More than likely it's priced to high for the market. After you've done all the low cost things to make your home more appealing like painting and cleaning, try a lower price. It doesn't make sense to spend a lot of money that you won't get back on updates.

Tue Apr 22 2008, 11:24

Okay, I'm annoying with multiple posts. Here is a difference flowers, paint and curb appeal can make. The picture is distorted because I took half of the Google picture and half of your Zillow picture to show the driveway. The reason I want to show the driveway is because of the old fashion red bricks.

Small, old, 2 bedroom, could be an advantage if it is sooo incredibly cute!!! Take a look at the picture I created. Mike, feel free to replace your profile shadow picture with this thumbnail one if you'd like: http://www.oak-park-il.com/curb-sm.jpg
Ruth

Tue Apr 22 2008, 10:52

Aurora is flooded with homes for sale. It has to be priced a little under market to even get noticed.

Tue Apr 22 2008, 10:47

The answer is simple. YES. If you get ne showings or lots of showings but no offers, the value is not there. Since changing location is not possible and improving the home will cost money, the only variable left is price.

Tue Apr 22 2008, 10:41

It's adorable!!! I'd have to think you could do well with a rental. It's way too cluttered though in the pictures at Realtor.com and I couldn't find any pictures at ChicagoTribune.com. Zillow's pictures look the best. You do not want the date stamp on the pictures and you need a great curb appeal picture with tulips or irises (the next flowers of the season). Just like snow dates your home as been on the market since winter, daffodils will date your home too because by the time people see the picture, daffodils will be gone.

You have a great chance to make another first impression because the current photo and your next photo will look dramatically different. With so much competition people won't even notice it as the same house. You are going to have another negative against you too. Google just came out with "street view" on their maps. The pictures were taken last year and are just now being posted. You're home's picture was taken when it had dreadful curb appeal. But it looks like a really nice neighborhood and your cute little home should really stand out now. Is the exterior of your home painted? I'd go with a front on view and show the driveway a little. Paint the front door and the trim around the upstairs window the same darker blue as the detail at the point. Then have LOTS of bright Yellow and Red flowers including hanging pots. Don't have the For Sale sign up for the pictures.

Again, it is really cute! Make it pop with the best curb appeal of any home under $200k.

Ruth

Thanks Elvis.

Tue Apr 22 2008, 09:10

I haven't looked at the pictures yet, but I will. The advice that you received about wide angle or panoramic would probably been for a brochure or self designed website. The pictures for Realtor.com and the Chicago Tribune should be exactly proportioned to their standard size. So if the Trib is 400x266 pixels, you don't want your photo 400x400 pixels. If it makes you feel any better, the first home I pulled up in Aurora was over $1 mil and the pictures were awful. They were all different sizes including tall skinny photos where only part of it was shown in the thumbnail and the dining room photo was crooked. These look like they may have been professional photos but they sure were not targeted for the Trib website.

As for no showings, no you cannot automatically assume it is price regardless of how many agents repeat that as their mantra. In your case, as already pointed out, you have multiple reasons for no showings in no particular order:
1) 2 bd in a 3 and 4 bd market
2) originally bad photos
3) flat rate agency
4) lots of foreclosure competition
5) price based on what you owe, not market value
6) marketing
7) a fickle and down turning market
8) buyers ability to get a mortgage

Mike, in this market even if you don't have anything wrong with your price, marketing and property, some houses aren't selling. You have all sorts of things going against you as evidenced by no showings. You probably should try and rethink the big picture. My personal advice is to interview several local full service agents, look at your competition as if you were a buyer, drop your price below market value, and consider trying to sell the new construction home and staying where you are at until the market turns around.

Good luck, I'll go look at your pics now. I take a long time to type and so I looked for more posts. YES, consider renting but find a professional to help you with that as well. You don't want someone to destroy your home or move in and stop paying rent.
Ruth

Tue Apr 22 2008, 08:23

Sure, give me a call. I will be in the office for the next 20 minutes & then will be out for a 11am meeting.

Tue Apr 22 2008, 08:13

Jennifer-Yes, you can give me the info for photographer, should I call you for it?

We are also thinking we would rent for a year if we can find good tenant.

