[jaxrivers]

EASILY 200 HOMES SOLD IN YOUR COUNTY THIS SUMMER ESPECIALLY SEPT. PEOPLE DON'T STOP LIVING JUST BECAUSE IT'S SUMMER.

The average number of days listed seems to be 27-60 just giving a quick look. You can google it

You said you thought your price was an "excellent value" and dropped the price. This indicates to me that you were maybe overpriced and probably didn't drop it enough.

Small price drops don't land you in a new buying pool of people. NO INTEREST is a bad sign.

What are the comps? ARE THERE NEWER COMPS FOR LESS IN THAT AREA AND ARE OTHER COMPS SELLING?

What is the price compared to what YOU PAID? HAVE NEW BUILD PRICES DROPPED NOW?

IMO it's always price. Even if it's maddening. AND the price of insurance now scares people.

My two Florida condos:

1.) At the peak in the hot market Dec 2021 my 55+ Indian River County 1200 SF 2/2 condo on the Intracoastal sold for $220,000 in 48 hours with a long distance Facetime showing full price of course cash and no contingencies or inspections. HOA fee $400/mo all ammenities including two clubhouses two pools and a small boat ramp out to the Intracoastal. Guarded/Gated. And it had some old windows that were annoying and stuck! Other than that it was impeccable and newly updated.

Then I bought another smaller one 650 SF 1/1 down the road in a different less great 55+ HOA but still good famous for extensive ammenities and resort type lifestyle with four clubhouses and pools. For $115,000. VERY popular with 100 buildings of 18 units each. LOTS of snowbirds and Canadians. Also totally renovated by my seller 6 months before. I didn't even need an appraisal because the place was gutted and I had the complete documentation and permit inspections etc. I bought THAT unit in ONE day because I knew it was going to fly.

2.) A year later (this March PERFECT TIMING TO SELL) I put it up for sale for $140,000 high end of comps which were only a few...but totally worth it because it was the nicest one, and a rare layout. And next door to one of the 4 clubhouses with the gym, pool, tennis, etc. WITH a beautiful landscaped courtyard and golf course view out the front windows. Really nice location maybe the best. Didn't need a THING and TURNKEY with all my expensive stuff included. I even went and bought all new kitchen stuff to make it turn key.

UNTIL THAT NEXT WEEK when the geniuses in my HOA voted to not fully fund reserves AND raise the monthly fees by alot. So that my little 650 Sq Ft condo was $550 per month. But I knew that about the community when I bought it. I just had to have somewhere to live. I just didn't anticipate the vote. The outcome which, logically, could have also meant a future large assessment.

OVERNIGHT FIFTY OTHER PEOPLE LISTED THEIR UNITS BECAUSE OF IT AND I SUDDENLY HAD A LOT OF COMPETITION AND ALL CHEAPER BECAUSE NOT AS NICE.

SO no showings or real interest 2 weeks later, I dropped the price to $120,000. It sold in one day. it sold to a couple moving here from NC to be with family. They were living in a hotel and wanted a quick close, cash no contingencies. People were still moving here.

If you're serious enough about selling, I'd drop the price again and also check your MLS wording and PHOTOS.

Some of these listings are just really horrible. But IMO it's just going to have to be price.

Your agent should have answers to ALL the questions I asked you and should be offering the facts and solutions.

[jaxrivers]

(CONTD)

I don't know your county. And I see this is a CDP Beverly Hills? and maybe nothing like yours but just for fun...

Pine Ridge Estates is supposed to be in demand and equestrian type of place?

362 homes for sale in Pine Ridge, Citrus County, FL at a median listing home price of $64800.

I randomly clicked a really nice 2023 build custom home in Pine Ridge Estates for $475K $236 per sqft which I chose to look at because it has an acre. It's been on the market for 85 days. But even the really nice $725K properties seem to be sitting over 2 months.

No pool. The bathrooms are really luxurious and large. Seems to have a really small back yard so barely room for a pool, facing scrub trees, some dirt road thing, and really worthless covered patio strip not even a real patio, just sayin. It seems to be a weird mix of old properties with new builds on that street.

