Hi Susan,
I know it's hard to not get anxious when you have your home on the market. Things are moving slowly in the Condo market in Edmonds. There are been only 3 sales in as many months for condo's that are similar to yours. All had been on the market for over 204 days. The average sales price was $181,033.You're in the middle of the road for pricing. There are 5 active condo listings in the 180,000 - 199,999 price range that that have 2 bedrooms and at least 1 3/4 baths. Two are priced slightly higher than yours and two are priced slightly lower. If you are having good traffic you probably aren't off the mark by much on your price. What kind of feedback are you getting from those who look?

Hi Susan,

Yours comes up as the least expensive 2 bedroom in the immediate area. But two months on the market is not long compared to the competition. Many have been on the market for over 3 months and some for over 6 months.

Ask these question of your agent and ask him to provide documentation of the market activity in the area - number of solds in the last six months, pending, how many are active. It seems at first glance that you are competively priced. However, yes, because prices and interest rates are low, some buyers are opting for houses rather than condos. Some are opting to get condos closer to, or in, Seattle.

Your should be happy to provide you all of the data you need to decide what price will attract a buyer. But it may just take time.

Best of luck.

Mark

Susan........since you asked 3 very specific questions regarding your condo in Edmonds, hopefully a few agents from your area will be able to give you direct and appropriate answers.

Good luck........hope your place sells soon!
Debbie Rose

ps Cindi - your comment made me chuckle.....

Lynn...do you sell a lot in Washington from Texas?

Tammy is right. In addition not all condo developments are FHA approved. Around here if the HOA has first right of refusal an FHA loan won't be approved.. I know of one development whose HOA dropped that rule and had FHA loans approved since then.

Even if a development is not FHA aproved, a buyer can apply for spot approval which unfortunately won't work if that clause is in the HOA regs.

FHA is the loan "du jour" today with only 3.5% down. If buyers can't get approval you are losing most buyers who need a loan. Have your Realtor check recent sales and find out whether any obtained FHA financing. I would also call the HOA or look through your papers to find out whether they have adopted the clause "first right of refusal" Also ask your Realtor for feedback from showings.
Good Luck!

Listing agent is expert provide you answers to all your questions. Have they provided you DOM (days on market ) therefore you know estimated time of when properties are selling.

Any cond's sold since you listed what where price per sq. ft.

Many factors come into play for marketing a property,

GOOD LUCK GREAT QUESTION:

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Lynn911

I have family out in that area of Washington and it sounds like your market is really slow. They are so strict about lending right now and people are uneasy about the economy so it is pretty difficult to sell. Remember the competition is bank owned homes and short sales that are driving prices down. You may have to continue to drop the price until you get an offer then begin negotiations...