My house has been for sale...and

[crystalheart1]

It is a very interesting experience. Everyone says it shows great.. beautiful decor..etc but no offers. Of course we get it is priced a bit high.. which over the last few months three very similar houses in my development sold within weeks, and were listed a few thousand higher.. I even have a bonus room and upgrades All wood floors new kitchen and bath.. etc... I know August was a slow month, and the showings have been picking up. We listed it about seven weeks ago.

We had a few people interested, one did not qualify, and the other wants to sell her house before she puts in an offer (divorce situation)

Finally last night we found out someone was "fine" with our listing pricing ( we also lowered it $4k) and possibly interested, but they are also interested in another house in the court across from ours. That house has been listed for over a YEAR and is 6K higher. They have a skylight, fireplace , and starburst windows in the family room.

Has anyone sold or listed their house recently,,, and if so what kind of feed back did you get??

It is not fun having to wait in your car for an hour or so while it is being sold.. I feel bad for my son who is in college - hard to study when you can''t be at home..we had four showings in a row this week!

 

[iheartscience]

Hmmm...in my experience obsessively following my local real estate market, houses that are priced well sell right away. If your house is priced a bit high, it's not going to sell quickly. The house I ended up buying was on the market for 9 months because it was so overpriced. The owner finally wised up and sold it to us for a fair price. I'd say we even got a little bit of a deal because at that point she was desperate to sell it. So my advice-study the comps with your realtor and try to be completely unbiased. If it's showing great but you're not getting offers, people probably just don't like the price. Good luck!

P.S. Have you watched any of the home staging shows on HGTV and TLC or Real Estate Intervention on TLC? Those shows could give you some ideas to make your house show even better.

ETA my older sister and her husband had their house listed for about 5 months and finally ended up selling it for about $10k less than list price. They almost walked away from the deal because it was a bit low for the house, but they were tired of paying two mortgages so they bit the bullet and sold it for less.

 

[janinegirly]

I agree--if it''s not priced right it will not sell. And then there will be a perception that it has sat on the market for awhile for some reason. A house that shows well and is priced right will sell fast even in this market. Look at comps and price realistically...this is a buyers market as we all know. If you really need to sell, think big picture. A couple K will not make a big difference, but not selling for an extended period will...

good luck!

 

[cellososweet]

Have you had an open-house? If you haven''t, one might be good. When people are just looking at your house on their own accord, it''s usually because they are looking at 3-4 different houses that day and yours is on the list. It creates a direct-comparison type of situation and it''s largely psychological. When there is an open-house, it''s great for you all because you can be gone for one day instead of being at the mercy of random lookey-loos. It can also be great for the potential sale because if it is done well, there will be multiple potential buyers there at a time and a sense of competition can really push people to put in an offer.

If you do have an open-house, you have to make sure that your agent really "sells" the house to people really well. This could be the thing that is lacking if you have had an open house and didn''t get much feedback. Talk with him/her about things that you want to highlight to the potential buyers. Built-ins if storage is lacking in your neighborhood, a larger yard if people have kids, touting the bonus room as a playroom for people with kids or as a game room for people with teenagers or a den for a young couple.

It''s a rough economy and there is a lot of competition. For the places that sold at a high rate, look at the number of bathrooms/bedrooms, layout, total square footage, etc. Also, if you are in a warm area and they have a pool and you don''t, they have a huge one-up regardless of upgrades inside,etc.

And as for it showing great, who is saying that it shows great? I''m not trying to say you have a bad sense of style or anything it''s just that perhaps the people telling you that it shows well have the same taste as you. I hope this was helpful. I have total pregnancy brain and my posts are all over the place lately. Sorry.

 

[crystalheart1]

Thanks for your responses... We have just lowered the price and I will again in order to sell it. The original price was Lower than the ones that sold over the summer. I had interviewed about five agents, and they suggested the price.

