How many qualified buyers have viewed your home? The National Association of Realtors has a statistic that if a home has been viewed 10 times and has not received an offer then it is over priced.
Another great item to ask your Realtor is home many homes are for sale within 5 miles of your home within $50,000 dollars of your price? If there is an overabundance of inventory like there is in my market then it might take a price reduction to standout in this market place. It is not what your home is worth, but rather what it will take to attract buyers in the limited buyer pool. Feel free to contact me with questions.
If your realtor suggest you lower your price, your home may be over priced t begin with.
When a home is priced too high ,buyers will shy away. How long have you had it on the market?
Has there been any offers?
Try taking your realotrs advice, he/she has your best interest at heart, and they know the market.
Kawain Payne, Realtor
I have a co-worker who live across street from elementary school (Arcadia district), she just posted a "For Sale by owner" sign outside, already got 3 offers. I am one of those who made an offer & waiting for her to response.....very nervous now.
For me, who have 2 little girls & older folks, I prefer to live next to elementary school for convenience & open space.
It appears that your query here on Truila has generated many good responses (and suggestions) from the real estate community. Value is the first thing that comes to mind when contemplating your situation and its close proxmity to a grammar school. Like someone else who responded here, I too live near a school (directly behind one) here in Arcadia (56 years now), and have been approached more than once by individuals who-- without solicitation, have asked if I was interested in selling my house. I never obliged them of course, but instead was able to successfully help them in finding an alternate house of their liking in Arcadia.
I go to market with a competitvely priced mindset (depending on how motivated you are in selling in the shortest amount of time) and wait for the offers to come in. Keeping in mind that in many instances the very first offer tendered will usually prove be the best one!
Century 21 Ludecke, Inc.
Arcadia CA 91006
It is always a good idea to interview more than one realtor and ask them to put on a listing presentation. So that you can gather enough information to make the best decision on your initial listing price and the best agent that can meet your needs.
If you can afford to, it might also be interesting to ask them to calculate if it makes sense to rent your house out instead of selling it. It should provide a nice stream of income, and your family house is still kept in the family.
I don't believe being across an elementary school is a negative (across a high school is a different matter), having 2 kids myself, I specifically choose my home to be across an elementary school in Arcadia so that I could just walk them across in the mornings.
With summer season just starting, there is no reason to cut relative to neighbors simply because of location relative to an elementary school (especially if it is in Arcadia or San Marino). If there are other valid reasons from you realtor then, it might be worthwhile to consider it.
Wish you a successful search
If you're like most people, you bought the best house you could afford, and isn't it possible that it was affordable because it was across the street from the school, and not two blocks away?
Then, again, if your exact same house was on the other side of the block, in the exact same condition with the exact same furnishings at the exact same price, which one do you think people would buy first?
After expenses, you will probably lose 10% of your equity in changing homes, so if you're thinking about going from a 2,000 sq ft home to an 1,800 sq ft home, don't bother to sell.
Some people do not like to live across schools and some will like the fact that their children will just need to cross the street to go to school. I would not call it an inferior location just a matter of preference.
If your home is already listed for sale and you have received no showings then lower the price substantially. If you have received some showings and no offers then lower it a little.
If your home is not presently listed and you are trying to determine a price, starting off lower will give you the advantage of possibly getting numerous offers and having the opportunity to negotiate and picking the best terms as opposed to not getting any offers at all. You live in a very desirable zip code and there are not that many homes for sale so if priced correctly you are in a great position to get one step closer to your next home.
I wish you lots of luck on beginning the next chapter of your life.
If you are not listed and you want a second opinion on the market value please feel free to contact me. We have three offices, Arcadia, Diamond Bar and Upland.