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My house is for sale in a very cold buyers market. Each day at least two new listings hit the market and and everyone is chasing the market down. Just when you think your home is the best value, BOOM here comes a great home with a bloody pool for 30 grand less in same zip. I'm going crazy.
I just want to give up. It's like rats on the titanic. Everyone is fleeing this area for a variety of reasons but mainly the high tax bills. It's like a distressed seller is around every corner and the listings priced 50-60 grand less are pulling everything down.
I'm always fascinated by trends. How a zip code can start to turn into sellers market or a buyers market.
Do I keep chasing the price down or remove house? We are being relo' but bare bones pkg. It does not have a buyout clause. Do I rent the home out at a loss? Take out off market and wait till fewer homes are listed? Do I price even lower and just walk away without any profit? Wanted to move before school for our kids. I'm so stressed. Will spouse be fired if house doesn't sell and we can't get moved?
Facts
House listed for 79 days w 5 showings
Start price 344,000 ( realtor set price swearing the mkt was getting hot)
Priced at 329,000
Taxes 10,063
Could rent for maybe 2200 /month. Would be 1000 short of my monthly payment.
Bought @400,000 in 05
Any home in this zip priced 250,000-280,000 goes fast if clean. Anything over 300,000 tends to linger. I see plenty of homes go contingent then pop back out after a month.
Just today another house hit the market that has a huge in ground pool..same list price and 2 grand a year cheaper taxes...buyer will have that house under contract in a week I bet. Every day another great deal comes to market. There is a panic setting in around this zip code. Im going to lower my price again.
Northern Illinois. 60081. I think the whole state is toast considering our financial problems the state is in.
My first thought when reading the original post was this person must live in Illinois! I have a winter home in Arizona and it's amazing how many people flee there from Illinois.
I'd bring a stager into your home to help it out a bit. The photos are nice quality but your home isn't presented as nicely as I think it could be. It is too stripped down. It needs decor. I'd talk to your agent about getting some staging done. Your family room furniture is laid out weird too. It makes the room feel off.
If you are in a cold sellers market you will need all the help you can get to get your home sold.
I think your home is fine and won't benefit from the added cost of a stager. You've been on the market less than 90 days, so it's not bad for the area. You are priced a little higher p.s.f. than comps - there may be good reason for this. I'm also in Lake County but not trying to sell my home. I think the right buyer will come along. Looks like you've come down in price every thirty days, which makes it look like you are willing to negotiate. That's good. Curious as to what your realtor is saying now.
Is your spouse not willing to move into temporary housing at his new location? I understand about wanting to move before your kids start school. How old are they?
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