Home Selling in Bushkill>Question Details

Barbara Sand…, Home Seller in 18324

My house has been up for sale for 2 months with a local broker. I live in a community in Bushkill, PA and

Asked by Barbara Sandberg, 18324 Wed Jul 2, 2008

have dropped the price $20,000 to $259,000. I know the market is bad here but should I consider another broker or take the house off the market. I can't afford to go too much lower with the price and wind up with what I paid for the house. Not one single showing.

Help the community by answering this question:

Answers

5
There is really a major question that you need to answer for yourself before you decide what to do. Will you sell, or will you hold? If you have to sell, then you have to lower the price or have your agent do something differently to get the word out. If you have not had a showing, then we know that nobody who has seen the listing thinks it such a great deal that they have to rush right over to see it.

Because it is in Bushkill, I would ask the agent if the listing is being advertised out of the area. (at least on a couple of strong internet sites) Your buyer might be likely to come from quite a distance away.

From your message it sounds as if you really need to sell, so holding on to the property might not be an option.

Do talk with your agent. Changing agents is unlikely to make much difference unless the one you have now is just not doing anything right. Most of the agents in your area are very aware of the out of area buyers and have fairly strong marketing programs to attract them.

I do wish you well. Remember, two months is just starting to get close to the average for Days on Market (DOM) in this financial climate. You might ask your agent to show you the DOM for your area.

Eileen's Green Team at Gateway
2 votes Thank Flag Link Thu Jul 3, 2008
If no other properties in your area have sold, it mean there are no buyers.

If other properties in your area have recently sold, it means that buyers believed the price/value relationship for those properties superseded yours in the minds of the buyers.

Selling your property comers down to price and exposure. While you can take steps to increase the value of your property by cleaning, decluttering, staging, painting, and taking better and more pictures, some characteristics of your property cannot be changed….namely location. Any shortfalls in your property can be offset with price, which is why it comes down to price and exposure. Exposure depends upon the marketing provided by your broker and agent, as well as the ease of accessibility which you provide. If you make it difficult for buyers to see your property, your exposure decreases. Your broker and agent will provide the marketing.

The right price at the maximum exposure will bring you a buyer, unless there are no buyers in your marketplace. Consult your local Realtor to review the comps in your area and determine the right price and review the marketing provided for your property.

Deborah
1 vote Thank Flag Link Wed Jul 2, 2008
Deborah Madey, Real Estate Pro in Red Bank, NJ
MVP'08
Contact
Speaking strictly for myself, my husband and I had our house at 149,900 when the market was good before the bottom fell out. We are now down to 110,900 and are down as low as we can possibly go now. We are considering taking our house off the market for a little while until the market improves. With such an influx of inventory, we aren't willing to let our house go for less than what we paid for it and swallow the loss. It's not worth it for us. We are fortunate in the sense that we don't HAVE TO move, we just want to. If it means putting it off for another year or two, so be it. We have done everything we can to make our home attractive, but if no one is interested right now in buying, we will wait until they are. As disappointing as it is, we aren't willing to short-change ourselves. If we let our house go for less than 100,000, we won't be able to afford the new home we want to buy.
0 votes Thank Flag Link Thu Apr 28, 2011
Barbara
Before you blame the Realtor do yourself a favor.
Ask them how many homes, like yours have sold in the time yours has been on the market, how many have lowered their prices, how many have started escrow.

If your home is not being shown know that the Realtors are not on vacation. They are showing other homes that they believe offer more value. What you paid for the propery, what you owe, how much you spent on improvements, do not matter to the buyer.

Only value.
0 votes Thank Flag Link Wed Jul 2, 2008
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
Contact
I would suggest to make an appointment with your realtor to go over a comprehensive market analysis. That should give you an idea of what the other houses have sold for and if you are way overpriced or not. When your listing expires you can always get another opinion then as well.
0 votes Thank Flag Link Wed Jul 2, 2008
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer