Meg,

Hank is so right. I took a look at it as well and you have several problems of which I'm not comfortable discussing since you have an agent (a discount broker that offers minimal "service" but an agency relationship none the less). As far as price, you've had two sales in the neighborhood this year. You are above both of those sales prices significantly. They were both brick and not stucco and were not junky foreclosures, rather fairly decent homes in comparison. You have been in your home since 2006 when we saw the highest sales prices in history and now you are selling while we are seeing the lowest sales prices in history. Anyone who bought a home in 2006 and paid fair market value will not see a sale price anywhere near that in today's current market. The statistics are coming out at about an 18-22% loss over the past two years. That's $36,000 on a $180,000 home. Guess what? Your comps are even supporting those numbers. You have two issues that need to be resolved and they are the only two issues that even matter when selling real estate: Price and Exposure! If what are currently doing isn't working, it's time to do something different. Agreeing with Hank - you've basically done the same thing and have hovered around the same price range for the whole time you've tried to sell. You will never see different results if you don't do something drastically different. You could always stay in it and enjoy your home until you see the market improve. Plan on being in it for 5 more years and putting a ton of money in it to bring it up to date and look appealing verses your competition. Best of luck to you, but in this market it's not about luck.

Understood -

Your agent needs to explain that we're selling to the public and to the agents in this market. Rather than go with a 5% commission that only agents see, cut the price by that much - everyone sees that.

Remember, any deal will need to pass the appraisal process - your agents need to work from that standpoint and appraisers MUST consider short sales, foreclosures, etc etc....we can no longer ignore those as being unrepresentative of the market.

I'd suggest getting that price to a point that makes you're home the benchmark that others are compared to - as I said, it has to be considered a good value.

Thanks so much for the feedback Hank.
Yes, we are on our third realtor. The first two seemed very optimistic about selling our house but had no answers for us besides "it's a tough market" when there were no offers coming in the door. We knew we needed to cut the price and that is why we went with our current agent. We were told we should increase our buyers' agent commission in order to get more showings. Also, there have been several foreclosures and short sales that are much lower than our house. Yes, these houses look horrid on the inside, but they are selling! There is absolutely nothing wrong with our house. The outside is synthetic stucco which we've been told is bad and are coming to terms with that. Other than that, the house is great. Almost every room has fresh paint and nothing is broken. Our reasons for moving have nothing to do with the home. We are moving closer to where my husband has been transferred and where my soon to be retired mother lives so she can care for our child instead of us using daycare. I don't really know how to convey this to buyers.

You're chasing the market. Look at it like a buyer....

1. you bought it in 12/06 for more than it's listed for.
2. it was listed in 10/08 and expired after three months
3. it was relisted in 2/09 and expired again in 6/09
4. it is relisted for a third time in 8/09 and sttill priced very close to your purchase price
5. the price has been a yo-yo the entire time
6. the home certainly looks to be stucco (probably synthetic) and previous listings say stucco - now this one says not stucco. The selling agent commission is also questionably high.
7. I would bet heavily that if and when offers come that they will be low balls as the house has the history that brings out sharpshooters.

I would bet that a common first impression is "what's wrong with the house?". It's been listed by three different agents, priced all over, conflicting listing info and almost a double buyer agent commission...why?

You need to cut price, get that listing to be consistent with the others and work on getting any potential "stigma" on the home explained. Move the agent commission to the normal level and cut price. You also need to come to grips with the fact that you are likely going to lose money on this home.

Hank

I think we're competitively priced. I'm not sure if I'm supposed to give out this info but our address is 5029 Jamie Ct, 30188 if that could help anyone give me answers. I really appreciate all the feedback!!

Homes are definitely selling. To give your home the best chance to sell it must be in great condition and priced competitively within the local market.

No one is going to buy a home for $200,000 though when they can get one just like it down the street for $150,000 though. So speak with an agent to make sure you're in the right price range and to get ideas on how to best market your home.

Good luck!

Unless it's priced aggresively, very well marketed to both agents and the public and in top condition you might see only one more person for the next six months. It's a beauty contest and unless you attract attention and offer value then don't waste time listing because there's far too much quality inventory. The homes selling are the ones that buyers consider a value.

If you have an agent then you should be hammering them for at least a monthly opinion of value. You would do well to get an appraisal as well - see what an impartial opinion might be. The fault might lie with you not listening to your agent, might lie with your agent not understanding their responsibility or might be a combo of the two. Bottom line is that it doesn't matter, you have a problem and unless it gets identified and fixed you'll be sitting.

Hank

Definitely yes, Meg! In 30188, 37 homes are showing on FMLS as pending and 114 properties have closed in the $150-250K price range since 2/09, around when you first put yours up for sale. Do you have the property currently listed with a Realtor? What does your listing agent say? This is where marketing know how, contract negotiation and salesmanship come into play. Big time. The real "secret" is to interview and hire only the very best, full time agents, paying close attention to what they tell you to do to solicit an offer, and then doing your part. Good Luck!

Meg,

Big question. There are alot of factors here. Looks like you are in Woodstock GA. Things around that part seem to be selling, and currently listed, between the low $100,000's upto around $250,000. How is your house priced? How does your house compare to others for sale in the area? How does your house show? Are you getting enough internet exposure? See what I mean.

You don't say if your house is listed with a real estate office or not. If you are, then have your agent find out if the other listings are getting showings or not. You could be priced higher than the other houses and that could account for low showings or you may not be getting enough exposure.

What's the economy like near you? Are there alot of forclosures and short sales? These could effect showings.

You need to find out what is happening in your neck of the woods. If you are the same size, price and conditon, then it's hard to say why you are not getting showings other than not enough exposure. If you are priced higher than most it most likely is price and you may have to reduce the price to attract buyers. If you are not listed with a real estate office then I would contact your local office and get a market analysis and see how you fit in. Good Luck

Do you have an agent Meg? I just took buyers out looking for two days, we looked at over 30 homes and put a house under contract this evening. The home they bought had been listed on the market for less than two weeks while other homes in the neighborhood have been sitting without offers for 6 months. There was a reason the one they bought sold in 10 days. If you don't have an agent I would be glad to tell you the secret to getting your home sold fast even in this market.

YES - homes are selling if they are priced at today's market values and are clean and well maintained. A lack of showings could be caused by many different factors, including the price being too high, the photos or descriptions not attractive to buyers, or the location or condition of the home not appealing to buyers. Without seeing it in person, it is hard to say why it hasn't had more interest from agents and buyers. The market has been much stronger in recent months across all price ranges, with showings, offers and closings increasing.

I have had more showings in the last two weeks than the last two months. It is all about being priced right at this point. I do not know if you have your property with an agent. Have you had comps pulled lately? Who priced your home? Unfortunately this is the market at this time but I have been told by two buyers in the last week that they feel we are at the bottom and they need to go ahead and buy. I have not heard that in 8 months. I know it is very frustrating for sellers right now. Hang in there and just make sure your home shows at its best. and is priced correctly.