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Matt, Home Seller in

What should I do with the Sewickley Market?

Asked by Matt, Thu Jul 5, 2007

Hello,

I have a townhome for sale in Sewickley. It has been on the market for a few months now. There is interest in it but no movement. A common response I hear from my agent is that people like it but they first need to sell their unit. Should I hang tight? Any changes on the horizon for this market? What about rental as a way to "buy" time?

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Matt,

I have worked in Sewickley for years. My office is right in the village. I assume that your townhome is in the Manor. If so, there have been 16 sales in 2009, but currently there are 13 active properties and 1 that is contingent. This year we have seen the highest inventory in the manor that has occured for a number of years now. With that, buyers have lots of choices and price/condition become even more important. I too would not advise you to rent, as it is rare that an owner can get a renter who will be willing to allow the property to be shown often. You then face the problem of what condition the tenant will keep the property in during those showings. Remember you do not get a second chance to make a first impression. I would ask how and where your agent is advertising your home. Provided that your condition is good, and your price is on target, then strong marketing/advertising will be the most effective in producing a buyer sooner then later. You need more then a sign and an occasional ad the company may provide. To answer your last question, I do not see huge changes on the horizon. Properties that are priced well, are in good condition and have strong advertising still continue to sell. If you would like more assistance, do not hesitate to call.
0 votes Thank Flag Link Tue Nov 3, 2009
I am very familiar with your market and currently have a townhome listed there. Usually price is at the crux of the issue in a slow "buyer's" market. Most agents can get buyers to come by to see the house but demand from your agent that the buyer's be pre-qualified before showing the home to them. That way you are only showing to "serious" buyer's and experiencing the least amount of inconvenience when showing your home. Remember, you can ask a lower price for your townhome, the big difference is what you will accept when you sign the contract. If you don't like the offer price move on. My goal is always to put my listings in a position to get offers on the property. That is the start of the negotiation process where your agent will earn their commission.
Web Reference: http://www.GlennMoeller.com
0 votes Thank Flag Link Tue Jul 10, 2007
Hang tight... if there are buyers interested you don't want to scare them away with renters... Renters mean you have to have a lease signed. Permissions have to be explicit for showings, etc. Selling your home really does mean waiting for the buyer that must off-load their own property. Be patient, be patient, be patient. Make sure you are following all the rules...

Keep your home show-ready at all times. Never turn away a person that wants to take a look-see. If they don't buy - they could know someone who will. Keep your lawn clear and if you have pets - pick up after them.

Make sure you and your agent are leaving no stone un-turned! Buyers are out there, you just have to find them. Are there renters in your subdivision who would like to be "owners"?

Changes in the market will be slight within the next few months. We are in the peak season and the closer we get to the beginning of school sessions - the pace will get frantic. Hang tight, have faith, and stick to your end of the bargain!
0 votes Thank Flag Link Thu Jul 5, 2007
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