Profile picture for pinksandbaby

Pricing question

We're priced just below where we should be in this market in hopes of drawing a buyer. When our price was higher we got an offer higher than our listing price now. Are people just not willing to make decent offers anymore?

Do we raise the price (dare I say that!?) to get a decent offer? Or just sit tight? It's really confusing!
  • August 13 2007 - US
  • 0
    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.

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

Answers (25)

Pinks why didnt you take that first offer?
  • August 13 2007
  • 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.

Profile picture for Winifred
I was wondering the same thing.
  • August 13 2007
  • 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.

Profile picture for bondwoman
Sometimes the first offer is the best one you are going to get but because it comes so soon you think.....well, maybe I made a mistake. Don't make another one by raising the price. This isn't the market for that.
  • August 13 2007
  • 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.

Profile picture for pinksandbaby
We DID accept the first offer! They backed out at the last minute due to a job relocation! Stunk!

Bondwoman, "Your first offer is your best offer" to ME is a cliche and not a way to do business. It so happened our first offer was acceptable to us, the timing to close was good, etc etc. It just didn't pan out.

I can't live by cliches. Hopefully our NEXT offer will be our best offer :o)

If your advice is not to raise the price, fine. I don't think we should either. BUT, what do I do to get people who can afford our asking price to be the ones who shop it?
  • August 13 2007
  • 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.

Profile picture for WORKisa4letterword
Pinksandbaby- I was just wondering how long has your home been on the market?
Btw, you have a very nice home!
  • August 13 2007
  • 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.

Profile picture for pinksandbaby
Thanks! We put it on mid-Feb and had our first offer within the week. Totally stinks it fell through, but we have to live in the present, right?!

GL to you too!
  • August 13 2007
  • 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.

Profile picture for robin398
I think you should raise the price.
  • August 13 2007
  • 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.

Profile picture for WORKisa4letterword
pinksandbaby- =) Wow one week is great! sorry to hear it fell out. Yes i agree, we can't change the past, unfortunately. I wish you the best of luck!
  • August 13 2007
  • 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.

Pink, I agree with Robin!
  • August 13 2007
  • 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.

Profile picture for pinksandbaby
Really Robin? Won't it just look ridiculous at this point to raise it?! How do I explain that to people, seriously?

What price do you suggest (not seeing it in person of couse!)
  • August 13 2007
  • 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.

Profile picture for pinksandbaby
AND how does having a lower price *hurt* our chances at selling????!
  • August 13 2007
  • 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.

Profile picture for WORKisa4letterword
pinksandbaby- are you able to take it off the market for a little while? Then put it up with a new higher price to match the neighborhood? Its funny I once worked at a dealership and they would have these "fabulous" sales trips to Vegas etc. but the trips or gifts were within the price of the vehicle being sold. soo.... sale?
not really, did the person buying the vehicle think they're getting a great deal? =) what do you think? *wink*
  • August 13 2007
  • 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.

Profile picture for WORKisa4letterword
Basically if you raised the price and get an offer lower than the new asking price you can accept it, because your asking price is actually the offer they just put in and everyone is happy.
  • August 13 2007
  • 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.

Profile picture for pinksandbaby
I GET that, but I don't get it, know what I mean? Maybe at this price we're attracting the wrong buyers?

I know everyone loves a sale, but a $100,000 SALE? That's just batty! I would never bid less than $10,000 under asking.
  • August 13 2007
  • 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.

Profile picture for robin398
Property values are raised frequently. Sometimes it is done to test the market to get a response from potential buyers who are interested.
  • August 13 2007
  • 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.

Profile picture for WORKisa4letterword
Lol no, not that yah thats insane! I would never accept that. I'm saying you can attract the right buyers and its the illusion of a sale or discount.
  • August 13 2007
  • 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.

Profile picture for pinksandbaby
So you really feel it would benefit us to raise the price? The best offer we got was when we were priced at $549,000. I would just think the lower price would make it MORE attractive, not LESS!
  • August 13 2007
  • 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.

Profile picture for WORKisa4letterword
But maybe potential buyers think the home priced the lowest may not be equal to the others in the neighborhood. I don't really know.

I will tell you this..... when I was house hunting I had some bad experiences. I had to change agents a few times and the homes I was taken to look at, well... they were just not what I wanted. Anyways I found a great agent and there was a few homes I found on MLS that I wanted to check out and my agent had some homes he wanted me to see. That day we must have looked at 8 or 9 homes. Then we pulled up to my home now. It was half built he showed me the paper he printed from MLS, I've seen this listed on MLS but never asked about it since it was unfinished. I asked him why did he take me here, I cant afford to buy this home with it in an unfinished state. The home was priced at least 50k lower then the rest of the homes we were looking at. Come to find out the contractor would be completing the home, but the way it was worded it looked like it was an unfinished home.

I had seen it for at least 6mos on MLS. I never paid any attention to it because the price was low, pictures were of an unfinished home and wording was confusing. It was priced so low you just assumed that it was being sold as unfinished. And the other agents never brought this home to my attention.
  • August 13 2007
  • 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.

Profile picture for pinksandbaby
That sitch I can understand, but this is clearly NOT that kind of house! The only other homes for sale in our direct neighborhood are all over $575,000+ but are more traditional layouts and have MUCH higher taxes! We thought being a bargain was GOOD!
  • August 13 2007
  • 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.

no thinking allowed Pink!!
  • August 13 2007
  • 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.

Profile picture for WORKisa4letterword
But maybe people are looking at the price thinking "whats wrong with it?" and interest in the home could stop there. Your home is beautiful, I cant see any reason why the home would not peak interest. Something must be turning away potential buyers other than the home itself.

like in my situation the agents I had prior- never brought this home to my attention. Why not?-
  • August 13 2007
  • 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.

Profile picture for WORKisa4letterword
=) well pinks need to run away for a while. I feel for you I know it must be hard. keep your head up and fingers crossed. Crossing fingers for you.
  • August 13 2007
  • 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.

Profile picture for pinksandbaby
so you would NOT buy a house that you thought was TOO inexpensive even if you loved it, the area, etc?

I don't get that mentality!

Our friends are frugal (cheap! lol) but have tons o'money. They had a million dollar budget (roughly) and bought a house for $825,000 because they loved the area and the property. They have since taken the balance + and remodeled it top to bottom (actually added a second story to the top)

We could be seen as that
  • August 13 2007
  • 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.

yes, you could, but more importantly you have a house that is in move in condition, it doesn't necessarily need to be remodeled, so the first time buyers or people who don't want to do remodeling will love your house!
  • August 13 2007
  • 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.

Profile picture for WORKisa4letterword
Pink- =) Not sure that we are on the same page anymore.


You said, "so you would NOT buy a house that you thought was TOO inexpensive even if you loved it, the area, etc?"

=) never said that and of course I would in a heartbeat!

I was trying to say while I was house hunting I had a total of 4 agents which all had the same inventory of homes for sale. Only one agent mentioned this particular home.

So possibly- not all buyers are aware of your home especially if they completely rely on their agents to find homes for sale.
or
Some people follow the rule, "If its too good to be true, it probably is" and may pass up an awesome opportunity like the one you are presenting.
  • August 13 2007
  • 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.