If you haven't sold it by now, chances are slim that you'll sell it at your price any time soon. Values are well low town assessments now. You may have to lower the price and bring money to the closing.
It's like the stock market... it doesn't matter what you paid. Market value is market value.
The problem is the banks just are not lending money, there are people who want to buy, but they cant. The banks haved up the minimum credit score to be considered an "A" borrower to get the best rates and terms. It is upwards of 720-740 right now. The other problem is most people who would consider your home are in the same boat, they can not sell their home to move upo to a larger home or relocate to another town, city or state. You need to make sure your home is getting the maximum exposure it deserves and wait until a finacially secure person comes along. Good luck with your sale.
I hate to answer aquestion with a question, but..... Has the house been shown a lot during those 8 months? Your Realtor needs to do things different than the old conventional real estate (list is and wait for someone to sell it). You have to be proactive to sell. Check and see if your home is showing up on plenty of major search real estate sites. People don't just walk into an office anymore, they are atarting there search on line.
Another thing you may want to do, is raise the price up above waht you paid. Sometimes, it's not the price at all. Everyone is bottom feeding and think the entire world is at a fire sale, so they will low ball you anyway. No matter where you price it.
Lastly, I hate to say it, but what you paid for it has nothing to do with what it should sale for now. The bottom line is, How much are like houses selling for? That's where you need to be priced at. So if you're still not there, either take it off the market or lower it to those numbers. What you paid doesn't mean anything for you, me or anyone else.
From what I can tell from the MLS, it looks like you have finally made some progress and have the house under contract! Congratulations!
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Why not live in your home until it sells? That would alleviate having to pay rent in addition to the mortgage payment. It is also my opinion that a home that is lived in sells easier than one that is left vacant. However, it seems to me that the only homes selling are the very elaborate and expensive luxury homes, although, I am no expert and have no experience in the art of buying and selling real estate. I still live in my first home, which was built in 1983 and renovated in 2007. I often think about selling and buying a more elaborate home, but then reality sinks in and I say, "why bother!" It all seems way too time consuming. Good luck with the sale of your home. I hope things work out to your advantage.
I looked at the virtual tour, and would like to offer an opinion as a home seller/buyer there where things I noticed in the tour that should have never been shown. One is that there was painters tape left on a ceiling fan near the foyer I believe. And showing a picture of only the wood floor in one segment made the floor look as the the seams didn't line up. I also probably would not have shown an unfinished basement, that just means more work. And most in this market will pass that up for something that is finished even at a higher price. I know I would my husband travels a lot and after remodeling our current house we are not interested in doing that again. But will if the house we find has the other things we are looking for.
That just my opinion, my husband and I are relocating and have a house for sale in Woodstock. We have looked at many virtual tours because he is already in his new job in the midwest, so we have been looking on line a lot. We have passed up looking at houses because of the way the show on the tours. That is not all we consider but sometimes if a house at the same price impresses us more...
We had 4 showings this weekend, we were thrilled.
May we both have good luck selling our homes!
From yor description it looks like yours is the house on Cardinal Cir. The house does look beautiful and seems to be priced right. You can ask your agent to add a few more pix, and possibly replace a few of darker ones.
In your price range, only 2 houses have sold in the last 90 days, and there is1 under deposit (all are smaller than yours. One of the ones that sold was also on Cardinal Cir and was on the market for 324 days! It started at $327, 500 and sold for $265k. It was 8 years older than yours and needed new carpets (I showed it a while back).
The bottom line is that there isn't a lot happening in Torrington in that price range, but if you maximize your internet exposure, yours could be the next one!
I hope this helps.
There are currently 8 homes in torrington at that price point. Which is yours? The one on Fairlawn only has 1 picture and a very generic, short test description. A listing like this will not sell as quickly as one with a lot of pix and a more emotional description.
In today's market, presentation is everything. The internet is today's curb appeal: It is a prospective buyer's first look at the house. If there is nothing in the ad to catch their attention, then they just keep on clicking on to the next listing.
How many websites is the house on? If it's only on Realtor.com, then you are missing out on a large sector of the internet shoppers. Every listing should be on ALL of the major real estate websites (Trulia, Zillow, Courant, OpenHouse, CTReal, Century21, etc.)
The 2 biggest factors in getting a house sold quickly are pirce and exposure. Since you are out of options for price, make sure your agent is maximizing your exposure to the broadest possible market!
How many showings have you had? It usually takes about 10 showings to receive an offer.
What feedback have you gotten from the buyers and agents who have viewed your home?
Have you talked with your agent about using a professional stager? This will cost a few hundred dollars but well worth it considering the higher price staged homes sell for (and the speed).
Also ask your agent about having an agent tour, adding a home warranty,and using a landscaper to improve your home's curb appeal.