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We have staged our home for a year and we are priced right and still can sell!

ltalesch
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ltalesch

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We have staged our home for a year and we are priced right and still can't sell! Help!

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July 31 - Colorado Springs

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Gilda Baxter, "buying selling homes"
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Gilda Baxter, "buying selling homes"

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Hello Italesch;
Have you had your agent do another CMA? The home prices may have lowered between listing your home and now. A lot of people have been following the market on their listings downward. The problem is --you need to be ahead of the market.

Have you had any showings on the home? Listen to the feed back from other Realtors. That's really important also.
It's hard to believe that your home didn't sell if it was priced correct.
It's going to help with the first time buyer's credit also.
Don't forget the credit due to you if you buy another home. (If you've lived in this home 5 years in a row within the last 8 years)
Let me know if you need any help.

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November 09

Connie Wildasinn, "pwildcon"
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Connie Wildasinn, "pwildcon"

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then you are not priced right... sorry that is the fact!

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October 31

Sam Shueh, "Sam Shueh"
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Sam Shueh, "Sam Shueh"

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Parameters SELLERS have control:
-condition, $
-innovative ideas
-pay premium fee to attract buyer agents

Parameters Realtor has control
-marketing, advertising, due diligence

These are things few have control
-Location, market condition.

So you have put some furniture for prospects to envision what the house
will look at. How many groups of people have viewed and what corrective actions the sellers have taken to make it more attractive?

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September 02

Sandra Patti, "sandrapatti"
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Sandra Patti, "sandrapatti"

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It always comes down to price, but there are other factors that can prevent a home from selling like an undesirable location, wet basements and even things like smoking, cooking or pet odors, electrical stantions, etc. Even homes with undesirable locations eventually sell when the price is right. What has the feedback been from the Realtors/Buyers that have looked at the house? I would listen to what they say and try to address as many or all of the objections as possible. Also, some markets are very depressed right now and a sale depends on how much inventory is available. If the market is not glutted with inventory and your home is priced right and clean as a whistle and not impacted with some of the problems mentioned above it should sell. If listed in the MLS, bring it out as a new listing and tweak the price.

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September 02

Search CO Homes FREE
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Search CO Homes FREE

Denver, CO

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I can't explain why a properly priced house is not selling, except that in Colorado buyers are anxiously awaiting a proposed local incentive for purchasing homes that will match government tax credits. I have many showings on my listed houses that are in theory priced to move, but the feedback from buyers has recently (in the past month) been that they are waiting to see what is going to happen in the next few months. This can not explain a year on the market though.

Caveat Emptor, How am I doing? No spam here.

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August 31

Roberto Ribas, "azrob"
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Roberto Ribas, "azrob"

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if it was well priced it would have sold.

Some mls's keep cumulative days on market, so trying to make it appear new won't work in that case.

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August 31

Isabelle Jelinski, "Isabelle Jelinski"
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Isabelle Jelinski, "Isabelle Jelinski"

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I understand your frustration and sympathise with you. If you've listed with a REALTOR (the wise thing to do), you might consider this, if you can afford the wait; take the house off the market for a few months. Drastic I know, but houses on the market that long can grow stale and almost stigmatized. Everyone wants to know " Why hasn't it sold"? So even a well priced home looses an advantage. If your situation makes it harder to wait, than (and I raise my shields as I write) perhaps you should change listing offices. Not that your current agent isn't wonderful, but a new office with different agents could give you a renewed exposure to the market. I wish you all the best. -Isabelle

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August 31

The Xpert Team Sells
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The Xpert Team Sells

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Hire a realtor if you have not, and if you want your house sold, consider a serious price improvement or commission incentive to entice showings

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August 26

Gilda Baxter, "buying selling homes"
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Gilda Baxter, "buying selling homes"

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Wow--a year. I suggest you do another CMA to make sure you're still in line with the market. That had to be tough to be on the market for 1 year and not get an offer.
What about the marketing? Is it on the internet at popular sites. Are there multiple pictures on the MLS. What about a visual tour? Over 80% of Buyers now-a-days start their search on-line. What about the location? You may want to look at the other homes for sale in your neighborhood. Ask your realtor to make the appointments to look at the other homes in your neighborhood.
Hope this helps.

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August 11

NTETS, "Caveat Emptor"
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NTETS, "Caveat Emptor"

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give us pics and an address, generally most markets are "thaw" at the moment so some homes are selling, which means that any homes not selling are selling for a reason. the basic definition of "priced right" is priced at a level that will sell... if your home is staged properly, decluttered, marketed well (find out everything your agent has done in terms of marketing) then all you can do is cut prices or wait...

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August 02

Nancy Lee, "An OrderLee Home"
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Nancy Lee, "An OrderLee Home"

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Wow! Lots of really great advice here. Italesch, just reading and acting on these replies might be enough to get you back on track.

If not, can you (a) post photos including the front exterior, living room, kitchen, master bedroom, bathrooms; (b) tell us if you are getting traffic, and what feedback you have received; (c) tell us if you have gotten offers and how they compared to your asking price; (d) share what your agent has said about the situation? All of that might help target the central issues.

