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Answers (13)
- Debra (Debbie) Rose, "Livingston NJ"
- Contributions:2736
Hi again!
I did look at your listing, and I think your home looks lovely, and the curb appeal is just fine! I do think, however, that some of the photos need to be reshot, as they are dark and do nothing to enhance the rooms. Looks like you have a nice, open floorplan - that's a positive, but with your darker furniture and lack of light in the rooms, it's hard to appreciate the open flow. Show more closeups of the kitchen, too. You could also lose the laundry room pic, as showing a washer and dryer isn't an enhancement.
It says the home was built in 2001, so you have a fairly new home - also a good feature.
Now...........The shot of the backyard is wonderful - it really looks inviting. - Play that up a bit more, I suspect with the small dimensions of the lot, that much of what appears to be "your' backyard may not be, but...........the view is great - add a few more shots of thr back from different angles. Try a a wider lens for the bathroom shots, too.
Ok..so now the bad news - I definitiely think (based on the limited information of your area and competing homes) that the only reason you haven't had showings (unless the market in your area it totally dead inte water) is because your price has scared agents and their buyers away.
As Dan mentioned, very few areas wiare generating an appreciation in price after only 4 years. That's the sad, but honest truth.
You have a lovely home............it should have showings.
I hope you won't be upside down on your mortgage with the numbers below, but................more than likely, you'd benefit from at reduction to at least 209,000.....ultimately, 199,000 might be the number that brings in the buyers and offers.
You really need to ask your agent about this.
Also ask your agent for "absorption rates"- which means how fast the other homes have been selling. Ask what the inventory of listed homes is........this will tell you what you are up against.....also ask what are the average DAYS ON MARKET for homes that have sold
.
None of this is easy to accept - I understand this, but reality is what it is........and if you want to sell, you need to deal with reality.
Best wishes, and I hope this helped.
Please let us know what happens!
I did look at your listing, and I think your home looks lovely, and the curb appeal is just fine! I do think, however, that some of the photos need to be reshot, as they are dark and do nothing to enhance the rooms. Looks like you have a nice, open floorplan - that's a positive, but with your darker furniture and lack of light in the rooms, it's hard to appreciate the open flow. Show more closeups of the kitchen, too. You could also lose the laundry room pic, as showing a washer and dryer isn't an enhancement.
It says the home was built in 2001, so you have a fairly new home - also a good feature.
Now...........The shot of the backyard is wonderful - it really looks inviting. - Play that up a bit more, I suspect with the small dimensions of the lot, that much of what appears to be "your' backyard may not be, but...........the view is great - add a few more shots of thr back from different angles. Try a a wider lens for the bathroom shots, too.
Ok..so now the bad news - I definitiely think (based on the limited information of your area and competing homes) that the only reason you haven't had showings (unless the market in your area it totally dead inte water) is because your price has scared agents and their buyers away.
As Dan mentioned, very few areas wiare generating an appreciation in price after only 4 years. That's the sad, but honest truth.
You have a lovely home............it should have showings.
I hope you won't be upside down on your mortgage with the numbers below, but................more than likely, you'd benefit from at reduction to at least 209,000.....ultimately, 199,000 might be the number that brings in the buyers and offers.
You really need to ask your agent about this.
Also ask your agent for "absorption rates"- which means how fast the other homes have been selling. Ask what the inventory of listed homes is........this will tell you what you are up against.....also ask what are the average DAYS ON MARKET for homes that have sold
.
None of this is easy to accept - I understand this, but reality is what it is........and if you want to sell, you need to deal with reality.
Best wishes, and I hope this helped.
Please let us know what happens!
- Victor Gurrola, "Victor T. Gurrola"
- Contributions:1190
They say Location,Location,location but its really Price, Price, Price.
- Roberta Murphy, "CarlsbadBroker"
- Contributions:35
All good suggestions--including competitive pricing. You might also call in a home stager to help with photographic presentation and to encourage buyer and broker "WOW." Also, have you had a broker's open to encourage other Realtors to come through your home?
These are tough times for home sellers. Pricing and property condition are the two key element buyers are evaluating. Be a winner in both categories!
These are tough times for home sellers. Pricing and property condition are the two key element buyers are evaluating. Be a winner in both categories!
- Debra (Debbie) Rose, "Livingston NJ"
- Contributions:2736
Price trumps everything in today's market - buyers want and need to see value.
That being said - ask your agent if ANY homes have gone under contract in your area in the past 30 days.
