Home Selling in Clayton>Question Details

Ducky, Home Seller in Clayton, NC

Is there any point at all in putting a condo back on the market when none in our complex are selling? How low would we have to price it?

Asked by Ducky, Clayton, NC Tue Feb 22, 2011

We live in a suburb of Raleigh and own a condo in a complex that is mostly apartments. A few of the buildings were partially sold off as condos (some of the 1 bedrooms never sold and are still empty.) Many have been on and off the market for years, and I don't know of any that have sold recently. We've had ours FSBO as well as listed with a realtor. We barely even get any calls, let alone anyone who wants to see the place. We are willing to take a loss, but there's only so much we can afford. Any advice of how to finally be rid of this condo??

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4
I realize this post is old, but wanted to see if you every old your condo? The market is much better than it was a few tears ago. If you still need to sell, or have interest to buy/sell other property, feel free to contact me.
MelissaP@hpw.com
Thanks!
0 votes Thank Flag Link Wed Jan 9, 2013
Consider inviting a few local agents from different realty companies and ask for a CMA, comparative market analysis, review the data and then make a determination as to a fair price-- you may wish to consider hiring one of those agents as your listing agent. In today's market, pricing and marketing that maximizes your exposure are paramount; do keep in mind that a home is worth what someone is willing to pay for it, not what the seller needs or potential buyer can afford to spend, market conditions do matter as does the immediacy for the transaction to take place.
0 votes Thank Flag Link Tue Feb 22, 2011
I would suggest figuring out what similar units are selling for (in your complex and nearby), ignore what others are asking...just focus on what they have actually sold for. Then try to figure out if the prices are still dropping. If the prices are dropping you want to be aggressive with your price.
0 votes Thank Flag Link Tue Feb 22, 2011
Hello Ducky,
Sorry to hear that your complex has not been able to sell its condos. I suggest that you price it below market value if you are financially able to do so. You might have a better opportunity to sell if you are the lowest priced condo in the complex. A real estate agent can assist you with marketing by taking quality photos and by creating a virtual tour to show on real estate web sites which should attract some interest. 90% of buyers begin their home search on-line.
Good luck to you!

Laura Feghali
Prudential Connecticut Realty
0 votes Thank Flag Link Tue Feb 22, 2011
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