The sad realty of this is we are in for more of it as hundreds of thousands of loans are still to go into default creating the largest number of bank owned properties the nation has ever seen. Anything will sell if its competitive so you may want to have someone look at your house who knows the market---not only REALLY whats out there, but whats going to hapen in the near future. Just checking our Multiple Listing Service for comparabes to come up with a listing price doesnt cut it anymore.
Marvin Von Renchler
Just like in any industries, the level of expertise provided by one agent differs substantially from another. You need to sit down with your current agent to find out exactly what they are doing for you. At this point in the listing process, you should contact other agents to see what they would do for you. I can assure you that the difference can be huge...
1. Have your agent take your home off the market for two weeks, have him/her pull fresh comparables and come back on at 3-5% below your competition.
2. Another incentive is to talk to your lender and ask what it would take to buy a permanent 3.5% 30 year fixed interest rate and offer that as an incentive to the buyer.
3. Get with a professional home stage person and remove your clutter from the home - add a coat of paint - clean the carpets.
4. Offer to pay a years worth of HOA dues
Hope this helps
Tigard is super soft. Sorry but all the Morisette specials on Bull Mountain that were sold a few years ago are in the low $100's per foot and they are not all that bad. There is a softness here that we are fighting. There are sales but it is at low prices.
Price, Product, Promotion. Look at how you are doing in each of these areas as it is all that can be controlled. Right now it is all about the price. But a good agent can make all the difference.
This is something we need to work out... but I am thinking we may be in the middle of a second price hit or double dip.
You can call or email any of us to help you. The point is we are all in this together.
Best wishes to you Frogs!
Your reply doesn't apply to every case. We are focusing in Oregon and so does Martin. May be in Tigard the prices held still since 2008 but I doubt it. If you see Deschutes county prices have fallen between 50 and 60% (yes, SIXTY percent) in the last 2 years. It doesn't matter how the pictures look like if your house that you bought for 300K is in a neighborhood where the next door similar house is offered for 125K
Tom Inglesby, Broker
RE/MAX Equity Group
As I see the current market nationwide I have come to the conclusion that until the lending pendulum returns to the middle and banks start actually lending money to homebuyers again this will continue to be a slow market for real estate. The no money down debacle resulted in lenders go to the other extreme of being too conservative. Best of luck to you.
Tom Inglesby, Broker
RE/MAX Equity Group Inc.
As for condition, it should look as close as possible to a model home. Declutter (clear counters, cabinets, closets), depersonalize (put away excessive family pictures, so potential buyer can visual himself/herself living in the house), dramatize (afghan across sofa, open book on reading table, fresh flowers, music, scent of vanilla in the air, paint inside and out, yard manicured). Don't defer items that need maintenance. Spotless and clean "wow's" buyers everytime. Ask your Realtor about staging your home to accentual the positive and downplay any negatives.
Marketing is the Realtor's job. No stone can be left unturned. Internet, Realtor's website(s), company website(s), local Multiple Listing Service, other brokers notification through open houses, flyers, emails, word of mouth, public open houses, attractive yard signs, visual tours, etc. If it's priced right, in top condition, and marketed well, it can't help but sell. You control these variables. Take charge and get it sold!
You need to make sure that if you are marketing this home traditionally; that you look at what features your home does or does not offer, it's not always about price per square foot. If you are in a bind for time we do offer a solution for that problem. We are a National Franchisee for MarkNet Alliance and offer the Auction method of Marketing.
Tom Inglesby, Broker
RE?MAX Equity Group inc
Portland, Or 96239
We decided to refinance for now and maybe sell in a few months or turn it into a rental. I will say that being in the industry and having access to Home buyer marketing kept me updated on every single home and notified me every time a house came on the market, or if price changed, if photos were added, or if the home sold. Showed me what I was up against. It also shows me all the homes that have sold in the past 12 months and for what price. I'm not realtor and am not trying to sell you anything. This is totally free and there is absolutely NO obligations to me. I also would be happy to work up some flyers for you with some loan options with payment examples that could bring some buyers to your home. This is free as well. Again I do not expect anything in return. Please feel free to email me at email@example.com or you can call me at my office at (503) 624-4706. Good Luck!
- check the internet sites;
- try to get hold on the MLS listing and see if anything is not right there;
- have a friend call your agent and inquire about the house and see if all is well: agent is easy to get hold on; ready to schedule showing asap; speaks well of your place.
If all of the above turns out well, may be it's just not meant to be sold right now - who knows what life got in store for you?
Good luck and may you get your wishes.
How many homes, like yours, have sold in the past five to six months?
Why didn't your home sell?
Because the buyers thought that the other listings offered more value. So you either need to lower the price, or offer more value. If the market is declining (and most, but not all, are) the longer your home sits on the market, the less you will receive.
The rule of thumb, in almost all markets, is that homes that sell in the first 30 days sell closest to asking price. Homes that sit longer, sell for less.
If you are serious about selling, you need to price it UNDER market price. The market will not let your home sell for under market.
Second, check to make sure your property is being aggressively marketed. Just putting it on the MLS isn't enough. Review your agent's marketing plan. What was promised? What's being delivered.
Hope that helps.
Go online and try to find your home on Trulia, Google, AOL, Connect2Homes, Hotpads, etc. If you're not finding it on all those sites, your agent needs to get it out there!
The Fugate Group, Inc.
Keller Williams Realty Southwest Portland
It might be your price and it might be your marketing.....it might be that the home lacks some features that buyers are wanting. I would recommend interviewing some agents in regards to a fresh start and asking what they can do to market the home and get more showings and exposure. It does not sound like your price is out of line for that area.
Also it is worth having a discussion as to where you are headed in the next move and how important it is to get there. No showings = NO Sale and so I would have to advise you to look hard at these factors as the reality is that you may not be able to sell this year if things don't change.
I manage the #1 Re\Max team rated by Re\Max in Oregon. We are selling homes and it is an all out war right now to land that buyer. We are 24-7 vigilant and get feedback from every showing so we can try and land the buyers whenever we have a shot at them.
Anytime you need my help personally give me a call on my cell at 503-799-8383. I am one of a few realtors that have lived through this same type of marklet in the early 1980's. We can help you from here if you desire.
Best wishes to you Frogs!
Re\Max Hall of Fame
#1 Rated Re\Max Team in Oregon