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Old 08-10-2013, 10:38 AM
 
Location: The Triad (NC)
31,937 posts, read 73,484,252 times
Reputation: 38879

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Quote:
Originally Posted by AKBuffy View Post
Three sales in my price range/area 220-250,000 (one street back from water)...
How recently did they close?

Quote:
We did a full gut job..
I would think we would have gotten an offer from somebody that wants move in ready...
Which there are more of in most markets...
and which gets back to the Q of how well the agents are screening the prospects.

Of course it could also be that everyone considers your (gut job remodel) taste to be awful.
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Old 08-10-2013, 10:54 AM
 
Location: Anchorage, Alaska
11 posts, read 23,922 times
Reputation: 10
Quote:
Originally Posted by MrRational View Post
How recently did they close?


Which there are more of in most markets...
and which gets back to the Q of how well the agents are screening the prospects.

Of course it could also be that everyone considers your (gut job remodel) taste to be awful.
Ouch


They closed about 6 weeks ago. At what point is a CMA no longer "current"? With school starting soon there's not going to be very much to compare it to.
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Old 08-10-2013, 12:09 PM
 
Location: NC
8,119 posts, read 11,016,648 times
Reputation: 17409
Many buyers, myself included, would do a search for houses priced a little more than they would like to pay.

If they like the house, but think it is truly overpriced, they make an offer for less than the asking price.

If they love the house, and think it is priced well for what it is, they just find a way to afford it at the price asked. (This only works because no buyer in his right mind sets out to pay the maximum that the mortgage companies allow--unless he is expecting a guaranteed windfall in the next year or so.)
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Old 08-10-2013, 12:11 PM
 
8,283 posts, read 12,706,761 times
Reputation: 4995
Quote:
Originally Posted by AKBuffy View Post
My husband and I have our home on the market for 229,000. Our realtor is wonderful, comes highly recommended from friends/neighbors and priced our home based on a CMA. We paid for a private appraisal for comparison and it backs up the list price. Similar homes in our neighborhood have sold for around 220,000-250,000 in the last 45 days.

My question is this: The home has been on the market for about 35 days with about 20 showings but no offers. I keep asking about dropping it to 224,900 so that we show up in a lower search bracket but he's advising us to wait another week. Our neighbor said that our realtor's been doing this long enough to know the signs of a possible impending offer and to sit back and let him do his job.

I keep seeing posts where the realtor wants to lower the price but none addressing when the buyer wants to drop the price.
AKBuffy? As a realtor I can tell you something about your experience so far. The price isn't the problem but perhaps your property? If you had 20 showings and nobody hasn't even made a "low ball" offer there is something else going on besides the price.
What has your Realtor told you and is he/she giving you feedback after every showing? I have sold foreclosed HUD homes that look like they were bombed in Afghanistan! Something else is going on.
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Old 08-10-2013, 01:28 PM
 
Location: Anchorage, Alaska
11 posts, read 23,922 times
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Quote:
Originally Posted by MiamiRob View Post
AKBuffy? As a realtor I can tell you something about your experience so far. The price isn't the problem but perhaps your property? If you had 20 showings and nobody hasn't even made a "low ball" offer there is something else going on besides the price.
What has your Realtor told you and is he/she giving you feedback after every showing? I have sold foreclosed HUD homes that look like they were bombed in Afghanistan! Something else is going on.
We've gotten feedback after every showing with it being predominantly positive. NEVER has price been brought up but that's the only thing I have control over. The negatives we've gotten have been the small guest bathroom (I agree), the age of the air conditioner (SEER is 13 so it could use updating which is why we've bought another year of home warranty and have a clean home inspection done in June) and....the super weird complaint was that it was a double lot on a corner. That one actually stumped our realtor because corner lots are usually desirable. To each his own.

We have two showings for today and they just called to schedule another one for tomorrow. Clearly, the professional staging and photographer did their job getting people in the door but something's not clicking and we need to have a blunt discussion with our realtor.

To my original question....anyone have any thoughts to why a realtor would advise waiting when the seller wants to drop the price? Perhaps he's in shock that a seller brought it up first??
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Old 08-10-2013, 01:37 PM
 
Location: Up above the world so high!
45,246 posts, read 94,416,896 times
Reputation: 40085
Quote:
Originally Posted by AKBuffy View Post
We've gotten feedback after every showing with it being predominantly positive. NEVER has price been brought up but that's the only thing I have control over. The negatives we've gotten have been the small guest bathroom (I agree), the age of the air conditioner (SEER is 13 so it could use updating which is why we've bought another year of home warranty and have a clean home inspection done in June) and....the super weird complaint was that it was a double lot on a corner. That one actually stumped our realtor because corner lots are usually desirable. To each his own.

We have two showings for today and they just called to schedule another one for tomorrow. Clearly, the professional staging and photographer did their job getting people in the door but something's not clicking and we need to have a blunt discussion with our realtor.

To my original question....anyone have any thoughts to why a realtor would advise waiting when the seller wants to drop the price? Perhaps he's in shock that a seller brought it up first??
I think he must really believe you can get more than you think if you are just patient a little bit longer

He doesn't want to see you take less than the market might actually be willing to pay.
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Old 08-10-2013, 01:42 PM
 
Location: Anchorage, Alaska
11 posts, read 23,922 times
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Quote:
Originally Posted by lovesMountains View Post
I think he must really believe you can get more than you think if you are just patient a little bit longer

He doesn't want to see you take less than the market might actually be willing to pay.

I really hope you're right.
Time to go tidy the house up and make it smell like cookies....another showing in an hour.
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Old 08-10-2013, 01:44 PM
 
Location: Up above the world so high!
45,246 posts, read 94,416,896 times
Reputation: 40085
Quote:
Originally Posted by AKBuffy View Post
I really hope you're right.
Time to go tidy the house up and make it smell like cookies....another showing in an hour.
Good luck!! Today could be the day
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Old 08-10-2013, 06:58 PM
 
Location: Chapel Hill, NC, formerly NoVA and Phila
9,389 posts, read 14,234,723 times
Reputation: 9868
Good luck!
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Old 08-10-2013, 09:37 PM
 
2,727 posts, read 5,014,927 times
Reputation: 2288
Why don't you ask your Realtor why s/he doesn't agree with a price decrease?
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