Home Selling in Harrisburg>Question Details

Meredith Yur…, Both Buyer and Seller in Harrisburg, PA

My home has been on the market since November. I had one person come out but didn't like how our yard is set up and one person cancelled All

Asked by Meredith Yurkiewicz, Harrisburg, PA Thu Feb 17, 2011

back in November and no one has even looked it it since. What can I do to make people come? I have dropped it down 2k. I can't go much lower because I need some money towards my down payment of my next house.

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Usually when you don't have many showings, it is a reflection of price. You may be "on the market" but not really "in the market." Are you working with an agent? What price did they suggest? Did they suggest lower and you wanted to list higher? I know the reaction is to list "a little higher so that there is room for negotiations" but I think that is a bad idea. Most likely you would just sit on the market longer and the longer you sit on the market, the more money it will cost you. I know you said you need to save money for your next house, but if you can't get rid of the current one, will there be a next house? I know it is hard and emotional. Even when I sell my own personal properties it can be difficult to take the emotion out of it and see clearly on what will get the job done.
BUT, remember real estate is regional so it is best to consult someone in your area who has info on the comps and such. I would hate to see you sit on the market 3 more months and then have to "chase down the market" with price reductions and such.
I wish you the BEST of luck.
1 vote Thank Flag Link Fri Feb 18, 2011
You are selling your home in a very storng Buyer's market. I encounter these types of questions constantly from my clients. The key is that you are competing with many other homes that are on the market. Have your realtor sit down with you and go over all of the homes that you are competing against. Setting a home at a higher price just so you can drop the price when an offer comes in is not the best strategy in this type of market. You say that you are alkso a buyer. Back away and think of what you arfe thinking as a buyer when out looking at homes. Are you willing to pay full price for homes that you are looking at? Are you expecting sellers' closing cost asssitance, etc. When you see a home that your agent tells you is over priced what do you do? Keep this in mnd when you set down with your Realtor. If you are over -priced for the current market then you need to bring your asking price more in line with reality. Good luck on selling & buying.
1 vote Thank Flag Link Tue Mar 1, 2011
It's a game... there is nothing wrong with your yard.. They are only going to redo it anyway. Tell them that's an easy fix with homedepot and walk away. Dont drop raise it 10K
0 votes Thank Flag Link Thu May 9, 2013
List it yourself The realtors dont want to spend the time or the money showing it Some have friends who are investors looking for a fast deal, Some are going to buy it for themselves and give themselves a commission ( after all they wrote the contract) I sold homes of my own with 4 sale by owner. The realtors will tell the buyer you really dont want that home it's too high.. .... wait you will get it lower after I make a deal with his realtor. The statement I hae is be realistic, Or you have to agree with me or I you are unfair to the buyer,,,,,Let me tell you I am going through this now . I decided maybe I was wrong so I hired a realtor. I am ready to fire them when they told me give buyers assist which means less profit for me. You can sell , get an attorney to do the settlement and save 25,000-40,000 depending on the price. The attorney charges a flat fee at settlement and could range from 600 -2000. Your going to need an attorney once the contract is made to make sure you are protected before you sign anyway.
The realtors work for themselves not for you. They rather make less fast and not more the old fashion way by earning it. The market excuse is called PANIC SALE and that is against the law.
0 votes Thank Flag Link Sat Aug 4, 2012
Your "NEED" for a certain profit is of no consequence to the Buyers:
You cannot break their hearts in your LISTING PRICE.
You KNOW that your price is too high, and you are justifying it to yourself.

