Home Selling in Janesville>Question Details

Dan Hetzer, Home Seller in Janesville, WI

Our house has been on the market for a little over a month. We need to sell it fast cause we have an

Asked by Dan Hetzer, Janesville, WI Tue Jan 15, 2008

accepted offer on another one. We have an agent and everyone seems to think we'll have no problem selling cause of the price and condition of the home but we haven't gotten any offers yet. Please help

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Price and condition are key to a successful sale. With so much inventory for buyers to choose from, your house needs to look better than the competition. You might consider consulting a professional stager in your area to address condition. Your realtor should be able to address price.
3 votes Thank Flag Link Tue Jan 15, 2008
I would suggest you sit down with your Agent, and take a very close look at what homes have Sold in the last 2 months in your area. See what the actual selling prices were. Compare features. Then look at what your current Active listing competition. Try to make your house the BEST VALUE. Since Buyers have many choices and can be more "fussy" it may make sense to price your home just under what the competition is at.
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.
Web Reference: http://www.GoPackerUp.com
3 votes Thank Flag Link Tue Jan 15, 2008
This is hard. I definitely understand you must be getting pretty anxious. There are several things you need to look at.
- 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.

Good Luck!

Sincerely,

Tiffany Mueller
Prudential California Realty
2 votes Thank Flag Link Tue Jan 15, 2008
In ANY market that you are selling, you need to know:
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!
2 votes Thank Flag Link Tue Jan 15, 2008
You need an experienced agent in your city who knows the local customs and market.
1 vote Thank Flag Link Fri Apr 11, 2008
Your home has to be priced right. I would suggest that you put it hair under. You really have to make it stand out if you want it sold fast.
1 vote Thank Flag Link Wed Apr 9, 2008
There are many reason a home isn't selling. Location, price, condition and marketing are important. Make sure your agent is part of a Multiple Listing Service, has a web site, does Virtual tours and that you have one on your property, does open houses... Ask your agent if there is anything that you could do to help with the appeal of your home. Some agents are reluctant to point out negative aspects of a property to their sellers, but if you ask I am sure they will tell you if there are any concerns. Always find out what the feedback is from your showings. That will tell you alot.
1 vote Thank Flag Link Wed Apr 9, 2008
It is expensive, but a good idea to advertise you home in big city newspapers. The homes in Janesville are so much cheaper than comparable homes in Madison , Milwaukee, Chicago, etc. It would pay for some people to commute a longer distance to work if they could buy a home in Janesville.
0 votes Thank Flag Link Tue May 28, 2013
Hi Dan,

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
birsch@chorus.net
Web Reference: http://jdbirschbach.com
0 votes Thank Flag Link Tue Oct 19, 2010
Though this question was asked in January 2008, the average time on the market before receiving an accepted offer in Janesville and Rock County is now approaching approximately three months. As long as the home is truly priced right, is aggressively marketed, and it shows well; there is a good chance it will sell. Because of some changes in our local market, it's more important than ever before to be sure that your competition is being regularly reviewed to be sure that you remain "priced right" in comparison to the other inventory which changes daily.
Web Reference: http://www.scwihomes.com
0 votes Thank Flag Link Thu Jul 17, 2008
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