It is about affordability; What can you afford to do or not do. What can the buyer afford in your nieghborhood? It is always about affordability. Try to take the word "value" and "price" out of the equation and address affordability.

How frustrating it is for sellers to be in your situation. Unfortunately, the market is "the market" and the best way to get a buyer is to "price ahead of the market. " What this means is that you need to look at the most recent pended listings and look at their prices. From that you can see what $ per sq. ft. seemed to look like a great deal for the house and area.

As far as your nicer than average amenities, you may have to convince yourself that those of the features that will make your house sell or that you put them in for your own pleasure. In a "stressed" market, the return will not be what you would think (at resale) for nicer amenities. The bottom line, which no seller wants to hear, is that it is all about price.

Bite the bullet and let go of the cheese, as the other blogger suggested. You will most likely make up the loss the next time you sell. I wish you good luck.

Lack of showings and offers means the price is higher than your market will bear.

Marketing a home is all about the 3 Ps;

Price
http://gowithgregg.com/2008/02/16/tough-pill-to-swallow-part…

Presentation
http://gowithgregg.com/2008/02/17/tough-pill-to-swallow-part…

Pro-active marketing
http://gowithgregg.com/2008/02/18/tough-pill-to-swallow-part…

I've been representing buyers exclusively for 9 years now. Incentives are not that big of a deal compared to the price. Buyers might be happy about a "perk", but they won't buy a house because of it. It's your price. Sorry, but that's the truth.

MT
There are a couple of rules of thumb in selling a home:
10-12 showings should produce one offer.
No showings, reduce the price
Few showings, no offers, reduce the price
Low offers, reduce the price.

Assuming competent marketing, you need to lower your price. Look at the market stats. Look at the home activity around you. If no homes are selling, that does not mean your price is okay. Most markets are buyers markets, so if you don't need to sell, then don't.

If you do, you need to price BELOW market, hope multiple offers to create an auction type effect.

Good luck

Hi, it's me, the homeowner again. First, Scott, isn't getting information from another broker some kind of breech of contract with my current agent? My agent shows me information about other homes in the area, but like I mentioned before, comparables are hard to come by, because there are not very many 3 bed/2 bath/2 car garage homes in the area, and if there are, they aren't in good move-in condition like mine is.

Second, Kim, my realtor works for Coldwell Banker, so my house is in the Duluth Area Association of Realtors MLS and on the local CB website as well as the national CB website. It's in the local newspaper every week on the front page of the Homes section. And with this sales campaign, it's also being advertised (not my house specifically, but the 10 day sales event) on the radio and TV. I have put up flyers at my workplace, I have put ads on craigs list. I seriously don't know what else to do.

I am looking for ideas to put into the listing, like "seller will pay xxx costs", but I don't know what that would be. What are the current trends? Cash toward down payments? Paying certain fees? Sorry Scott, but "a year's worth of heat" is just too ambiguous for me. I'd rather give a known lump sum determined up front, but I don't know how to do that.

What about these "real estate investors" who claim to take over the payments until they can get the home sold? Is it a scam, or something to consider?

OK, the 3 things to think about when selling your home price, price and, oh yeah, price. It's always about the price. I don't care where it is or what condition it's in, it's about the price. Your house may be worth the price you're asking, but there may not be a buyer out there in that neighborhood that can afford it and wants to pay more than other houses in the area are going for. It's a tricky business, trying to get the most for your house that you can. If you really want to get it sold, get a really accurate reflection of what the houses there have most recently sold for. There is a school of thought that seems to work for some agents/sellers of pricing the house just below market. That way the buyers that are out there looking will see it and there may be a potential for a multiple offer. I've competed in several this year! But, I do not know your area and your market. Please be very honest with your agent and get the most recent info so you'll be priced right.

I don't know if your Realtor is with a boutique brokerage or a large, corporate owned brokerage, but aggressive marketing is key. Our marketing feeds to all channels of the media: newspaper, INTERNET, direct mail to neighborhoods and other Realtors, even occasional open houses. I personally think open houses are a thing of the past. It was effective before the internet when buyers did not have access to online information about a home. Usually no traffic also indicates an overpriced home. It's been 120 days, so a new market analysis is due. When determining a reduced price, try to separate yourself emotionally from this home and take future value into consideration. I personally don't think the market will rebound as quickly as others. It's your discretion, but I would rather take a small loss now than carry the home for another year and risk foreclosure on one or both properties.

Mt

The link below is to my blog that is directed mainly to FSBO's. However, sandwiched in it are some marketing ideas that you may want to try on your own to assist your agent. If you do attempt a few things, be sure to advise your agent of what you are doing. Good luck

http://www.trulia.com/blog/rockinblu/2008/08/thinking_about_…

You need to first get a new brokers price oppinion so you can see what the other similar houses are selling for. Once you know if you are priced right, you need to make your house stand out, offer a years worth of heat or something others are not. price will always be the first thing that brings a person in. open houses are worthless now adays because the banks are just not loaning, anyone that can get a loan will want a private showing and not deal with the a open house. good luck