My ex-husband and I have been trying for months to sell our house FSBO (listed here at

Leah
Home Seller
Kane, PA

My ex and I have been trying to sell our house FSBO for nine months. We've dropped the price to our absolute rock bottom. (http://www.trulia.com/property/1049396463-136-Bayard-St-Kane-PA). Overall, it's been on the market for nearly three years, mostly with realtors, but with so many homes for sale in our area and the sellers' market being lousy overall, they need to sell A house, but not necessarily OUR house, so now we're FSBO. Our county doesn't have an MLS. We decided to market it ourselves with ads on VFlyer, as well as Craigslist and other classified websites (we have a $0 marketing budget). Although we've got more leads in the last 9 months than the realtors did in the prior 2 years, we still can't seem to get a decent offer (got a couple of ridiculous lowball offers from less-than-serious buyers). Any suggestions on what more we can do to better market this property and get it sold? We won't list it with a realtor again, sorry.

Answers (15)
Live4mialove
Real Estate Pro
New York

Hi Leah, Have you tried to do a short sale, Get them to buy it from you for less and offer them monthly installments and put the contract as high as you need. Get a contract made from local realestate or attorney that the buyer will pay you XX amount of money for however many years (like rent) and TO get a lump Sum of Cash instead of the monthly payments from the buyer, I as a note finder (or contract finder) will list your contract for someone bigger to take over those payments and you will get the cash in hand. for more details if you havent sold your house yet, let me know! live4mialove@gmail.com -Nikkie Im here to help.

Fri May 15 2009, 08:46
John Burns
Agent
18964

If JAMES is correct, that homes in your area are selling for half of what you owe on yours.It doesn't matter how much you spend on marketing or if you have it listed with a realtior..the reson is even if you find someone who is willing to pay your asking price...THE PROPERTY WON"T APPRAISE HIGH ENOUGH FOR THE FINACING...you probaly are looking for a cash buyer to over pay by double...A big fish...did you ever hear of the term "short sale" call your lender and offer this to them..the other option is to keep it and rent it...probably for life or until it appriciates to the value you need...good luck...A realtor probably would not help for double commission...lots of work involved in a short sale..

Sun Feb 24 2008, 04:40
Sharon Harris
Agent
Hanover, PA

I know you have intetions of selling. However if the home is vacate why not try rent to own. At least it will bring in money.

Wed Feb 13 2008, 15:41
Lise Desormeaux,...
Stager
Atlanta, GA

Leah, I realize you've stated you will retake the pictures however, may I add a few suggestions. I am a professional home stager and I can help you with some tips regarding the redo.

1. The kitchen counter in your current picture is cluttered with odds and ends. There is another area, the kitchen nook, with the same issue. When you redo your pictures I would ensure that you prepare the space first. Bring in some accessories to dress up the space, but not too much. Take down the plant on top of the cabinets.

2. I didn't see the master bedroom. Always include pictures of the rooms that matter. Bathrooms, kitchens, living room, dining room and of course the master bedroom. Exterior front and back as well.

3. The shrubs and bushes in front of the house need trimming so the house can be seen. Rule of thumb is always below the lowest window.

4. The parlor to living room looks empty. See if you can rent some furniture for empty rooms. This shouldn't cost too much and will be well worth it for you new photo shoot. If your budget (I know you don't have one but you need one) allows I would keep it in the home for showings. Empty Rooms create Empty Emotions; real estate is an Emotional buy. Have either of you considered having one of you move back in so that you can properly furnish the home while it is on the market. This would be a very smart move and save you the expense.

5. The wallpaper must come down. It's too much personality for such uneventful spaces meaning, with the rooms unfurnished the paper pops out at you and hits you in the face. It's too personal and if buyers are turned off by it, which my guess is they would be, they we be equally turned off to the house.

6. Previous answers were correct in mentioning the lighting. The pictures are not bright enough.

7. Remove the car from the driveway and frankly the driveway picture is not necessary unless every home on the market in your area does not have this feature. With this picture included in your selection it appears as though there isn't anything else worthy in the home to present in a photograph.

