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Cindy, Home Buyer in North Richland Hills,...

How to sell a home in saturated Park Glen? We've dropped the price 3 times and it still sits.

Asked by Cindy, North Richland Hills, TX Sat Jun 26, 2010

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Dan Chase’s answer
You dropped price 3 times.

How much did you drop the price?

If you went from $587,000 to $582,000 that is not even noticed. It is to small a percentage to care about. It looks more like the seller is trying to get attention than to actually drop price. If you dropped from $575k to $525k that could be noticed and generate some interest. You have to drop your price enough to get people to notice and think maybe now I should consider this house.
1 vote Thank Flag Link Sat Jun 26, 2010
Cindy,

I think much the same way as Debbie does. Our market is changing every day, so you have to be ahead of the market. Much like Debbie, I am very picky about the homes that I actually list. If my sellers are willing to listen to what I have to say about the market and how it affects or is going to affect them, then we are going to sell that home in a short amount of time. If you have lowered the price three times then it wasn't priced right to begin with, or in other words it was priced behind the market. When you have a home for sale in a saturated area, you have to not only be ahead of the market, but your property has to be in great condition. Take a look at your curb appeal and see if your home invites buyers to come in. If not, spruce it up. If you'd like to post your address or send it via email, I'd be happy to run by and give you my honest opinion about the curb appeal. I don't live far from Park Glen and I'd be happy to help. In the meantime, talk with your Realtor and ask for their honest opinion, no holds barred. You can't be successful without honest communication. Good luck Cindy!

Jackie Rankin
truvaluerealty@gmail.com
1 vote Thank Flag Link Sat Jun 26, 2010
All of the answers below are correct. My strategy is to list ahead of the market which is lower than anyone else and it has to be in the best condition and best staged as well. Enlisting the services of a stager.....not a decorator...is another key to selling. I used to tell sellers "you have to live in a house". Well that was the 80's and 90's. Not so anymore.....Now I say "Your life is changing because we are going to put your home on the market " If you don't like living that way then price it right so you will sell to the first buyer. Make it "the absolutely best deal on the market" !! In fact I list only one out of every seven homes I do CMA's on because sellers either won't or cannot sell for the price I suggest. Don't price your house "just a little higher so you can come down". You will take less in the end because what is a little high this month is a lot too high next month. Analyzing this market is a daily job. Make sure your realtor can analyze, photograph, and has the creativity to walk an internet buyer through your house. I had a house listed last month for 5 days and it sold to a buyer who never saw it. Their first offer was $20000.00 low but in the end the seller took only $400.00 less because we could show the buyer this was the best deal on the market. He will close before he sees it and both are happy campers.
Web Reference: http://debbiescrimshire.com
1 vote Thank Flag Link Sat Jun 26, 2010
Cindy,

Did you ever sell your home in 2010? The market has changed SO much since then and many of the home values in Park Glen have increased. Let me know and I'd be happy to pull some current comparables for you. Have a great weekend!

Sajata Hale-Williams
Keller Williams Realty
fortworthhomes.kwrealty.com
0 votes Thank Flag Link Sat Mar 15, 2014
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Donna Tupper
0 votes Thank Flag Link Thu Feb 6, 2014
Hi Cindy,
I know this answer is a little late so hopefully you have sold but it not, have you considered working with an investor that BUYS houses? Many sellers are turning to Investors for an "Out-of-the-box" solution. I have bought many houses that didn't sell the conventional method. Many times we pay cash, other times we take over the mortgages, sometime we bring payments current and STOP foreclosure, and sometimes we even share in the profits. The bottom line is we take the sellers situation, the house situation and create a solution that works for everyone. Everyone must win.

We've been buying houses creatively in the Fort Worth area for 10 years and members of the BBB for about 6 years and have tons of referrals.

Stop by and visit our sites for more information.


http://www.IBuyNorthTexasHomes.com
http://www.IBuyVeteranHomes.com
http://www.OwnATexasHome.com
http://www.GetFreeElectricityToday.com
0 votes Thank Flag Link Sun Nov 28, 2010
Hi Cindy! You are not alone in the Fort Worth market. Buyers want a deal and as it stands, they can go out and get one (if they're willing to sacrifice a little). I refer all my home sellers to this article. It'll give you some good perspective and has a seller's checklist embedded there too that may help!
0 votes Thank Flag Link Wed Jun 30, 2010
Cindy,

It is a price war and a beauty contest out there.
Pricing is important, but so is access, marketing, and condition.
It's tough to tell without seeing your place to know all.
If you would like to sit down and review market conditions with us, we would be happy to spend an hour with you to do this. Homes are selling, but we are at the end of the selling season here in the metroplex, especially in great school districts like yours. We need to act quickly.

