Nancy,
You said it is listed with an agent. Is it a full service brokerage? If so, I suggest you set down with your agent and ask them what are they doing to get your home sold quickly. What is their marketing plan? Where are they advertising your home? I also suggest that you discuss what your alternatives are if it does not sell before your new home is ready. The reality is you may need make to 2 mortgage payments for a period of time. Are you willing to rent it out for a year? You might want to talk to your agent about a rent to own program. That might attract more buyers. Or if you don't get any showings you need to reduce the price even further. We live in Frederick, Maryland. It was a hot market a couple of years ago, over 20% appreciation a year. These days it is just the opposite. Now, we tell our sellers if it doesn't sell in 30 days and you don't get regular showings they need to reduce the price by 1% and continue to reduce the price every thirty days by 1% until it sells. The percentage in you area may be different , but you need to stay ahead of a falling market. One other idea that comes to mind is if your house can qualify for FHA you can give a gift to a buyer through a program like Nehemiah. The web site for Nehemiah is
http://www.getdownpayment.com. With a program like Nehemiah and FHA you can get a qualified buyer to buy your home for no money down. That might attract buyers. I hope that helps
- Fri May 23 2008, 19:53