Profile picture for MBattista911

Haven't been able to sell. Do we sit tight until spring, refinance, rent it, lower price, etc? Help!

  • October 11 2011 - South Dorchester
  • 1
    1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (13)

There could be many reasons why your house is not selling. Boston is currently going through a major up swing. If your still not able to sell, it tells me that your probably over priced and the market is not supporting your asking price. If you hold out and rent it out on a short term 6 to 8 month lease or a "tenant at well", you will be taking a chance. You could miss this upturn or you could get lucky and get your asking price. Again, a lot of this weighs heavily on your specific situation, which I am not privy to. 

I hope this helps. Good luck!!!
  • November 16 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

At the cost of repetition, you need to spell out the reasons for the house remaining unsold for the Zillowers to help you. Is there some issue with the general locality, are you trying to sell it yourself, is the asking price too high, what is the comparable fair value, what would you really want to do- sell or lease. They are two totally different options and not inter-changeable. Customers are available in all seasons and the prices are slightly better now, so it is upto you to assess and take a call.
  • November 16 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

I would try a price reduction if you could swing it, and then consider waiting for spring.
  • November 12 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

If the goal is to sell, then I would not recommend renting or refinancing.

Renting is just a temporary stop-gap solution... and potentially not a good one given the many risks involved (vacancy, tenant damages, etc.).  Refinancing can pay off in the long-term, but it is not a great short-term solution as there are so many upfront costs involved.

The key question is:  "Why hasn't your home sold?"  You (and/or your Agent) need to look at true "fair market value".  To that end:  Have you reviewed comparable sales in the area?  Have you looked at your competition -- other homes available?

Re: winter or spring:  There are buyers at all times of the year.  In many areas, there are frequently more in the spring/summer, but there is also more housing inventory (...competition...) for them to choose from.

Good luck!



  • November 12 2013
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Are you priced in line with the comps that have recently sold?  The solds, not the asking prices.   If not, a price reduction is in order.   Do you want to become a landlord because that is what will happen if you rent it.  If the stove breaks, they will call you.  Some people are ok with this; some are not.

Without knowing your specific situation it is hard to give a definite answer.  I would ask my agent their opinion.

Best of luck to you!
  • February 19 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Go with your gut instincts!  Look at all your options - decide what best for u and your family.   Fal - [website deleted by Zillow moderator]
  • February 18 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Identify the reasons that your home has not sold...review the feedback from the potential Buyers/Realtors that have viewed your property. Generally speaking, when a home does not sell, it's overpriced and/or not in move-in or updated condition. Your listing brokerage/realtor should be able to help you with this decision as they are more aware of the specific dynamics of your local community/city. Best Wishes!
  • February 17 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

This is tough to answer without knowing both your financial and personal living goals.  However, there are several points to consider in the current market to help you with your decision:

1)  residential real estate prices aren't going up anytime soon (see PulseNomics/Zillow expectations survey which doesn't see positive growth until 2013
2)  rents in Boston are at record levels with a 9.3% increase in 2011 over last year
3)  vacancy in Boston at a rate of 4.3 percent was the second lowest in the country last year behind only new York
4)  mortgage rates are still incredibly low

These signs point to a decision of refinancing (with potential cash out), renting the property and buying another property.  Contact me and we can run the numbers on some scenarios.  Good luck.

  • February 17 2012
  • 2Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

I would strongly suggest speaking with a financial advisor. They will be able to help you map out long term goals for how effective selling or renting your home will be for you.

Selling a home is usually due to a need to move, a desire to make money or the need to lower your financial outgo.

Your final decision will be made by answering questions relative to:
1. Why are you wanting to sell?
2. What are you hoping to accomplish by selling?
3. Will your current local rental prices support your current home mortgage?
4. Where will you live?

Deciding to sell your home is never an easy decision. However, when you surround yourself with people that are able to help you make positive decisions, then it can be much more effective.  Again, I would strongly suggest you speaking with your financial advisor, local Realtor and/or legal advisor.
  • November 29 2011
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Think carefully about what your goals are for selling.

When a house hasn't sold, it is important to ask yourself these questions:
1. Is there any sold or underagreement activity in my price range at all?
2. If so, how do you compare to those that have been successful?
3.Are you getting showings, second showings and any offers?
4 Have you really listened to your Realtor who is giving you good professional advice or are you trying to sell them on why things are the way they are and how good your house is?
5. Have you critically looked at the condition of your house relative to what buyers in your town are looking for and expect. Some sellers kid themselves when they say they don't want to make changes because they might make a wrong choice. Your agent can give you good advice about appropriate selections. (I even go with my seller and make the selections for them when updates are called for).

In my experience, waiting for a market cycle that will be "different" or renting the property to buy time has not produced better results for any seller I have represented. Good luck and we can connect to talk more.
  • October 13 2011
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for SoCal Engr
What is your goal/objective?

Refinance/rent are "hold" options, indicating you don't need/want to sell the house, just see some improved cash flow.

"Wait until spring"/"lower price" are "sell" options, indicating you need/want to sell the property and use the proceeds for something else.

So, what are you trying to do?
  • October 11 2011
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

@ South Dorchester,
Interest rates are extremely low right now - so think twice before you take your home off the market.   Firstly, are you actually listed on the market with a Realtor?  If not, perhaps this is the best time to contact two local experts to hear what they have to say.  The second question I have for you is what condition is your home in and how are you presenting it?  Sellers often have a difficult time understanding that their home is actually a commodity for sale and needs to be de-personalized, neutralized, de-cluttered and presented properly for the buying public.  Minor changes can go a long way and make THE difference.  Regarding price:  Are you being realistic with the market in your area OR are you focusing on what you "need to get out of the house"?   If you want to make certain you have your home priced correctly, make certain that you have the specific "sold" prices for homes recently sold as well as the sold price of any under-contract homes.  Your home should be priced according to those prices and not simply on what price you need OR other actively available homes.  A good rule of thumb:  A home will sell ONLY when the price is within 5% of what a buyer believes the value is.   If you are in a declining market, price your home below "solds" from a few months ago.  Pair this pricing information with proper condition and presentation and your home will sell.  Good luck!

  • October 11 2011
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Well I would look closely at your market. Are homes moving there? If so are they discounted? How much time does it take from listing to closing there? Are you currently living in the home or is it vacant? Are you paying a mortgage or is it paid in full? These are some of the questions you need to answer first. I will tell you this that homes are selling and they sell during the winter. Certain markets will slow down though. For instance the northern part of the country with all the snow they get makes selling a home harder. The rental market is moving but you really need to see what you can rent it for there. I would get with a Realtor there to assst. They are the specialist and they know the region better than anyone. Look to your local Realtor or Real Estate Company for some good advise. It's free and available to you. Thank you for your question.
  • October 11 2011
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.