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Hello! Our house has been on the market for three months now... One offer after 3 days (that fell through) and a few people coming back 2-3 times but ultimately picked another house. We have only had one showing in the last month, and so our realtor is doing an open house this weekend. We are already coming to the table with $5,000 if we close with full asking price and no closings paid (which we realize that we will need to pick up some if not all).
Feedback has been positive, but the small yard and closeness of the neighbors seem to be a deterant...
Just thought I would come here and ask if anyone else had suggestions? I have already moved across state with the kiddos and my husband is coming Nov 1st, so we really need to get this thing sold. Due to not having much equity in the house we can not move forward with another house until this is sold..... It is already getting old living with my inlaws
We can really only afford to drop the price $5,000 if we have to.
We are offering to leave appliances too.
We also thought that maybe we would offer to pay the HOA fees for three years.... Do you think that might help?
Nearly every house eventually sells. Most realtors will argue that you need to push the price down to a level where the house becomes a 'bargain'. I am not so sure I agree with that, but it is the standard line these days.
More than likely you just need time. Is the property well presented? Clean? Freshly painted? Landscaped/mowed neatly? Does it 'show' well?
If all of those are true, you can consider a commission incentive, a closing cost incentive, the HOA incentive which you proposed, or other financial 'incentives'.
In 'this' market, and there are places where things are coming off a deeply oversold bottom which are selling really well, but the prices are WAY down from historical highs, you generally can figure that your place will sell in 12-18 months. I know that is not what you wish to hear, but that is the way it is.
Try not to leave the house empty if at all possible, although realtors will say it doesn't matter, but to me an empty house screams 'house that won't sell and the people will accept a discounted offer'. Try to do some realtor open houses. Try to get the local paper to highlight your house in the Sunday real estate section as the 'house of the week'. Keep the listing fresh and upbeat. Don't trust the realtor to write the text or put in appropriate pictures.
One last thing: Do Not Consider Renting.
Good luck...patience and time are your best/only allies in this situation.
Our realtor says our house shows perfectly. It is only 6 yrs old and we fixed every tiny nail hole in preparation to sell I will talk to my realtor about other financial incentives we could offer. Our house is priced correctly (actually a little low). We have some stuff in the house because my husband is still living there while the kids and I are over here. Just really want it to sell so we aren't 6 hours away trying to keep things up.
Even incentives sometimes won't convince buyers to overpay for a house.
If your house were priced correctly, it would be sold by now. After three months, you should begin to consider that you may not get the price you say you can afford. The market determines how much your house is worth, not your budget and not the price of your new house.
Once we had to withdraw our house and lost a dream house in the process because, after bad advice from an agent, we understood (too late) that our house was NOT worth what we thought it was, and without that certain amount of equity we could not make the dream house budget work.
You may HAVE to lower more than $5K if you really want it sold.
We had a new build across the street with less sq ft, less bathrooms and less amenities than my house sell for $3,000 less than our asking price. We don't have another house in our sights as we need to save for a down payment (having to empty our savings to get out of this one). I understand that having to lower the price is an option, I was looking for that and others. We need the house sold, but I would rather have it sit on the market for a year than bankrupt ourselves selling it for a price where we don't have the money to bring to the table.
The key question is: How long does it typically take to sell a house in your neighborhood? Every market is different, some market a house is usually sold in under two weeks, other market may take two months. What is the norm in your neck of the wood? If you're in a hot market then something is obviously wrong for your house to sit so long. If you're in a very slow market, then I guess you just have to be patient.
It also sounds like you've moved a lot of furniture out of the house and it is now sitting half empty. Is that right? A house typically doesn't show well half empty regardless of how new it is. You also mentioned people complained your house being too close to your neighbor and small yard, are those not typical of your nabe? If so, that should be factored into the price. Also, as Wmsn4Life said, are you competing with new development in your area?
Even incentives sometimes won't convince buyers to overpay for a house.
If your house were priced correctly, it would be sold by now. After three months, you should begin to consider that you may not get the price you say you can afford. The market determines how much your house is worth, not your budget and not the price of your new house.
Once we had to withdraw our house and lost a dream house in the process because, after bad advice from an agent, we understood (too late) that our house was NOT worth what we thought it was, and without that certain amount of equity we could not make the dream house budget work.
You may HAVE to lower more than $5K if you really want it sold.
I'm always amazed at how many people don't understand that. And don't get me started on people who think their house should sell for 30k over market because "I worked hard on this house!"
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I guess patience is the route that I have to take
