.
Think outside the box.
Best wishes.
What is going on in the rest of the country has nothing to do with
your home except for the perceptions the public has from the idiot press
and other misinformation being spread.
Best wishes.
That statement might be the looniest statement I've heard on this website. Don't sugarcoat it. The NAR and some of the Realtor shills who buy into their garbage are just as guilty (or worse) for putting out lies to the general public.
Of COURSE what's going on around the country has everything to do why she's not getting showings. Buyers around the country are not jumping into the feeding frenzy of overypaying for homes anymore. Its a ripple effect. The market is cleansing itself of the homebuilders who built WAY too many homes (even by the admission of HOV's CEO) over the past couple of years.
To me, its a good thing for people in many markets who can now afford some decent housing for a change.
I believe your response speaks for itself and for you.
I gave a factual based response in an effort to help the seller.
You, and others spouting nonsense, are part of the problem.
If you are not going to help the people requesting help, please
stay out of the way.
You equate me telling it "like it is" to "not helping people".
That statement couldn't be FURTHER from the truth!
YOU are actually hurting the seller more by telling her the market is better than it actually is! If you want her to sell her home, you would be candid, direct, & truthful. Sure, the truth hurts, but people need to wake up and realize they can't get what they want for their "taj mahals" anymore. The majority of the country plain and simple is in a "buyer's market".
How many sellers have come onto this website telling us that they've had no showings for months? You do know the main reasons why, don't you?
What you are doing when you say the "media is to blame" and "what's going on over the rest of the country isn't affecting you" could be the worst advice possible! These statements are like cutting and pasting from the NAR website, plain and simple.
Please don't give other good realtors here a bad name and please open your eyes to what's going on all over the country.
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