Bruce Lynn
Keller Williams Realty
Web Reference: http://www.teamlynn.com
0 votes Thank Flag Link Mon Jun 28, 2010
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
Cindy,

It is a price war and a beauty contest out there.
Pricing is important, but so is access, marketing, and condition.
It's tough to tell without seeing your place to know all.
If you would like to sit down and review market conditions with us, we would be happy to spend an hour with you to do this. Homes are selling, but we are at the end of the selling season here in the metroplex, especially in great school districts like yours. We need to act quickly.

Bruce Lynn
Keller Williams Realty
Web Reference: http://www.teamlynn.com
0 votes Thank Flag Link Mon Jun 28, 2010
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
Have you considered a professionally managed real estate auction? Not sure if that is a viable solution without knowing more about the asset. However, it does provide an opportunity to bring the market to its highest point as opposed to continuing to drop the list price until finally someone bids on your reduced ask price. It can be a very effective strategy if executed effectively.
Lots of great advice already offered. Remember, if you are a serious seller it is all about market "price" and not market "value" especially in this market where buyers have many choices.
0 votes Thank Flag Link Mon Jun 28, 2010
Yes Dan you are right about reducing the price substantially. You have to reduce it enough to get it to a "new set of eyes". Apparently you have it listed in a price range where the buyers just aren' t interested. The best strategy for gettting in front of the most "eyes" you can is for your Realtor to have photos the very first day it is listed. If a new or reduced listing hits the MLS without multiple photos then all the people who cannot wait to see what their search sends them that day will skip it. Trust me......no pics or only one pic......they just skip it. It took me awhile to figure this out but is the absolute truth. Crazy isn't it....someone would not read about your house because there is no photo. Buyers look at properties to "eliminate" them. Well they certainly eliminate the ones they cannot see. When I pull expired listings they usually have no or only one picture. Can you imagine !! Anyway Cindy, I also work your area. Call me if you need me if you are not currently listed with an agent. 817 980-1047
Web Reference: http://debbiescrimshire.com
0 votes Thank Flag Link Sat Jun 26, 2010
Cindy,

If you dropped the price 3 times it means that it wasn't priced right to begin with. It could be that it became a stale listing. As you said, PG is saturated with listings, so it's importatnt that you price it right from the beginning. There is no time to get get a feel for the market anymore.

How many showings have you received so far? What has the feedback been? Did you go check out your competition? If you are getting the traffic and no offers, it means that at least your agent is doing their job in marketing the home, so you need to look at the condition, curb appeal and price of course.

If you post your address, we'll give you our candid feedback about it too.

Good luck,

Naima
214-289-8555
Naima@Sumner-Realty.com
0 votes Thank Flag Link Sat Jun 26, 2010
Many factors come into play regards to selling any home.

Is your house listed with a Realtor? If no most homes FSBO don't sell for fact no one knows they are on the market.

If listed with real estate agent ask Realtor pull DOM about the area.

Curb appeal, interior staging also play huge factors

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Sat Jun 26, 2010
Hello Cindy,

You should get with your agent and do a hard look at the competition. The reason your home is not selling is because other properties are priced better and/or in better condition. To sell your home it needs to show like a model home and be priced ahead of the competition. In most markets 20 to 25% of the current inventory will sell in any given month... you want to put your home into that category.

The easiest way to do so is to have your Realtor take you to the competition. If there are homes that recently went pending that you can still view that are comparable those will be the best. The reason is listed homes are often not priced correctly and you want to see what has sold and how it compares to your property.

If you do this and price accordingly you will sell your house right away, I guarantee it.

Good luck to you!
0 votes Thank Flag Link Sat Jun 26, 2010
Hi Cindy,
It is a buyers market out there, which makes things a lot harder on the sellers, especially in saturated areas. If you are serious about selling, make sure your home is priced accordingly. Make sure your home shows like a model home for all showings. Clean, light, and bright! Make sure your Realtor is doing everything they can to get your home exposure and if you do not have a Realtor get one! It makes a difference. Think about are adding Buyer Incentives to attract buyers to your home instead of your neighbors.
Good Luck!
Corrin Martinelli
0 votes Thank Flag Link Sat Jun 26, 2010
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