What is the condition of the Cedar Rapids Housing Market right now. Good, Slow, Bad?

Asked by Jason, Cedar Rapids, IA Sun Jul 25, 2010

I've relocated to Virginia and not been in Cedar Rapids since January. I've got my house listed but am not getting many showings. I've reduced my price per my realtors suggestion but I don't feel like she's doing much to sell my house. She just keeps telling me it's slow and that's all she can do about it. Are others seeing the same conditions or is my realtor just taking advantage of me since I'm out of state.

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Watcher, Home Owner, Cedar Rapids, IA
Sat Jun 11, 2011
If you want to move to a city where the police don't show up until after you are shot, stabbed, or dead then Cedar Rapids is your kind of place. You will want to go to the South East side where the drug dealers hang out. Call Preferred Property Management. They seem to manage most of the slums and crack houses. But housing prices are super low. You can get 11 rooms for $70,.000 and under if you don't mind living near welfare mommies and their pimp daddies.
1 vote
Michelle Ben…, Agent, Cedar Rapids, IA
Mon Jul 26, 2010
Hi Jason - well, your question has a lot of variables!! Certain price ranges/neighborhoods are certainly slower than others. The first-time homebuyer tax credit has sort of usurped some of our normal buyers from May, June, and possibly even July - and encouraged them to buy their home before April 30th to be able to take advantage of that credit.

Not knowing much about your home, your location, price range, etc. it is tough to say if that particular segment of the market is one of our slower ones right now. Selling a home is not an easy process, for you or for your agent. She only gets paid when she sells your home, in the mean time, she spends money and time advertising, doing open houses, fielding calls, checking signs, etc. - so her goal of course is to sell it.

Have your agent sent you some information on what HAS sold in your price range and area? There are reasons people pick one home over another. Does yours have a couple of objections that you might be able to overcome with a little investment? (i.e. added landscaping to increase curb appeal, a little staging, painting, carpet cleaning, professional cleaning, everyone who came through hates the pink toilet, etc.?)

If she hasn't done that - maybe go ahead and ask her to send you some comparable solds, check those out online now that you are out of state. What do they have that yours doesn't??? Are they offering something you aren't (as the previous answer mentioned)? Are all of the sold properties that are similar selling at a lower price? Sometimes even if the value is there and we are confident in the price - buyers are getting deals elsewhere and paying less than homes are worth. And remember - a comparable property is NOT one that is active (because they haven't proven they can get that price) and IS one that has the same general square footage, same general location, same general age, same style of home (a ranch is not comparable to a two-story or a split-foyer in marketability), and same condition.

Interest rates are fabulous right now but there are a lot of buyers out there with a "wait and see" attitude right now. Perhaps you and your agent can come up with a creative way to make it all fit together?
1 vote
Dp2, , Virginia
Sun Jul 25, 2010
I suspect you're pricing your property too high. Have you considered offering to sell with seller financing?
0 votes
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