And there is nothing wrong with that... but why, why, on earth would you put yourself through that?
The market will be back in @ 2010. Hold out if you want your price.
If you need to sell or if you want to sell to take advantage of the incredible buyers market...
Bargain price your home and move on with it. Otherwise... take it off the market.
If this is the problem, fix it. Consult with several contractors and get some ideas on what can be done that will be both appealing to the eye and more realistic for potential elderly buyers. If you can't financially fix both of the entrances, try doing the main entrance at least. I doubt it will be a huge investment. Compare it to potentially paying insurance, taxes, and mortgage (if you have one) for another year.
I'm wondering, could the size be a problem too? In my area, Southeast, elderly buyers are typically searching for 1400-2200 SF...
There are some GREAT suggestions here.
The one point I would make is that ANY home will sell at the right price.
I would ask you agent to ask the buyers' agents, who have shown the property, if the buyer's would purchase the property at ANY price.
Based on your post it appears that your property may have an incurable condition, meaning that unless that condition is cured, the home will simply not sell.
You do not mention your motivation to sell. Remember, every agent can see how long your home has been listed, and at what price. So we all know at what price the home will not sell. Buyers are looking for value.
I would echo the first post: consult with three Realtors, and have them provide you with a solution to your dilemma. Or, as one poster suggested, take it off the market and stay put.
Best of luck to you.
The best of luck to you..
A friend of mine, who had a very nice house with a steep staircase, took more than two years to sell the house. However, the staircase was made from pressure treated wood and made the (very nice) house looke like a tenament building from outside. My suggestion was to stain the floor boards mahogany and paint the raiing white and try to give it a cottage type look. He never did it. Eventually, it sold. The first thing the buyers did was paint the staircase exactly as I had suggested.
So it brings you back to your very first answer, and several after that. Address the stairs. If you cannot change the grade, if you don't want to spend the money on upgrading the staircase, at least make it as attractive as you can with paint and plants, etc.. If it is steep and narrow, well the price cut you will eventually take is more than the cost of a better staircase.
Re: demographics. It sounds like your buyers would be empty nesters. Young enough to handle the staircase but not a young family who needs 4 bedrooms upstairs for kids. So I woulld advertise it as perfect for empty nesters.
I used some Feng Shui books to help me figure out how to address these types of issues on my house.
I have an active listing like that right now.
The house is much bigger than it looks from the outside. At 4,700 SF it's much larger than what an elderly person wants to buy. It's been meticulously kept and in great condition with hardwood floors, granite. It is still not selling.
The sellers don't want to reduce either because the house across the street sold for $380 something...and in their opinion, their house is much better than that one. Sellers can have a biased opinion of their home. If the older ranchers are selling and yours is not there is a problem. Buyers may not think your house is as valuable. How much higher is yours priced? And, how long ago did the last 3 homes in your neighborhood sell and for what price?
I'm taking my overpriced sellers out tomorrow morning to show them their competition. There are 10-20 houses within a mile radius that are more desirable in the same price range... In this market, you have to be the best one out there..."best one" may mean the most desirable floor plan, most desirable upgrades, most desirable locaton, most desirable price....Buyers are picky: if your floor plan, upgrades, location, and price don't beat out the next guy...they'll buy the neighbor's house....
Again, how much more expensive is yours vs the older ones that sold? And, how long ago did the last 3 homes in your neighborhood sell and for how much?
What did your agent say was the problem with selling it?