Post # 1
I haven’t posted on this site since before my wedding in November and everyone was always so helpful I thought I would see if anyone can help me in my new situation!
My husband and I already own a home, leave lived there for 10 years but bought it off family a little over two years ago. They gave us a really good deal so witget he amount we have paid for it in these years we don’t owe too much (roughly 150,000). Now that we are married and want to start a family we realized the house is too small for us. The only spare bedroom we have I use for a giant closet! With the help of our realtor we put our house on the market and put an offer on a new house that was accepted with a contingency to sell our house by April 14th. Our house has been on the market almost a month with only 4 showings! A little about our house: small ranch 1184 sq ft 2 bed 1 bath, in any other part of town our house would be worth diddly squat but we are located in a very wealthy part of town and our house oh has water views. There was one comparable actually a lot smaller than our house on less land tabs we priced our house 40k below theirs. They have since taken their house off the markEt. We are now the lowest price house in our area but my realtor wants to drop our price by 20k! Does that sound like a lot or is that normal? Luckily we can do that since we bought the house so low and would still have as good amount for a down payment on new home. Has anyone been through this? We do want to sell this house quick so we don’t loose the other gorgeous house! What do you guys think?
Post # 3
Sorry for the spelling errors- iPhone autocorrect does strange things!
Post # 4
- Wedding: October 2011 - Bed & Breakfast
A house should be priced according to comps that have actually sold. So what has actually sold in the last 6 months, and where does your list price fall in comparison? Your agent should be able to justify the suggested new price using actual data. And if you really are motivated and can afford to, there is nothing inherently wrong with listing under market value just to be done with it quickly. Make sure that your price adjustment moves you into a lower search bracket. Like if you are listed at $221 and you drop $20k to $201, you are still in the same search bracket on many real estate websites, which break things into groups per $25k, so all $200-225k houses are grouped together. You want to get into that lower search bracket of under $200k to be exposed to all of those buyers who are searching at that price point.
And how does your house show? Have you consulted with a stager to get tips on how to show it at its best? Decluttered absolutely every surface and put overesized/excess furniture into storage? Neutral paint throughout? Is your house showing at its very best? What feedback have you received from the showings you’ve had? Done an open house? How good are the online photos of your home? Were they taken before you decluttered? Are they bad lighting or bad angles?
Also, since you are in the north east, your market is significantly affected by the weather. It’s winter, it’s cold, it’s snowy, it gets dark early, neighborhoods look bare, etc. so winter is the least prime selling time of year. Buyers will start peeking back out from under the snow in March, and will be out in force by mid-late April in hopes of getting everything taken care of at the end of the school year/over summer break.