i have a 4 bedroom house in excellent condition it is on the market for 270,000 with peter alan. Even though everyone who has viewed it loved it and sed they would buy it no one has sold there house what should i do ?
2007-07-30 05:21:52 · 8 answers · asked by kris c 2 in Business & Finance ➔ Renting & Real Estate
Simple answer: it's probably overpriced for current market conditions.
You don't mention what market you are in but it seems, from your question, you are in a tougher market than some.
The reality is that if no one is buying the property (for any reason - they haven't sold theirs, can't afford it, etc.), you may need to come down on the price. You didn't mention how long it's been on the market but again, from your question, I gather it's been on the market for a while. The one thing that helps move a property along quickly is price. I've seen condos around my building sell in 45 days and I've seen some that haven't sold for 245 days. Making a TON of money on real estate is no longer the case (unless you've owned the place for many years).
2007-07-30 05:35:34 · answer #1 · answered by shacker2762 3 · 0⤊ 0⤋
If your agent has done his or her job and the price is at what the market states then getting full price shouldn't be all that hard. If the house was priced based on emotional choices such as upgrades that you as the seller would like but not necessarily what the general population likes than you could get close to full price.
I hope your agent didn't mislead you into thinking that you can get full price if its been on the market awhile. Some agents don't say anything because they know if you don't sell you will automatically lower your price.
If agents are bringing Buyers through at open houses, ask your agent to call the agent the next day to see what the actual comments are. Some people will tell you they would buy it but those are all what is called in the industry looky loos. They and their comments will not help you.
I suggest you walk through your house with a Buyers viewpoint. Look at all the smaller details, You are use to seeing your house and know what to expect but others coming through will have no idea until they experience something that you will never know unless you ask.
2007-07-30 05:35:23 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Hoe long has it been on the market? Have your agent run a report to show the average length of time homes in your area are staying on the market. If your house goes beyond this time frame without an offer, consider lowering the price. The market is soft right now. Full asking price might not be an option.
2007-07-30 05:26:57 · answer #3 · answered by Jay P 7 · 0⤊ 0⤋
If you can not reduce the price or are unwilling then you have no choice but to wait.
The problem is that there are so many houses on the market people can't make a decision. So many just keep looking for the very best deal they can find.
If your house is listed below others in the area then chances are it will sell quickly, if not, you will just have to wait in line until all the real deals get snatched up.
2007-07-30 05:27:57 · answer #4 · answered by Don 5 · 0⤊ 0⤋
you never get full asking price for a house unless several buyers want it and start bidding against each other.
The thing that sells a house , is the buyer has to fall in love with it, it is an emotional purchase. The house tells them instantly, that they belong in that house.
People know when they have seen the house for the first time, whether they will buy it or not, and there is nothing you can do to change that opinion, unless you want to drop the price to make it a real bargain, then someone will buy it, without liking it, just to flip it.
2007-07-30 05:38:26 · answer #5 · answered by bob shark 7 · 0⤊ 0⤋
1. You need to understand houses almost never sell for full asking price
2. Offer a higher cut commission for the side that brings the buyer, you'll be amazed at how soon people will be wanting to see it (due to a little incentive for the agent who gets it sold)
3. I once had a house listed like that, everyone loved it, but nobody bought it, just be patient, it takes time
2007-07-30 05:55:14 · answer #6 · answered by ... 4 · 0⤊ 0⤋
as you are aware the market is flooded with homes just like yours right now due to the high rate of foreclosures across the nation.
a buyer literally has a unlimited inventory to chose from right now...you may want to talk to your real estate agent about making your offer more attractive (maybe some concessions).
good luck :)
2007-07-30 05:29:43 · answer #7 · answered by Blue October 6 · 0⤊ 0⤋
its the market, buyers today's world are looking for short sales, pre-foreclosure etc, so you may have to wait this one out for a another year, now some pockets when location is key say beach front NY city units, have held some what steady
2007-07-30 05:39:44 · answer #8 · answered by goz1111 7 · 0⤊ 0⤋