Home Selling in Reedsburg>Question Details

Desperate, Home Seller in Reedsburg, WI

We have a condo for sale in Reedsburg that has been on the market for 1/5 years with almost no lookers.

Asked by Desperate, Reedsburg, WI Thu Mar 5, 2009

We've completely remodeled it to help make it stand out. What else can we be doing? Honestly, it's cheaper to buy this than it is to rent in the area? I'm totally confused as to why it hasn't sold. Any suggestions?

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It has to be overpriced. In this market that is so busy it should sell. You did not mention if you have a good Realtor of if you are a for sale by owner. You need a good Realtor
0 votes Thank Flag Link Sun Jun 21, 2015
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0 votes Thank Flag Link Sat Jun 20, 2015
Do you state the huge HOA fees in your advertisement or the property taxes? Is your building known to be full of noisy youngsters and/or a hangout? What about the photos, are they tasteful and does the outside area look well maintained? If a small size condo which would appeal to an older person, are there too many stairs to climb, electric (expensive) heating, and no garage? Just saying..... And one other thing, when a prospective buyer calls your realtor, are they getting the "I'm all booked up and too busy to show it today, how about next week sometime?" or "I'm sorry the realtor isn't in and I don't know when he/she will be back", or some other stale answer. When a prospect it hot, the realtor has to react quickly and not let them sit over the weekend to think about other properties that are readily available to look at?
0 votes Thank Flag Link Fri Jun 19, 2015
Have a professional appraiser come out and give you an appraisal. It maybe priced to high and that why you have no one looking at it... I know its not what you want to hear, but thats what happens when a place is priced to high. I always tell my sellers if you want to price it right get the appraisal done and know where you stand as they do 100's of these a month and really know the market inside and out! Then price it where they say the values at and you may end up with a bidding war... its very possible. You never know till you try it, other wise you could be sitting there another few 1/5 years before it sells.
0 votes Thank Flag Link Sat May 31, 2014
Interesting, as we are looking for a condo in Reedsburg and not finding any that are decent and affordable. I also know of 2 other couples who are looking for no yard work.

We are finding the condo fees and taxes ridiculously high.

Also, looking for one level living with laundry on main level, a decent size master bedroom with it's own bath, a second bedroom on main level and a finished lower level for 3rd bedroom and quilting room.

Seems impossible, right?
0 votes Thank Flag Link Sat May 31, 2014
Condo are a real issue right now. Most lenders want 10% or more down to purchase a condo. It is getting harder and harder for buyer to buy them. Most condo buyers can not get a FHA loan on them so this takes out a lot of first time home buyers. We use to be able to get a WHEDA loan on them but they are out of money. So I would say that because it is cheaper then rent it is that a first time home buyer might be who would be interested in it and they can't get a loan. All we can hope for is that things get better with this lender issue.
0 votes Thank Flag Link Fri Mar 6, 2009
You have to determine if it's the market or your price and marketing.

Have other condos sold in Reedsburg in your price range? If not, then it's a strong indicator that your market has stalled.

If they have sold, you need to compare your condo to the ones that have sold. Did the buyer get a lot more property, for the same price, than they would get with your unit? Then you are overpriced.

If the other units truely weren't any better than your's, for the same price, then maybe you aren't marketing properly. Buyers are looking online for homes. The photos have to be well done and attractive to get them to set up showings. Your unit should be staged - not cluttered or over furnished, neutral decor, etc. Make sure your listing is syndicating out to sites like Trulia & Zillow, enhanced on Realtor.com, submitted to classified sites like craigslist.org and on MLS. Create a floorplan with a program like SmartDraw.

Good luck!
0 votes Thank Flag Link Thu Mar 5, 2009
Hi, are you selling by owner, i.e. on your own?
Or is your property listed with a Real Estate Agent>?

First off it is a difficult market everywhere and in some areas worse than in others. What you need to do if you have not yet done so you must connect with an area Real Estate Agent, so that you can get help with two important items of information
a) a very detailed market evaluation of your current property, i.e. compare it to recently sold properties in you immediate area

b) and you may also ask the Agent for a general market overview, which should show you who you are competing with, because it may just be that competition that keeps buyers away from yours, either those other places are bigger, better improved in a different area, not sure as I do not know Reedsburg WI.....

Would you want me to refer you to a local Realtor or are you working with one.
Let me know if I can help in that way! Edith
0 votes Thank Flag Link Thu Mar 5, 2009
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