Home Selling in 78254>Question Details

Stephanie, Home Buyer in San Antonio, TX

I have listed my house and dropped the price several times and have had several showings. But NO offers -

Asked by Stephanie, San Antonio, TX Sat May 24, 2008

not even a low one! I am not sure what I am doing wrong. The address is 9235 Windward Trace, San Antonio, TX 78254.

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Hi Stephanie,
I am in San Antonio, and MLS shows that you house has been on the market for approx. 68 days. I did some research through the local MLS and there has been 12 homes sold in your community since 11/07 and the average days on the market was 70, and the average price per sf. was $65. Your house at the current price is $66.49 per sf. So it looks like you are in the range on the price and the days on the market is nearing the average. Looks like your Realtor has done a good job. So be patient, and communicate with your Realtor regularly as to what is happening in your area. As Leonardo says the market is long on inventory. But this is a good time of year to sell as a lot of famililes look to relocate during the summer when schools are out. Also, as Chris suggested look at have someone come in to Stage you Home, I can help you in that area with the name of someone I can recommend,perhaps you Realtor can recommend someone. Hope this helps you.
Eldon Baker
Web Reference: http://www.eldonbaker.com
3 votes Thank Flag Link Sat May 24, 2008
There's no need to be overly concerned. Your home has been on the market just over 2 months, which is not unusual. In fact, you are still a few days away from the average DOM.
2 votes Thank Flag Link Sun May 25, 2008
The others have already provided good answers, especially those who've actually pulled your home up in the MLS and given you some very specific advice. Not knowing your market, and not knowing your situation, I can just make an additional observation. If, as they say, you're "right in the ballpark" regarding price, and days on market isn't excessive, it really depends on how quickly you want to sell. If you're highly motivated, drop the price so it's clearly the best value in your area. For instance, if there are other houses now on the market competing with yours at #120,000, $123,000, and $126,000, and yours is priced at $124,000...while that's certainly reasonably priced, it's not standing out. A price of $119,000--something below the nearest competitor--will really stand out and make your house more attractive price-wise.

Make sure your house shows well. And stay in regular contact with your agent regarding suggestions and the feedback from other agents and buyers.

Hope that helps.
2 votes Thank Flag Link Sun May 25, 2008
Don Tepper, Real Estate Pro in Burke, VA
MVP'08
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Howdy Stephanie,

I just reviewed the market for Stonefield and it seems that you are in line with other homes in the area. I noticed that you have lowered your asking price by approx. $6K since you put the home on the market in March. Your agent Vanessa has done a great job with the mls listing to show the max number of pics. and has put in some great information in the remarks section. Vanessa is one of the top notch Realtors in our office and you are definitely getting the max exposure through the Power of the RE/MAX marketing system. Our San Antonio real estate market has required sellers to be more patient in the season that we are going through. I would think that local & out of state buyers would wise up to our market and see it for the great opportunity that it is. Unfortunately, many people have bought in to the national media panic of what other states are going through. Our market is on a steady rise in the amount of people that are starting to relaize that it's a local thing not national.

You are going to be ok and I would expect that an offer should be coming your way soon. Hang in there and have some faith in your agent and you will see results. I'm sure Vanessa wants the best for you and any advice that she gives you will be for your benefit.

PS - I will keep your home in mind for clients looking in that area. Stonefield is a great area and has many things going for it.
Web Reference: http://www.ronmersinger.com
1 vote Thank Flag Link Sun May 25, 2008
Stephanie,

It sure can be frustrating! Typically there are only three things that can totally stop the sale of a home either the price is too high, it's not in good condition, or it's not getting enough exposure. You do need to communicate with your agent to ensure that they are getting the home exposed in a multitude of ways and to ensure that your pricing is good. You may want to get a stager in as well to ensure that the property shows very well.

Good luck and I hope it sells soon!
Web Reference: http://www.ChrisTesch.com
1 vote Thank Flag Link Sat May 24, 2008
Hi Stephanie,

Have your Realtor print the market stats for your local market, his/ her MLS should give them the tools to do this. It can even break it down by Zipcode (at least ours does). You need to have the trend of the market knowledge and see how much supply of inventory is in your price range. This will help you see how much actual competition is out there. This is fact based data that does not sugar coat what is actually going on in your area. If your home is priced right with the trend of the market you should sell it. If it is still high then you need to have it more in line. Remember also buyers are thinking 6 months ahead.....so If you are priced 6 months ahead of the trend it will really sell fast (buyers market only, your market might be different). Eldon Baker has given you some great fact based data ...... now just make sure it is in line with Your local market direction and review the Stats with your Realtor.

Michael Brenner
0 votes Thank Flag Link Sun May 25, 2008
Hi Stephanie,

If you feel that diligent work was done by your Realtor, that reasonable exposure and price are at the correct levels then I suggest 2 things you can do to try to get some extra traction. I have done on some of my listings when the sellers did not want to lower the price. You can offer to pay buyer's non recurring closing costs, up to $$$ amount. The last thing i can think of is to remove your property from the market for 30 days and get a fresh start. Remember to have a lot of patience because the market is overflowing with inventory ( around 11 month's worth of it.....) Good luck!
Leonardo
Web Reference: http://www.leonardoteam.com
0 votes Thank Flag Link Sat May 24, 2008
What does your agent state? Is your home staged correctly appears like a new home, closets cleaned, curb appeal and etc. The housing market is down, it also depends on the value of your home, the more expensive homes usually are on the market longer, is your house considered to be fashion forward. What is the area sales, how long are other homes on the market. Now since school is ending homes sales should be increasing, from Oct - April homes don't usually sale as quickly during the busy months.

GOOD LUCK
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Sat May 24, 2008
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