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August 02

Michael Russell, "real estate mike"
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Michael Russell, "real estate mike"

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What does you and/or your agents marketing consist of? Location and price make the first cuts on the buyers list; but then you have to get them to your house. Lets assume you have had many showings, then you need feedback on what potential buyer though about your home. Have your realtor show you detailed descriptions of houses that have recently sold in your neighborhood and see how your stacks up on amenities, pics and presentation. best of luck

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July 31

Mike Hancock, "MoyeRealty"
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Mike Hancock, "MoyeRealty"

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You've already had a lot of good advice here, Liz made a good point on the staging end and Sunnyview did as well with saying you should find out what the people who have seen your home are saying about it. I always sign my sellers up for email alerts so each time their home is shown they get to see the same feedback that I see from the showing agent. This is the best way to not spend money in the wrong place, for example if 8 out of 10 people didn't like the carpets, you know you need to offer a carpet allowance, not change the wall color. Also if your realtor has not told you where they are advertising your home see if YOU can find it. (online, in local paper or books) If you don't see it everywhere talk to your realtor, that may be your problem. Best of luck to you.

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July 31

sunnyview
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I think you may need to get a new CMA to see how the houses that are selling compare to yours. You also need to look at your house with fresh eyes and see if you can get any feedback from buyers/agents about what they have said about your house. Sometimes a house can be priced close to right, but have a fatal flaw that turns buyers off. For example, buyer in my area want a yard, but if your house doesn't have a yard they will still buy if the price is right if you give them a place to sit and BBQ (small patio) and a place to grow a few garden plants(raised beds). Houses without these things do not sell here where I am period unless they are priced under the market. A couple cedar boxes and a bistro table and $50 Weber BBQ can sell a house that the market deems unsellable without them.

Look at your house honestly, get a fresh CMA to spot trends in your market and then you can decide if pulling the house off the market for 2 week to a month and then re-listing might help show your house to a new group of buyers.

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July 31

agentblu15
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agentblu15

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Another question to consider-- where is the process breaking down?

-if you're not seeing much traffic through the property (people viewing it), it may be a sign that you or your agent's marketing strategy isn't working, or that the home isn't priced competitively for the buyers you're looking for (this could mean too high OR too low, as either extreme will limit the number of people that "find" your home while searching).

-if you're getting a lot of traffic through the property (people viewing it) and just not seeing offers, that could mean they don't like what they see, or the price is too high.

-if you've gotten some offers and just haven't been able to close the deal, it may mean that you aren't being flexible enough with negotiations.

-if you've actually gotten to the acceptance phase and a home inspection has killed the deal, it may bea sign that there's a major problem that needs addressed.

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July 31

Liz Harrison, "Spruce It Up!"
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Liz Harrison, "Spruce It Up!"

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You're hearing a lot about the possibility that the house may not be priced right and reminders that if you're in a high end home, it takes much longer to sell. But I have questions regarding the staging. Was the staging done by a professional? There will be a huge difference in the quality of the staging and the end result if you consulted with an experienced home stager. Are there things that need updating? Priced right or not, most buyers can't see beyond dated fixtures and countertops, 1980's colors, worn carpeting/flooring and older appliances. It may be well worth calling someone else in. Current statistics show that professionally staged homes are selling in an average of about 30 days. Good Luck!

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July 31

Michele Rose, "Michele Rose"
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Michele Rose, "Michele Rose"

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Hi Italesch,

Any house will sell if it's priced right! Higher end homes do take longer but if yours is not in that category, you should not be having a hard time selling.
Staging will help you pull ahead of the competition but it usually does not allow you to price your house much higher unless you have done extensive renovations along with the staging, making your home more valuable.
Have you hired a good real estate agent? Is your home being marketed to its fullest? Is your house easy to find on the internet and do your pictures look fantastic? Are you getting any showings and if you are, what has been the feedback?
These are all things to consider but ultimately it always comes down to price. Right now, as hard as it is to hear, the buyers are saying they are not going to buy your house for that price. And the buyers are the ones who will determine what is sells for. If you have done all that you can to ensure your house shows well, then you need to look at the marketing and the price.

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July 31

Eric142
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Eric142

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Not to be mean, but if you have been on the market a year and haven't sold you are not 'priced right'. Not selling for that long is the market's way of telling you that you are asking too much. The only exception to what I say would be if you were in a really high end ($1 Million) which typically takes more time to sell because there are so few people who can afford such houses.

What do the comps (sold, not asking) over the past few (3-6) months show for prices, and how does your house compare?

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July 31

rockinblu
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rockinblu

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Italesch,

The blog attached to the link below may be of some interest to you. While it's directed mainly to FSBOs, even if you are represented there are some ideas in it that you could use to supplement your agents's marketing efforts. If you are represented,and decide you would like to do some additional maketing on your own, always check with your agent first and use him/her for the contact person. Unfortunately though, it's generally all about price, when your on the market that long and still haven't sold.

http://rockinblu-rockinblu.blogspot.com/2009/02/thinking-about-doing-fsbo.html

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July 31

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We have staged our home for a year and we are priced right and still can sell!

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