How do we sell our home that has been on the market for over 2 years and price has been reduced $100,000?

Fluffy
Home Seller
Peoria, IL

This home is beautiful, only 10 years old, and the listing price to $519,500, which was appraised for $616,000 one year ago. We have had no offers and few showings. What can we do? The house is on a recreational lake and much too nice to rent.

Answers (2)
Sherry Christia...
Agent
Peoria, IL

Benito was right Fluffy. You need a CMA, maybe a couple of them and see where the home comes in at based on comps. Comps should be as close to the home as possible in location, size and age and should be no more than 6 months old (sale date) if at all possible. Sometimes when doing a CMA on a home such as yours, a Realtor might have to expand the search area to find comps. Homes in your price range do not sell as quickly as lower priced homes, BUT they do sell. You need a Realtor who will market your home to the type of clientele that could both afford and would be interested in this type of home. This requires a little more marketing than just putting up a sign and putting it in the paper. Is the home staged? Please don't be offended, but is it cluttered? Can people see the home or are they looking at your things?

Bottom line, there are a lot more things that go into selling a home than most people realize until they try it on their own. Some are more successful than others. If your home is local to the Peoria area, I would be happy to offer my services to you if you wanted.

Thank you
Sherry Christiansen, GRI

Fri Aug 14 2009, 10:59
BenitoGarza....
Agent
Minneapolis, MN
FIRST ANSWER

Get two CMA (estimate) from two different realtors and fix the listing price.
Remember, is not what you think about the home, is about the market.

Thu Aug 13 2009, 23:37

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