If there is a defect in the home then the price should reflect it. All information is in the price. Simply stated your home is over priced. Cut 10% each month until it sells.

Hi Janice,
If your pricing is below your competition (15%) and you still aren't selling,while other homes in your area are, I would look at the presentation of your home. It propbably doesn't sound appealing, but I recommend a home stager to get in and present your home to buyers in the best possible light.

OK Janice,
Sounds like your agent may be keeping you in step, somewhat, on pricing. LOwer price now may or may not help. With over 70 showings, it sounds like your property might be being viewed to help sell others, assuming others are actually selling! Statistics indicate that we should get at least 1 offer for every 10-12 showings in a normal market. The market is NOT normal, but it IS what IT IS! So maybe you should have had at least 3???

If you have had none in 70 showings, SOMETHING IS or WAS seriously wrong! Were the showings early on, and then you made some changes, or has it been pretty steady? I would suggest your agent review in depth with you what the Solds and Pending Sales had to offer that your home did not at the time they sold.. Maybe they could contact some of the selling agents of those Solds.

First thing I do when commiting to selling a property, is determine WHO the most likley Buyers may be, and what is going to be the best way to reach them. Today's buyers are mostly trying to use the 1st Time Buyers pprograms and tax benefits, OR they are investors, in my area. In Fall/Winter, we also get the Snowbirds, here in the South! ;-) Families tend to move with school cycles (summer) when possible.

FIRST TIME BUYERS may need help with closing costs, etc.. If property is older and/or needs work, a home warranty may provide peace of mind. TERMS may make the difference you need! Including a % for this upfront will help the ones who may be cash shy. I also find that using Sample Good Faith Finance Flyers on signs or websites for these are a great help in letting them see how much they may need as well as probable payment info..

INVESTORS look at the bottom line. They are looking for a GOOD deal (or steal!) and they understand the importance of location... the one and only thing you cannot change about a real estate investment. Providing estimates for repairs needed or current neighborhood rent rates could help with this. They know that if you are offering to help with closing costs, that they can reduce the price at least by that amount.

MAYBE you need a fresh look? Photos taken 6 months ago or longer may not reflect the changing seasons. Maybe you first photo and a couple of others need to be replaced, especially in advertising!

TERMS are really important these days. Are you in a position to hold a mortgage yourself? I have had a number of buyers through the last 3 decades who jumped at properties with owner terms, frequently not even caring about the actual interest rate or condition of the property!

Are you selling at a discounted fee? Closing a sale takes A LOT of work these days. Raising the selling agents compensation may be enough to get them excited again regardless. Agent biz costs are still high and gas... but the fees on a much lower average sales price means we need to sell twice as much just to stay on an even keel!

So talk again with your agent and determine all the things you will need to change to get prospects AND agents EXCITED again about your house! Stay in communication between you. And Good Luck!

Hi Janice
The price "may be low". but apparently not low enough. Listed for 6 months, and no offers??

"Good condition" and "low price" are in the eye of the beholder. The market is speaking to you. If you want to sell, then you need to listen to the market, and I'm afraid a reduction may be warranted. I assume your agent is on top of all other marketing strategies, so those bases should already be covered.

If you're not able or ready to deal with the realities of the current market, then perhaps you need to decide if this is truly the time for you to sell.

Good luck.........
Debbie
Pruidential NJ Properties

Hve you made a youtube clip for the house? That helps alot!

Hi again Janice,
I agree completely with what Eileen is saying. Do you HAVE to move? If so, it sounds like you need to adjust your price. Do it now, before you are just chasing another landslide. If you don't HAVE to move, then you need to determine your motivation level versus your lowest price. Sure, you are going to take a hit when you sell, but hopefully you are going to get a good deal when you buy again. If you have a price that you must stick to, but aren't able to compete with those larger homes, then you need to make up your mind to stay in your home for now. I know it's tough. This is exactly the mental chess match that many sellers are faced with right now. Good luck to you.

You have to think through the mind of a buyer. How can you make the home the best deal available. That is what the buyer is looking for.

Sometimes the best deal is the home that is in the right location, has the "right" color siding, has public water and sewer, has five bedrooms, or whatever else the buyer just "has to have".

More often though the best deal is the home that has acceptable condition, ammenaties, location, etc. AND is the best price.

Ultimately any house will sell if the price gets low enough, and the best home out there will NOT sell if the price is too high.

So, the question is:
Am I going to sell, or am I going to stay? If you are going to sell, then you must present the best deal to at least one buyer. If you "can't" do that, then you are going to stay. Period!

Plenty of showings = around 70 or so. Problem is there is too much competition out there offereing more square footage, more rooms, but they have slashed their prices ridiculously low to only a few k above my price. I dont know what to do.

Janice,
I guess the important question here is...have any buyers even been looking at the home? You say that it is well priced and in good shape, so what's the real issue? What is the average market time in your area? What feedback are you hearing from agents and buyers that look at your home? Are other comperable homes in your area closing sale? These are all important things that you and your listing agent need to consider. You do have a listing agent, don't you? If not, I would say that's the first step you need to consider. The really tough fact in this market is that 99% of the time, when a home isn't selling it has to do with price. If you really are not priced at a competitve price, which is at of under what the comps say, then you should reduce the price. If you don't HAVE to sell, and don't want to reduce the price, then you should probably just take the home off the market and wait for conditions to improve. Good luck to you.

Take a look at this blog: Practical Advice For Home Sellers

http://www.trulia.com/blog/chrismabry/2009/05/the_four_p_s_p…