That is a good idea. I will try to get to some of my competitions open houses to see what they have to offer....
....an appraisal opinion can make sense on paper, but not in reality. Was it a Cost Approach as well as a Market Approach? You should have both....what is the feedback from showings? Are you even GETTING showings?
Sometimes it is just not the market to get what you are hoping to....time to rent it out or hold tight...Real Estate is a LONG TERM INVESTMENT. If the market is not good for sellers then your return (if any) will be dictated by what a buyer will pay and it appears your shirt and all cothes are barely enough. Not for the weak of heart no matter what your political leanings might be. You chose to invest in real Estate, investors also chose Madolf and Chrysler stocks.
Bottom line: Hold and rent or sell at a loss
I understand from your writing below, that you are taking a hit on the house. Unfortunately, if similar houses surrounding are not selling for near your price, then it may need to be an even lower amount, especially if an appraiser could not appraise the house and show a buyer's bank that it is worth it.
I wish you much luck!
Keller Williams Excellence Realty
not an easy question to answer, when we do not know or have seen your property. Is it on the market listed with a real estate brokerage/listing agent or are you selling it by owner. Could be a huge difference..... but besides
we are in most if not all parts of the country in a buyers market, which means to you the seller, that there are
more homes on the market and not enough ready and willing and approved buyers out there. The few that are
out there have so much to select from, that they truly can buy the best of the best and the best price.....
Besides that fact there are still many short sales, foreclosures and distressed properties on the market and
still coming on the market that are priced so much lower than you probably would like to sell your home for.
If you not already have discussed your particular property, its size, location and upgrades in relation to the surrounding sold or currently on the market homes with an experienced area Realtor, I strongly suggest to you to do so....
Sometimes, some staging, new photos, rearranging or removing some furniture, a new curb appeal by
adding something to the front of the home, lights? a new color paint on the front door? all that and more
can help....An experienced Realtor can be the best resource and help for you.
Edith YourRealtor4Life! And Chicago/Northern Illinois and North Shore Expert
Working always in the very BEST interest of her clients....
The key to successful marketing these days is to have great photos on-line on many different websites. Your home has about 2 pages of Google references (you really want to shoot for 5 or more) and while the house looks lovely the pictures are really not good. There is even one of a ceiling fan. And they are not set in any logical walk-through order. You need a good wide angle lens 35mm digital photo tour. Consider purchasing one (about $250) and have your Realtor post it for you on the Internet. Make sure your home is syndicated to as many websites as possible.
If homes in your neighborhood are selling for $150 or less, you will need to find a cash buyer for your home. If your buyer finances the home it will have to pass an appraisal at or above the contract sales price. Are there any recent property sales that would support your asking price?
We are seeing the same decreases in value here in the Fort Meade area. And as a local home owner I truly feel your pain. Wishing you the best of luck that you get out with shirt in tact :)
I see the home now and it looks beautiful with the photos. How many tours are you receiving a week? What type of feedback are you receiving after the tours? If you're not receiving 3-5 tours a week, chances are it is priced too high. I'm sure that isn't what you want to hear, but showings are always the indicator, unless the photos don't portray your home nicely. In this case, we know your interior pictures are attractive. I see you've already gone the route of offering an agent bonus. Perhaps also advertise closing help.
What additional feedback have you received either directly from your agent or from the automated Centralized SHowing Service's feedback forms? Is there a consistent trend you're hearing?