Profile picture for user9341876

My home is fully remodeled and we are asking way below what other similiar houses are going for. Why

  • October 06 2012 - Town of Manchester
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Answers (12)

Profile picture for user9341876

My home is fully remodeled meaning from paint to flooring to stainless steel top of the line appliances, furnace, water heater, roof, semi-finished basement (we did not enclose the beams), etc. Remodeled, inside and out. Curb appeal was done, plantings, maintained lawn, updated painting for outside of home, I mean, we've done just about everything other than the cupboards, bathroom vanities (which are still sold today) and tops (which are also a viable option being sold today).
I have done everything my realtor has suggested.
We have had foreclosures in the area (unfortunately).....
We are backed by State land and are on a dead end road. We have seasonal mountain views and privacy from the neighbors and the home is located on a corner lot.
Very neutral colors, no odors.
Our home is very, very clean and clutter free, no personal pictures and minimal furniture. We are even offering to leave furniture in the home, beds, couches, chairs and dressers.
Still baffled, still haven't sold........
Selling in the low $200,000

Thank you to everyone that was trying to be helpful. Really appreciated the suggestions and comments.

  • July 13 2014
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Adjacent to toxic waste dump site?
  • December 11 2012
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In all things regarding SALES, price is #1 factor. If you home is truly under priced for your area then you would have SOLD your home immediately and may even have gotten multiple offers, which potentially would have gotten you more than list price. Based on your question I get the idea you feel you should price your home higher even though you haven't even gotten an offer at your "too low" price? As I tell sellers, there are listers and there are seller's. Do you want to list your house or do you want to sell your house? I can put my home on the market for any price, but that doesn't mean it's going to sell at that price. So look at recently SOLD comparable homes to get a definitive idea of what your values are. If you home is priced TOO low it will get lots of traffic and offers, so unless that is happening, you are not priced too low. Investors are investors and if they see a deal, then they buy a deal.

  • December 04 2012
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Real estate is extremely regional, so not knowing where the house is located, it is tough to be definitive.  However, if you were asking that question about a home in the Stowe /  Lamoille County area, I would suggest we look at relevant recent sales and determine where they are selling in relation to their town assessment, in combination with a study of sale prices per square foot and the amount of acreage.  Additionally, there could be a need to stage the interior, or address the curb appeal - 50% of buyers make their decision to buy a home (or not) when they drive in the driveway, although this decision can be swayed once they enter the home...
  • November 29 2012
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Very deep......

  • October 07 2012
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OK - I'm assuming you want to know why your house isn't selling when priced lower than other homes in your neighborhood -

1. It could be the market. You neighborhood or town may not be selling well due to the economy.
2. It may be the way your home is landscaped. No weeds in the yard, freshly painted & clean, flowers, nice presentation (front & back yards), no clutter on the porch or around the yard?
3. Is your home neutral and not real personal. No bright colors (dark pink, primary green or blue, etc.). 
4. Is your home clutter free - sparse furniture, not a lot of ceramics, personal pictures, no toys or clothes on the floor, kitchen counters clean except for a couple of appliances like a coffeepot and toaster?
5. Does your home smell good, like the faint aroma of flowers or cookies? 
6. Do you have indoor pets (cat boxes, birdcages that need cleaning, etc. are a turnoff to buyers)?
7. Despite what the neighbors have their homes listed for, what have homes similar to yours sold for?
Have a couple agents come and give you a honest opinion of presentation and market value. You may not like what you hear, but it may help get your home sold.
  • October 07 2012
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Profile picture for SoCal Engr
Your question was truncated, so there are two things that need to be expanded on...

#1 - What do you mean by "fully remodeled"? Possibly a "duh" question, but I've seen "fully remodeled" used to describe a wide variety of efforts, including just paint & carpet.

#2 - The "why..." can be inferred, but it'd be nice to verify what you are asking.
  • October 07 2012
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I'm going to guess the "why" in your question is Why isn't my house selling?

Price is only one part of the equation. Jim gave you some very solid things to consider about your specific market.

Not being as intimately in touch with your market I'm going to point to presentation.  Consider that more than 80% of buyers view homes for the first time on the internet. 

Your photo layout is critical.  One picture is worth a thousand words.  What are yours saying?  Take a look at the layout being used by your Realtor.  Realtors including myself are not great photographers.  Lighting, angle and focus can distort the results.  I use a professional photographer to get the best results.

Other sites only allow 4 photos of the home unless the agent pays for enhanced listings.  Make sure the first 4 photos are front, kitchen, master bath and family room. Those are the rooms buyers are most interested in.

Then take a good look around for Color-Clutter-Collections-Curb appeal.

No unusual colors - stay with earth tones.  No clutter which includes too much furniture in a room. Keep kitchen counters clear of everything.  Put the toaster away after you use it.  Take away canister sets, can openers and anything not immediately needed. By all means, get rid of the refrigerator magnets - they are so distracting in photos.  Minimize furniture for a more open feel. No collections of memorabilia, statuary, or walls of family photos. If it does not have an immediate use other than looking at it, pack it away. No high grass, over grown bushes, weeds in the mulch.  No toys or stray garbage cans in the yard. If your landscaping is dull this is a great time to buy two big pots of colorful mums for either side of the entrance.
  • October 07 2012
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Asking price or listing price has no bearing on final market price -- what someone will actually will pay for it.  It sounds like your agent has a grasp on your local market, and knows what it takes to get homes sold.  Those things, combined with your motivation will get your home sold before the other overpriced competition!
  • October 06 2012
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Profile picture for JimVT
There can be any number of reasons why you would list lower than the current market.
1. The Manchester market is a little slow right now.
2. Tourism in that area has not fully rebounded from the devastation of Irene last year leading to employment and economic concerns in the area.
3. If you are up against 2nd homes, then you may be competing against other Sellers that want what they want and will not reduce their price.
4. There has been quite a bit of new construction and rehabbing going on that may have increased the number of competing listings for your home while decreasing demand and pricing.
5. Depending on the area, your home may be an over improvement for the neighborhood and while you may compare your home with some of the homes on the hill, you may not have the location to back it up.
6. Even in the Manchester market, there have been some area foreclosures that could have depressed the market a bit.

I think that you need to have this conversation with your real estate agent. It has been my experience that the Buyers wandered away from the market during the extremely hot summer and are just now starting to poke their heads out. Unfortunately, there are less now than there were in March through May and their price point seems to have declined a bit as well. Without knowing the particulars of your home and your situation, that is the best general information I can give you.

Best of luck!
Jim Bellville
  • October 06 2012
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Profile picture for wetdawgs
It appears your question was cut short after the "why...".   If you care to expand, please click on "post reply" and add more detail.
  • October 06 2012
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Profile picture for Outer Banks N C
Going for and sold for are two polar opposites sometimes. You can ask the moon and stars, but unless it sells it means nothing. You are asking us why you are asking way below some amount, didn't you decide to do it? It is your decision what to list your house for, an agent can just suggest their opinions and suggestions. You should be asking them, or do you not have an agent advising you?

Tim
  • October 06 2012
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