I am a local realtor and I live in Hiram as well and I can tell you there are buyers looking in the Paulding County area. The major problem for our market currently is the number of foreclosures for sale. Paulidng County had the highest number of foreclosures advertised in the local paper(Dallas New Era) this past month with over 300 properties. Buyers are aware of the market condition and are looking for deals right now. Banks are taking huge hits on foreclosed properties and buyers are getting houses well below market value. It is tough for most sellers to compete with that price wise.
As a seller in the current market, you not only have to price it right, but having your home "staged" will give you an edge. Also, make sure you have the most photos and the best quality photos possible. Realtor.com is the number one website searched by buyers. Ask your agent to put the most photos possible (25) to increase possible showings.
Premier West Realty, Inc.
We were originally asking a modest (at the time) 215K and dropped to 200K thinking we'd come up when people are searching with 200K as the high point, or low point of their search criteria. That's encouraging that you're getting some showings at 189,900; maybe there's hope for this market yet! :-)
I was talking to my wife about the price of gas, thinking the same thing: now, when people are weighing the pros of a cheaper house and bigger yard against the cons of a longer commute, it's compounded by fuel expense. There's that, and also I imagine that it weighs on the Agents who have to use up more gas showing houses.
Being local has nothing to do with it. I've sold homes in Powder Springs and I live on the otherside of the map in Suwanee,GA!
Hiram is a tough market right now. Not many buyers are looking in that area because of gas prices. Most people living in that area commute to Marietta, Kennesaw, or the Fulton Ind. area. and let's face it getting to any of those areas from Hiram can burn alot of petro.
Make sure your agent is sending out e-flyers, updates on listing changes, etc. to all the local agents in Hiram and surrounding areas to look for that buyer!
Financing is a big issue for buyers right now so think of offering special discount points or financing options for them. Announcement today says down payment assistance will be gone by October so it's going to get even harder.
Good luck and hang in there!
We are beginning to see the light at the end of the tunnel... let's just hope it isn't a train coming the other way! We have a listing in Dallas just off Hwy 92 and it had no showings (at all) for three months. We dropped it from $199,900 to $189,900 and now there are two showings scheduled for Sunday! One person is coming back for the second time and one for the third time. We are keeping our fingers crossed.
Your issue may be about price point. You are better off to be the highest in a lower price range rather than the cheapest is a higher price range... and sometimes it is just the difference of a few dollars. If you don't mind us asking... what is the asking price of your home?
Believe me, greed is the last thing on our minds -- the longer it's on the market, the more money we lose in mortgage payments and storage, plus the Limbo of having to wait to sell it. We were probably already the best bang for the buck before we dropped 15K (which our Realtor didn't think would help, and she seems to have been right). We've just had no showings at all since January -- the two prospective buyers we had wanted to buy, but couldn't get the financing. The other houses in our subdivision aren't moving either, and most of those have dropped prices significantly.
Our Realtor isn't exactly local though (Roswell) and that adds to the anxiety.
There are currently about 500 homes for sale with Hiram addresses, plus about 50 are currently under contract, and about 125 have closed since 1/1/2008. This means you home has significant competition and the only way to beat the competition is to be better than they are.
Make sure your home is in as nice a condition as you can afford and is offered at the lowest price that will enable you to achieve your goals. This is no time to build in a big negotiating margin and certainly no time o be greedy. Home Buyers are smart and they have all the information they need to know home values in a given area.
Think of your home value in terms of a pyramid with the homes with the best combination of price and condition at the peak. That is where you want to be. You don't have to be the best AND the cheapest. You just need to have the right balance of price and condition.
For a more detailed answer, call your agent and discuss it with them. If you are not listed with a licensed real estate broker, you can call us at 1-800-717-OWEN (6936) Nationwide Toll Free direct.
Karen and Warren Owen