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Gail, Home Seller in Missouri

What if you keep getting the same feedback about your house and it is something you cannot change?

Asked by Gail, Missouri Tue Aug 26, 2008

Our house has been on the market 6 months and we have only had about 10 showings, the objections have been no basement, don't like the way the house sits on the lot or it is too small (1800 sf ranch). We can't change those things so we have lowered our price $35000 to try to get it sold. It is only 1 1/2 years old and has all the things we were told people wanted, we are also on a lakefront lot in a golf/lake community, and the other 2 houses for sale on lakefront although bigger in sf have no basement and are $80-$100,000 higher than ours and are 8 years old. We don't know what to do as we are almost to the bottom of our price option and health issues are requiring us to sell the house. Can anyone help???? We need suggestions

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3
Gail
Sales have been slow. According to Trulia there has been ONE sale in the last three months.
First, if you'd like a referral of a top local REaltor I'd be happy to try to help you. You need straight advice from a local market expert.

Second, is renting it an option? You need to know that in soft market renting a property is almost the only "best option". When you sell a home, the price you paid, how much you owe, or how much you need to net at the close of escrow make NO difference to a buyer. Buyers will buy the best value homes first.

Your market looks to be particularly tough, so you'll need a top notch agent, and from the looks of things you'll need to take a hard look at your pricing.
0 votes Thank Flag Link Wed Aug 27, 2008
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
Contact
It is common for the agents to give standard feedback because it's easy. The good thing is that you are getting showings. We have some homes in this market that aren't getting any. The best thing for you to do is to capitalize on your good features in order to minimize your bad features. I was in a slab home today on our agent tour that had been totally updated and literally outshone every other home on the tour because of how gorgeous it was, even though it was a very tiny slab home compared to the other homes we visited. The floors were hardwood or wood laminate that gleamed, the bathrooms had slate and marble floors, walls and bathtub/shower surrounds. The kitchen was a dream, the windows were updated, as was the roof and systems. Now even if your home isn't that updated, your home can still shine if it's a) super super super clean from the floors gleaming to spotless windows to being totally decluttered and properly staged whether you pay someone to stage it or you do it yourself with your own belongings (the home today was done by the home owner iwth their own stuff), make sure that the home looks modern and sleek, not old and frumpy - it needs to look fresh and young. Focus on your positives - if you have garden windows play them up, if you have a wonderful patio, stage it to show it off, if you have a great kitchen, make it look like someone is ready to fix a meal. Make the whole home look wonderful and inviting.

Keep in mind that the market is changing everyone's perception of value and with the newest rules for getting loans it's a lot harder for the first time home buyers to get a 100% loan now and many have never saved enough for a downpayment, as a result, many of the first time homebuyers are getting squeezed out of the market, which has a domino effect on the next level - no one to buy their homes, so they can't upgrade to the next level of home, then the domino keeps falling.
Web Reference: http://www.yourstlhome.com
0 votes Thank Flag Link Tue Aug 26, 2008
Hey Gail. Good luck on selling your home! If you are getting negative feedback on things that can't be changed then you need to make sure that the home shows 100% perfect. You need to control everything that you possibly can & make it stand out above the "comparable" competition. I am not sure why buyers are looking if it is too small or doesn't have a basement to begin with unless they are really considering it. Also, make sure that your agent is digging to get realistic feedback. Like I said, if they weren't at least considering a home like yours they wouldn't come to begin with so there must be another reason that their agent isn't telling you. You need to find out what it is & fix it. Most markets are really tough right now & only the best, cleanest, well priced homes are selling.
0 votes Thank Flag Link Tue Aug 26, 2008
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