Home Selling in 35217>Question Details

Eual, Home Seller in Tarrant, AL

6 months and not a single offer? 2 showings, 1 person showed up (just driving by).

Asked by Eual, Tarrant, AL Fri Nov 2, 2007

Take a look for yourself and give feedback (positive and negative). 1360 Fulton Ave Tarrant, AL 35217 on MLS. Why has this house not sold? It's been listed since April, there have been 2 showings. Not a single offer. It has been freshly painted, the kitchen has been remodeled, new paint throughout the house, all appliances stay (fridge less than 2 yrs old, washing machine 1 year old, gas dryer, water heater 1 year old). The roof is 10 yrs old, HUGE lots (the house sits on 2 lots), HUGE rooms. Plenty of room to expand and add on. So what gives?

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Have you also considered offering more incentives on your home? My market covers the greater Las Vegas area and home are barely moving. I have found the homes that move are the ones offering good incentives, advertised incentives I might ad. Increased commissions to the Buyers Agent and Closing Costs paid for the Buyer may help bring in additional showings. Always consider what your competition is doing, are your competitors getting showings?

Good Luck
Ken Herrera
Century 21 Infinity
http://www.C21Infinity.com
1 vote Thank Flag Link Fri Nov 2, 2007
Eual
Surveys show that 90% of the time a Realtor shows the buyer the home that they purchase.
That means that at least three people need to see your home as offering more value than the homes (on average 12) with which you are competing.
1. The buyer's agent
2. The buyer
3. The appraiser that the lender selected by the buyer uses to evaluate your home.

How many homes are you competing against? Have homes like yours sold during the time yours was on the market? The homes with the best value (as perceived by buyers) always sell first.
Compare your homes to the ones that sold.

Also, consider increasing the commission rate one point. If you had the choice of two jobs, both the same amount of work and one paid more, which job would you take?

Rule of thumb - properties will net the seller the most when they sell during the first 30 days on the market.
In the first two to three weeks, at least ten showings, or adjust the price.
At least two offers, adjust the price.
No showings or offers, adjust the price (that means at least 5%).

Good luck!
Keith
0 votes Thank Flag Link Fri Nov 2, 2007
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
Contact
Have you also considered offering more incentives on your home? My market covers the greater Las Vegas area and home are barely moving. I have found the homes that move are the ones offering good incentives, advertised incentives I might ad. Increased commissions to the Buyers Agent and Closing Costs paid for the Buyer may help bring in additional showings. Always consider what your competition is doing, are your competitors getting showings?

Good Luck
Ken Herrera
Century 21 Infinity
http://www.C21Infinity.com
0 votes Thank Flag Link Fri Nov 2, 2007
The lack of showings you're experiencing tells me you are at least ten percent high on price. Have your Realtor do a new market analysis on the home and have them give it to you straight, at what price would the home sell. I don't work your market but if you were priced right you should get at least one showing a week.
0 votes Thank Flag Link Fri Nov 2, 2007
Eual, I am not in your area, but it sounds like from the lack of traffic that it is priced too high. If it is priced correctly, it should have received more showings than it has had. Did you review the comparable sales data for the last couple of months in your area with an agent before setting a price for the home? If not, I would suggest you ask for a CMA (Comparable Market Analysis) of what similar homes have recently sold for and adjust your price to be within that range. Also, are there numerous pictures on the MLS and are they of great quality? People make very quick judgments as they search online by looking at the pictures as to whether they want to see the house. Your house must stand out over all of your competition.
Web Reference: http://homenashvilletn.com
0 votes Thank Flag Link Fri Nov 2, 2007
Price is what sells in this market...you should be sure that you are priced correctly first and foremost. If the price is not right, you will not get the showings. So...look at the trend graphix and pricing for your area.
0 votes Thank Flag Link Fri Nov 2, 2007
It comes down to price and condition - even in this slower market. Any home will sell if it is priced correctly. I just looked up your home. It shows well and sounds as if the condition too is good. The pictures could be a little better (taken by a professional photographer) but the kitchen is nicely updated as you said and your home has nice curb appeal. It IS the price and I know that is a hard pill to swallow. If people see the pictures online, think it looks decent for the price, they WILL come and see it. Those that are looking at your pictures (is your Realtor providing you data on how many hits your on-line pictures are getting?) are thinking that the price does NOT match what you are offering. I highly suggest sitting down with your Realtor and rediscussing strategy and price. Also ask your Realtor to do a market analysis of what has been selling (and sitting) these last six months in your price range and area. Good good luck!
0 votes Thank Flag Link Fri Nov 2, 2007
I'm out of area so I can't see it but I can tell you there is probably only one answer to your question, which I don't suppose you will like. It is overpriced. You say you've only had two showings since April? There is typically only one reason a home doesn't show, it's overpriced. The only other reason is a terrible Realtor but even then if the house is priced right it will show. I assume if you have a MLS # you have a real estate agent. What do they say about only two showings in 8 months? Assuming you are following all the advice your real estate agent is giving you and the home still is not showing it might be time to interview someone else. However, if you are not following your agents advice maybe it is time too and see if it makes a difference.
I tell sellers this all the time in regards to pricing your home. I'd rather you price at bottom line and turn down 10 offers than over price it for current market conditions and get not a single offer.
Best of luck,
Susan Walker
0 votes Thank Flag Link Fri Nov 2, 2007
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