Both buyers and Realtors are saying my house shows Great, Beautiful decor..to excellent. We had a few open houses, and my realtor is the TOP Realtor in her office. She has been in the business for 30 years..The open houses usually bring in tire kickers..lol

I have had people take pictures of my house for decorating ideas...so I "think" it is fine

One thing ,, which I heard a few times.. Many people are looking for "fixer uppers" due to the tax credit rebate. Mine is already done so the buyers looking for below market value deals, are out of luck...

It is a catch 22.. I will probably reduce another five thousand in the next week

Wish me luck

 

[crystalheart1]

Date: 9/17/2009 3:15:14 PM
Author: cellososweet
Have you had an open-house? If you haven''t, one might be good. When people are just looking at your house on their own accord, it''s usually because they are looking at 3-4 different houses that day and yours is on the list. It creates a direct-comparison type of situation and it''s largely psychological. When there is an open-house, it''s great for you all because you can be gone for one day instead of being at the mercy of random lookey-loos. It can also be great for the potential sale because if it is done well, there will be multiple potential buyers there at a time and a sense of competition can really push people to put in an offer.

If you do have an open-house, you have to make sure that your agent really ''sells'' the house to people really well. This could be the thing that is lacking if you have had an open house and didn''t get much feedback. Talk with him/her about things that you want to highlight to the potential buyers. Built-ins if storage is lacking in your neighborhood, a larger yard if people have kids, touting the bonus room as a playroom for people with kids or as a game room for people with teenagers or a den for a young couple.

It''s a rough economy and there is a lot of competition. For the places that sold at a high rate, look at the number of bathrooms/bedrooms, layout, total square footage, etc. Also, if you are in a warm area and they have a pool and you don''t, they have a huge one-up regardless of upgrades inside,etc.

And as for it showing great, who is saying that it shows great? I''m not trying to say you have a bad sense of style or anything it''s just that perhaps the people telling you that it shows well have the same taste as you. I hope this was helpful. I have total pregnancy brain and my posts are all over the place lately. Sorry.

Congratulations on your pregnancy

 

[cellososweet]

thanks!

I really hope that you sell. It''s such a hard time to sell right now because buyers have room to be picky as heck. 7 weeks isn''t that long for this time of year I don''t think. I know that things always sell more quickly in spring/early summer. I wish I had more suggestions. Good luck!

 

[Haven]

I'm going to say that it's likely that the price is what's doing you in.

As for people looking for fixer-uppers, I think that depends on the price point that you're in. We bought last summer and were looking at homes listed in the low 400s, and there was no way we were going to buy anything that wasn't move-in ready. I actually don't know anyone who bought a home recently and actually *wanted* a fixer-upper. Instead, everyone is looking for great deals on beautiful, well-cared for, move-in ready homes.

The other thing to remember is that (in our area, at least) there are SO MANY homes on the market. I've spent the last few weekends going to open houses because my mom and DH's dad will be moving soon, and we can't believe the amount of homes for sale. If you aren't pricing your place competitively, people are likely to think "Yea, it's nice, but we can get the same thing for a better price somewhere else."

I also second the staging idea. We have a friend who tried to sell her house for three months and had zero offers. She hired stagers and sold the place three days later.

Good luck!

 

[purrfectpear]

$4k here, $5k there, you are chasing the market DOWN and experiencing "death by a thousand cuts".

If you seriously want to sell ASAP and be done with open houses, looky-loos, making the bed and compulsive cleaning, then find the upper MID range of comps and go about 5% lower. Decor has nothing to do with it unless you have a starter home. Most savy home buyers are clear that they are buying the brick and mortar, not your furniture. You can hurt your sales with bad decor, but you are unlikely to justify above market because of good taste in decorating. People who take pictures are looking for decorating ideas, not home buyers. There are a slew of them that haunt open houses and model homes.

Keep in mind that some of the sold comps you are seeing may have made substantial seller concessions with closing costs which will NOT show up in the data.

