Rose,

I really am not giving advice here, but while price is the easiest way to stand out in a crowd, there are probably other ways. One way might be attached to the first link below. The other two are a discussion and a blog on the program.

http://www.321advantage.com/

http://www.zillow.com/advice-thread/3-2-1-buydowns-vs-price-…

http://helpingufindaway.blogspot.com/2007/07/321-buydown-mor…

It is a tough market for sellers out there. When a seller counters an offer the buyer usually walks away because there are so many homes to pick from. When counter offering. Find out what is most important to the buyer and then leave that alone and counter on something else that is important to you, but not as important to the buyer.
for the repeat showings, what is the feedback? Anyone coming by for 2nd showings are interested. Have you considered writing and offer from you the seller to the buyer? Get the ball rolling.

Both those offers were very close, I think the true value might be around that number. I think 189k is about right, just be prepared to accept just about any offer you get now. The length of time on the market is going to affect your offers, you appear more over priced in the beginning and more desparate now. Buyers love getting a deal. Hang in there, your agent appears to be doing well for bring you contracts, you just can't help what happens from there. I have a beautiful rehab in Portsmouth we've had two offers come in, both first time buyers that got nervous about owning their first house. 30k in equity but if they back out, we let them.

We have lowered our price several times. We're looking at one more price reduction before we give up completely. Currently we're at $189990 (started at $210000 almost a year ago). The house across the street just sold for $196K. We don't think we can go much lower than $183990. The two offers we got were for $187000 and $190000. How low should we consider going?

Nearly ALL of the agents comments below mentioned one key factor - PRICE.

I agree with Jeff. It may be time to step back and take a real hard, unbiased look at the market and your place in it. Prices are on the way down in our area. The sooner you accept an offer the better off you'll probably be. Agent's don't like to admit that but take a look at the new "price reductions" option on this site. Prices are coming down.

Lower the price, it will sell.

Why are agents afraid to just tell you what to do?

BTW, Drew always has good advice.

Hi again Rose,
Definitely ask your agent to solicit feedback from the second lookers. These buyers obviously saw something that made them want to come back for another look, but then something made them change their mind about committing to an offer. You must know what that something was! There is absolutely nothing you can do about the foreclosed property in your area. The fact that they are driving prices down makes it very tough on the average homeseller. You just cant's compete with the low prices! Typically foreclosed homes are a mess. They are as-is sales, no appliances, holes in walls and need a ton of work. Good deals but the extra work, time & money out of pocket to go along with it. Make sure your home is turn key ready, perfectly maintanied and cosmetically clean. The home warranty is a great incentive. This will possibly set your home aside from the low priced fixer uppers. Again, there is not a thing that you can do about the schools either. You may consider digging up some accolades on the schools and making a little school info sheet to present at the house. I really like Drew's idea below. Doing the research about the garage is a great step ahead. This way you will have some educated ideas to offer potential buyers. The only downfall is that they may want you to come down on price to accomodate the cost of building the garage. But if it's enough to bring in an offer, then so be it! 4-5 showings per week is great traffic. That's also a lot of work for your agent in follow up calls. But it's her job and a very important tool in marketing your home. With small children in the house I know it's tough to keep things "show ready" and to be able to vacate for showings. But keep it up and do your best. Buyers understand life with kids and will give you the benefit of the doubt. Best of luck to you. I will be sending good thoughts of strong offers your way!

These buyers need to be sold emotionally on your property. Then they will overlook what you're missing. If alls your missing is a garage, go do your homework on permits, prices and package all that together with the house.

"Mr Buyer, I know you wanted a garage on this property, so I went ahead and checked into what it would take for the permits on it, and got 3 contractor bids. While it doesn't make up for a garage, doesn't it make you feel better knowing what it'll cost to put one in and that permits won't be an issue?"

Wham blam SOLD!

Only cost you time.

