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OK, So my house has been on the market since April 2007. The price has been lowered 4 X. Price-wise, I am right where I should be. Realtors concur. Better homes sold for more, worse homes sold for less. However, I am moving in June and need to have this house sell this spring. Should I lower once again to make it comparable to the houses which are not as nice as mine? Will that do the trick? I have been told not to take it personally, the market sucks, the right people will come along, etc, etc. But honestly, I hate this. When I have a showing, I am like a basket-case yelling at the kids clean up, don't eat anything, don't use the bathroom. Everything has to look like we really don't live here!! Then all the cleaning on top of cleaning...hours of it only to have some of the potential buyers spend as little as 5 minutes in the house. Or the ones who love it, never to be heard from again. So what do you all think....instead of a lowball offer, how about a lowball asking price?
I have no advice, only empathy. My house has been on the market for 2 months with a few lookers, not one offer. I keep hearing, the house is great, slow time of year, the market is slow, it will sell, Spring is coming etc. Other houses have sold in our neighborhood, but they are in a different price point (cheaper homes). Agent says we are priced right, we lowered it once. The kicker is I am due to have a baby in 4 weeks, can't wait to show a house with a newborn.
Sorry, no words of advice-just that it seems to be a theme!
We listed our house below fair market value and it sold at asking price in 2 weeks.
It depends on what you are offering and what you need. Our house is completely remodeled and was in pristine condition. We staged it well too. So it was super clean.
OK, So my house has been on the market since April 2007. The price has been lowered 4 X. Price-wise, I am right where I should be. Realtors concur. Better homes sold for more, worse homes sold for less. However, I am moving in June and need to have this house sell this spring. Should I lower once again to make it comparable to the houses which are not as nice as mine? Will that do the trick? I have been told not to take it personally, the market sucks, the right people will come along, etc, etc. But honestly, I hate this. When I have a showing, I am like a basket-case yelling at the kids clean up, don't eat anything, don't use the bathroom. Everything has to look like we really don't live here!! Then all the cleaning on top of cleaning...hours of it only to have some of the potential buyers spend as little as 5 minutes in the house. Or the ones who love it, never to be heard from again. So what do you all think....instead of a lowball offer, how about a lowball asking price?
Having to close by the spring doesn't give you much time at all.
I would get as aggressive as you can. Don't fool around anymore.
It will go back on the hot sheet. The market will tell you what your house is worth.
I know exactly what you mean Im a mad woman when I have a showing my poor daughter and husband. I too wonder what I can do to get it sold. I have been on since April to. My husband says lower it enough it will sell but I cant lower it much more if I want to get the house I want. Some people say offer an incentive that the other houses like yours doesnt have. Paying closing costs. Including a weekend get away. Big Screen TV. If they like yours as much as the next one maybe the incentive will make them go towards your house. Im thinking about doing that soon. Mindy
From a buyers perspective it makes me wonder what is maybe different about your house than some of the ones near you that are selling. Could there possibly be features and/or amenities in your house that are not meeting the expectation of buyers in your area?
For instance, in my opinion - and I've seen other posters say this in other threads as well - a bad floor plan cannot make up for other things. Also, I've recently started crossing nice homes off my list if the ratio of bathrooms to bedrooms is too small. I've seen nice older homes, but with only 1 bathroom, and that just won't fly for me anymore since I've seen newer homes in my area with an equal ratio of baths to beds.
Even if you are able to identify that a feature/amenity problem may be the reason why your house isn't selling as quick as you like, it may not be anything that you can correct. But, it may help you change the marketing of the house a bit and accentuate other features better that could possibly give you an edge over competitors.
You need to take a hard look at the house. Is there anything that would make a buyer squawk at purchasing it: closed off floor plan, dated interior, poor landscaping, neighbor with ugly dilapidated monster truck in the driveway that doesn't work (okay had this happen to one of my sellers)...
It sounds like you have had several agents look at the house...what are they saying?
Thanks for replies. My house looks like all the others in the neighborhood. We have same floor plan with same square footage. The feedback varies. I took part of the finished basement away and made an extra bedroom. Some like that idea, others hate it and want the full basement. I have wall to wall carpeting, though in good condition, it is not new. Many buyers prefer hard wood floors. I have wallpaper throughout. Some like it, others hate it. I have had buyers who have really liked the house overall, but no offers, and others who ask if the price is negotiable so they can do the cosmetic changes they want. I say yes, of course, my realtor encourages any offer....then nothing! I will probably lower the price below what the homes in my area are selling for as I cannot afford to replace the carpet with hardwood floors or redo my basement.
Thanks for replies. My house looks like all the others in the neighborhood. We have same floor plan with same square footage. The feedback varies. I took part of the finished basement away and made an extra bedroom. Some like that idea, others hate it and want the full basement. I have wall to wall carpeting, though in good condition, it is not new. Many buyers prefer hard wood floors. I have wallpaper throughout. Some like it, others hate it. I have had buyers who have really liked the house overall, but no offers, and others who ask if the price is negotiable so they can do the cosmetic changes they want. I say yes, of course, my realtor encourages any offer....then nothing! I will probably lower the price below what the homes in my area are selling for as I cannot afford to replace the carpet with hardwood floors or redo my basement.
In today's market if you want to sell, you need to STAND OUT. Whether that's price, staging, whatever. You do not stand out and there are mulitple homes like yours. Not sure what the problem if you have a lousy realtor or what, but you will keep treading water unless you do something to make your home visible (ie price, staging..)
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