Home Selling in Cibolo>Question Details

Meg, Home Seller in East Helena, MT

HOUSE NOT SELLING?? On the market for almost 5 months!!!

Asked by Meg, East Helena, MT Thu May 14, 2009

Hello, I noticed someone asked for BRUTALLY HONEST feedback on their house, and I am asking for the same, please. We have to sell our home, the market here is hit and miss, a few houses selling...how can I help speed up the sale?
Thanks in advance for your helpful feedback!!! Check out the pictures and MLS listing...
http://www.helenaidx.com/agent_specific_listing.php?mls=2711…
(see virtual tour for the entire house...)

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Answers

6
Hello Meg,
I looked at the pictures of your home and it looks clean and well staged. I can't really offer any other feedback on how your home "shows." I would say that pricing is the single most important thing to consider when selling a home in this market. Do you feel as though your home is priced competitively? Speak to your listing agent about your concerns. Are you having regular showings? Have you made any price reductions? What feedback is being offered by buyers looking at your home? I understand your frustration. Try to stick in there and stay positive. The slow market is hard on a lot of people. Take a close look at your price and marketing strategy and see if there are some areas that need more consideration. Good luck!
2 votes Thank Flag Link Thu May 14, 2009
Meh
You asked this question way back in May......so tell us what has happened in the past 7.5 months? Did it sell?
0 votes Thank Flag Link Fri Dec 25, 2009
These have been told/blogged over and over again on why homes don't sell

REASONS WHY HOMES DON'T SELL

If your home has been on the market for weeks and you are still awaiting that first offer, here are some possible explanations.

1. YOUR HOME IS OVERPRICED
This is the most common reason a house doesn't move. The phrase "There’s a buyer for every home" often omits the part "at the buyer’s price." Overpricing often works against you. Most real estate agents and buyers will see your listing within 30 days. If your home is overpriced and you have no intention of lowering your asking price, interest may wane and you may have already priced out buyers that may have qualified for a slightly lower price. Your house may not appraise at the figure you are asking and financing will fall through. If your home stays on the market too long, agents and buyers may wonder if there are other problems with the home.

2. YOUR HOME DOESN'T SHOW WELL
Since your home may be competing against new homes in new subdivisions for about the same amount of money, you may need a little makeover. A good real estate agent will be able to give you some very helpful tips in this area.

3. YOU'RE IN AN AREA LESS DESIRABLE THAN OTHERS.
If your home is in a less than desirable area, you may not have as many options. A good real estate agent will focus on the positives of your home but you may have to lower your asking prices or add some kind of incentive to the buyer.

4. YOU ARE BATTLING COMPETITION/MARKET
We have all heard it's a "buyer's market" or a "seller's market", but market conditions are constantly changing. In a "hot" seller's market, the homes can sell fast and you may even be offered more than what you are asking because inventory of homes may be low. In a "cold" buyer's market, more homes are for sale so buyers can find more and sometimes better deals. There is more competition and you may choose to wait until a more favorable time to sell.

5, YOUR MARKETING IS INEFFICIENT, INEFFECTIVE, OR INADEQUATE

The way your home is listed has changed from years ago. Many top performing real estate agents do a multilevel marketing plan. Traditional methods include listing with a multiple listing service, doing open houses, advertising in newspapers. flyers and publication in local real estate brochures. Computers and the internet changed the real estate market. The National Association of Realtors says that more than 86% of all homebuyers use the internet for house hunting. Check with your agent about their plan for marketing your home.

Good luck!
0 votes Thank Flag Link Fri Dec 25, 2009
Dear Meg;

How many showings have you had in last 5 months? How much exposure is your home getting?
How many web pages is it on?
This is the buyers market and every buyer is looking for a GREAT deal. If you want to sell your house in todays market you will need to make it stand ahead of the line. Offer a selling agent bonus.
One thing you might want to try is go and see other homes being offered for sale in your price range and compare them to your home. Remember these homes have not sold YET. If you dont have to sell take it off the market for next 90 days. Good luck!

Ifeta Faye Redzovic Broker Chicago Il
0 votes Thank Flag Link Fri Dec 25, 2009
I think your house is staged nicely, and the colors of the walls are not so bold as to throw prospective buyers off. However, your house is not brick or stone, and there is only one bathroom. While the lot size is great, there doesn't appear to be much done in the way of landscaping or making use of your outdoor areas. While the fact that you have all that space might be attractive to buyers with large pets, the fact that there is no fence means additional expense to the buyer if they want to accommodate their needs. The only thing I can recommend is lowering the price enough that a one-bedroom home with plenty of space to build onto (additional bathroom/sun room/fence, etc.) becomes attractive to potential buyers.
0 votes Thank Flag Link Wed Aug 26, 2009
Meg
How many homes, like yours, since your home hit the market, have
Come on the market
Lowered their price
Entered Escrow
Sold
Expired.

the truth is that homes are selling. In your market (see link below) the ONLY homes that sell need to scream BUY ME so loud that buyers will listen. The problem in a buyer's market is that ONLY the best values sell. If you are serious about selling, then you need to ask your Realtor, since you hired them to sell your home, if other homes are selling, why isn't mine.

In most cases the easiest way to add value is to lower the price. There are many other ways, your Realtor should be able to advise you on what it will take to sell your home. if they have been advising you to adjust the price, and you have not, then congratulations, meet the new owner of your home...YOU>
0 votes Thank Flag Link Sat May 16, 2009
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
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