who else is having problems selling thier home and why do you think its so?

Answer 1

the real estate market is fixing itself. our economy as a whole is having a difficult time, the USD has dropped in value and we have a lower employment rate than in the past. The feds are managing to keep the rates low though and there are still buyers out there. The problem is to many people got into homes they couldn't afford with little or no money down. The lenders who gave these loans should be held accountable for majorly messing with our economy by giving loans to people who didn't qualify. The first response I read to your question is the attitude of all those people out there in bad loans with their homes being foreclosed on. They don't care because they don't have any equity in the home, But for all sellers out there, it will straighten itself out. Buyers are out there and they are buyer's with 20% or more down payments. Right now it really is all about price. Buyers are afraid property will continue to fall in price, what they fail to realize is that by not buying they are causing hte market to fall! Bottom feeders are also out there looking to steal properties at 60% below market value. Hold tight if you can and make sure your home is show ready at all times. Be willing to negotiate, understand your home's location and the niche market there. Some neighborhoods are still appreciating. I have properties sitting on the market 6 months and I have properties that have sold in under 4 weeks. It all comes down to supply and demand.

The economists say we will begin straightening by 2009 and will have appreciated by 2011. So hang on. And buyer's help support the American economy and buy!

Answer 2

I 100% agree with iliketod..!! There are some other factors causing the problem also!. BUILDERS-- with a capital B l!! They are being allowed to ravage the land and now they can't sell their big white elephants for the profits they figured they would get cause materials etc have all gone up in price. So what are they doing? They are lowering their prices. This forces nearby neighborhoods to do the same. The resales may be better built but Buyers aren't savvy enough to see it! Buyers visit beautiful model homes and don't realize most stuff in the home is an upgrade! This slows the buying down. The buyers keep looking at these new homes. It takes many of them a year to figure out which is the better deal! When you by a fairly new -1 to 12 year old home you're getting a lot of stuff that will cost you to add on to a new home. Upgraded plumbing, lighting fixtures, walkways, custom blinds in some cases and landscaping is usually costly in a new home. New homes usually have builder grade materials in them! If you want an upgrade you pay for it. Granite and tray ceilings do not cost as much as you think. Builders get them cheaper.
New homes are not the greatest of quality r. They may not be as structurally sound as a resale. This is, therefore, bringing property values down. Now people who could never afford these big homes before are buying them. The neighborhood starts out looking fairly nice and then it takes a downward trend. The buyers who will purchase the new homes will be able to afford the big house but will they be able to keep up the maintenance? Probably not. Now you have beautiful neighborhoods becoming slums and bringing values down even more in nearby neighborhoods. If this keeps up resale sellers are going to lose their shirts. It has to stop at the local level. Local governments approved these developers to build. They need to put moratoriums on building for awhile. Resale sellers are local citizens who have paid taxes in an area for a while. Builders usually aren't from the area.
Another thing to consider is that taxes will definitely be almost double on a new home! More homes means more services. Resale homes' taxes are based on the original price paid.
The whole market is crazy. It really doesn't belong to either the Seller or the Buyer. There are very few people out there who can sell their homes in order to buy your home! A vicious cycle indeed.

Answer 3

The market is doing good in some areas. The media ask as if it is everywhere, but not here in NC. Where is your home at? How is it being marketed. Do you have it listed? Is it over priced. If a home is priced right, it will sell. Not that many buyers out there due to what type of loans available. But they are there is the is priced right and right location.

Answer 4

Most people are having problems with selling their homes right now b/c the real estate market is doing really bad. The economy is terrible, lots of people are loosing jobs, getting their homes forclosed on and it is very hard to find a buyer. Your best bet would probably be to wait it out and see what happens if you can. Otherwise, lowering the asking price would be another option. I personally would just wait and see what happens.

Answer 5

Well, economy, slow real estate market, buyers are waiting for the prices to come down more...
All this might be true, but actually, in any market there are only two reasons if a house is not selling:
1) your property is overpriced for TODAY'S market (you still think it's 2005 market.)
2) your Realtor is not marketing it right (just listed it and doing useless Open Houses.)
Wait, there's one more reason, if you are selling yourself, without a Realtor, this is your problem right there.

Answer 6

The housing market is being corrected -- there has been a crazy bubble happening in major metropolitan areas in the last 2-3 years, and it is about time it stopped. Everyone in our neighborhood, the average time on the market is 6-8 mos, and it had been 1.5-2 mos.

Answer 7

I had the same problem. Whatever you do, don't use BUY OWNER. Big waist of money!

Answer 8

If you must leave, just foreclose, you can live in it free for up to a year.