Yes, we have just come out of a slow time of year, but the Serious Buyers are out there. With the recent drop in interest rates, I have witnessed a surge in activity in the last week. But- the homes that I have gotten offers on, are priced extremely well.
You may want to take into account, did you get your new house at a good price? What % under what it could have sold for in a stronger market? Look at your current home, maybe make the same % adjustment on that price. (it's all relative) If you can get it sold quicker, you can move on- and even if you have to borrow a few thousand more - the cost on a 30 yr mortgage can be around $6.00/month with a 6% interest rate. (so borrowing $10,000 more would cost around $60/month) Most people spend more than that on going to Starbucks each month. All the Best to you. I'm sure your agent will guide you well.
- Is your home priced properly to sell quickly (i.e. is it at, or even better, slightly below market value)?
- Is your home staged well (de-cluttered and looks like a model home. Pack what you don't need for the next several months to get it looking neater and more organized)
-Can buyers see your home easily (i.e. is there a lock box, and is it "call first, go direct")
- Is your home being advertised and marketed agressively by your agent? What kind of internet marketing are they doing? What kind of marketing exposure does the company your agent work for give you? (Tell them to look at placing your home on here Trulia.com, as well as Zillow.com and Craigslist.com for free, additional marketing).
These are some of the major things to look at. Hope this helps. Depending on what you are offering for commission to the buyers agent, you may want to consider offering a slightly higher commission - realtors are suffering right now and since there is so much available on the market, they are going to be more motivated to show the homes that are going to get them the highest pay check - sad, I know. If you have Home Owners Association dues, you could offer in the marketing and advertising to pay the first years HOA dues for the buyer.....be creative.
Prudential California Realty
1-What the "market absorption rate" is for your neighborhood (3-6 mos average)
2-What the average differential (list/sold price) is for you neighborrhood (3-6 mos average)
Adjust your price below the market absorption rate to gain momentum and market interest. Also, you need a "pull all the stops" marketing approach.
Do things that other Sellers aren't. Hold a weeknight open house. make it fun. Be different. Be bold. Be SOLD!
Also, you'r home has been on the market during one of the slowest time of the year. I am sure it will pick up shortly - the pool of spring Buyers are starting to hit the market. I held an open house for one of my listings Sunday and had 13 couples (26 or more people).
I am sure you have a good agent who has your best interest in mind.
Best of luck!
Success generally does not happen over night.... I am sure you agent is doing everything possible to move your home. But you can also help. Get out there and blog, email, facebook - ask your realtor what you can do to help. You may want to go to the sellers of the home you are purchasing to see if you can buy yourself more time don't wait until the last minute. Most people are understanding and will do what they can to help out. All in all do not lose hope....Janesville has been hit pretty hard but that does not mean the buyers are not shopping.
The Birschbach Team - Keller Williams Madison