Alison Schue…, Home Seller in Cleveland Heights, OH

Our house has been on the market for two months. We are leaving at a set time and are worried about selling

Asked by Alison Schuetze, Cleveland Heights, OH Wed May 7, 2008

our house. We have lowered our price twice but have not gotten much interest. The price is very fair for the condition of our house. As it is priced now, we will be losing money on the sale. We are being told by our realtor that our house looks great but other realtors in the area are shy about showing homes in our neighborhood of Cleveland Heights. The houses that have sold recently because of foreclose are being renovated and will be coming on the market in the next few weeks. We are moving out of state and can't afford both mortgage and rent. What should we do?

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5
Alison,
Times are tough for all of us.I know that the market in the Heights area is saturated right now. I don't know the details and condition of your home either. Do everything you can to update your homein the least expensive way. All the buyers are aware of the sluggish market and are looking for bargains noe. I personaly sold my own home intwo weeks just a month ago.I too was hit by this market we are in. I priced my home slightly below market for the area and I got three offers in one week.I accepted something slightly over list price and It will be filing soon.

My advice is to do the same. Your home was just recently put on the market. Get it priced very aggressivley now and clean and paint what ever you can. Hold an OPEN HOUSE for three weeks in a row. Offer a Bonus to the selling agent of around $1,000. The pictures on the internet site is extremely important!! There must be lots of them. Inside and out side,back yard basement etc...
You can also be creative by offering the buyer a $1,000 gift card to Loews or something.Instead of the selling agents bonus.
If you still can't sell then start looking fora renter for 6 months or more.

Good Luck!!!
1 vote Thank Flag Link Thu May 8, 2008
Hi Alison,

I had to think about your question long and hard. You can not change how people think!

Please e-mail me again I don't want to post on this public site! I must have deleted your message accidently. send another message to me.
0 votes Thank Flag Link Fri May 16, 2008
A national report on NBC this year stated that if your house was THE BEST in an area, and you priced 95% of value, it would sell in a reasonable time.
0 votes Thank Flag Link Thu May 8, 2008
I used to live in Cleveland! Here's my thought.....if a home does not sell, it comes down to either Price, Product, or Pitch. How is your home being marketed? Extensive internet and online marketing? If the marketing is in place and the home shows well, it comes down to price. If I owned the home and needed to sell, I'd reduce the home 3% a week until I got into contract. If that seems extreme, how much will you by paying on your mortgage if you let it sit? How much is peace of mind work? Just a thought. Good luck.
Web Reference: http://www.cindihagley.com
0 votes Thank Flag Link Thu May 8, 2008
Cindi Hagley…, Real Estate Pro in San Ramon, CA
MVP'08
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Greetings Allison:
It is a difficult time for agents, sellers and buyers alike. The agents are working harder, spending more money and hours trying to help everyone, and earning less money The sellers are frustrated as are the agents, and the buyers have so much to choose from, that they are in no hurry to make a decision. Cleveland Heights has over 615 properties on the market - 543 of which are single family residences. Unfortunately when the supply is more than the demand the only thing a person can do is make their home the most appealing - , Make sure your home is the best of what is in its price range, offer assistance to the buyer so they can purchase your home. Many buyers have -0- money and the n-0- money programs are gone. Try placing advertisements/verbage in the comments for a home with grant money and bond money availability if it applies. Check into leasing with purchase option, and as hard as it is - in this market, price is everything...lower the price and keep lowering it until it sells.... Hope this helps
Web Reference: http://jeanninesells.com
0 votes Thank Flag Link Wed May 7, 2008
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