Questions like these aren't all that uncommon these days. One of the first things I would think of is that you mentioned Redbird Ranch. One of the biggest problems you're going to face selling your home in that subdivision is that the builder (DR Horton) is still selling inventory back there. When builders are still working in a community, it tends to affect prices. Although your home might be priced well, the builder can offer discounts, incentives, and upgrades that you aren't offering. Many of the builders have been having sales as they approach both the end of the month and their end of year (they don't necessarily end their business year on December 31).
Obviously, any agent will mention price, condition of the home, and the current market in your neighborhood (there are 31 houses in the neighborhood for sale currently - that's a lot to choose from). These are all factors you probably have considered and you should continue to consider. Have you looked at the other homes in the neighborhood? Has your agent (if you're working with one)? What sets them apart from yours? Is your home visible from a marketing standpoint? If you google your address, you should find it, but what if you google "Redbird Ranch" or "home for sale 78253" - think of how YOU would search for a house and try and find yours. These sorts of phrases should bring your home back as a result.
I also notice you posted the question in "Home Selling in 78230", but the home is in 78253 - this could just be a simple mistake or it could be that your home is vacant (and you currently live in 78230) - if that is true, that would bring up a new set of questions - is the home being looked after (a mowed lawn makes a big difference in perception), does it look "too empty", and are you in a position where you must sell to meet payments on another home (or possibly facing foreclosure or a short sale situation). While none of this may be true, because of the limited information to work from, I find myself asking a lot of questions about your particular situation.
Without knowing the why, when, and "for how much," it is hard to give you any solid advice, but I hope some of this helps get you thinking in the right direction. If you're working with an agent, sit them down and ask them questions. If you haven't even listed the home, take some time and investigate a few agents here and talk to them about your thoughts. If your home is listed as a for sale by owner, it may be time to rethink that strategy.
I hope that helps.
Matt Stigliano, RealtorÂ®
"Your all access pass to San Antonio real estate."
You are in a TOUGH SPOT. Your biggest competition is the builder, and they are offering buyers thousands in incentives to buy a home from them, such as paying the buyers closing costs, or some type of upgrades, etc.
I'm sure you were offered incentives as well when you bought. So you understand how attractive this can be, right?
Your biggest defense is going to be 3 pronged, and pretty much in this order:
* Priced as competitive as you can stand
*Curb Appeal HAS to say "Honey, stop the car!!"
*Inside has to be immaculate and show ready with a short notice, say 10 - 15 minutes.
Since you're competing against the builder, you'll have a certain amount of traffic driving the neighborhood. So to get any attention at all, you'll have to have curb appeal to get them to notice you enough to stop and grab a flyer.
When they do this, they may already have a price list in hand. So the price upfront has to be spot on from the get go. If this is appealing as well, and they want to actually get inside, they may not want to wait 2 hours for you to vacuum and wash the dishes. So this part just has to happen as a matter of habit. The way we live in a house and the way we sell houses are two different things altogether. Hopefully your listing agent has prepped you for this already.
Typically, if I have buyers in the car, and we're looking at other homes, maybe yours didn't spark any interest over the internet, but we drove by and WOW, they like it!! You can see where a showing could need to be scheduled on short notice.
Once we're inside, it really needs to sparkle. It needs to be plain enough so that the buyers can see their items in the house, but no so cleared out it looks like an empty shell. Take your staging hints from the builders. They spend HUGE money each year researching what buyers react to. Use their research to your favor.
And don't be afraid to spend $100 - $200 for a stagers consultation. they can lay out a plan for you to execute, which will result in a faster sale and possibly a little more money.
I am including a link to a stagers website for your reference. Good info there.
Best of luck,
Johnny E Williams
The is an excellent neighborhood and location. First thing, when you say you are under market are you stating you are negative financial state or that the homes is valued less than what you paid? Also do you have current appraisal or CMA?
In the situation you are in selling your home can be done, it just has to be creative.
Your question will have many answers and I would love to sit down and give you an analysis of how we can get your home sold quickly.
Keller Williams Realty
Guy E. Gimenez
Senior Managing Partner / Broker
When you do sell your home, the IRS will be notified, and you can claim the loss as a capital loss and may get a tax break - consult a tax specialist first.
2. Walk away - notify your mortgage holder that you are giving the house back to the lender. This has serious credit complications for several years. You may not be able to rent a place with this on your records
3. Rent it - is it possible to rent this out? Maybe to a military family coming into the area?
Please email me or give me a call to discuss these options. Kelly Spicer 210-347-7432 or email@example.com
Look seriously at the numbers! In the last three months only 4 homes have sold - all small (less than 1,662 SF) and all NEW. Of the 5 pending, only one is pre-owned; the rest are NEW. Looks like the Builder might have an advantage. Of course! They are paying double commissions to agents.
There are currently 38 homes for sale in Redbird Ranch. 15 are NEW. In the last three months, only 4 homes sold. That's a supply of 28 month's worth. And they're still Building.
It's going to be a while before you can sell against that tide unless you really CUT the price and take a big loss. you are probably better off to find a good property manager and rent it out until the madness stops. It's a nice neighborhood with lots of rental prospects. There are only 5 competitors, and a strong rental demand.
If we can help you, give us a call.
Doc Stephens, REALTORÂ®
If you don't have 4-12 months to sell via traditional method, you may want to consider options such as seeking out investors who can have an in-depth knowledge of creative home buying and selling techniques....techniques that are not offered in the traditional real estate arena.
A traditional sale, short-sale, foreclosure or other traditional approaches to the problem are not always the best or right solution.
I you wish to discuss this further, please call or email me. I'm an investor and real estate broker and can help you see from both sides of the equation.
Guy E. Gimenez
If you have to short sale, you need an agent who understands how to work a short sale. Not just an agent who has sold short sale properties.
First and foremost, it sounds as though you have a Realtor and are just looking for some more advice. If you do not have a Realtor, then I suggest you get one as soon as possible.
You say you are priced "under market". By whose account? Was a thorough CMA done of your area and Subdivision? How priced "under market" are you? As Matt below said, DR Horton is still building. You would need to price extremely competitively to make your home more desirable then a new home with incentives to sell quickly.
Next of course is the condition of the home and accessibility, (how available are you making the home for showing and what does it look like when buyers come to see it?). And, how much and what type of marketing is your Realtor doing? Pictures, virtual tours and video all help to put your home in the best light possible to make it attractive to buyers out in the market today. Trust me, they have lots to choose from and your home needs to stand out from the others.
You have gotten some great answers here, Just Asking. I wish you the best of luck in selling your home. If you need some help and do not already have a Realtor, please feel free to call me.
Realtor(r), ABR(r), e-Pro
Smart Moves Realty
Justin Werner, ABR, CDPE
Accredited Buyer Representative
Certified Distressed Property Expert