Home Selling in Lockport>Question Details

Gwen1234, Home Seller in Lockport, IL

Our townhouse has been on the market for almost a year in the Navajo Subdivision -- we've updated EVERYTHING and taken extremely good care of our

Asked by Gwen1234, Lockport, IL Thu Mar 25, 2010

place -- our second child is almost here and my husband and I are desperately trying to find a buyer for our townhouse -- any one looking for a great place for a great price??

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I have been looking for a townhouse in your area for almost a year. I have probably viewed your listing online. If your townhouse is in good condition, I probably passed it up because of price. Taxes in Will County tend to be on the high end so the price has to balance that out in the overall monthly payment for me.
0 votes Thank Flag Link Sat Apr 3, 2010
Hi Gwen,

Great advise on here. The homes marketing program and price is really what will find a buyer. Are you using an agent, or FSBO?
Web Reference: http://robdomke.com
0 votes Thank Flag Link Fri Mar 26, 2010
I am assuming by your statement, that by having your townhouse exposed to the market, you are
being represented by a Sellers Agent. It may be time to give that agent a call and ask them to give
you a current profile of the market for your area - how are townhouses selling, what is the absorption
rate for your area? Your subdivision? Agents get stale on properties or just get burned out and lack
the enthusiasm from when they first listed your house. You may be approaching that time when you
will be asked to renew your listing with the firm - what kind of a marketing program or plan do they
have to promote the sale of your house? Remember too, most of the country has come out of a
terrible Winter, now that Spring is here it is time to talk with your agent and strategize - but find out
what the market is doing - that market data should be made available to you. Don't do this on the
phone, have the agent come to your home and make a new presentation.
0 votes Thank Flag Link Thu Mar 25, 2010
A year is a long time. Have you gotten traffic through the house? What is the feedback you received from those that viewed the house? Consider what potential buyers are saying and make adjustments accordingly.
0 votes Thank Flag Link Thu Mar 25, 2010
If you have been on the market for almost a year and your condo has not yet sold --consider a price adjustment sooner rather than later--you need to be aware of recently sold similar properties in the immediate area--review the data and make a determination as to a fair price. Keep in mind that a home is worth what someone is willing to pay for it; it doesn’t matter what the seller needs or potential buyers can afford to spend. Market conditions do matter as does the immediacy for a transaction to take place. In setting a price, it is in the seller’s best interest to focus on the current market conditions--Pricing and marketing are paramount in today's market.
0 votes Thank Flag Link Thu Mar 25, 2010
Try using a range in your pricing of the property. For example, if you are asking $200,000, try puting a range of $179,999 to $200,000. By doing this you will widen the pool of potential buyers. With an increase in the pool you might be able to have serious buyers bid on the property thus resulting in the best price.
0 votes Thank Flag Link Thu Mar 25, 2010
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