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We listed our home on January 27 and haven't had any showings yet. (about 6 days) I'm getting nervous already because I really want to be able to drive away in our moving truck the first week of June! In fact, if we can't move by June 30 or so, we will have to stay until at least next summer because my husband is a teacher.
We are in a slow market here in Georgia. Homes are selling in my area, but mostly in the $138k range. One home comparable to ours took over a year to sell but they were listed way too high. (listed $189,900 & sold for $162,000 in December). Our house is very similar but with a yard that is twice as big, plus lake access, plus backs up to the Army Corps of Engineers wooded area. We are in the best school zone in the county.
Our home is a 1972 ranch with a small kitchen. The big draw is in the outside property. We have a double lot with lake access to Lake Lanier (walk down to the cove) It pops in April when our massive azeleas start blooming and the trees are green again. From my deck, I can't see anyone else and no one can see me. We are a 3/2 with about 1950 sf. We paid $190k in April 2006. (then put another $10k in renovations and repairs) Our current list price is $179,900 which I thought is aggressive but now I wonder if it even is.
We interviewed several realtors and one turned out to be the same realtor who was bidding against us back in 2006. She said she would buy the house from us now if she didn't already have one. Other people who see the house (coming to buy something from Craigslist for example) comment that "your house is so cute!"
I would be ok with selling for as low as $165k if that would get us out of here. (I really want to move back to FL to be closer to my family again. We've been here for 4 years and my two young children need to be close to their grandparents, not 9 hours away) We can get a home in FL for as low as $115 so I would be willing to give back some of the money we made in 2006 when we sold our FL house to come here)
If we have no showings after the first two weeks, then what? Our agent said "the first two weeks will tell us a lot". Should we be ready to reduce so soon? I might wait until early March when the weather gets a lot better here and then reduce to $175 and then to $170 if needed. Do you think buyers are holding off until April and then there will be a quick "jump" right before that tax credit expires? (that would be ideal for me, because our property will look spectacular and that contract/close timeframe would work so we don't have to get a rental or something until we leave)
What happens if a buyer wants to close sooner, rather than later? Are you able to accommodate this?
I would be out of here next week if a buyer wanted to close then! We already have stuff boxed up & in a storage unit.
Seriously, I'm up to a challenge. We moved here when our first child was only 6 weeks old (and in fact had a showing of our FL house within an hour after I came home from the hospital with the baby!) I also had to pack and move furniture during that move too (totally exhausted myself), and I was still waking up every 2-3 hours with the baby. (at our yard sale, a "nice" woman felt the need to tell me "You look exhausted!" Umm, gee thanks. It's 7:30AM and I have no makeup on. )
I'm sure we can find a way to make it work. We would have to get a month to month rental. (not easy with 2 dogs and 2 small children, but at least our dogs are 8 lbs each) Worst case, we put the dogs in the boarding kennel where they have already been many times. There are a lot of homes for rent here in the $800-900/month range so we could approach one of those owners and offer to pay cash up front OR just get an apartment. We are able to leave here the last week of May if need be too. I guess "Plan C" would be that I go to FL and stay with my parents while my husband stays in a motel here.
Ideally, people will get out and buy in April (at the same time our landscaping comes to life), sign a contract by April 30th for the tax credit, close at end of May, and be on our way to FL right after the school year ends.
As a fellow seller, I feel your pain. I would wait 30 days and then drop the price $10K (or more if you can do it).
We just dropped our price $10K on Jan 3 and are contemplating another drop this weekend. Been on the market 124 days and will be closing on our new home in 6 weeks. Argh.
FWIW, we've had most of our showings (30+) on weekends, so hopefully you'll start getting some appointments tomorrow. Best of luck to you and keep us posted!
Buyers out here are taking their time. I actually am finding that my showings don't start to pick up until about 10 days out. There isn't a sense of urgency out here for most home purchases.
A great deal of the of the importance rests with LOCAL time on market for similar homes. I would shocked the average time on the market is anywhere near 10 days...
Has your agent told you how many folks have viewed your home online?
That is a good place to start.
My gut is that you need dozens of folks viewing your online listing before you get any showing in most areas.
I think your house is priced too high. I'd reduce by 10k now, then see what happens in the next 30 days.
My guess is it will sell for 168k.
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We already have stuff boxed up & in a storage unit.