Tue Apr 22 2008, 07:52

Very possibly, unless there is something else, such as an extremely unappealing exterior view, bad neighbors, etc. that is turning off potential buyers. You must remeber however, that price is everything. In the absence of some possible environmental or costly hazard, EVERY property will sell, and will sell today, if the price is low enough. This is an absolute fundamental marketing truth.

Tue Apr 22 2008, 07:42

it's simple your price is too high, even if your location is not desireable, then your price has to relate to your location and condition.

Tue Apr 22 2008, 07:38

Price is usually the key when marketing your home. Do you have comparables that support your list price? I suggest you have comps that will support your list price, provided by your Realtor or your own research to be sure your property is priced in the ever so changing market. What kind of exposure is your home getting? Realtor.com says over 70% of buyers start searching through the internet, is your property there? My site below is an example that your Realtor should be using to get maximum exposure, as you will see my site provides the whole Multiple Listing Service properties for sale in my area. I also suggest a virtual tour of your property if its priced correctly and your home is in order ( clean ).

Tue Apr 22 2008, 07:36

Elvis knows what he is talking about with pictures but I know I am a Realtor and not a photographer so I always use a professional. To answer your question though-Yes I agree with him, they still need work. If you have the tools I would give it another shot on your own. Remember that everyday potential buyers are seeing your home on line & if they don't see anything they like they are moving onto the next home. I would not waste any time in getting the best pictures possible. I know I offered before but I would still be happy to supply the info. for the company I use if you decide to go that route.
I would also suggest thinking outside the box to get people into your home to view it. I am not sure what the company selling your home offers but have you had any open houses? I will be the first person to tell you I am not a fan of them because I have not seen much success but giving it a try won't hurt! You might want to think about enticing people to show up too...like a drawing for a gift card etc...

Tue Apr 22 2008, 07:27

You are either over priced, or have no curb appeal. When Buyers pull up to a home, the first impression of a property is the appearance on the outside; then secondly it's the appearance on the inside. Is your home clean, any upgrades, or is it older. You must price it with current market values. Is it easy to show? Is there a lockbox on the house.

Tue Apr 22 2008, 07:21

Wide angle is different than panorama.... a wide angle lens... distorts the photo slightly, taking in a slightly larger area of the room and making the room look a little bigger.

A panorama lens (or setting) just scans left and right... but when you view it in a square... it squeezes the panorama into the square... leaving a horizontal strip, with huge empty space above and below. Not a great look.

Tue Apr 22 2008, 07:15

Jennifer-No, we have not received any calls for showings since lowering the price. Do you agree that our new photos still need to be improved? We took advice from a realtor who said we needed more wide angle view of the rooms.

Any other suggestions? We are building a new home and its going to be ready in June!

Tue Apr 22 2008, 07:13

Mike, I see that you're still on the market at 74 days...

You are at a disadvantage, already, by having a 2 bedroom home. 2 bedroom homes are far less desirable than a 3bedroom or larger.

Also, I have to agree with Jennifer, your photos leave a lot to be desired. They are you front lines, since you're flat-fee MLS, they are the first, and often ONLY thing that a potential buyer will make a decision on, as to whether they want to see your home, or not.

You've used some sort of "panorama" setting, which is normally a good view, but on the MLS (MLSNI... Multiple Listing of Northern Illinois, which has recently changed to MRED Midwest Real Estate Data) the photos are more square and your use of the panorama setting is causing the widest part to fit into the square, making the photo much smaller than necessary, and harder to view.

Also, the photos are way too dark, because your camera's light meter has read the bright light coming through the large windows. Reshoot the photos on a standard setting (more square), and adjust for the windows (or shoot on a very gray day, with good flash), and see if you can improve your photos. That would be a good first step.

Tue Apr 22 2008, 06:41

Hello Mike, People,

I'm Jorge Nunez a Realtor from Jacksonville, Florida. Price reduction is not part of my marketing strategy I leave that to the market conditions. Many times I use Math to find Answers. In this case I would find how many properties, very much like yours, are on the market’s area. The closer your property is to the top three the better situated you are. Find out what is there for you guys to do in order to move the property up the ranks, price reduction being last. You will be amazed. Take a good look at how well priced the condos and other homes I have listed in Puerto Vallarta, Mexico are. If you guys have any questions write me.

Jorge Nunez

Tue Apr 22 2008, 06:40

Mike-I see that you dropped your price last week-any response since then?

Tue Apr 22 2008, 06:27