If the suggested price were 139,900, I am assuming yours is priced higher than that. In this market every buyer is looking for a GOOD PRICE. In addition, it must be in good staged condition; and be easy to show (not restrictive hours, a keybox, easy to schedule an appointment...) Buyers have many to choose from so you have to be one that catches their attention - if you'd like to discuss this further, I'd be happy to help.

Just to add to this discussion, having one bathroom is a MAJOR turn off for most buyers. Many buyers will not consider a home that has less than 2 bathrooms. If you have sufficient equity and some funds for it, you should seriously consider adding an additional bathroom. Depending on the layout of the house and configuration of the plumbing, this could possibly be done for less than you think. Contact me to explore some possibilities.

I agree wholeheartedly with Joan that pictures are probably second only to price in the marketing of your home. However, I disagree that even the ugliest home will sell at the right price. That is true to a point, but the levels of those prices aren't necessarily where private homeowners would ever go.

In the past it was true that price (normal, acceptable to private homeowner pricing that is) would overcome other factors like condition/upgrades/cosmetics, but these days in so many areas there is an oversupply of homes on the market. Buyers have a lot of choices these days. If you're home isn't showing well it'll easy get passed because there are plenty of other properties for buyers to choose from. I don't practice in Memphis, but I do know someone who is in the process of selling off all his property in Memphis (he just relocated to Nashville) and everything he's sold so far in the last year have been short sales (ouch).

However, based on the number of showings, price probably needs to be addressed first. Your home may be perfectly show ready, but no one knows because they haven't even given it a chance because your home may not be coming up in the searches of buyers and Realtors who are looking for comparable properties.

Also, if you don't get a contract in the next week or so I would consider taking your home off the market for a while. The price point you've given probably means a first time home buyer would purchase your property, and many first time home buyers have accelerated their purchase to close by November 30. It may be quiet for several months after that deadline since the buyers who would have been buying during that time already did. The good news is that a lot of people think a new tax credit will be passed - at $15,000 which many analysts say will drive up home prices. If that does happen, you may be able to sell your home for more next year when it'll be fresh to the market again.

If you need help finding a realtor in Memphis, my friend knows some great ones. Just let me know.

Memphis Julie,
The plain sad simple truth is that in a market like this, it always comes down to price. The ugliest house on the block will sell for the right price.
The fact that you have had only 3 showings in 3 1/2 months means that people don't even want to bother coming in the door. Even if your pictures are terrible (and I think pictures rank #2 in importance behind price) your house would get interest if it was priced right.
I do not know the Memphis market at all and I don't know your home, but price is the safest generalization an agent can make regarding why a house isn't moving.
I am sure (or I should say, hope) your agent has shown you sold and active comparables. How does your house place among the competition? A good idea for sellers to do is go around with their agents to active comparables and see for themselves what their competition is. Because don't forget, that is what this is, a competition.
Marketing is important of course but the internet presence you mentioned above pretty much covers what you need. Buyers have tremendous access to information about inventory. They are usually very aware of what your competition is.
As an agent, listing houses these days is, for the most part, emotionally wrenching. Selling is difficult under the best of circumstances and these are not the best of circumstances. It is very difficult to have to tell people that the biggest asset they own has "turned" on them.
I hope I have been of some help and I wish you all the luck.

Get with your Realtor and find out what the average days on the market is for your neighborhood. Three and a half months may not be that long if the average property is selling in say 9 months or so. If it has been too long, then more than likely your home is not in alignment with the current market and you should consult with your Realtor about pricing your home to sell now. Also, ask your Realtor about which direction values are headed right now. Are they flat, declining, increasing? You want to price slightly ahead of the trend for a quick sale. Remember nothing else matters to the market except the current price (not your loan amount, what you put into it, or how you feel about it).

Steve T.