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Home Selling in Midtown : Real Estate Advice

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  • Local Info4
  • Home Buying11
  • Home Selling2
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Activity 2
Thu Jan 13, 2011
Thom Abbott answered:
I pulled up your listing to take a look at it. Probably your biggest challenge is that it's a short sale. I specialize in the Midtown market, and I've not seen many short sales in condos sell. Mainly because, unless the condo is very, very unique, a Buyer can probably buy something already in foreclosure and not have to deal with the long wait that is commonly associated with a short sale. Have your agent get aggressive with your pricing. You need a contract to present to the bank, and make sure they have detailed info about the length of time you've been on the market, showings, as well as what the prices are in the area. You will need that info to present your offer to the bank and show you've done all you can to sell the property.

Thom Abbott
Palmer House Properties
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Mon Dec 31, 2007
Sondra Classey answered:
When a property has not sold in two years then I would suggest taking a hard look at the pricing structure. When you decide to sell your home, setting your asking price is one of the most important decisions you will ever make. Depending on how a buyer is made aware of your home, (Marketing), price is often the first thing he or she sees. Prospective buyers disregard many homes because the home fails to fall into the appropriate price range. It's not even given the chance of a showing.
Your asking price is often your home's "first impression." If you want to realize the most money you can for your home, it's imperative that you make a good first impression. Making a good first impression can mean the difference between receiving serious offers for your home and being subjected to months of people dropping by but never buying. After you get them in the door a whole new set of issues arise.
What makes your property stand out? How does it outshine all the other lofts that are available in your complex? Have you personally viewed the properties available within your complex? Why are they selling but yours is not? Have you considered staging?
In today’s buyers market you and your agent need to work extra hard if you want your property to sell. As for the answer to your question. No! Find the answers to the above questions and you'll find your problem.
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