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I live in Murfreesboro in a large 600 house subdivision towards the north. The houses are less than 10 years old but they keep adding streets with new houses. My house plan sold (on my street) about 30 days ago for 315K at 2161 sq ft. The same house plan on same street, just went on the market last night for 309K but does not have a fireplace. It seems the sale price in our subdivision is going around 136-142$ a sq feet. They don't have the trim work yours does. Also the bathrooms have the showers that have that all in one plastic. I have noticed a glutton of homes for sale in our subdivision. I wondered if the City property tax being raised by 35% could have some impact? I searched around the Blackman area extensively when I was house searching. There's nothing negative about it. In my opinion, your home is properly priced but there are too many homes available between the 285K-350K$ range. I am not a realtor but a housing market enthusiast. You can PM if you have any other questions more Murfreesboro specific.
Thank you, this is great feedback and nice to hear from someone in the area that knows the area. We are looking at a price reduction even though I really do feel we're in the ball park. Time is a factor here though. I wish we could've listed in May-June but I had no idea I was going to be selling my home until the beginning of August.
I think it's a nice house. Has your agent provided any feedback from all these showings? That should help figure out why no offer has been forthcoming.
Thank you! Our agent said the only negative feed back that's been received is the kitchen being small and all the bedrooms being upstairs. He specifically has asked some of the buyer's agents if there was a price that would get their buyer interested, answer was no. In summary he's told me he feels the floor plan is not for everyone (dated) and "it's going to take the right family." I can't afford to wait too long but can't afford to give it away either. So we'll continue to wait I suppose and probably do some price reductions along with updates to the listing description, photos, etc.
Because of the number of showings you've had, I'm not convinced that it's overpriced. If it were overpriced, people wouldn't bother seeing it in person. They'd see the price, see the pictures, and scroll to the next listing. IMO, there's something about the house or it's location that buyers are noticing during the showing that is turning them off.
For me, the proximity of the neighboring homes would be a problem. You guys are right on top of one another. The listing description calls it a large private lot - it is not private. Have your agent remove that word. Additionally, could it be the wide angle photo of the backyard makes it appear the backyard is larger than it actually is? I realize those are things that cannot be changed. It is what it is. And even though it may not be overpriced, you may need to lower the price to deepen your pool of buyers and someone will overlook those things for the right price.
Also, if the lot lines shown on Google maps are accurate, it appears that a corner of one neighbor's house is actually on your lot? If I'm buyer, just seeing that is concerning. If Google maps is inaccurate, have your agent upload an image of the survey showing the actual setbacks and locations of the structures.
You're close to BNA. What about plane noise?
What's the average days on the market for homes on your street?
With the number of showings you've had, I feel like your agent should have gotten some feedback about why there's been no offers.
Please check out the replies I just left, many of your answers are in there.
The back yard does have great natural privacy to the rear, and while oddly shaped (long) it's pretty large in comparison to other homes in the neighborhood. One of the neighbors is faced towards the garage and you can literally take about 10 steps from my driveway and be at their front porch. We've always hated that, but they're nice and keep to themselves. A privacy fence and some patio furniture would fix all that but I can only absorb that cost in the listing price, not out of pocket at the moment.
We're not that close to BNA. I've never even seen an airplane overhead actually. I do not know the average days on the market for homes on my street. I know city wide its about 50, but the specific homes I looked at which were noted as contingent have been on the market as long as or less than mine. Two had an offer in fewer than 5 days.
I'm not sure on the lot lines as I haven't had a survey done. Typically lot lines are well off vs aerial imagery. I see them going through the middle of buildings when doing preliminary routing studies for utilities on a daily basis, so that isn't concerning to me. I'm not sure it's worth the investment in a survey if we haven't heard mention of it in any feedback though? Property survey would probably run me ~$500-$700 if I had to guess.
Definitely emphasize the 3-car garage. That is a real bonus for many buyers these days (wish we had one).
Also, a “long” yard is fine for kids playing games like soccer, softball, etc. A fence probably would be helpful but maybe not worth the expense.
I agree with another poster that the photos seem out of sequence and I got no sense of the layout. One photo basically showing the sofa did not seem helpful. The last photo was quite useless in showing the design. A “flat” floor plan depiction would be more helpful.
You have a clean, decluttered home with great schools. I don’t see any major problem with the baths although the kitchen may seem smaller as it looks dark (counters, backsplash, etc.).
Not all people like open concept but prefer a more traditional home for noise control and privacy. Your price may have to drop but certainly it should sell. Best of luck!
Here's a brilliant idea if allowed in your board (can't see why it wouldn't be):
I've done it before and it worked like a charm, instead of lowering the price, double the commission to the selling agent (if they're currently getting 3%, offer them 6% and have your agent promote the heck out of that to other agents).
I did this on a piece of vacant land that would normally take quite some time to sell (at my seller's request) and I had 3 offers in a number of days - money talks and realtors are the ones who decide who sees your house so if you pay them a TON, it might do the trick - you could at least try it for a couple of weeks.
P.S. small incremental price drops don't often have enough impact to make a wave.
Here's a brilliant idea if allowed in your board (can't see why it wouldn't be):
I've done it before and it worked like a charm, instead of lowering the price, double the commission to the selling agent (if they're currently getting 3%, offer them 6% and have your agent promote the heck out of that to other agents).
I did this on a piece of vacant land that would normally take quite some time to sell (at my seller's request) and I had 3 offers in a number of days - money talks and realtors are the ones who decide who sees your house so if you pay them a TON, it might do the trick - you could at least try it for a couple of weeks.
P.S. small incremental price drops don't often have enough impact to make a wave.
I thought about this as well. We're considering upping it to 4%. I kind of agree on the small incremental decreases but I'm having to trust my agent. I think he wants to do the small decreases because he doesn't feel pricing is the issue, and any change in pricing I believe will bump us up in the listings generating more views.
Only thing I can add is that the pictures are just awful. Im somewhat surprised that a realtor would put pictures like that up, if he was worth his salt. It seems people are coming to look at it, tho, so something, once people get there, are turning people off. Its not price, if people are coming; but if theres no offers after people see it, then it is price. You may have to lower it to where people think, well I really dont like this about this house, but at that price, I can live with it.
Here's a brilliant idea if allowed in your board (can't see why it wouldn't be):
I've done it before and it worked like a charm, instead of lowering the price, double the commission to the selling agent (if they're currently getting 3%, offer them 6% and have your agent promote the heck out of that to other agents).
.
If I’m not “feeling the love” looking at a property, the fact that my agent is going to get a bigger payday isn’t going to get me to like it any more. Maybe less...I might be suspicious s/he was really pushing this house just because of the commission rate.
I thought about this as well. We're considering upping it to 4%. I kind of agree on the small incremental decreases but I'm having to trust my agent. I think he wants to do the small decreases because he doesn't feel pricing is the issue, and any change in pricing I believe will bump us up in the listings generating more views.
I would not offer more commission to your listing agent, he is not bringing the buyer.
Your home is the only listing he has at this time, from what I can see online and he has 6 years experience.
You are admittedly under time constraints, additional stress, all which are unfortunate.
Know what your net gain is from this sale and price accordingly to get it sold.
Know what your net gain is from this sale and price accordingly to get it sold.
It's going to be peace of mind and bliss I tell ya I'm one of two on the deed though so I'm constrained on how far I can drop the price...
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I'm one of two on the deed though so I'm constrained on how far I can drop the price...
