I am not in your market area to tell you if your price is right, but if it's not, it doesn't matter how hard your agent works, the house won't sell if the price is not right. Compare your homes size, bedrooms, bathrooms, basement etc., to the other homes that have SOLD. Dont compare to those that are active because they haven;t sold yet...and who knows, maybe they never will. If it's been on the market that long, I would say it's overpriced. I would take it off the market for 30 days and when you put it back on make sure it's at the right price. Interview 3 agents and get their opinion of pricing. Do this even if you relist with the same agent. GOOD LUCK!

Thu May 8 2008, 14:34

First, get a new agent - call around, interview agents - don't just pick one from the phone book.

Second, Sweat Equity is the most valuable - Clean up, Declutter, Build a Fence (does not have to be big, just nice) - inside and outside.

Third, Check your price. Yes, the market is slow, adjust price accordingly.

When you find a motivated agent, let he/she know how much you have done so she can use it within the advertising/marketing. Ultimately, there should be a profit with a closed deal, so the harder you work - the more return to you.

Good Luck.

If you would like, I could call around in your area and interview some agents for you. Please let me know if I could help.

Thank you
Amy Olier
Realtor
Century 21 Bay South Realty, Inc.

Thu May 8 2008, 12:55

Hello Ajax

Well, what many here have already said is most likely true; is it priced right? I refer to it as mark to market. If your home has been on the market for a year, chances are it was priced poorly or you have a significant defect. Has there been any viewers to the home? If not, then price would most likely be the culprit. Here are some suggestions:

1) Make the home look nice. Do cheap if you haven't got allot of money. Keep the lawn mowed, trim as required, and put out a couple of pots of petunias on the porch = cheap splash.

2) Trim ditch behind house yourself if necessary. Chances are, no one will complain as they apparently forgot about it. The lot across the street is somewhat more touchy. Ask the city for help, look up owner in county tax records and send letter asking them to do it, or, last resort...mow it yourself.

3) Repair, caulk, touchup paint, as much exterior issues as you can. This requires more labor then cash. Big payback here. Wash windows too....people notice. Make front door look nice, and remove broken screen door if you have one and can't afford to fix it.

4) Make sure inside is clean. Paint with neutral (off white, cream, light beige perhaps) colors to add fresh look. Clean, and more clean. Emphasis around toilets, sinks, and tubs. Re-caulk those areas too - remember, caulk is cheap ;)

5) Stand back and look at home. Does it look nicer, or better then neighbors? If so, mission accomplished. Remember, you don't need allot of money for these things - just elbow grease.

6) Now, hire an independent appraisal from a person who specializes in doing that. if you can afford it. This is to help you have an idea of what price you can reasonable expect and then........interview at least TWO reality agents. Compare their CMA to your appraisal and ask them why YOU should HIRE them. What is it they can bring to the table that your current agent didn't. One answer on here suggested offering a bonus to the agent. I don't think this is always an answer as you may have just had a non-productive agent.

Please keep in mind: my suggestions are just that. You didn't give allot of information to go on. Heck, you may even be a hard nosed seller (which would impact an agents ability to sell your home). There has been some good advice in the answers put forth so far. Read them over, be realistic, put in some elbow grease and I'm sure you will do well. Remember - mark to market.

Walkin

Mon Mar 24 2008, 19:47

Ajax, Hello. I am not from your market area. I was wondering if you could elaborate on "motivated" vs "unmotivated" agent. What were your expectations? In what ways did he or she fail you? What motivated you to choose this particualar agent?

Also, regarding the neighboring property--I have had similar issues as a listing agent in representing a property. The neighborhood impression is important. Personally, I immediately start working in getting neighboring properties cleaned up. If you do not know who the owner is, your agent can find out. Then, depending on your situation, contact the owner or city/county officials to get progress going. Sometimes absentee owners do not realize that their property is bringing down neighborhood values. In a situation I had, the neighboring property owner was Active Duty/Iraq. I simply started questioning and talking to people. One day I drove by and the property was neat as a pin. I still don't know if it was the Seabees or volunteers. You can get this issue taken care of and end up being the good guy. Do you have an MLS#?

Sun Mar 9 2008, 13:15

I'm in agreement - get a new agent and drop that price - one more thing - offer a selling bonus (maybe $2,500 in our market) that brings an acceptable offer to close on or before (date of choice eg. - April 4, 2008). Best wishes!

Thu Feb 28 2008, 10:47

In this market, a $4000 reduction is not much at all, as it is not uncommon for 30%+ reductions before a home will sell. I am aware of some home reductions of $170K on $500K homes, and they stil have not sold. If you can reduce the home a few more thousand to sell it, then consider yourself extremely lucky. And drop that real estate agent. You can sell it yourself and pass along that extra savings to the buyer as well.

The housing market is going to get much worse before it gets any better, and then the recovery will be very, very slow. The longer you let your home set on the market, the less it will be worth -- unless you can afford to sit on it for several years. Yes, SEVERAL years. No one really knows when the market will bottom out, but you can be assured that it will be several years.

A home's value is only what someone will pay in the current housing market. So, if a home has been on the market for well over a year with no offers, the price is excessively high (so high that buyers won't even place a low ball offer) and/or there is something major wrong with the property that is ruining buyer appeal.

In short, cut the price and drop the agent!

