How can we get out house to sell?

Question

Supposedly the market is really bad right now. We live in a townhouse, and every time we have a showing we clean it up really good. We usually get feedback that it showed really well, but no one ever buys it! It's been on the market for almost six months and I am just getting tired of waiting. Is there anything we can do to increase the chances of it selling?

Answer 1

There are only three things which cause a house to sell more quickly: Location, condition and price. Obviously, you can't change the location, and it is not usually feasible to do any large-scale improvements to the home, unless it is very outdated. The best way to improve interest and your chance of selling faster is to lower the price, or add incentives like a decorating allowance or a portion of closing costs.

Keep in mind though that the price reduction is the method which will give more exposure to your listing; Buyers often search a range of prices. For instance if you are priced at $270,000, and buyers are searching for homes between $240K and $260K, your listing will not even enter their search. By lowering your price, even by a few thousand, you can reach a lot more potential buyers than at a slightly higher price.

As far as a strategy goes, it is usually best to lower a price below an increment of $5000. For instance, if your current price is $267,000, lowering it to $264,900 will make a large difference, as buyers generally search in increments of $5000. If you are priced at $269,000 lowering it to $265,900 may help, but lowing it to $265K or less will help much more.

I hope this helps! Good luck, and please contact me if I can be of any help!

Answer 2

Had you priced it correctly in the beginning, you would have sold by now. What you are doing now is following the market down. This is your agent's job to guide you to that price, but it's difficult. You want the most for your home and don't want to "give it away" (how many times have I heard that?) and agents are afraid if they tell what the price really should be, you will list with someone else who promises you a higher price. But if you're priced too high (which you must be), then you will get no offers. The market is talking to you. Make a big price reduction to get it sold now, otherwise you will make small reductions and follow the market down and lose more money after much time.

Answer 3

It is a buyer's market and there is a ton of inventory for buyer's to consider. If it is getting shown and not getting, either something is wrong or your price is too high.

If the townhouse shows really well, I suspect price is the issue. Talk to your Realtor about a price reduction.

Answer 4

i think drop price . honestly it hurts but you will make it up when you buy. it's a buyers market and what you buy to replace it will be a good deal .. that owner too , will have to drop their price and in the long term .. i think the situation will rebound / recession .. housing will eventually go high again . might be a hard rough patch before that though .

i would be secure in whatever i bought to replace it ... you don't want to lose that / or its equity. taking a discount on TWO investment properties in a row can hurt !

Answer 5

The obvious is to lower the price below what you are now asking. The market is literally flooded with available properties at this time, and buyers are looking, looking, and looking. All you can do is insure that your property is the BEST available for the price asked.

Answer 6

You are asking too much. Take it off the market because your listing is stale at this point. Put it back on later at a price that will move it!! Do your research on recent sales first. http://www.choicefinance.net/

Answer 7

Try putting a fresh coat of paint on the walls, or maybe new appliances in the kitchen, or new hardware on the cabinets. A few little things can go a long way.

Answer 8

drop the price, who can resist a great deal!

Answer 9

“There is no objection that cannot be overcome by price.”
-Some agent in my husband’s office