As Dr, Phil would say; "Let us know how it works for you."
0 votes Thank Flag Link Sat Aug 4, 2012
Do not listen to get a fast deal Realtor, find one who will work with you or go and get a sign at walmart and sell it yourself. They will tell you I am the top seller in this area when they may have sold one property with a buyers assist where you lose 6% more from your agreed price. Dont give home warranty. Get yourself a attorney who deals with Real Estate. Have him write up the contract.
Many Realtor want you to keep lowing the price to make a fast deal You end up in the red lower then the price you bought it for. I sold homes by Owner and saved.
They dont like the yard ,, they can fix it up as they like, No home is going to be perfect unless you build it yourself and if you have a contractor it will be even less perfect unless you inspect each nail and stud.
Get someone who will work with you if you need an Realtor not against you.
0 votes Thank Flag Link Sat Aug 4, 2012
I'm not expecting someone to pay more so I can have a down payment. I feel I'm priced fair. We did run comps for the area and were priced good. I guess do to not having the best location doesn't help. But don't most people use equity in their home to put towards their next home? That is what I was trying to do. We did a lot of work to our house and it seems I won't get that back since the home is probably worth what I owe on my loan. Thanks for the advice.
0 votes Thank Flag Link Sat Feb 19, 2011
Keep in mind that no buyer is going to pay extra so you can make a down payment for your next house. If your property is being shown but you get no offers, the market is telling you something: you're overpriced. Again, it doesn't matter how much you need for a down payment, the only thing that matters is whether or not your asking price is within the market or not. This is not a market to start out higher to have room to negotiate. Maybe it's not the right time for you to sell and it makes more sense for you to wait until the market starts appreciating again.
0 votes Thank Flag Link Sat Feb 19, 2011
Ask your agent to do a FRESH comparative market analysis. What has sold since you originally listed? What are new competitors?
0 votes Thank Flag Link Sat Feb 19, 2011
Ah...being next to the plant may be an issue but everything has an answer. We once sold a home next to a Nuc Plant! Yep...we bought it b/c we knew about it, were educated about it, and it didn't bother us. We didn't think we would be moving again so resale wasn't considered. Well, life throws you curves! We priced it well and sold it...But I am sure we didn't get as many showings b/c of that plant. Hang in there, be honest with your agent, and think about just ripping the band aid off...it will hurt for a minute but feel great over time! Good luck!
0 votes Thank Flag Link Sat Feb 19, 2011
Thanks again. I'am working with a realtor. We did price it higher for room to go down. I'm not in the best location. The homes where I live are cheaper and I'm next to a sewage plant. But the house is nice. Remodeled everywhere. I'm guessing price and location. I'll check out the links. You guys have great info. I'll have to see what I can do with dropping the price more and having my down payment money as well. I'm meeting with my realtor today.
0 votes Thank Flag Link Sat Feb 19, 2011
If you google reasons why houses don't sell, you'll find the following reasons -- so figure out which one you can do something about. See http://articles.moneycentral.msn.com/Banking/HomebuyingGuide…

1. Your home is overpriced (Most common reason -- sellers always think their house is worth more than the market or potential buyer thinks it's worth)

2. Your home doesn't "show" well (add to that "smell"....unwashed laundry? cigarette smoke? mold/mildew? cat/dog poop/urine? exotic food?)

3. You're in a bad location

4. You have a lousy listing agent (do you even have one?)

5, You are battling competition or market conditions --- (if you're surrounded by short sales and foreclosures, you have even more of challenge since they're probably priced less or more competitively than yours)

6. You have ineffective marketing (how are you reaching your target audience? Are you advertising online? Do you have a lot of good pictures? Virtual tour?)
0 votes Thank Flag Link Fri Feb 18, 2011
The best person to ask is your Realtor(R) if you are working with one. They best know the market in your local area and what your home will probably sell for per square foot.

If you are not getting showings, it probably means that the property is just priced above what consumers deem market value.

All the Best,
Tina Ciaccio
LaBarre Realtors(R)
Web Reference: http://www.tinaciaccio.com
0 votes Thank Flag Link Fri Feb 18, 2011
Don't rely on any online comps, oftentimes they are not up to date nor accurate--for accurate comps ask any local agent for the information, or consider hiring any local professional appraiser.
0 votes Thank Flag Link Thu Feb 17, 2011
Thanks for answering. I'm priced right for the area. We checked the comps before putting it on the market. I have checked the comps on this site and to me it seems were right on target. I guess since nothing is going on I might have to lower it some more.
0 votes Thank Flag Link Thu Feb 17, 2011
A home is worth what someone is willing to pay for it; it doesn’t matter what the seller needs or potential buyers can afford to spend. Market conditions do matter as does the immediacy for a transaction to take place. In setting a price, it is in the seller’s best interest to focus on the current market conditions--review comps--recently sold similar properties in the immediate area, if you are not competitivily priced with other area homes, adjust accordingly--especially if you need, are ready and want to sell....
0 votes Thank Flag Link Thu Feb 17, 2011
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