Jodi, Real Estate Pro in New Port Richey, FL

perhaps I am expecting too much, however, my home has been listed for 6 months and has been SHOWN 2 times. I

Asked by Jodi, New Port Richey, FL Mon Apr 28, 2008

have followed my agents pricing advise, the home is on canal to gulf, nicely landscaped and all redone. Is this normal these days?

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9
Jodi
What your Realtor has been unable to convey to you, the market has. In most markets prices are declining, so a lack of showing activity indicates a price/value problem.

How many homes, like yours, have sold in the last six months? Buyers want value, so Realtors direct them to homes that offer the most value.

Remember that it does not matter to the buyer the amount you owe, the improvments you've made, or how much you need to net. They will pay the price they can negotiate.
2 votes Thank Flag Link Mon Apr 28, 2008
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
Contact
Hi Jodi,
Phil's advice is solid.
Additionally, one of the first considerations for buyers is the properties asking price. It would be fair to assume this is an issue that needs to be addressed.

Good luck,
The "Eckler Team"
2 votes Thank Flag Link Mon Apr 28, 2008
Hello Jodi.. Looking at all the other answers that agents have given, I see a lot of good adivce and ideas.. The market is very slow right now and inventory is just now starting to go down slightly... When all the Foreclosures, Pre-Forclosures, Bank Owned, Short Sale and generally Distressed properties are sold, we will start to see some "normalization" to the market.. this is a slow process, but, it has started...
You need to have an agent that will give it all he has to get your house some attention... Visual Tours are important for out of town buyers, Local magazine ads, as much exposure as possible on various web sites, open house, etc... But before any of this can be effective, you need to be sure that your house is priced right, looks great, not cluttered or dirty and staged properly.. If you don't feel right about your agent's marketing, interview some other agents when your listing expires, or ask for an un-conditional withdrawal.,
Good Luck... Joe Zajkowski Future Home Realty..
1 vote Thank Flag Link Fri May 23, 2008
The market is challenging and the competition DICTATES your price. Doesn't matter what comps. are. Your home needs to be at the best price in a Buyers eyes. Only the outstanding homes and priced right are getting action. Be prepared for a low ball offer. Buyers are waiting for the BOTTOM. We tell our Buyers to make their own Bottom. Showings have been slow. Throw a Realtor party or Brokers Open House and hold drawings for prizes for those who show. Your Realtor must advertise to maximize your exposure. Have each agent write what price they think it should be. What objections there are. Then re-think price and your marketing. Jim Soda Prudential Palms Realty 941-809-7759 Sarasota, Fl.
Web Reference: http://www.jimsoda.com
1 vote Thank Flag Link Tue Apr 29, 2008
Jodi, Unfortunately, yes, this is normal. The buyers are only buying what they think is a steal. They're not even looking at properties that are reasonably priced. They're only looking at the ones that priced far below everything else that's on the market.

Here in the Daytona Beach area, we have over 2 years of inventory. When you look at how many listings are on the market, and how many sales are occurring each month, it amounts to over 2 years of inventory. And that's if nothing else comes on the market. So basically, if you need to sell quickly, you have to get your asking price down way below your competition.

I wish I could offer better news, but we're all feeling the stress of our nation's economic problems.
1 vote Thank Flag Link Mon Apr 28, 2008
Hello Jodi,

As mentioned in the other posts, price is everything in today's market. Make sure you ask for a current CMA of sold properties, expired and withdrawns. Agressive marketing is next. Since 87% OF BUYERS first start their search on the internet, make sure your agent as a strong presence.

These are difficult times and call for creative marketing. If it was priced right, it should have had more showings. You do not want to chase the market and I have a feeling, that is what you are doing.

Sorry.
Phil
Web Reference: http://www.PhilFowler.com
1 vote Thank Flag Link Mon Apr 28, 2008
Jodi,
Our office out of Tarpon Springs has a few listings in Gulf Harbors. There are a few different factors that are making this area difficult to sell. Price & Condition are the only items when a buyer comes into the community searching. You have to be very aggressively positioned with both.
Any help we can give, just ask.
Sounds like your agent and you are both cooperating, which is primary, and a second or third opinion might shed some light.
Keith Houtz
Weichert, Realtors Westshore
1 vote Thank Flag Link Mon Apr 28, 2008
Hi Jodi,
Keith below has a good take on the issue, you can bank on him. Be sure your agent has marketed your home to area realtors. The odds are (4:1) that one of them will have the buyer for your home. There are three parts to selling: the house-clean, pretty, painted etc; the price- ahead of the market by 5% if possible; and the marketing- open houses bi-weekly, internet capture of inquiries, responsive to inquiries by an office that is open 7 days a week at least 12 hours a day, neighborhood contact.
0 votes Thank Flag Link Mon Apr 28, 2008
Might be time to change agents. Do you know what kind of marketing your agent has executed on your behalf? Don't assume. Ask. Ask him to bring over all of the ads for newspaper, magazines etc, ask him to provide you with all of the websites and the URL showing where your property is currently being advertised.

You may be very surprised just what you were getting for your 6% or so that you were being charged. Furthermore, ask the agent his "batting average"...meaning how many homes he ahs actually closed on this year versus how many he has listed.

Now it may not be the agent's fault completely here. What do you have your home priced at? If it's at the top of the market it may take longer. Sellers need to be VERY realistic in pricing. In determining Current value really does not matter what you paid for the property and many amenities may not matter either.

You may need to take a good hard look at the reality of the market. This is not a time to "see what you can get". If you need to sell it, price it agressively and try to move it.

If you don't need to sell right now you may just want to take it off of the market.

Just my 2 cents.
0 votes Thank Flag Link Mon Apr 28, 2008
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