Question removed

Asked by Chrissy W, north coventry, pa Tue Jun 24, 2008

This question was removed by its author.

Answers

10
Jim Graham, Agent, Sumter, SC
Tue Jun 24, 2008
BEST ANSWER
Chrissy,
I feel your pain! In our market, the average DOM is up to 156 days or so, but solid listings are moving. In this market homes are moving slower than usual and buyers are being very cautious. Some are trying to wait you out until you drop the price enough that it becomes a steal. I would have your agent pull the most recent comps for your area to see what has been happening. Make sure you are priced competitively with out being over priced.
My next question is this, what exposure is your home getting? Where is it being advertised, and more importantly where is it not being advertised. With the internet being the place more buyers turn to first, will I be able to find your home easily? Have your agent show you where they are advertising your home. If it is only an ad in the paper and a sign in the yard, it may be time to find another firm. See if they have a significant web pressence. Do web searches for your community to see how quickly you can find your own home. If it is hard to find then you will know the answer as to their web pressence.
I hope this has been helpful? Good luck!

Jim Graham
Prudential John M. Brabham
Sumter, SC, 29150
803-775-1201
803-983-3486
jimgraham@wesellsumter.com
http://www.sumterrealestateforsale.com
.
2 votes
Keith Sorem, Agent, Glendale, CA
Tue Jun 24, 2008
Chrissy
I hate to be the bearer of bad news. but I think you need to know the truth.
How many homes have sold in Pottstown in the last three months?
According to Trulia since Steptember over 330.
So, why are all these other homes selling and not yours? Simple.
Buyers and their Realtors think these other homes offered more value than yours.

The rule of thumb is 10-12 showings in two weeks or lower the price. No offers, lower the price.
The sales price of a home is a function of supply and demand. Any home will sell at the right price.According to Trulia since December values have dropped substantially. Sounds like you are "chasing the market" which is a painful experience.

good luck.
3 votes
Faith LaRosse, Agent, Wyomissing, PA
Tue Jun 24, 2008
Chrissy...I would have to assume that your agent has presented showing feedback to you and you've addressed any of those issues. This can be a tough market...unfortunately, I have to agree with the statement that another price reduction might be an option, if that is possible for you. It is hard to consider what the market value of your home was when you originally listed your home and the cold hard fact that it could very well now be many thousands of dollars different today. Comps in your area should give you an idea of what todays market will bear.
Web Reference:  http://www.FaithLaRosse.com
3 votes
Bill Eckler, Agent, Venice, FL
Tue Jun 24, 2008
Chrissy,
It sounds like you are doing the right things...but the number one reason why a home does ot sell is its price. Even the least desirable homes will sell if they are priced right.

An important piece here is to look at the homes that have recently sold, making a comparison to yours, and adjusting your price accordingly. If there are no recent comps for homes sold in your area, you are on your own, but still consider lowering the price.

You are not alone in this situation.
Good luck,
The "Eckler Team"
3 votes
____________…, Home Buyer, Texas
Tue Jun 24, 2008
Have you seen our other topic? Since you are in the Trend area, ask your agent to pull the ever-pervasive WITHDRAW RELIST! Unethical---certainly. The consensus from most of the agents here on Trulia was that it is a time waster and should not be allowed, but given the proclivity of the agent's in the TrendMLS area and the non-enforcement by Trend of this practice, I am sure your agent may not find it objectionable.
2 votes
Michael D De…, , 18969
Tue Jun 24, 2008
Chrissy,
This is a difficult situation. Lowering the price may help, but you say you already lowered it tremendously. Is renting it out an option? Until prices rise again? Is your agent doing everything they can for exposure? I wish you the best of luck!
Michael

Michael D Delp
Mortgage Pro
4802 Old Bethlehem Pike,
Telford Pa. 18969
Ph- 215-453-1025
Fax- 215-453-1012
Cell- 610-762-0318
michaelddelp@aol.com
michaelddelp@verizon.net
http://www.mortgagepro.instantlender.com
2 votes
Tameka Golds…, Agent, West Chester, PA
Wed Jun 25, 2008
Chrissy,

As you know by now, there are 3 basic factors that sell a home: Location, Condition & Price. Location - this is a tough one, because you can't control this ... but if you house is located in a less than desireable area or on a main/busy road ... ouch! You need to compensate for this in your price. Now let's speak to the condition of the home -- although the house may be staged and immaculate, but if certain amenities that buyers are looking for are missing ... this too will affect your price. Examples: 1 full bath instead of 2, 1 or no garage instead of 2, no A/C, etc. Again, you'll need to compensate for this in your price. So all arrows are pointing to price ... as so many agents have already referred to. Now i know this can be difficult to accept, especially if you've done a lot of work to the property ... but price does ultimately sell a home. But here's a strategy you can discuss with your agent (which has worked well for me for properties a little harder to sell) ... in lieu of another price drop, offer some sort of incentive for the BUYER! For instance, offer to help with seller's assist (used toward closing costs) or offer special financing 2/1 Mortgage Buydown. These strategies will ultimately bring you a bigger pool of buyers who may be a little short on cash (who also tend to be less "picky") ... it creates a win-win for both parties ... it gets you closer to SOLD!!!

You WILL Sell, it might just take some creativity! Best of luck!
1 vote
____________…, Home Buyer, Texas
Tue Jun 24, 2008
Make sure that your agent ensures your home hits the hotsheet at least every week. The hot sheet is for "new listings" but that's okay.
1 vote
The Hagley G…, Agent, Pleasanton, CA
Sat Jul 5, 2008
It's either price, product or pitch....all of which your agent should be advising you on.....what does your agent say?
Web Reference:  http://www.cindihagley.com
0 votes
Donald Bradb…, , 18951
Sat Jul 5, 2008
The average price of a home in upper Bucks County for example is about $330K, and takes from 6 to 8 months to sell according to the facts from the multiple listing service. Your Realtor should be checking the competition, and every time there is activity in the area, you should be aware of it. This will help you in pricing your home correctly. Make sure you are represented on all the major real estate web sites everywhere. Craigslist, Trulia, Active Rain, Zillow, Realtor.com, Homes.com, ect. If your listing expires after 6 months, then you can relist it with the same Realtor, or perhaps a realtor that is able to give you a virtual tour, and video on U Tube as well. It is all about the internet these days, not print advertising. If you have expired, and need to work with an experienced Realtor that can get results with on line advertising with no additional cost to you the seller, please feel free to call me Don Bradbury 215-536-6777 x 329 http://www.bradburyteam.com
Web Reference:  http://www.bradburyteam.com
0 votes
Search Advice
Search
Ask our community a question
Home Selling in Pottstown Zip Codes

Email me when…

Learn more