Home Selling in Dewitt>Question Details

Jay, Home Seller in Lancaster, NY

We now live in Buffalo, NY but have had our home in DeWitt on the market for over a year. Two price

Asked by Jay, Lancaster, NY Thu Jun 5, 2008

adjustments and no buyers. We have a good agent but are getting desperate. Is a $1000 gas card an acceptable gimmick? Does anyone else have any other ideas besides a market analysis, home inspection, or lowering the price again?

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The market has been tough depending on your price point. My best advise, and I've seen everything under the sun when it comes to gimmicks to sell homes. If you take the $1,000 and offer at as a buyers agent bonus that will get you the most activity for your investment. As Realtors we are not allowed to steer buyers to a certain home or neighborhood, but I do see properties with this kind of incentive selling more often that homes without an agent bonus. Furthermore, when I've had properties in the past with this type of bonus I'd circulate a flyer through the Greater Lansing Association of Realtors (which goes to the 800 agents in our area) stating that this home is offering a buyers agent bonus. In addition, a broker open might be a good idea. This is where you offer snacks and drinks to other Realtors as a way of getting them in the door to view the home. The goal of this is to jog the agents memory and to keep your home top of mind for future buyers. Hope this helps
0 votes Thank Flag Link Sat Feb 11, 2012
Jay - am looking in Dewitt; please em your house specifics and MLS no, - would love to look at it. Please em at kputnam2005@sbcglobal.net. Thanks
0 votes Thank Flag Link Wed Mar 10, 2010
I would like to know more about the home actually. The housing market in Dewitt is starting to rise as houses in my area are being bought left and right. My husband and I are trying to find a home and owuld like to know about all the homes for sale in the area.
0 votes Thank Flag Link Mon Aug 3, 2009
If the house is empty, have you ever considered staging it? (BTW, I had an open house last week in DeWitt and had three groups in the first 1/2 hour.) There was a house in Grand Ledge that was on the market 9 months clean and new, we staged it, and the owner recieved an offer in 30 days without lowering the price. Sometimes you just have to make the home FEEL like home to the prospective buyer. But I do agree with the California agent, if you've tried everything and still nothing...it's the price.
0 votes Thank Flag Link Tue Jul 14, 2009
Unfortunately, the market in Michigan is slightly different than the market in California. The house has been listed in the middle of the pack (short sale) since it was put on the market. Brokers open houses have been attempted, but realtors in this area do not attend them. Even giveaway gimicks do not bring the brokers into the house. In fact public open houses do not generate traffic in the area, and some realtors have discontinued them all together. The house has been listed on Craigslist. There has been more than double the inventory v. number of buyers for the past 2-3 years in that area. If you have any other creative ideas, we'd love to hear them.
0 votes Thank Flag Link Thu May 21, 2009
In a buyer's market only the homes that scream "BUY ME" are going to sell. Gimmicks do not work. Value does work...every time. Most markets have been declining for the past two years. You probably would have gotten more money if you have priced the property slightly below market two years ago and created an "auction effect" and the buyers would bid against each other.

After two years, which is WAY TOO MUCH market time, everyone know that your property is over-priced. Otherwise it would have sold all ready.

I would offer you this advice:
If you are not able/willing to price the property to sell, then take it off the market and rent it.

If you ARE going to sell, know that the property, to qualify for a principle residence, needs to have been your home for the past three out of five years...so time is running out.

I would take it off the market, enhance the curb appeal with fresh plants and flowers, re-shoot the pictures, and lower the price to slightly below market. Send a mailing to 200 people in the local neighborhood for a special open house, put it in Craigslist, and have a broker's open that same week. Assuming that your Realtor is marketing effectively (meaning the property is on at least 30 websites), if there is a buyer out there, you will find them.

BTW, how many homes, like yours , have sold in the past two years?
0 votes Thank Flag Link Wed May 20, 2009
Keith Sorem, Real Estate Pro in Glendale, CA
Have you ever thought of a lease purchase? We live in Dewitt now, and are seeking a nice home to do a lease purchase. We have lost our home to foreclosure as of last July. I am gainfully employed, and have been for 7 years.....we just couldnt afford $4000.00 a month any longer. Realtors never seem to be interested in presenting this option. If you are interested email me.
0 votes Thank Flag Link Tue May 19, 2009
There are several advantages to having your home professionally inspected when it is listed and sitting for a period of time: It gives you an objective, inspector's eye point of view; Enables you to make needed repairs; substantiates your asking price; avoids the 11th hour renegotiation. Home Inspections & Indoor air quality testing in Western NY. Signature Property Inspection (716) 289-1858
0 votes Thank Flag Link Fri Aug 15, 2008

Thank you for answering my question! This is so wierd because we saw your home on craigslist (for sale) and I thought I'd take a chance and call your realtor. Well, yesterday I did and it didn't seem like it would work out. She stated that you would be interested in leasing with 5-10k down and for a few years before selling it. We were looking to spend $1200-$1500/mo. If I misunderstood or you change your mind, please feel free to email us. thenewman6@charter.net. I drove by your home yesterday and it looks great! Surprised it hasn't sold!

Angie (Ann)
0 votes Thank Flag Link Thu Jun 5, 2008
You could offer to pay closing costs, which is common in our area of Connecticut. Offering 3 months of mortgage payments would be another incentive. Check with your accountant, you may be able to claim some of these expenses on your income tax.
0 votes Thank Flag Link Thu Jun 5, 2008
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