Home Selling in 28117>Question Details

HopelessinMo…, Home Seller in Mooresville, NC

We have had 20 showings,4 price reductions, and no offers.Is there something we can do?

Asked by HopelessinMooresville, Mooresville, NC Wed Dec 2, 2009

Help the community by answering this question:

Answers

17
If you have an agent, see if you can find out the following:

1. How many other homes (comparable to yours) have sold in the last 90 days in your neighborhood?

2. What did those comparable sales actually sell for (per. sq. ft.)?

3. Where there any seller contributions/incentives on those sales?

4. How do the comparable sales compare to yours (amenities)

5. Review all available data (incl. photos) of the sold homes and objectively determine if your home is priced properly and if the condition is equal to or better than the homes that sold.

6. If you have a professional agent, he/she should be able to give some insight as well.

This will give you a starting point in figuring out what is going on. If nothing else is selling, then you will have to be create your market by being creative (owner financing, offering incentives, etc.). If other homes are selling, then something is not in balance on your home (price, terms, condition, location or exposure).
Web Reference: http://www.phgbrokers.com
1 vote Thank Flag Link Wed Dec 2, 2009
What kinda of feedback are you getting from the agents and buyers who come through the door? You my need to lower price
0 votes Thank Flag Link Mon Feb 23, 2015
Have you asked your Realtor this yet? They should be helping you and guiding you every step of the way. They should acknowledge your concern and be able to give you all of your options. If you do not feel they are doing everything they can for you, you should consider listing with a new Realtor when your contract expires.
0 votes Thank Flag Link Thu May 3, 2012
Unfortunatley for the sellers, you have to list very competitively with the market!! This is a crazy time in real estate right now and more than anything... its PRICE! Nothing about LOCATION, LOCATION, LOCATION anymore!! Ok, maybe a little bit but price is the winner in the game now. Good Luck!! I hope you have sold or will sell soon!! Who knows, you may be one of those lucky ones that are getting multiple offers!!! Hang in there!!!
0 votes Thank Flag Link Wed May 2, 2012
Offer a strong finance package witht he deal...its all about payments!

Brad@themortgageplanner.net
0 votes Thank Flag Link Wed Apr 18, 2012
What is the feedback you received from those that did view your house? You are likely competing with other homes in your area on the market, so yours needs to look better. Most buyers want a house that is updated and move in ready. Most sure yours is presented at its best.
0 votes Thank Flag Link Mon Dec 21, 2009
I have not seen your home, so this question is difficult to answer. Typically there are three reasons homes do not sell... location, price, and condition. I recommend having your agent do another market analysis for you to determine you market placement. Also walk thru your home as if you are the buyer. Review the condition of the paint throughout the home, review the landscaping and the staging. If you see something you would not like as a buyer, change it.

Bob Weidinger
704-241-9543
0 votes Thank Flag Link Wed Dec 16, 2009
Many factors come into play, ask you listing agent request the DOM which should provide you a bench mark.

You can have perfect home, great location, nothing wrong can remain on market for years, then have an ugly house with bidding wars go figure.

National Featured Realtor and Consultant, Texas Mortgage Loan Officer, Credit Repair Lecturer
Follow me on Twitter: http://twitter.com/Lynn911
Lynn911

http://www.lynn911.com
0 votes Thank Flag Link Fri Dec 4, 2009
A home is worth what someone is willing to pay for it; it doesn’t matter what the seller “needs” or potential buyers can afford to spend. Market conditions do matter as does the immediacy for a transaction to take place. In setting a price, it is in the seller’s best interest to focus on the current market conditions in conjunction with general economic value projections over the next six months. Such projections are useful in the negotiation process and when cited in the seller’s interest will yield the best selling price.
0 votes Thank Flag Link Thu Dec 3, 2009
Forgot to ask. 20 showings in how long on the market? 20 showings in 2 weeks would be great but has it been on the market 6 months and 20 showings because then I would think differently.



