Home Selling in 41001>Question Details

Kelli Estep, Real Estate Pro in Fort Mitchell, KY

Trying to Sell Quick... NO Showings in 1 month after being on the market for 2

Asked by Kelli Estep, Fort Mitchell, KY Tue Mar 30, 2010

We had 1 house that was our exact house for sale that sold for 3,000 higher and closed this month. So we do not have any competition right now in the neighborhood other than the builder itself. What can we do to attract people back to our house now that it has been on the market for 2 months? We really don't have much room to lower the price other than having to take money from our bank accounts which is not really a solution for us, but we want this sold in the next few months. We have fixed the outside up for the spring and have a 3 yr old home that is 3000 sq ft 4 beds/2.5 baths with one of the largest lots and location near all lakes & the neighborhood park

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First of all..the market is brutally honest. If you have had your home on the market for 2 months and no showings in the last month...there really are 2 factors in play here. First...you cannot compete with the builder...He/she has brand new product to sell with upgrades if need be, as well as anything else they might want to throw in to help close the deal. The 2nd is price...Even in this down market..If a home is in a good location...priced right..it should sell sooner than later. That being said, is your Realtor on the internet? I mean with a top ranked website..one that people will see when they search for a home in your area? The MLS is great, but the more places your listing is seen...just better marketing...Please visit my 2 websites to get a better idea as to what I'm talking about. http://www.cincihomesforsale.com and http://www.sandybakst.com
If after another month or so..talk with your Realtor about their marketing...or lack there of. Good Luck.
0 votes Thank Flag Link Tue May 18, 2010
All things being equal...lower the price. I wish it was more complicated than that, but it's usually not.
0 votes Thank Flag Link Tue Mar 30, 2010
Dear Kelli:

Is your house listed with a Real Estate Agent?, if this is the case I would suggest doing a review with your Realtor in reference to the showings that were generated in the first month and determine which were the feedback.... If the topic was the price, you should definitely work on it, if you really want to sell your property and most importantly increase advertising promotion for the sale of your property. today there are many websites where you can promotefor free, open houses, flyers, etc.

I wish you the best and good luck with your sale.

Cecilia Stevanoski
Realtor Associate
560 60TH ST, WEST NEW YORK, NJ, 07093
0 votes Thank Flag Link Tue Mar 30, 2010
If you had no showings in the past month after being on the market for 2 months, and if you had no offers, then most likely your house is not being marketed properly and/or your house is priced too high for the market. The line "we have to get at least $x for this house" may be holding you back. What you want or need the house to sell for is irrelevant. What's relevant is what the market will bear.

If you're competing with a builder of similar homes and if your house is priced similar to those homes, they will sell before yours will. Why? Because they're new. The builder may also be offering concessions to induce a sale. As he could be your primary competition, you should find out what he's selling his homes for, and what concessions he's offering.

You might want to consider offering an inducement such as "free home warranty for 1 year" or "we'll pay the first year of property taxes." You can also offer to pay closing costs in exchange for a full price offer.

If you had any offers, then you should considering lowering the asking price to that of the highest offer received.

There are other options I'm sure, and you should discuss them with your real estate agent.
0 votes Thank Flag Link Tue Mar 30, 2010
Pricing and marketing are paramount in today's market--what is your agent advising--no showings and no offers often suggests a price correction is needed--make sure your house shows well, is neat, clean and clutter free--and when you do have visitors make sure it shows as a property to remember. If all else fails and can prove hardship to the lender you may wish to consider a short sale or try a loan modification. Your agent can advise you best.
0 votes Thank Flag Link Tue Mar 30, 2010
Right now the market is full of bargains. To sell a house you'll have to convince buyers yours is the best deal. Not necessarily the best price, but that they will get something with your house they'd miss out with a cheaper one. Maybe that's as simple as a home warranty or a paint/carpet allowance.
Your agent should be able to tell you if something is needed. But, right now the market is tough for sellers. It may come down to lowering your price.
Web Reference: http://www.monicahess.com
0 votes Thank Flag Link Tue Mar 30, 2010
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