Wed Feb 20 2008, 08:12

Sounds like you need to be creative. What if I told you that you could guarantee any buyer that they will not lose on the purchase of this home? For short money, I can help you get an assurance policy that guarantee's to a certain extent that your future buyer will not get hurt in this crazy market.
This is not a gimmick. This a marketing tool that just might get those on the fence to buy YOUR home. I do not make any money from this. I just want the market to change and this might be the answer.

Call or write with any questions.

Keith Carberry
www.ReNewsYouCanUse.com

Mon Dec 17 2007, 22:13

Ajax, check outhttp:// www.msfsbo.net. Try selling your home without an agent. If the agent isn't motivated, why keep 'em around? We are working on growing our FSBO community to ease the stress of selling your home and by saving the 3% sellers commission, you can afford to drop the price and not take such a big cut in your profit. We even offer MLS packages to list your home on the Multiple Listing Service.

Mon Dec 17 2007, 21:48

I do believe that there is not a market in the United States that is showing a ZERO in closed sales this year. Someone please tell me if I am wrong. With that being said you have to find what it is going to take to make you one of the few homes that win a buyer. Price is so important especially in this market. Buyers are afraid to make decisions because the market is still correcting. Buyers are picky in this market... who would not be? Price corrects problems. You need an agent that will be truthful with you about what you need to do and where you need to be priced to grab a buyer. Chances are the $4000 was not enough to make an impact. Then you need a motivated aggressive agent to go to work with you.

This market may not be the ideal market but it is the only market we have to work with and it is not going to change overnight. You need an agent that will dig deep and keep you ahead of the competition with price and condition.

Wed Dec 12 2007, 13:34

You need to get your agent to run comps of what has sold in the past 6 months. Jackson is growing and has a vibrant economy...for you to sell your house, consider what other's have sold for from that report you are getting from your agent and make sure the selling price of your home is at least 5% below the average selling price per square foot, if not more.

Wed Dec 12 2007, 12:53

Ajax,

I echo the sentiments of the other agents responding to this question. I am an agent in the Jackson area and unfortunately there are some properties that have been on the market for a year. I would suggest you and your realtor re-visit the comps in the area; then preview several of the houses in the same price range in the general area. Try to objectively consider "How does my house stack up against the others?". In the current market buyers are looking at more and more houses and then often trying to negotiate for a "real deal".

Also, you need to know that price cures all evils. This is a supply and demand industry and price "is" the driving factor. You may think you will get more money by holding out, but currently comps have been inching down. It may be that the longer you "hold out" for top dollar the less you get in the long run.

I would check out the local MLS and see how many pictures (and review the quality of those pictures) that your agent has posted; the more the better. Read over the description of your property; does it sound like something you would consider buying? Has your realtor included your home in an office tour? Has he/she done an open house? If your realtor has done these things then I would suggest they are on top of things. I hear seller's talk about unmotivated realtors - I don't get paid if the house doesn't sells; there is just so much I can do.

Fri Nov 2 2007, 09:58

Brett,

I think you missed the last line of the question "Also I do not have the most motivated agent".

Fri Nov 2 2007, 07:11

Ajax:

Are you selling your property yourself? If yes, why?

Fri Nov 2 2007, 07:06

Ajax,

Seems that you have a pretty good answer here regarding the ditch and the empty lot. But, what is the market like where you are? Is your home in the best condition possible. Is it light and bright? Well kept? How is your curb appeal? Is the entrance clean and do you have seasonal flowers? Would some fresh paint help? Is the interior staged? Do the pictures that the agent uses put your home in the best angles? Does your agent use a virtual tour? Once you have answered all these questions, look at your local market. Is anything selling? How long do other homes take to sell? You may have dropped $4000 but is the price in line with what else is on the market? Is it just that your area is NOT SELLING?

I know that there are areas here in Florida that you can't give away! No matter what you do! Is that what your area is like? Ask your realtor for a current market analysis. Make sure it includes what has sold and how long it took. It may be an issue with your realtor but there are so many other variables. Take a step back from your house and look at it with a buyers eye and if it still looks good then you must look into pricing and the activity in the area.

I hate to be the bearer of bad news but there are many realtors out there that will tell you if it is priced right it will sell. THAT IS NOT TRUE! If the area is not selling you may just be beating your head against a wall. Get the FACTS from your realtor not an oppinion.

I hope this helps,
Linda J Sears

Fri Nov 2 2007, 07:04

Hi Ajax. I am wondering what kind of feedback you have received from showings in the past year. From your question, I gather that perhaps potential buyers don't like the location of the property. When you are on the market for a year, your property becomes old news and real estate agents lose interest in showing the property unless there's something new and exciting. I don't know if your $4,000 recent price adjustment isn't too little too late. The answer to that question should be left to the local expert.

As far as the ditch is concerned, I would want to know to is responsible for the maintenance of the ditch. What purpose does it serve? Contact the entity that is responsible and ask them to clean it up. I would also contact the city or county about the unkept lot across the street. There are certain rules and regulations that all property owners have to follow and when a property becomes a nuisance the government can take action by writing a letter first and if the owner does not take corrective measures within a reasonable time, the government can fine the owner.

As far as the agent is concerned. I can't comment either as I don't know what the agent has or has not done already.

You may want to take the property off the market for a while and put it back on the market after the cleanup of the lot and ditch have been accomplished. Just before you put the property back on the market, take a fresh and realistic look at your pricing. If you want to sell, price it competitively. Don't start out higher than what the market suggests and then chase the market with price reductions. Good luck.

Fri Nov 2 2007, 06:13