month and only one person has looked at it. It is a 4/3 with finished basement including a full bathroom. The rooms upstairs are HUGE. It is priced at 159,750. We need to move ASAP to get my child in the school system at the begining of the school year. Any advice is greatly appreciated!!!!! How quick should you reduce the price?
I would ask you realtor to run new comparables in the area and make sure that you have your home competively priced. If you can reduce the price, I would do that now, while everyone else is doing the same thing you are doing. The market is slow, so driving the home with price and advertising is your best bet.
Please send us pic at Porsche_80@yahoo.com. We are looking to purchase a home in temple!
You should have reduced the price yesterday. It sounds like you have a great house but if it was a bargain it would have sold by now. What is your agent telling you? Do you have it listed at their recommended price? Adjust your price and communicate with your agent. Make sure your home shines!!!
Carol Pease
Elizabeth,
A month with one showing,
First does your agent use a showing service or make the appointment his/her self. Sometime you can not reach the agent to make an appointment to show a home when you are showing.
Second were you shown comps for your area, if your home is prices even 5 % higher the agent must have a good reason advertised for the price difference.
One month is little time to tell otherwise. You are in a market where more people are being deployed then coming in.
Good Luck
Margaret
James gives you a lot of great ideas.
Does your Realtor know that you need to sell in 30 days?
I helped a client sell a home in Oklahoma. He'd been trying to sell it for five months, was getting nowhere. I found out that the Realtor he had didn't understand that my client NEEDED to sell. He changed brokers, lowered the price, and it sold in two weeks.
Be up front with your Realtor. Tell them what you need, hopefullly they can do it. You need 10-12 showings in 10 days to get it sold, I agree, you need to lower the price AND take some of James advice.
Good luck!
Homes attract the most attention within the first 30 days on the market. Having had only one showing during that time is a clear indicator that you are probably priced too high. Did your Realtor recommend a lower price? Often sellers want to "try" a higher price for awhile because they are certain their home has the best features when compared to other available homes. Currently in our Ft. Hood area homes are taking about 60-90 days to sell (although some are selling quicker). If you're not getting showings you should talk to your Realtor and reduce the price asap as much as you are comfortable. Some sellers pay for an appraisal and then list "below appraised value" to attract buyers. If your agent belongs to multiple MLS's ask them about listing the home in other nearby areas (like the Fort Hood Area MLS) - more exposure to more agents is always a plus. Having a virtual tour and multiple photos on the MLS and Realtor.com can also help attract buyers, but the MLS is usually your best source. Good luck!
Taking a significant price reduction will get you the most immediate results. If there are homes similar to yours on the market in your area, bring your price under the lowest comparable. Determining the right price is difficult, even for professionals. Taking incremental price reductions helps you guage the reaction of the buyers. No showings, wrong price. In this market, buyers are also looking for price reductions as a sign of the the sellers motivation. When buyers call on my listings the questions they ask first are "how long has it been on the market?" and "how many price reductions has it had?" If I say none, the response is usually, "then they must not be serious about selling." Show the public how serious you are by reducing your price asap.
I would consider a 5-day sale. A very quick way to sell your home by yourself. Google 5-day sale or Bill Effros.
1. Reducing the price
A price reduction might be the most common buyer incentive, and often it is the one that is looked at first. The price is something that is a common currency -- it appeals to everybody.
But those extra little perks can grab the attention of a buyer; it also might inspire a commitment from someone on the fence between two similarly priced properties,
2. Paying points
Sellers can offer to pay mortgage points for a buyer, an incentive that Dalzell tends to use in environments like today's, when rising interest rates are at the front of a buyer's mind. One point is 1% of the loan amount, charged as prepaid interest.
For example, instead of having an interest rate at, say, 6.5%, a seller might be able to pay points so that the rate is at 4.5% for the first year.
When a buyer sees a lower interest rate or monthly payment, that's something they can relate to. The setup makes sense for a buyer who has furnishings to buy for the new place; it also can make for an easier monthly-payment transition for families that are upsizing.
A word of caution to buyers considering this tactic, however: This assistance doesn't last forever and usually spans about one to three years. Before accepting, understand and plan for the point in time when the window closes and payments return to their normal levels.
3. Down-payment aid
For some buyers, the hardest part of entering the ranks of homeownership is the down payment -- also an area where a seller can help. It's mostly first-time home buyers interested in this kind of assistance because they're often the ones lacking in funds to complete a deal.
It gets people into homeownership. The disadvantage is that the buyer is financing that additional amount because a seller would likely come down in the price of the home if a chunk weren't dedicated to down-payment assistance.
4. Help with closing costs
Closing costs include items ranging from taxes to title insurance and can add up, ranging between 2% and 7% of the loan value, according to Freddie Mac. So many buyers, especially those stretching to make a down payment, will be interested in having a seller help out.
5. Adding a home warranty
A residential service contract is sometimes thrown in as an incentive because it acts as insurance for a home's systems, often including plumbing, heating and cooling.
At a cost of a few hundred dollars, some real-estate agents consider it an inexpensive add-on that affords a buyer a little extra peace of mind. That peace of mind can be especially welcome during the first year in a house.
Others take a different view, and say there's often confusion over what elements are covered. If a problem is considered a pre-existing condition, assistance could be limited.
Plus, a warranty might not be necessary for a handy buyer who would likely take on projects himself, or if you're buying a condo that's two years old, a home warranty might not be that big of a deal.
Those who accept a warranty should read the service contract and call the 1-800 number to ask questions. If the seller pays for this then buyer should choose which company to use.
6. The little things
Other perks will appeal to buyers, too, ranging from the common to the unique.
Payment of homeowner association fees -- typically associated with condo developments -- are sometimes offered. Sellers with pools might also offer a year's worth of upkeep for it, a welcome help to those worried about the maintenance of the backyard attraction.
Or maybe if a corner of the home was designed to fit a grand piano, leaving that instrument behind entices a buyer to go through with the deal.
The important thing for buyers to remember is that they should honestly want this add-on. Translation: A homeowner with no interest in music probably should give up a piano for a more personalized incentive
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