Condo are a real issue right now. Most lenders want 10% or more down to purchase a condo. It is getting harder and harder for buyer to buy them. Most condo buyers can not get a FHA loan on them so this takes out a lot of first time home buyers. We use to be able to get a WHEDA loan on them but they are out of money. So I would say that because it is cheaper then rent it is that a first time home buyer might be who would be interested in it and they can't get a loan. All we can hope for is that things get better with this lender issue.

You have to determine if it's the market or your price and marketing.

Have other condos sold in Reedsburg in your price range? If not, then it's a strong indicator that your market has stalled.

If they have sold, you need to compare your condo to the ones that have sold. Did the buyer get a lot more property, for the same price, than they would get with your unit? Then you are overpriced.

If the other units truely weren't any better than your's, for the same price, then maybe you aren't marketing properly. Buyers are looking online for homes. The photos have to be well done and attractive to get them to set up showings. Your unit should be staged - not cluttered or over furnished, neutral decor, etc. Make sure your listing is syndicating out to sites like Trulia & Zillow, enhanced on Realtor.com, submitted to classified sites like craigslist.org and on MLS. Create a floorplan with a program like SmartDraw.

Good luck!

Hi, are you selling by owner, i.e. on your own?
Or is your property listed with a Real Estate Agent>?

First off it is a difficult market everywhere and in some areas worse than in others. What you need to do if you have not yet done so you must connect with an area Real Estate Agent, so that you can get help with two important items of information
a) a very detailed market evaluation of your current property, i.e. compare it to recently sold properties in you immediate area

b) and you may also ask the Agent for a general market overview, which should show you who you are competing with, because it may just be that competition that keeps buyers away from yours, either those other places are bigger, better improved in a different area, not sure as I do not know Reedsburg WI.....

Would you want me to refer you to a local Realtor or are you working with one.
Let me know if I can help in that way! Edith
edithsellshomes@gmail.com