Question Details

Terry Bierwi…, Home Buyer in

House has been on the market 6 weeks and noone has previewed. 274,900, 3bdrm, 1950 sq ft. Advice?

Asked by Terry Bierwirth, Mon Oct 8, 2007

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6
If you're not getting any showings it usually means you're more then 10% too high. If you haven't already, have a Realtor or two do a market analysis for you. If you have a Realtor have them re-visit the list price. Also look at what the average days on market is for your area. The other thing to check is how many other homes have gone "pending" during the time you have been on the market. If no other homes have sold it just could take awhile and the price reduction won't matter.
1 vote Thank Flag Link Mon Oct 8, 2007
Terry
We have read many posts like yours. You might want to do some searching on Trulia for different takes on your situation.
1. My rule of thumb is ten showings or two offers in two or three weeks, or lower the price by 5%.
2. How many homes, like yours, have sold during the last six weeks?
3. How many homes, like yours, have gone into escrow in the last six weeks?

Please respond, and you will amazed at the information.
Keith
0 votes Thank Flag Link Mon Oct 8, 2007
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
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First, do you have a Realtor? If not, that would be the problem. I see so many people with simply a small yard sign, with faded writing so you can't see the number, in a gated neighborhood. It amazes me that these folks wonder why they get no calls.

If you do have a Realtor marketing your home, it is most likely overpriced. In some areas, even the lowest priced listings are still overpriced. If you're not getting any showings, that is the most likely issue.

I agree with Stephanie that you do want to visit with your agent and review their marketing plan. If it does not include a heavy emphasis on internet advertising, you're missing 90% of the home buyers out there.
0 votes Thank Flag Link Mon Oct 8, 2007
I agree. Lowering the price will make it more attractive. Also, see if your agent is using internet advertizing as well. If not, encourge them to.
0 votes Thank Flag Link Mon Oct 8, 2007
Lower the price. What you describe means it's priced too high.
0 votes Thank Flag Link Mon Oct 8, 2007
Since it's been 6 weeks since you've listed it, my first thought is that it may be overpriced. When you listed the property, did you see what other comparable homes were selling for in the market? If the price seems in line with other properties, then are there any details that make your home less desirable than other similar homes?
Web Reference: http://www.theroyalteam.com
0 votes Thank Flag Link Mon Oct 8, 2007
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