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I'm located in a suburb south of Pittsburgh.
We're in the process of selling our first home. Our market has been pretty hot, but admittedly, it appears to be cooling down a little bit. Our home really is lovely and we're very proud of the updates we've made in the 8+ years we've lived there, but our family has grown, as has our need for additional space. Because of this, we found a home we loved with plenty of extra space for a great price that needs a little cosmetic TLC (the bathrooms/house are gorgeous...the kitchen needs remodeled). We closed on it a couple weeks ago, right as we listed our first home.
We've saved up to ensure we can carry both homes for awhile, but of course, we'd prefer not to drain our savings completely. Additionally, as we completed the process, I found out I will likely need brain surgery in the next few months, so that is going to be a very hard financial (and personal) hit.
Now, I'll be honest, we've only been on the market about 10 days, but I can't help but dive into the anxiety rabbit hole over selling this house. It's a great house in good shape...a little on the small side...with 3 bedrooms, 1 full updated bath upstairs, and a bathroom with a shower/toilet/sink in the unfinished basement. That bathroom isn't pretty, but it could certainly be updated if someone wanted to go that route. We've updated light fixtures, countertops and backsplash, and the house has hardwood floors. It also has a nice backyard, brand new shed, newer trex deck, etc. Lastly, it's in an excellent school district. The drawback? It's on a 4 lane, 35mph road, which I know is stopping a lot of people. We always kept the hedge out front on the higher side for privacy, but cut it down halfway yesterday with the hope it would make it easier to see getting out of the driveway.
Homes usually sell for 190-350 in our immediate area, depending what neighborhood you're in. We initially listed at 169,900 at the suggestion of our agent. I'd say we've had around 11 showings, all of which provided great feedback, with one or two directly mentioning the road or the house not being large enough for their family needs. As of Thursday afternoon we dropped the price to 155 with the hope it would help attract more viewers. We've had two showings scheduled since (a last minute one last night, which I'm not sure even showed up) and one scheduled for this afternoon. We're having an open house tomorrow.
I guess I'm wondering... should we drop the price again in the very near future? We were really banking on some of the money from the sale to help us make our new home "ours," but more importantly, we're trying to be realistic (and not greedy) as we're incredibly motivated to sell, specifically because of my surgery. My husband and I are both stressing ourselves out at this point and conflicted about how to move forward. Our agent is being as helpful as she can and doing her part, but I figured it never hurt to get a second opinion from others who may have gone through something similar. I am open to any and all suggestions - even if it's just something like "calm the hell down, lady, it's only been a few days "
$155k is already low. What is important is the appeal of the house to its future owner. You are not selling large quantities to the general public. Just one person. YOU bought the house before, you liked it, why wouldn't it sell now?
How much of a consideration was the road when you bought it? Has the road gotten busier? How much of a price drop did you expect for the road? How long was it on the market when you bought it?
$155k is already low. What is important is the appeal of the house to its future owner. You are not selling large quantities to the general public. Just one person. YOU bought the house before, you liked it, why wouldn't it sell now?
You're absolutely correct. It really is a great house. I really appreciate the perspective adjustment. I really struggle with my anxiety and put myself in a state sometimes... lol. 155 truly is a great deal for the house, so keeping fingers crossed someone falls in love with it and is willing to overlook the road situation, just like we did in 2013!
How much of a consideration was the road when you bought it? Has the road gotten busier? How much of a price drop did you expect for the road? How long was it on the market when you bought it?
Hi! Thank you for responding. At first we were put off by the road and looked at a couple more houses after initially seeing it, but went back for a second look a day or two later. We realized you could barely hear the traffic indoors and even when outside in the backyard it sounded more like ocean waves than traffic. Plus, the house is conveniently located to restaurants, stores, etc., so we were able to get over any inconveniences the road posed pretty quickly.
Luckily, the road hasn't gotten busier (its busiest times would be rush hour and even then it'll only take a couple minutes to wait for traffic to pass by to get out of the driveway).
Back in 2013 it was on the market for a little under 3 months and we felt we got an excellent deal - they listed at 110,00 and we got the house for 104,900. In today's market, if our home weren't located on the busy road, we've been told by a few people including our agent it would be worth around $220,000.
Calm the hell down, lady, it's only been a few days.
Couldn't resist. Seriously, it's only been a few days. I wouldn't drop the price any further. It's likely not a price issue. It more likely that the right buyer just hasn't come along. Some people won't give two hoots in hell about the highway, but will be very impressed with the reasonable price on a nice house in a very convenient location. That person just hasn't come along yet. Give it 60 days and get back to us.
Calm the hell down, lady, it's only been a few days.
Couldn't resist. Seriously, it's only been a few days. I wouldn't drop the price any further. It's likely not a price issue. It more likely that the right buyer just hasn't come along. Some people won't give two hoots in hell about the highway, but will be very impressed with the reasonable price on a nice house in a very convenient location. That person just hasn't come along yet. Give it 60 days and get back to us.
LOL. Thank you!! I genuinely appreciate the encouragement!!
Nothing really more to add other than what the other posters have said. Here is hoping that the right buyer comes along soon and that your surgery goes well.
Nothing really more to add other than what the other posters have said. Here is hoping that the right buyer comes along soon and that your surgery goes well.
Try to relax. I doubt that it's a price issue. More likely it's just a time-of-the-year issue. Hopefully someone will come along who will want to try to get in before Christmas.
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