 

[KimberlyH]

There are several good reasons listed as to why your house isn''t selling, but if your talking comparable lot and home size and your house is on the market for less than those selling than the issue could also be:

House floor plan
Decor (while it may be beautiful, many people are looking to start off with a blank space and unfortunately people are so odd about this. It certainly doesn''t always make sense but someone may not be able to envision their life in your home if it the style of the home is too specific. I hope what I''m trying to say makes sense.)
Nothing at all (we''ve been looking at homes for some time and there is one that I am in love with that is sitting, while homes in the same area that are similar are selling. There''s nothing wrong with the house at all, it''s just the one that isn''t getting chosen, and I hope it stays that way for a bit longer).

I will disagree with whomever stated that well priced homes sell right away; it may be true of very specific areas, but in general it is taking homes longer to sell, and has been for some time (my husband is in RE, he''s not an agent, but he follows the market obsessively). It is also very rare to sell a home through an open house. Most realtors do them at the request of the client, but people who are seriously out looking for homes usually do so with an agent. More neighbors and nosy people will show up at open houses than anyone else.

I wish you lots of luck.

 

[Tacori E-ring]

ANY house will sell for the right price. Just remember how much you pay (mortgage) each month you own the house. If it is worth it to wait out the storm go for it. If not drop the price. If you want to be out in 3 months and pay $2K a month, drop it $6K below the comps in your neighborhood. It doesn''t matter how long a house has been on the market (regarding your neighbor''s house). Buyers only use it to bargain. Remember, you are emotionally attached to your home but a savvy buyer is only interested in lot, layout, location and price. Everything else can be changed to fit their taste. Good luck!

 

[crystalheart1]

Date: 9/17/2009 5:52:16 PM
Author: KimberlyH
There are several good reasons listed as to why your house isn''t selling, but if your talking comparable lot and home size and your house is on the market for less than those selling than the issue could also be:

House floor plan
Decor (while it may be beautiful, many people are looking to start off with a blank space and unfortunately people are so odd about this. It certainly doesn''t always make sense but someone may not be able to envision their life in your home if it the style of the home is too specific. I hope what I''m trying to say makes sense.)
Nothing at all (we''ve been looking at homes for some time and there is one that I am in love with that is sitting, while homes in the same area that are similar are selling. There''s nothing wrong with the house at all, it''s just the one that isn''t getting chosen, and I hope it stays that way for a bit longer).

I will disagree with whomever stated that well priced homes sell right away; it may be true of very specific areas, but in general it is taking homes longer to sell, and has been for some time (my husband is in RE, he''s not an agent, but he follows the market obsessively). It is also very rare to sell a home through an open house. Most realtors do them at the request of the client, but people who are seriously out looking for homes usually do so with an agent. More neighbors and nosy people will show up at open houses than anyone else.

I wish you lots of luck.

Kimberly - I think you made some very valid and accurate points..as well as some of the other posts..Thank you
Our decor could be on the "specific" side... and by decor I refer to things that are staying.. lighting fixtures, tile in bathrooms,
very love love love it... or not my style.. or don''t like it all!! I realize that.
Our realtor did have a stager come in and move a few things around. We already did a lot .. and we can only do so much since we are in a townhouse. The table can only go there.. the dining room set can only fit this way..etc.

We did have a few people "stalking" our house..number of visits, drive by..
I don''t think I am going to do any more open houses... Women looking for their "sons" or just looking stages...

Well, I hope soon... Right now we are in the MID RANGE.. price wise. We have a few short sales, which I would not count.

Thanks again..

 

[MishB]

I really feel for you, we are in the middle of the selling process as well. We are selling at auction though, which is the usual method here in Melbourne Australia where we live. We''ve had a lot of positive feedback though, and already one good (but not good enough to accept) preauction offer, so we are hopeful we will get a satisfactory result.

I am soooo over the constant cleaning though, we''ve been living on takeout because I won''t let my husband in the kitchen, because we''ll only have to clean it again! And the living room too, we''re surviving on takeout eaten in the bedroom.

The good news is we bought a house today, we thought we might be outbid, but we came out on top and while we didn''t get a bargain, it''s a very fair price.

