We are stuck trying to sell in this market in the NW Lincoln area. We have lowered our price so that it

Asked by Jamie, Lincoln, NE Wed Mar 4, 2009

far below the comparables in our neighborhood. It is staged beautifully and as a newer house, very well kept. We are including all of our appliances, including the washer and dryer. We have two drawbacks; we have a slab foundation and are located with our backyard facing a upcoming busy street. We have had tons of showings, yet not a single offer. What else could we possilbly do to make it attractive to buyers without dumping more money in that we will not see a return for? Please help, we are getting desperate!

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Matthew O'Sh…, , Lincoln, NE
Fri Jun 19, 2009
Unfortunatley, it is very difficult to sell a home with no basement in Lincoln. If you notice, it seems like most slab homes are being rented. There are a few tricks you can do to help the sell of your home. Ask your Realtor to focus marketing the home to disabled individuals or senior citizens who are unable to climb stairs. Most individuals who cannot scale a stair case will purchase a slab foundation home, because they cannot keep multi-levels clean, and all of the aminities are on one level! Some investors may be willing to purchase a slab foundation home because they are cheaper than a similar home with a basement, and they can rent for a desirable montly payment. Keep your head up, and keep your Realtor focusing the marketing of your home towards those who have a use for a slab home!
1 vote
ruby smith, Agent, San Francisco, CA
Wed Sep 15, 2010
Well, you have a almost too usual of story. This is very common. Sometimes it takes doing something unusual like offering a bonus to the agent bringing a buyer. I don't know what your value is, but lets imagine that your property is priced at $500k, if you have been inching down your price, it makes it look like you might not know what to do and so the jackels sit by the wayside waiting for your next move. The market will give you your answer. So, i would advise first offering to the buyers agent an extra $5k, its better then lowering it $5k because that's such a small amount and it generally gets attention, make a caveat on it that it's only for a full price offer., Give it two weeks then lower your price within 2-5% lower then the mot rececnt comp. If that doesn't make it happen then I would advise that unless you really need to sell because you have to relocate for a job or something like that, then you should stay put. The universe has spoken
0 votes
Tom Priester, Agent, Tequesta, FL
Wed Sep 15, 2010
Jamie,

When you said you are priced far below the comparables in our neighborhood. I am assuming you have made the required adjustments for the busy road and the fact that the other homes have basements. Perhaps you have not discounted the price enough to account for these items. I would have your agent take you through other homes that are on the market in your neighborhood and do a very detailed analysis of where your fits in price wise. Busy roads are a tough sell.
0 votes
Upsetdisable…, Home Buyer, Nebraska
Sat Sep 11, 2010
If more people were willing to do just a Rent To Own or Lease To Own it would be MORE appropriate for a DISABLED family to get a home! Most of us disabled folk CAN NOT add a LOAN to our bills. It would kill any and all income we have! My husband is a disabled Veteran and his ex wife ruined his credit I do not have any built up since I have been disabled since childhood! So if renting to own were an option more disabled folk would purchase. Very few and far between disabled would just dump a Rent To Own. But now see no one seems to have that common sense any more. We have tried to find someone to work with us but it seems near impossible so we are stuck living nearly an hour away from our doctors in a dump the landlord wont fix and our disability money just goes out the window on something we want nothing to do with owning. We just got thrown into a 18month lease. Few Disabled Veterans will just go and blow off a opportunity to OWN A HOME OF THEIR OWN! See its the old tales of "woah and blah" that everyone will rip you off, however that is actually not true. We are looking for a ranch style home. Just not the junk of a 3 to 10 million person party or added interest beyond our means. Which is what you get when you get a loan!
0 votes
Michael Culv…, Agent, Atlanta, GA
Wed Mar 4, 2009
You could advertise a seller "buy down" of the interest rate. This can be cheaper then a further price reduction and can lower a buyers initial interest rate as much as 2 points. Call a local lender for details on this. The lender may even be able to produce flyers for you offering special financing programs depending on your price point.
0 votes
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