Market Conditions in 75234>Question Details

Elainea, Home Seller in 75234

trying to sell a home in 76448 for last 7 months, lot of people like, but must "sell theres first", have a home picked out in East Tx , but

Asked by Elainea, 75234 Thu May 26, 2011

cant sell. no garage, in nice neighborhood, good price, a lot of new amenities. When if ever will this real estate mess be over ? E Tx

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Elainea...Let's assume that this real estate "mess" is exactly the way it is going to be for a long time. You will then have to adjust your price to the new reality, and not get excited about people who need to sell first to buy yours. They are not real buyers. A good price is one below the price of your competitors in your area.

David Cooper! Las Vegas foreclosure Investor
Save 20% or more. For Freee List
email: or +1-7024997037
2 votes Thank Flag Link Thu May 26, 2011
Elainea, I feel your pain! Many homes that came on the market after the home buyer credit eneded in April last year became a victim of bad timing. The market as we knew it up to that point had been fairly steady but fell off dramatically. You might try a few things, take your house off the market and relist, with the same agent or a new one, so it has a new days on market number (the cumulative day count will not change). You could just take it off the market entirely for 30 days and now you would get a total new number for days on market. Basically you give the listing new life and new marketing efforts.

All that being said, the bottom line is price; the buying public is teling you load and clear that they like the house enough to look at it but not enough to place an offer at that price. Look at your competition not just in your neighborhood but all around you and see what is being shown and sold then adjust your price.

Good luck with your sale,

Mary Beth Harrison
The Harrison Group- Keller Williams Realty
Web Reference:
1 vote Thank Flag Link Thu May 26, 2011

1. Check with your agent at least twice a week to see where the price of your home stands in compare to the competition.
2. Ask your agent about the absorption rate in your area
3. Price accordingly

Feel free to contact me if you need any help
Web Reference:
0 votes Thank Flag Link Thu May 26, 2011

Price, Location and Promotion are the three reasons homes don't sell. You really have to examine your competition and see what's sold.

What do they have that you don't and modify price accordingly. There is an upside if you have to reduce your price below where you wanted to be. Chances are the home you want to buy will have to do the same thing.

Location, Plano great area you say it a good neighborhood so that probably isn't the issue.

Promotion, are you listed with a Realtor? If not you are limiting your buyers significantly. If you are listed with a Realtor, just double check to make sure they are doing more than just listing in the MLS and hoping is sells. Which unfortunately there are a lot of Realtors that do just that.

I wish you well.

Please let me know if you have any other questions.
0 votes Thank Flag Link Thu May 26, 2011
If you have not had any reasonable offers in seven months, the market is "speaking" to you. In short, when buyers compare the list price of your home to others, they are finding the "others" more attractive. Great marketing attracts many buyers, but in the end it is the price that makes the sale happen.
Feel free to contact me if you would like more information on the pricing.
Good Luck,
0 votes Thank Flag Link Thu May 26, 2011
Hi Elainea,

Are you by the lake or in town? The 3 "Ps" that determine a sale: Place, Price, Presentation. I'd be happy to visit with you further if you'd like to give me a call. Once I know a bit more about your property I can give you some suggestions.

Andrea Brooks
0 votes Thank Flag Link Thu May 26, 2011
What is your sales price? What kind of incentives are you offering potential buyers?
0 votes Thank Flag Link Thu May 26, 2011
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