 

[lyra]

When I go to sell this house, I plan to tell the realtor a few things: no open houses, price it to sell quickly, and don''t bring me lowball offers at all. Perhaps not the best way to go, but there''s nothing I hate *more* than selling a house and being in limbo for months.

Pretty soon it''s going to be the slowest time of the year for sales, after Thanksgiving and around Christmas. I would cut the price to what I felt comfortable with, but not so low that it couldn''t be a little negotiable for buyers. It sounds as if you''re doing everything right with decor, which is a tricky area. Ask your realtor for direct feedback on what people don''t like, they should have this information. Good luck and hope you sell soon.

 

[Efe]

Could be an issue with pricing but it could also be an issue of timing? I would think that a lot of people with families would have wanted to be settled in already in time for the school year. Every time I sold, I put the house on the market in late March or early April with that thought in mind.

 

[Italiahaircolor]

In general, this is a tough market.

My parents are in a position where they are looking to sell their home. It's a really beautiful place....movie theater, putting green, home gym, private office, high end finishes, huge land, 4+ bedrooms...before the market collaspe the home was appraised at over 1 million, now it comes it at under 800k. It's a sad, sad thing. Even with the lower price...they can't move it. There is so much inventory and not enough buyers. Even buyers who are willing cannot always get approval, or have issues--like being unable to sell their own home. It's a huge catch 22.

I think if you're in a position to be aggresive, you're lucky. Moving your price down by an attention grabbing chunk, making concessions to potential buyers like down payment assistance or remodel credits...those things help. But in the end, you need to have the best house at the best price--and even then, it's a whole lot of luck.

I'm sending you tons of luck.

 

[crystalheart1]

Date: 9/20/2009 12:47:58 AM
Author: Italiahaircolor
In general, this is a tough market.

My parents are in a position where they are looking to sell their home. It''s a really beautiful place....movie theater, putting green, home gym, private office, high end finishes, huge land, 4+ bedrooms...before the market collaspe the home was appraised at over 1 million, now it comes it at under 800k. It''s a sad, sad thing. Even with the lower price...they can''t move it. There is so much inventory and not enough buyers. Even buyers who are willing cannot always get approval, or have issues--like being unable to sell their own home. It''s a huge catch 22.

I think if you''re in a position to be aggresive, you''re lucky. Moving your price down by an attention grabbing chunk, making concessions to potential buyers like down payment assistance or remodel credits...those things help. But in the end, you need to have the best house at the best price--and even then, it''s a whole lot of luck.

I''m sending you tons of luck.

Italia, Your parents House sounds Great! It is so difficult now... I wish my house was ready for the market in April.
We really aren''t getting that much traffic. I just lowered the price AGAIN... this is the lowest I would go. It is right in line with all the others.. plus I have a bit more in upgrades and extra square footage. Oh VEY...This constent cleaning.. and being afraid to cook anything too messy....

 

[Stone Hunter]

In our area people ARE looking for CHEAP fixer uppers. They want to buy, fix up and rent it out. Those people are turning in very low bids. With the tightening of mortgage lending, using only comps from last 3 months and needing 20% down...
many people really can''t qualify for the mortgage they''d like so they offer what they can qualify for.

Those are the 2 groups that sellers in my area are dealing with. Plus school has already started so fewer people are willing to move.

If your house is lovely and shows well then you just need the right number of people to see it to get an offer. Our Realtor told us 10 showings = 1 offer. And that was back when the market was HOT.

Sorry it''s just a tough market.

 

[crystalheart1]

Just wanted to come back to this thread and let you know MY HOUSE SOLD!!!!!!!!!!!!! It was only on the market 2.5 months and I got very close to my asking price. Thanks for all of your support and encouragement.

The women buying it ( I predicted it would be a women buyer, due to my decor ) LOVES my decorating and is very interested in buying some of my furniture and wall hangings.

