The house is a custom brick front on a huge corner lot on a pond in a prestigious upscale subdivision. It has brazilian cherry floors, crown molding, a finished basement with full bath, premium carpeting etc. and is 3000 sq. ft. We listed it at $420K and reduced to $399,900 last month. Our realtor was really lame and did nothing. I feel so discouraged. I'm afraid if we leave it on the market, it will devalue the home. We would like to sell this summer so we can move to another town with better schools. Now what do we do?
It sounds like you have already addressed price and marketing (or lack thereof). Consider consulting a local, professional stager. There may be changes you can make that would help the house appeal to more potential buyers. Best of luck!
Hola Sajit,
Don't' let them see you sweat! The real estate market in DeKalb is changing. To be frank, the homes are selling but not at the rate or price we would like to see. Everyone is looking for a bargain. I say if you don't "have" to sell; hang tight and re-list in the spring. If you "have" to sell it be prepared to reduce your price even more.
Hope this helps.
Connie Luce, Certified Builder Specialist
FLUENT IN ENGLISH / SPANISH
Multi-Million Dollar Producer
RE/MAX Experience
1430 DeKalb Avenue
Sycamore, ILL 60178
Direct: 815.793.9993
Fax: 815.895.0800
Email: homes@connieluce.com
Website: http://www.connieluce.com
My business grows from your referrals: they are needed and greatly appreciated.
The market has changed even in the short time your home was listed. I agree with the others. Interview other brokers and find the right match for you. I have seen a pick-up in activity in the Dekalb/Sycamore market as of late so that should be encouraging news. We are not under the doom & gloom umbrella as many markets are. Keep the faith.
Sajit,
Very good advise from the others. If your house is not on the market, you won't sell it this summer. Find a real estate broker you can feel good about.
What next? Lower the price or keep the house.
Brick front--do you mean only 1/4 brick exterior finish? If you are not still bound by your listing agreement with your broker, interview several other agents. Go with the one who tells you that your home was over priced at $399,900, and who has a marketing plan that includes a pricing strategy. BTW--Putting a home on the MLS and several Web sites is not a marketing plan.
Hi Sajit,
Well, take a deep breath and relax. Guess what, your going through the same thing a lot of other sellers are going through.
Interview a couple of agents. Ask how they would market the home, ask them to give you testimonials from their past clients. Ask about how they will work with you to get your home sold.
If the home is priced right and looks great it will sell. I know right now in DeKalb there are 25 homes for sale priced from 300k to 400k. Some of them are new construction. Can you compete with what a builder can offer?
Here's the remarks from the MLS sheet from new construction:
Remarks: SAVE ON PRE-CONSTRUCTION PRICING THIS KING JAMES BUILDERS, INC. RANCH HOME FEATURES A LARGE GREAT ROOM OFF THE SPACIOUS KITCHEN AND THREE LARGE BEDROOMS WITH A LUXURY MASTER SUITE A SCREENED IN PORCH AND A FULL 9' BASEMENT WITH A ROUGH-IN FOR A 3RD BATH A FIREPLACE HARDWOOD FLOORS MAPLE CABINETS AND GRANITE COUNTERTOPS, STAINLESS STEEL APPLIANCES - REMEMBER BUYER THIS IS STILL PRE-CONSTRUCTION YOU MAKE THE CHOICES $$
Good Luck,
Deana
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