Yes, we have an agent. She does contact people and get feedback. The agent hasn't really contacted second showings like she does first ones and I thought maybe this was some kind of agent protocol so I will prompt her to do that and see why people chose other houses. Initially people complained a lot that we didn't have a driveway, so we put on in first of the year with our tax money. The other feedback we have gotten has been people want a garage, don't like the schools or picked a house that was priced significantly lower due to foreclosure. The first offer probably was our best offer and had interest rates been where they are now we might have taken it but that was almost a year ago and we couldn't afford what the payment would be on our new house with that offer and the interest rates at 6.5% then. We have now lowered our price significantly closer to that offer. We are offering closing costs assistance and a home warranty. We have decluttered and tried to get rid of most of what we don't need. I have 2 small children in the house so they have to have some toys and such. We are averaging 4-5 showings a week and my agent did have a agents open house and most of the feedback was good. Agents seem to love our house, or so they say, but buyers don't buy it and even the agents who show it say they don't know why. The house across the street just sold for $8K more than our asking price and the biggest difference is he has a garage.

Hi Rose. I can appreciate your frustration. Do you have the home listed with a REALTOR? If so, ask your agent to contact each agent that showed your home. They should get feedback from every showing so you know what both the buyer and agent thought about your home. Without feedback it's hard to know what they feel and think. I had a broker's open, where we get agents from within our company and competing companies, come view a property we have for sale and we provide lunch to them for coming. There I have survey sheets for the agents to state what they feel the probable sales price will be, what comments they have regarding the property, and what suggestions they have for our seller. You can get some great feedback from professionals who are on the streets everyday showing homes and representing buyers. I f I can help, don't hesitate to give me a should. Best of luck!
Candy C. Dennis, Sales Manager Long and Foster, Norfolk
757-623-2500 candy.dennis@longandfoster.com

Hi Rose,

Goodness that is most frustrating part about Selling A Home in today's market. Keeping it ready day after day, getting your hopes up each time only to learn that no one wants the house.

I hate to tell you this, however there is no way to sugar coat it. The first offer is typically your best offer. The first two weeks a home goes on the market is OPPORTUNITY TIME! It's fresh, new to the market and people are anxious to see it. They are afraid someone else will want it as well, so their agent will help them write and offer that can be approved. The fact is you have received two offers so far. That is excellent.

Remember whenever you sell a home you must sell it three times!
Once to the market, then to the buyer and then to the appraiser!

Right now...buyers are interested enough emotionally to submit an offer.

Sounds like you may be chasing the market down.

It's all about PRICE right now!

What feedback is your Realtor getting from the Buyers Agents?

Has your Realtor suggested a price reduction or a closing cost incentive to keep the buyers interest?

Have a frank conversation with your Realtor......

Rose, Do you have an agent? You, of course, would ask your agent first.
No agent? Then it's up to you, of course, to try to investigate.
What about the buyers who went on down the road, with agents or not? With agent you would call agent and try to find out what different house they actually DID buy. Compare to your house, neighborhood, square footage, condition and PRICE. If the interested buyers did not have an agent, it's kinda tough to pursue, most people don't want to be bothered, but again, you always want to make sure for all showings you have contact information.
Kind of difficult to advise not knowing all the information here. Please clarify and I will answer back.
KK

Hello Rose,
The fact that you are having steady activity is a really good sign. Now, like you said, you need to figure out why people are unable to commit. How is your relationship with your real estate agent? It sounds like he/she must be doing a pretty good job. The home must be priced fairly competitively and have good overall exposure if you are seeing good traffic. Have your had any consistent feedback from your agent? Your agent should be communicating in a timely manner with just about everyone who comes into the home, even if they are not interested in it. Soliciting feedback is an important part of a listing agent's job and you need to ask them for it! Feedback from the second lookers is even more valuable. Once you start hearing the same coments a few times, that means you need to take stock in the public opinion and make some adjustments. Another idea for you....I'm not sure how superstitious you are, but maybe it's time to tell the universe that you are ready to make this move. Start packing! Pack up some of your smaller personal belongings, things you don't use everyday, winter clothes, etc. Not only will this help the home show a little better, but it may be the cosmic kick in the pants you are looking for! Just an idea! Best of luck to you.

You may want to take a look at this simple blog post: Practical Advice For Home Sellers
http://www.trulia.com/blog/chrismabry/2009/05/the_four_p_s_p…