I was pretty firm in my negotiating - since I heard how she thought my house was Just what she was looking for

 

[fieryred33143]

Congratulations

That is as exciting as getting married considering the current economy

 

[crystalheart1]

Yes... Thank you Fiery - Exciting but sad too.... I have been here since 1988 and brought my youngest son home from the hospital to this house.. Many Many Fond Memories.. but it is the family that makes a home.

I love my house,, but moving to my DH''s bigger home. It is crazy I am packing, and working on a Major Kitchen - Family room renovation at my new house at the same time.

 

[kama_s]

Congratulations, Crystalheart1! Wishing you years of wonderful memories in your new home

 

[janinegirly]

congrats and v. happy for you! Sounds like you did great!

any thoughts now on what worked/didn''t work?

 

[Mara]

we had a similar experience trying to sell our townhouse earlier this year. it's a beautiful place, the biggest unit in the complex, and there are only a handful of this model. it's in great condition, excellent really compared to some others, and only 5 years old. everyone who came to see it and every open house was filled with people who RAVED about it. a few thought it might be a little expensive (based on a foreclosure that was our only comp at the time on a much smaller AND trashed unit), but a bunch more said they thought it was priced well for what it was.

pretty much ALL feedback we got was positive. and our realtors are excellent... they are very good at what they do and they did open houses almost every weekend for about 3 months. online it got a ton of visits on the virtual tour as well every week.

but we couldn't get an offer. the realtors also told people who asked we weren't in a rush and we wouldn't just 'offload' it. so maybe that is why we never got any crazy low offers, we wouldn't even have considered them. in the end we just rented it for a year lease to a couple who LOVES it and loves living there, we are secretly hoping maybe they want to buy it next summer when their lease is up.

right now i feel like most people have a VERY clear picture of what they want. they are prepared to be picky. or if they love a place they want a super good 'deal'. lastly in terms of a house up for sale right now, the holidays are notoriously slow for RE so it might take a little longer to move it in the holiday or fall/winter season. also our place was not in the best schooling district which didn't matter for a couple with no kids...but that is a niche. so there are only maybe 2-3 groups that would be interested in our place.

oh the other thing that hurt us was that a lot of new home builders in the overall area had slashed their prices on similar offerings to ours (maybe smaller but brand new) so people who came to see ours would be like oh i love this BUT i can go over here and get a brand new place for $50k less even if it's a little smaller.

eta...um i am a dodo and didn't read the latest, i just saw the first post and thought it had just been posted. DOH. CONGRATS on selling! that is great...and i hear you re : bittersweet. when we bought our 2nd place this year it was really sad to move out of our first home together. it took me almost 9 months to feel like we made a good decision.

 

[Haven]

CONGRATULATIONS ON THE SALE, CRYSTALHEART!

I''m sorry I missed the update when you first posted it. That''s great news!
It sounds like you negotiated really well. I know it''s bittersweet to leave a home you''ve lived in for so long, but here''s to making wonderful new memories in your new home!

 

[crystalheart1]

Date: 10/28/2009 1:31:56 PM
Author: janinegirly
congrats and v. happy for you! Sounds like you did great!

any thoughts now on what worked/didn''t work?

Thank you everyone for the well wishes..

I know what worked.. my house was in perfect condition, I cleaned and preped like crazy, made the house smell nice.. and also decluttered. I replaced doors, and put a brand new oak stairs in.
Nothing at all on my kitchen counters, and a bare minimum out on end talbles..etc.

I knew it would be a matter of the right person coming along. I found out there were a few couples where the women loved the house but the man did not.. some said it was too "fancy" or taste specific.. But mostly all excellent ratings from realtors on how it showed.

Open houses DO NOT USUALLY WORK.. all Legitimate buyers usually arrange private showings through realtors.. I saw neighbors walking in..or people who did not want to spend the money. My agent was just average, never getting back to me with feed back..In fact she wanted me to give back a lot in seller concession but my buyer makes mega bucks... and I resisted. I knew she was in love with my house.. and was getting a fair price. My house appraised for the same and the highest as an end unit.. I recieved the best price in past year at my development..yay!