8. One last note. Imagine yourself as a buyer in your area. I'm sure you've been there at least once before when you purchased this home. What did you remember when the day or days of looking were done. If can recall I'm sure what you remembered were the homes that looked the best. The others were soon forgotten. Your home will be soon forgotten in the current vacant status it is in. The property looks unattended too with no curb appeal before anyone even gets the chance to walk inside. After seeing the inside they confirm the neglect. Putting yourself in the buyers shoes will go a long way in helping you better package this product for market.

Good luck and keep working at it! If it gets to be too much down the road I would rent it out until better conditions occur. It sounds as though you'll be taking a hit on the price already so, if home values go down, I would try another time.

Web Reference: http://www.rmr-usa.com
Sat Feb 2 2008, 17:56
Linda Brillhart
Agent
17404

although you say you have a 0$ marketing budget, you will still probably have to spend some money to find a buyer ... how about searching your area (anything within a typical commute) for a market where houses are either 25-50% higher or lower than your area and target these folks (it may take some time if you don't have access to an mls,) but county tax records may be helpfull if you don't already know price ranges in your area). you might try a post card with a pix of your house with basic information about your house ... bedrooms, baths etc. and something unique to your home or neighborhood that will entice someone to seek more information ... use the card as an open house invitation and suggest anyone attending the open house bring a friend... hope this helps... p.s. if you haven't already "staged" your home, you may want to consider this, since if doesn't cost any money if you do it yourself

Sat Feb 2 2008, 06:36
Joseph Skinner
Agent
Myrtle Beach, SC

Here are some suggestions:

1. Create a web site for the property.
2. Include good pictures and a virtual tour
3. Include area information (schools, city info, etc)
4. You might want to offer to pay closing cost
5. Consider a lease to buy option
6. Don't give up with craiglist, vflyer, etc. Some response is better than nothing
7. Search the web for selling ideas like dressing the house, landscaping
8. Show the home to someone that you can get an honest opinion of what they would or would not buy the house
9. Consider rehiring a good realtor

Good luck!!!

Fri Feb 1 2008, 06:39
J R
Agent
New York, NY

If you and your ex are serious about selling your house, and it sounds like you have to, please hire a professional and stop trying to go the do-it-yourself route. You need someone to price your house so that it will sell, who is not emotionally involved in the pricing department. You're both too involved. Your rock bottom is irrelevant. Rock bottom based on what? What you owe? The fact that you'd each like to get $X to start your new lives apart? All of your efforts, VFlyer, Craigslist etc, are akin to a couple of kids putting up signs on a lemonade stand. As for your "leads", what happened to them? All looking for bargains? Have a house to sell? "Loved" your house ... but? These aren't leads. Hire a professional agent from a large company and move on to the next stage of your life.

Fri Feb 1 2008, 05:51
J
Other/Just Looking
Atlanta, GA

Definately consider investing in a virtual tour of your home for sale or rent and get it up on the Internet ASAP. This housing market dosent' give you many choices, you need as much exposure as you can get! A virtual tour of your home for sale displayed on the Internet is the way to go...it is safer, no waiting for no shows, no everyday house cleaning... plus you can run an ad in the paper and refer interested parties to your online tour saving everyone valuable time and gas. An excellent web site to check out is http://www.TourByOwner.com
Their sister web site HomeScenes.com is designed for real estate listed properties only...in the event you decide to list your home with a real estate agent later. Note tours on TourByOwner.com can be transferred to HomeScenes.com for a reasonable processing fee to your agent if you list.
TourByOwner.com tour pricing is very affordable and the online ordering system and online flyer system is easy to use! Activity Reporting System Too! If you are not in their photography service area, you can upload your own UNLIMITED photos and they will build a tour for you! Good Luck!

Thu Jan 31 2008, 22:45
Keith Sorem
Agent
Glendale, CA

Leah
I do not know your market (disclaimer), however I am surpised at the great responses you have did not mention two important factorsL
First, the price that a home will sell is the price a willing and knowledgeable buyer will pay and to which a seller will agree, The price has nothing to do with how much you owe, or how much you have invested, or how much you need to net when you sell. The market is speaking to you loud and clear as to the Fair Market Value. It appears you are not listeing. It sounds as though you are saying "if I cannot get my price, it's the market's fault).

Two, on average, 90% of the time a buyer that purchases a home sees that home with a Realtor. For that to occur, three people need to think your propery is a "good deal"
1. The agent for the buyer
2. The buyer
3. The lender

If you are not receiving showings the price is too high Based on your sad story my guess is that other homes, priced correctly, HAVE SOLD during the three years you have been trying to sell yours. If that is the case, then you do not have a market problem, you have an unrealistic pricing problem.

