Home Buying in 12061>Question Details

Michael  Mal…, Home Owner in East Greenbush, NY

Why is my condo not selling. All of the other condo's in the complex are filled?

Asked by Michael Malone, East Greenbush, NY Sun Sep 22, 2013

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Answers

7
"Why is my condo not selling?"
Michael, that is a very legitimate question for which there IS an answer.
As you noted, other units are sellling, but yours has not.
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When your condo was listed with a REALTOR, a market analysis was completed.
The analysis revealed what other units are selling for.
What the condition of those units were.
The situation of the sale.
Any adjustmetns or consessions involved.
The volume of sales.
The 'sweet spot' regarding price and condition.
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Did you price where the DATA indicated?
Has the proper amount of time passed to assess the results?
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Now, an analysis of the REALTORS marketing must be completed.
If the 2nd level respones exceed the projection, (10 times sales) that means the marketing is reaching the active buyers. More marketing will not make a difference.
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Since the active buyers have seen your condo and have not made a purchase offer it absolutely means it is not within value bracket of the buyer. The buyer has rejected your condo. They may be waiting for a correction or an entirely wrong population is being reached.
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Do an objective (not subjective) review of your condos attributes and do what ever is needed to make it competitive.

Best of Success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor FL
727.420.4041
Move to the Front of the Line
(http://FirstLookHomes.us)
0 votes Thank Flag Link Thu Nov 21, 2013
Hi,

Sorry to hear your condo is not selling...hopefully your agent has been giving you feedback from the agents who have viewed your home. They are the professionals and their expert opinions are important. If your home has been on for 2 months or longer and has not been shown much, then maybe another Market Analysis should be done. Make sure your home is getting the internet exposure it needs and most of all make sure you are within 10% of Market Value.

I have been in the business over 26 years and in this day and age, how your home shows on the internet is key in expediting the sale of your home. Keep communication open between you and your realtor and follow the advice of a "Professional".

Good luck and I hope the advice from me and my colleagues helped.

Elizabeth (Liz) Paone, GRI,CBR
Licensed Associate Real Estate Broker

518-441-5352 Cell
0 votes Thank Flag Link Thu Nov 21, 2013
Hello,
Very sorry and surprised to hear that. East Greenbush is a very busy market. I just listed a condo 5 days ago , we already had 4 showings and 2 offers being made. Agree with my colleagues have a heart to heart conversation with your Realtor .
Sincerely
Vera Luft
Branch top producer
RealtyUSA
(518)8598117
Vluft@realtyusa.com
0 votes Thank Flag Link Sun Sep 22, 2013
Add a pool to relax and enjoy the weather
0 votes Thank Flag Link Sun Sep 22, 2013
Hi Michael,

There could be a number of reasons as to why your condo is not selling, i.e., condition, lack of marketing or price. More than likely, it's the latter.

I would advise having a serious conversation with agent. Find out what efforts are being done to get buyers through the door and if you are priced competitively. Lastly, Michael, how does your place look? Is it clean, is there clutter or are the showing instructions reasonable? All these questions should be answered by your agent.

If you do not have an agent, therein may be where the problem lies.

Best of luck to you!

Barbara Grandolfo
0 votes Thank Flag Link Sun Sep 22, 2013
Drop the price to 129,900
0 votes Thank Flag Link Sun Sep 22, 2013
Hi Michael,

This is a question most appropriately directed to your realtor. Since they know both the local market and your unit, they should be able to render the most accurate information.

Price, appeal, & location are usual determiners that enter the picture for most buyers and may be connected to the source of your problem.

Good luck,

Bill
0 votes Thank Flag Link Sun Sep 22, 2013
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