That's an important question.
If the answer is "no" - then your situation may just be a function of the current (slow) market conditions in your area.
if the answer is "yes", then have a long sit down chat with your agent - and ask for an HONEST opinion on what it will take to get things moving.
If other homes are moving, and yours isn't - sorry to say , but it comes back to price.
Make your home stand out from the competition, so that you can "capture" the next buyer who is passing by..
Oh, and don't count on an open house to sell your home - statistically, thats not where most buyers come from. I hope you're on the MLS..... as well as any, and all, internet sites out there.
Make sure your agent keeps you on top of what is happening in your market.
Good luck!
That being said - ask your agent if ANY homes have gone under contract in your area in the past 30 days.
That's an important question.
If the answer is "no" - then your situation may just be a function of the current (slow) market conditions in your area.
if the answer is "yes", then have a long sit down chat with your agent - and ask for an HONEST opinion on what it will take to get things moving.
If other homes are moving, and yours isn't - sorry to say , but it comes back to price.
Make your home stand out from the competition, so that you can "capture" the next buyer who is passing by..
Oh, and don't count on an open house to sell your home - statistically, thats not where most buyers come from. I hope you're on the MLS..... as well as any, and all, internet sites out there.
Make sure your agent keeps you on top of what is happening in your market.
Good luck!
- sunnyview
- Contributions:25139
I hate to pry, but did you interview more than one agent? And if so, were the listing prices that you got initially fairly close together?
- rockinblu
- Contributions:7202
Hi a.
Someone on this thread is reading comprehension challenged.
Before you think it's me, I know you're not doing a FSBO, even though the link at the bottom is to FSBO info.
As far as "Why," I think sunnyview and Dan have given real good answers, which probably includes excellent advice.
As far as my advice goes as sunnyview and Dan have covered the most important things, since you don't mind being proactive I'm posting the link below. This in hopes that you might find some marketing ideas in it to supplement your agent's efforts. Please check with your agent before implementing anything from the blog on your own, and always use the agent as the contact person. Good luck.
http://rockinblu-rockinblu.blogspot.com/2009/02/thinking-about-doing-fsbo.html
Someone on this thread is reading comprehension challenged.
Before you think it's me, I know you're not doing a FSBO, even though the link at the bottom is to FSBO info.
As far as "Why," I think sunnyview and Dan have given real good answers, which probably includes excellent advice.
As far as my advice goes as sunnyview and Dan have covered the most important things, since you don't mind being proactive I'm posting the link below. This in hopes that you might find some marketing ideas in it to supplement your agent's efforts. Please check with your agent before implementing anything from the blog on your own, and always use the agent as the contact person. Good luck.
http://rockinblu-rockinblu.blogspot.com/2009/02/thinking-about-doing-fsbo.html
- sunnyview
- Contributions:25139
I hate to say this, but I think the main problem may be your price. The house last sold close to the peak of your market in 2006 for 223K. You are now asking 227K. About 1 in every 424 houses in your zip code are in some stage of foreclosure here. That is putting pressure on your median price in your area here.
On the up side, your agent's photos and write up are very nice. The fact that she is doing everything she can top market your house is terrific, but you have to reevaluate your price based on recent sales in your area. You may be competing with less desirable houses or REO's, but people are shopping price first so you have to run the numbers and see how close you can get to meeting your potential buyers half way. Talk to your agent, get a new CMA and see if you have room to reduce your price to find your market.
On the up side, your agent's photos and write up are very nice. The fact that she is doing everything she can top market your house is terrific, but you have to reevaluate your price based on recent sales in your area. You may be competing with less desirable houses or REO's, but people are shopping price first so you have to run the numbers and see how close you can get to meeting your potential buyers half way. Talk to your agent, get a new CMA and see if you have room to reduce your price to find your market.
- Dan, "the_country_hick"
- Contributions:4700
I just looked at the property on realtor.com. The pictures there could use some work. The camera appears to have been pointed up towards the sky instead of being flat to the horizon.
The house has very little curb appeal. It looks like a huge garage with some bumps added on. (sorry, no offense) The lot size is very small (may be normal for your area). The lot appears to be sloping and many buyers would prefer a flatter lot.
This may be the real problem. Sold in oct 2006 for $223k. Asking price oct 2010 $227k. House prices have fallen in the past 4 years. They have not gone up. If these numbers are right I expect your real problem is you are priced way to high. What you paid for the property is irrelevant. What it is worth today is all that matters.
Look at the link below. It is your house as shown on zillow. The zestimate may be wrong. But look at the chart of house prices down the page from 2006 to now. It appears you are priced to high to gather any attention.
Your home info on zillow <--- click on this
Just because a realtor gave you a high price to sell at does not mean that they got the price right. It is very possible the realtor gave you a price to high so you would choose them.
The house has very little curb appeal. It looks like a huge garage with some bumps added on. (sorry, no offense) The lot size is very small (may be normal for your area). The lot appears to be sloping and many buyers would prefer a flatter lot.
This may be the real problem. Sold in oct 2006 for $223k. Asking price oct 2010 $227k. House prices have fallen in the past 4 years. They have not gone up. If these numbers are right I expect your real problem is you are priced way to high. What you paid for the property is irrelevant. What it is worth today is all that matters.
Look at the link below. It is your house as shown on zillow. The zestimate may be wrong. But look at the chart of house prices down the page from 2006 to now. It appears you are priced to high to gather any attention.
Your home info on zillow <--- click on this
Just because a realtor gave you a high price to sell at does not mean that they got the price right. It is very possible the realtor gave you a price to high so you would choose them.
- Shann Silver, "ShannSilver"
- Contributions:1
Assuming your house is being properly marketed and you are still not getting showings, then it appears to be priced to high. Pricing is the most important factor in selling a house in today's market. If it is priced too high then real buyers will not come see it. And if you don't have any showings, then of course you won't get any offers.
- Patti and Bart Reid
- Contributions:28
Is your property FOR SALE by owner? If so you do not have the tools necessary for advertising your open house properly. Most buyers are not interested in driving around looking for open houses. They do their shopping on line first, before they even call a Realtor. You need to list your home with a company that has huge web presence and an agent who knows how to use the tools available to Realtors. I had over 25 people at my last open house.
- a.tanchak
- Contributions:2
Howard Hanna does thier own advertising for the open houses. I have also put postings on Craig's List.
- Dan, "the_country_hick"
- Contributions:4700
The economy sucks now. Many people are afraid to lose their jobs and new house so they are waiting to buy. Others (like me) believe that prices are falling with a lot more reductions to come so we wait (1 year more, maybe 2-3). A lot of people can not get credit so they could not buy anyway.
Having said the above, Your price could be to high. You may think it is low but buyers disagree and look for cheaper houses elsewhere. Your house could have problems. A cemetery, high power electric lines, cell phone towers, (nearby) railroad, airport noise, highway noise, a corner lot, a heavy traffic road, and few other things could all make your house undesirable to a buyer. None of those things would be your fault yet they still affect your ability to sell and the desirability of your place.
The overall condition of your house including smells (pet, smoke, etc.), needing paint, and how it looks from the road (including your neighbors places) all contribute to curb appeal.
Beyond the above, there is another big issue. Once the buyers bribe ($8k) died sales dropped by about 1/3. Sales were at their lowest level since 1995 in the last month or 3. That says that many buyers already bought to get the free money or can not get a mortgage now. Buyers now have a large inventory of houses to look at so they can be very picky. This could lead to your house being overlooked.
p.s. all of he above was mentioned never having looked at your individual house. It is general information.
Having said the above, Your price could be to high. You may think it is low but buyers disagree and look for cheaper houses elsewhere. Your house could have problems. A cemetery, high power electric lines, cell phone towers, (nearby) railroad, airport noise, highway noise, a corner lot, a heavy traffic road, and few other things could all make your house undesirable to a buyer. None of those things would be your fault yet they still affect your ability to sell and the desirability of your place.
The overall condition of your house including smells (pet, smoke, etc.), needing paint, and how it looks from the road (including your neighbors places) all contribute to curb appeal.
Beyond the above, there is another big issue. Once the buyers bribe ($8k) died sales dropped by about 1/3. Sales were at their lowest level since 1995 in the last month or 3. That says that many buyers already bought to get the free money or can not get a mortgage now. Buyers now have a large inventory of houses to look at so they can be very picky. This could lead to your house being overlooked.
p.s. all of he above was mentioned never having looked at your individual house. It is general information.
- andicrow
- Contributions:4
How are you advertising your open houses? Are you just putting up yard signs, or are you putting out flyers in popular joints (like coffee shops, laundry mats, etc.)?
Why do I not have a single person wanting to come see my home that's for sale?
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