So, I agree, rent it out, or read my post on short sales and foreclosures.
But don't blame the market, don't blame the Realtors,

Thu Jan 31 2008, 06:08
Julie Toon Pawl...
Broker
Hilton Head Island, SC

Do you have to sell the property? You have an empty house and no income from it - try advertising it for lease or lease with an option to buy - perhaps you can at least cover your costs until the market recovers or your buyer will be able to close on the property - there are also ways to structure a lease purchase where the tenants pay for any repairs.

Wed Jan 30 2008, 18:08
Leah
Home Seller
Kane, PA

Thanks all for your answers and suggestions! I appreciate your help! I'll be re-doing the photos soon, hopefully that will generate more activity. Unfortunately the home is vacant now, but I'll do my best to accentuate the architectural features, etc. as Jane suggested. The market in our area is VERY bad for sellers, we paid $85K for the home ten years ago, and we've got it at $65K now. Yes, Patti, I am afraid that figure is OUR rock-bottom (you're right!) and selling at this price right now will just pay off the mortgage and cover our closing costs, so we'd just break even. The market's rock-bottom, however, is a different story; if the market drops any more (which we realize it probably will), we're aware that we may end up actually writing out a check at closing. Another problem we have is that most folks in our area don't make enough to afford a home that costs more than $50K and, if they can, they want a home out of town with some land. And James you are correct, the lending standards are much more strict than even just a few years ago, which is making it harder for people to buy a home that they likely could afford in a different economic environment. The two ridiculous low-ball offers we received: $10K cash (seriously?) from a guy who hadn't even seen the place, and $30-$35K from a representative of a group of investors out of Phoenix (who also had not seen the house). I'm going to redo my pictures and I will try the MLS that James suggested, and I'll also attempt to convince my ex to list the property on eBay. Thanks again to all for your suggestions and advice!

Wed Jan 30 2008, 17:29
Jane Dough
Other/Just Looking
Sacramento, CA

Are you listed on fsbo.com?
You need better photos. The personal items and clutter in your photos are distracting, plus the photos are dark. Take your exterior photos on a cheery sunny day. Use spotlights and long exposure time to get better photos of your interiors. Open all the curtains. Delete the photos of the driveway and instead give us pix of the kitchen and bathrooms.

Wed Jan 30 2008, 16:43
James Gordon PBD...
Agent
Butler County, OH

A Victorian takes a special person to own as they are a maintanance intensive home. I know because I own a Queen Anne, Princess Anne, and a Italliante. By the way here are some other move in ready homes in your area.
323 Bayard 37,900,
404 Dawson 35,000
328 Chase 29,500
And there is an MLS that all the agents use in your area. You can reach them at 814-837-8540. An agent when they list your home will enter it into the broker exchange system.

Good luck and remember you may be at your bottom but the market may have some drop left to it. Also unlike 2 years ago you have to be better qualified than just being able to find a mortgae broker to get a loan.

Wed Jan 30 2008, 16:08
Patti Pereyra
Agent
Chicago, IL

Hi Leah,

I'm sorry to have to ask this, but you say you are at your "absolute rock bottom"... that is YOUR rock-bottom, but is it the market's rock bottom?

The unfortunate fact is that many sellers find themselves in your situation today: pricing their home at rock bottom is still not low enough.

The fact that you've actually gotten offers means that your home IS being marketed, because buyers are finding it.

Since you have no MLS, I assume the buyers are making these offers without knowing that you have been trying to sell for 3 years? Sometimes long market times like yours lead buyers to believe you are desperate enough to give it away, hence the 'lowball offers". However, the fact that you've gotten "ridiculous lowball offers" more than once may mean that the market is talking to you and you either can't afford to hear it or don't want to. Repeated offers in the same price usually mean that is what it is worth to buyers.

I am hoping a local agent can chime in here with more words of wisdom for you.

Sorry for your frustration!

Wed Jan 30 2008, 15:44
Bill Schwent
Agent
Santa Fe, NM
FIRST ANSWER

As surprising as it may seem, try eBay. I think it will cost $250, but you'll be surprised at the activity you will get.

Wed Jan 30 2008, 15:44

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