Can you wait 2-3 years? That's when it ought to be noticeably better (not necessarily a guarantee!). Regardless of the market next year, the perception will be that it is a stale listing that didn't sell before.

The market may be better next year or it may be flat. And Eichler in San Jose could be in a number of neighborhoods where some prices might go up and others might not be so lucky.

Experience tells me that lowering the price with the expectation of multiple offers is a pipedream. Lowering the price with the expectation of getting a decent offer and closing in a reasonable amount of time is more appropriate.

Have you reached the stage where you are done owning that house? It's a mental state that gives you clarity on how to move forward to sell. Once you have reached that level, the stars align, the clouds open up, and the path becomes clear and unemotional. Find that level and you can move forward without hesitation or second guessing.

What's out of state? Is it: New job? Retirement? Family? Permanent vacation? Sick of Silicon Valley and California? Having a laser focus on what you really want makes all these other 'worrisome' items disappear. Write down all the issues you have on paper and the picture will become very clear. He who hesitates is lost.

Mark Burns, Realtor
Coldwell Banker Premier - Top 2% Worldwide
More than 500 properties sold since 1985
DRE #00896552

Sell NOW.. lower the price to get multiple offers.
No crystal balls here, but the outlook for the next few months isn't good. But RIGHT NOW in San Jose the buyers are out and looking for properties!!
Take the advise of the previous agents to price correctly. Hopefully you are going to buy another house in the area that you are moving. The prices HAVE to be attractive!
Good Luck!
Joanna Bateman
DRE 01792532

That is a relatively narrow piece of data!

1: Is your home clean, clear and de-cluttered? Is everything neutral? No photos of family? No trophies? Freshly painted where maybe you pulled a painting from the wall? Optimized for feng shui or energy flow? Are the floors freshly polished or newly carpeted? If you believe your home still falls in the 800K range, look at "SOLD" homes in your zip code at your price point within the last three weeks. Is your home a good comparison? Is it an even better deal than those? Try to pull yourself out of your ties to your home and look like you did when you first were buying a home. Fresh eyes.

Then, look at your home compared to all the homes within 50K range that are on the market right now. Is it a better deal? Is it bigger, cleaner, prettier, better floor design? Is it on a less busy street? If it doesn't compare, drop it under those other homes that are real similar and be the best at your price point.

I go through the home and say for every single item that is not a fixture "will this item bring me more money for my home sale." Then, pull everything you can off of the walls. Walls should be clean & clear so people can picture their furniture and their art in your home. Not your art! And skimpily furnished only. At your price point, you should be able to get a storage unit and bump all but necessities out of the home.

Then, how is the access? Do people have to call you first? Are there any hours when agents can show clients without a call first? You can say something like "On Tuesdays and Fridays, come anytime without calling before 8 p.m and Saturdays 10 to 3 without calling first" so that agents feel free to show. Buyers tend to say "I want to go look" and then cancel, or change the time, or run late. So if an agent has to call every house first and then again when their buyers change, it's very time-consuming. An agent loves not having to call first.

So if you have a good price (beating competition) and your home is totally looking better than anything else for the price, then I say leave it on through the summer. This is a time when people move. This is a good time.

Then, do the "worst case scenario." What if unemployment goes to 15 percent (it is trending to go from 10 percent now to 12.5 percent in early 2010) and more people lose jobs? What if there is an increase in foreclosures and short sales? Of course, the economy could improve. But what if it doesn't and you lose more equity?

Anyhow, all we really know is the present, and there are buyers, presently, and Willow Glen is a lovely community, presently. So, I am not sure on balance that the wait would help you.

Erica
http://www.EricaNelsonEstates.com
EricaNelsonEstates@gmail.com
408-416-7090

Hi, how long has your home been on the market?

Hi Eichlerfan - every market presents its own dilemmas and your situation is a common one in the current market. Without knowing the specifics of your listing, it's impossible to give you personal advice, so I'll stick to generalities based on the info you provide.
While there is a consensus that the nation's economy will improve next year, I doubt that waiting will benefit you. While real estate activity is returning to normal and there are signs that prices are starting to stabilize, the trend continues to show declines, although at a much slower rate. There is plenty of optimism, but no credible forecast that we will see any price appreciation over the next year. There are also some hazards to keep in mind over the coming year(s). Foreclosures will remain a factor in the market for some time; interest rates will begin to climb as the economy recovers; first time home-buyer tax credits may expire; the high-balance ($729,000) conforming loan limit may be reduced.
It seems to me that it is best to focus on why your home isn't selling now. The real estate market in Willow Glen has returned to normal, with 30% of the homes in the $750-900K range now under contract (below 25% is considered a buyers market and above is considered a sellers market). So, since your home isn't selling, the question I would ask is what would you do differently next year and what is the benefit of waiting a year to do it? I would not count on the market to solve the problem for you.

Good luck,
Roland

Are you going to repurchase when you move? If you wait for the market to move upward in your area, the market you move too may have moved even more, making the wiat counterproductive. There is no guarantee that your local market will improve in the spring, so I suggest that you think about what your motivation is. If you want to move, then prepare your home for the expectations of your market area. Look honestly at your competion for sale. The updates, conditon, and location will dictate how sucessful your efforts will be. Location, location and price are the major things buyers will look at, just as you will in relocation.
If moving is the goal, then stick with it and good luck.
You may contact me with any other questions, be glad to help.