Sean Dawes
Web Reference: http://www.SeanDawes.com
0 votes Thank Flag Link Thu Dec 3, 2009
Without seeing the property, it's hard to say exactly what the problem is. But remember that any house that is staged properly, priced properly & promoted properly will sell. The fact that you're getting showings indicates to me that the price must not be too far off, or no one would come to see it. My guess is there's something about the house itself - be it the staging, location, or something else that is making potential buyers decide not to make an offer. Your agent should be able to help you determine if your pricing is correct based on the comps & also how your home's condition & presentation compares to the competition. Good luck!
0 votes Thank Flag Link Thu Dec 3, 2009
The truth is in the numbers.

The fact is that homes are selling. Your agent's job is to educate you are what homes are selling, at what price, and under what terms. Time is of the essence.

The longer your home sits on the market, the greater the gap between the asking price (list price) and the selling price. You are hurting yourself by not pricing your home correctly.

In my MLS, homes that sell within the first 30 days, when there is the most interest, is 100.3%. After 120 days that gap is 96.7%, and that is AFTER price reductions.

Good luck.
0 votes Thank Flag Link Thu Dec 3, 2009
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
Contact
Price reductions don't mean anything. The important thing is that you are getting showings. If after getting showings you are not selling it's probably becaues your house is not appealing to the buyer's emotional hot buttons.

Here's what should have been done before putting your home up for sale....

1. Prepare the home to sell. This means go out to the front of the home and look at how the property is viewed when buyers pull up on the sidewalk. Is you lawn neatly mowed? bushes trimmed? You could get some flower pots and add color to the front of the house.

2. Take care of the front door area. This is where buyers hang out waiting for the door to be opened. Make sure there is no leaves, dirt or anything of that sort.

3. Declutter the house. Go to a home builder nearby and see how they stage the home. Notice they'll have 3 books in a shelf that would hold 10 books and they only use 20% of the available storage place. Smilarly you should pack half of the clothes on your closet (whatever you don't use) and take them to storage.

4. Declare war on dust. Having clean, shiny baseboards, blinds and ceiling fans is something home buyers notice.

5. Re decorate if necessary. Since I don't know what your house looks like, I can't tell you what to do here. This is just basically making sure that your home is decorated so buyers like it not so you like it. This is the one most home sellers resist me on, and it's the one that makes the biggest difference in the majority of cases.

I know there's plenty more, but that's all that comes to mind for the time being.

Jorge
0 votes Thank Flag Link Thu Dec 3, 2009
Hopeful,

The 20 showings is a very positive indicator that points in the direction of you home having appeal. The fact that you have had no offers may be a reflection its price and/or condition.

The fact that you have had 4 price reductions is of little concern to today's buyers....especially if it was "over priced" from the beginning. We recomend having an appraisal done by a licensed appraiser and listing it at or below that amount. This no doubt, would be true reflection of the current real estate market for your specific home.

Best wishes,
The Eckler Team
0 votes Thank Flag Link Thu Dec 3, 2009
Make sure your home is staged well, How does the price compare to the others in your neighborhood if any is listed? Unforunately we are in a economy with no jobs available and this makes it harder to sell any homes. There are many other people in your same situation. Offer some incentives if you have not already.
You will just have to have patience and ride out the storm ! If you are having trouble making your payments , you need to talk to your lender and see if you need to do a short sale. Have real good curb appeal in your front yard so it is inviting. You cannot give up hope , spend each day doing something to spruce up the house.
0 votes Thank Flag Link Wed Dec 2, 2009
Your home will sell when it is priced right, staged well, in good condition, and marketed properly. In my opinion those four things are needed to sell a home. If you've had a number of showings since the last price reduction and still nothing then buyers are not recognizing that the house is a good value.
Web Reference: http://www.eathompson.com
0 votes Thank Flag Link Wed Dec 2, 2009
Well is it really priced right now? What kinda of feedback are you getting from the agents and buyers who come through?



Sean Dawes
Web Reference: http://www.SeanDawes.com
0 votes Thank Flag Link Wed Dec 2, 2009
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer