Home Selling in Lincoln>Question Details

c.davenport73, Home Buyer in Papillion, NE

Why is our house not selling? On the market for 3 mo., since June '13. We dropped the price 2x and now $4k above assessed value. Priced @ $99/sqft.

Asked by c.davenport73, Papillion, NE Mon Sep 9, 2013

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Answers

3
Annette Lawrence’s answer
Don't know, insufficient data provided.
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How have you elected to sell your house?
DIY?
FSBO?
Flat Fee?
Discount?
Private?
Exclusive?
Prorated?
Secondary market?
Distressed?
Full service?
It DOES make a difference!
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What did the market analysis project regarding market activity for your area?
Where are homes selling like your?
Where are homes selling at your price point?
Is the results you are getting in alignment with that analysis?
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What can you do to make your home competive with homes that ARE selling?
What has been the buyer feedback to the "Make me move" questionaire?
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Without a real analysis, the only actionalable direction that can be offered is REDUCE THE PRICE! THE PRICE is a one source solutions that compesates for all inadequaticies. Much of the context of your question suggest you have created improper associations regarding what is relevant to the list price and selling price of your home.
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So, now is the time to direct this question..and the suggestions I have provided to your agent. That is what your agent is hired to do....TO INTREPRET THE DATA! You, however, must respond to what the data reveals and make the decisons and/or take the action to make your home competive.
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Now, if you want REAL guidiance. provide a link to your homes MLS listing.

Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
727.420.4041
http://RealEstateMadeEZ.us
2 votes Thank Flag Link Mon Sep 9, 2013
The landscaping looks very nice and has good curb appeal and I would guess you have had some great years there. From your description, it sounds like something a client of mine would like. I see he passed it over, I will ask him why and try to get into it and show him. Staging is art. I am always here to help.
Becky Stewart, ABR. CRS
Your satisfaction is my #1 goal!
"Sell" - 402-432-6476
Becky@RealEstateInLincoln.com
http://www.RealEstateInLincoln.com
7575 South 75th Street
Lincoln, NE 68516
Licensed to sell Real Estate in the State of Nebraska
Flag Mon Sep 9, 2013
The county assessed value is not always what the house is worth. Your real estate agent will have the better idea of what your house is worth. What has been the feedback on your house after the showings? That will give you an idea why your house is not selling. It could be as easy as repainting a room or two. If your house is smaller in size, you might want to rent out a storage unit and get rid of some of the times that you are not going to use. That will make the house look bigger. I hope this helps you out.

Greg
2 votes Thank Flag Link Mon Sep 9, 2013
Feedback has always been positive after showings, with the only issue being the steps to the upstairs. Many people have come back 2 and 3 times for additional showings. Our agent did an agent open house to get feedback from other agents and the only comments we received were lowering the price and getting the carpets stretched. We did both. The house is empty with a few rooms staged w/ furniture. Being an older home, the stairs to the second level are steeper that what you would find in a newer home, but it is one of those things that you get used to almost instantly. Another issue is that it looks smaller from the street than is actually is. Our agent took more exterior photos to better show its true size. Other houses in our neighborhood are selling quickly, and for $20-$30/sqft. more that our list price. Maybe the right person has not yet come along.
Flag Mon Sep 9, 2013
Buyers create the market. Put yourself in a buyers shoes. What else is for sale in your area and how does it compare?

Property condition and price are the only variables you can change,, so if lowering the price isn't feasible, try fixing cleaning and improving what you can around the house!

If don't have an agent and would like more detailed advice, let us know and we can refer you to a couple very competent and experienced agents in the Omaha and Papillion area.

Best of luck!
1 vote Thank Flag Link Mon Sep 9, 2013
Nicer homes are tougher to sell because every other home (comp) brings your perceived value down. The opposite is true when you have the cheapest house in a great neighborhood. Your house should sell, it's just a matter of finding the right person for it!
Flag Tue Sep 10, 2013
We have an agent. Property is in excellent condition and very well maintained. It is priced below the market assessment. Other homes in the neighborhood sell very quickly. The home has many desirable features not found at this price point. Full brick tudor, 3+1 BR, 3 BA, original woodwork, hardwood floors, newer 2+ stall 2 story garage, quiet street, very close to parks and schools. Ours is one of the nicest homes in our neighborhood, and the nicest on our block. Could that be the issue? mls # 10107043
Flag Mon Sep 9, 2013
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