Home Selling in Burton>Question Details

Renee, Home Seller in Burton, MI

What should my next step be in trying to get my house sold?

Asked by Renee, Burton, MI Wed Aug 13, 2008

I originally listed my house in Jan. 2006 for $104,900. It is still on the market after being listed through 3 different realtors and I have it dropped down to $89,900. It doesn't have a garage or a backyard, but has a nice size side yard. After 2 1/2 years on the market, and about 60 showings on the house, I just don't know what to do at this point. I can't drop the price much more. We're looking to upgrade to a bigger home as I am pregnant with our 3rd child and we need more space. I even set up a website at http://www.burtonhouseforsale.com to try and get more people to my house. I am at my wit's end and just don't know what to do at this point. Please help. I need some serious advice or some other options to consider.

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Renee,

Again, you are under contract with an agent, follow your agents advice and suggestions. If the ONLY negative feedback you received was for the yard, what can you do to focus attention towards the positive aspects?
0 votes Thank Flag Link Thu Aug 14, 2008
I soooo feel your pain and empathize with you. My blog is updated a few times a week with ideas to get your home sold. Look through it and see if you can get some ideas. It's not a sales tool but simply a way to help sellers just like you.
0 votes Thank Flag Link Wed Aug 13, 2008
Ouch, tough market. Our home prices in Ann Arbor area are down 10 to 14%. See what homes are selling for in your sub and make it the lowest price one in there. Most sellers are taking a hit, no not most ALL that purchased in MI between 2000 and up.
0 votes Thank Flag Link Wed Aug 13, 2008
the short version is if you are not getting any offers, then the house is overpriced for what potential buyers are willing to pay for it. So you have to drop the price. If you "can't go any lower" then that means you are going to have to live where you are. Alternatively, you can do something to the house to fix up weak-points, to get it to a point where buyers will be willing to pay what you need to get out of it. Remember, what you need to get out of the sale of your home is completely irrelevant to what a buyer will pay for it. How would you feel if someone offered $50k because "that's all they can afford". You do not care what they can afford (if it's not enough) , and they do not care what you need to get out of it (unless it's too much, and they will not make offers.

Tough spot to be in, if it makes you feel better a LOT of folks are in the same situation.

Good luck Renee.
0 votes Thank Flag Link Wed Aug 13, 2008
Ok ... well only worry about those items you can control, and not those that you can't. I would MAKE SURE that people know before they come over that the back yard is small, but it does back-up to a nice creek. It does no good trying to conceal issues before people get there, that they may dislike anyway. Give them the facts before they show-up, then you will know everyone who walks in the door should be serious...
Web Reference: http://www.DoorToDreams.com
0 votes Thank Flag Link Wed Aug 13, 2008
The feedback that I'm getting is that everyone loves the actual house (interior & exterior) but that they need a backyard or they don't like the layout of the yard (it backs right up to a creek). All negative feedback is on things that I have no control over. We fixed any issues that were coming up in showings, including putting in a new bathroom and kitchen floor last year. The entire house has been remodeled in the past 5 years.
0 votes Thank Flag Link Wed Aug 13, 2008
Gary is correct on all points. Have your Agents been providing feedback from the showings? Feedback is important, and surely after that many showings there are some consistent issues. What are they? Can you remedy them?

I would be more then happy to refer you to a colleague I would recommend up that way, so feel free to shoot me an email or contact me through my website. Thanks.

Derek Bauer
Web Reference: http://www.DoorToDreams.com
0 votes Thank Flag Link Wed Aug 13, 2008
Renee,

I suggest sitting down with your agent and reviewing their past and future marketing efforts for your home. Your agent should be able to provide information about homes that are actually selling in your area. Look those over to see if there is an obvious pattern. (for instance, are they all brick exterior or two story) I also suggest reviewing the feedback received from the 60 showings and actually correcting the flaws mentioned.

It is possible you paid more for the home in 2003 than it is worth in todays market. Speak with your lender to determine the minimum amount of downpayment needed to upgrade to a larger home. In today's Lenders Market you may not even qualify.
Web Reference: http://mi-living.com
0 votes Thank Flag Link Wed Aug 13, 2008
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