Home Selling in 55110>Question Details

Linda Burke, Home Seller in White Bear Lake, MN

My house isn't selling

Asked by Linda Burke, White Bear Lake, MN Wed Jun 18, 2008

I have had it on the market for 8 months. Feedback is always positive but 'small bedrooms' is the problem. Beautiful remodel, all updated, priced right but small bedrooms. I've had 2 close but no offer. Both got contractors bids for an addition. I don't know what to do next....

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BEST ANSWER
Linda,

There are three factors that will determine the salability of your home.

Price
Condition/Location
Marketing

All three factors must be appropriately balanced in order for a home to sell. They are based on an inverse relationship, so if ones moves in a positive or negative direction, one or both of the remaining factors will need to adjust in the opposite direction.

I would look hard at your price. Downtown WBL is a very desireable area but you have been at the same price for 8 months. It also seems like you did a bit of work on the house, you may have also overcalculated the value of that work.

Please let me know if you would like me to take a look at your home and give a more detailed opinion. I work with the White Bear Lake office of Coldwell Banker Burnet.

Cameron Piper
Web Reference: http://www.campiper.com
0 votes Thank Flag Link Wed Jun 18, 2008
Your property is overpriced for what people want and are willing to pay. It's not priced right, or it would have sold. However, before you start cutting your price by 10% or more, look into some other options.

You don't say how many bedrooms you have, or what their sizes are. Short of actually enlarging them, bring in a home stager. There are any number of techniques and strategies you can use to make a room look larger. For instance, if the room is furnished with large, oversized furniture, get rid of that. Put in smaller items of furniture. There are even lines of slightly reduced-size furniture for situations such as yours.

There are other things, too. If you have enough bedrooms for sleeping, stage one as an office. An 8x10 room would be pretty small for a bedroom, but can look perfectly fine as a home office, or even an exercise room.

If the rooms are empty, get some furniture (small furniture) in them. Empty rooms look much smaller than rooms that are properly furnished.

If the rooms have windows with any sort of view, play up the view. Use minimal, attractive window coverings. But let the light in; make the rooms open and airy. And with any sort of view, play up the view so much that when someone walks into one of the bedrooms, the first thing they notice is the great outdoors.

Those suggestions just scratch the surface. A good stager will have many other things to do to improve the saleability of your house.

Hope that helps.
2 votes Thank Flag Link Wed Jun 18, 2008
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
Contact
There is a buyer for this home.
Be sure that you have the right agent and they are giving you good feedback.
Identify the issues, and do what you can about it, if possible, small bedrooms is a tough one, but talk up the good things about the property, and most important, Price it right.... or we will hear from you again in another 8 months... best of luck to you and I hope to see this house SOLD!
0 votes Thank Flag Link Sun Nov 17, 2013
try and offer contract for deed financing that usually brings a lot of action. to view homes cd or information go here. http://wwwmnhomescontractfordeed.com
0 votes Thank Flag Link Sun Nov 17, 2013
your agent is your best resource, sounds like offering a contract for deed option might solve your problem, a lot of buyers, not enough sellers.
0 votes Thank Flag Link Sun Nov 17, 2013
You are correct lower the price or offer owner financing would be the best way if you can hold on to the home for a few years. http://www.mnhomescontractfordeed.com/ramsey-county
0 votes Thank Flag Link Tue Jun 12, 2012
As Floyd Wickman, the real estate sales trainer says, there are two things you can do to make your house sell faster. Change the price or change the location. I'm not trying to be flip but if you've done all the cosmetic things you need to do, rather than spending a lot of money on an addition, why not just lower your price instead? I know it hurts to do it but sell it now and move on to your next home.
Web Reference: http://www.mikesnearly.com
0 votes Thank Flag Link Tue Jun 24, 2008
There are only three things that are under your control - PRICE - PRESENTATION - PROMOTION, the three "P's" of real estate.

Since you have had lots of people in the house but have come up a bridesmaid on two occassions, we can probably rule out promotion as the problem. Any sales problem can be solved with a lower price. However, you may be able to make some changes to the problematic bedrooms to either eliminate or reduce the need for a price reduction. Is there more furniture in the rooms than is comfortable, making them look too small? Are the bed sizes appropriate for the rooms. Dark or bold wall colors make a room look smaller and light colors make it look larger. Busy wallpaper makes it look small as well. Are the blinds and draperies open for showings letting in natural light? Do light fixtures illuminate the room sufficiently? Ideally you want one continious floor covering through the main areas of a home. Scatter rugs, dark colored carpets and too many style breaks in floor coverings make rooms appear smaller as well. Too many thngs on walls will also shrink the size of a room. Collections, knick nacks and personal photos should be packed away as well. You may benefit from the services of a professional stager looking at these rooms to make specific suggestions for your home, or from an agent who does staging. If none of these suggestions apply to your rooms, the only option left is a price reduction. :-(

Best wishes.
0 votes Thank Flag Link Mon Jun 23, 2008
Go to http://www.GetHomeValues.com and enter your homes info. They will give you an idea of what is selling in your area and you can determine if price is an issue.
0 votes Thank Flag Link Fri Jun 20, 2008
Linda
How many homes, like yours, have sold in the last 8 months? For what prices?
The reason they picked other homes is because they offer more value to buyers. Ask your Realtor how you can add more value to your home (one way is lowering the price)

In most markets it takes 10-12 showings to get one offer. If you are getting showings and no offers, you price is too high?
0 votes Thank Flag Link Thu Jun 19, 2008
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
Contact
Linda: I think you would have much better luck selling if you lowered the price than to market to singles. Such direct marketing is hard to do but if you want there are companies that provide lists of people based on parameters and not married is one of them. Your agent should know how to get that. Otherwise my opinion is that people say the price is ok because the house is good condition compared to others in that price range they are just not interested because of the small bedrooms. If you lower the price the house will stand out because then buyers will look at it and compare it other similar priced homesm, which theoretically will be not as nice.
Web Reference: http://www.lennyfrolov.com
0 votes Thank Flag Link Wed Jun 18, 2008
I do have an agent. I have decluttered and staged my home. The confusing thing is all feed back raves about the home and say it's priced right. The only negatives are the bedrooms are small. One measures 11x14 and the 2nd is 10x11 and there is one bath. The house is 1100SF. We have gone through 100's of flyers and had open houses 2x a month. It's a perfect house for 1 person but not priced to a first time home buyer. How would I market to singles?
0 votes Thank Flag Link Wed Jun 18, 2008
Hi Linda!

You are in good company in WBL with having small bedrooms. Many homes in that area of the Twin Cities do have smaller rooms.

Have you decluttered the bedrooms to make them appear larger? Maybe consider consulting with a stager to rearrange the furnishings to make the rooms appear larger during the showings. If you do decide to hire a stager, don't forget to have your agent come over and put new photos online so that everyone can see!

Good luck!!
0 votes Thank Flag Link Wed Jun 18, 2008
Linda - I forgot to ask if you are under contract with another agent. I just assumed that you were. Are you under contract with a real estate agent, as in they have your home listed? If not it looks like there are some agents here that could do a good job for you.
0 votes Thank Flag Link Wed Jun 18, 2008
Your agent is your best resource. Sometimes agents make suggestions but sellers don't want to do what the agent suggests. It would be in your best interests to keep an open mind regarding suggestions that make sense. As far as why it hasn't sold, I can't disagree with my colleagues here....it always boils down to price.
0 votes Thank Flag Link Wed Jun 18, 2008
Hi Linda,
Don has some very good ideas as far as staging goes.

Not knowing the specifics about your home, it's hard to say exactly why it isn't selling. However, a home will typically sell at the right price. A really good article about what your house is NOT worth can be found here:

http://www.realestateradiousa.com/blog/2008/05/24/what-your-…

Having practically the exact same qualifications as the guy who wrote the article, I completely agree. Your house is only worth what an educated buyer is willing to pay for it. Look at recent sold listings (pending and active don't carry any weight) and see what homes just like yours are selling for.

Good luck - I hope this helps you out.
Web Reference: http://www.myhome.tc
0 votes Thank Flag Link Wed Jun 18, 2008
The first thing you should do is ask your agent for advice.
0 votes Thank Flag Link Wed Jun 18, 2008
Linda, price overcomes all objections. You need to be aggressive with pricing if you want to sell. If you reduce your price, make sure it is a large enough reduction to get noticed.
0 votes Thank Flag Link Wed Jun 18, 2008
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