$475? NO WAY. AND it's part carpet. I guess it's not a great lot. I'm guessing the builder still has the "HOA". $8.00 haha

People like me are picky when there's inventory. That ugly yard and patio no pool is my deal breaker YMMV.

I'd go look at my own comps if I were you and see everyone else's price drops. ....or just see how the winter goes if you're willing to chance a further drop.

Like always in real estate.

[dave w]

Originally Posted by jaxrivers

EASILY 200 HOMES SOLD IN YOUR COUNTY THIS SUMMER ESPECIALLY SEPT. PEOPLE DON'T STOP LIVING JUST BECAUSE IT'S SUMMER.

The average number of days listed seems to be 27-60 just giving a quick look. You can google it

You said you thought your price was an "excellent value" and dropped the price. This indicates to me that you were maybe overpriced and probably didn't drop it enough.

Small price drops don't land you in a new buying pool of people. NO INTEREST is a bad sign.

What are the comps? ARE THERE NEWER COMPS FOR LESS IN THAT AREA AND ARE OTHER COMPS SELLING?

What is the price compared to what YOU PAID? HAVE NEW BUILD PRICES DROPPED NOW?

IMO it's always price. Even if it's maddening. AND the price of insurance now scares people.

My two Florida condos:

1.) At the peak in the hot market Dec 2021 my 55+ Indian River County 1200 SF 2/2 condo on the Intracoastal sold for $220,000 in 48 hours with a long distance Facetime showing full price of course cash and no contingencies or inspections. HOA fee $400/mo all ammenities including two clubhouses two pools and a small boat ramp out to the Intracoastal. Guarded/Gated. And it had some old windows that were annoying and stuck! Other than that it was impeccable and newly updated.

Then I bought another smaller one 650 SF 1/1 down the road in a different less great 55+ HOA but still good famous for extensive ammenities and resort type lifestyle with four clubhouses and pools. For $115,000. VERY popular with 100 buildings of 18 units each. LOTS of snowbirds and Canadians. Also totally renovated by my seller 6 months before. I didn't even need an appraisal because the place was gutted and I had the complete documentation and permit inspections etc. I bought THAT unit in ONE day because I knew it was going to fly.

2.) A year later (this March PERFECT TIMING TO SELL) I put it up for sale for $140,000 high end of comps which were only a few...but totally worth it because it was the nicest one, and a rare layout. And next door to one of the 4 clubhouses with the gym, pool, tennis, etc. WITH a beautiful landscaped courtyard and golf course view out the front windows. Really nice location maybe the best. Didn't need a THING and TURNKEY with all my expensive stuff included. I even went and bought all new kitchen stuff to make it turn key.

UNTIL THAT NEXT WEEK when the geniuses in my HOA voted to not fully fund reserves AND raise the monthly fees by alot. So that my little 650 Sq Ft condo was $550 per month. But I knew that about the community when I bought it. I just had to have somewhere to live. I just didn't anticipate the vote. The outcome which, logically, could have also meant a future large assessment.

OVERNIGHT FIFTY OTHER PEOPLE LISTED THEIR UNITS BECAUSE OF IT AND I SUDDENLY HAD A LOT OF COMPETITION AND ALL CHEAPER BECAUSE NOT AS NICE.

SO no showings or real interest 2 weeks later, I dropped the price to $120,000. It sold in one day. it sold to a couple moving here from NC to be with family. They were living in a hotel and wanted a quick close, cash no contingencies. People were still moving here.

If you're serious enough about selling, I'd drop the price again and also check your MLS wording and PHOTOS.

Some of these listings are just really horrible. But IMO it's just going to have to be price.

Your agent should have answers to ALL the questions I asked you and should be offering the facts and solutions.

So basically you sold the little house at a loss to get rid of it. I agree with one thing you infered, most real estate agents are incompentent.

[dijkstra]

If it is not selling, it is overpriced for the current market. You could change agents 10 times and it won't matter. These days people have a lot of resources online to do their own research without ever talking to a real estate agent. They know their budget and by the time they contact an agent to view properties, they already know which ones they want to go view in person. If your house is having very few showings, it is overpriced for the market. Current interest rates have a lot to do with this because people overpaid for houses the past couple of years when rates were cheap. You may have overpaid when you bought the house and are stuck with it for a while until rates come back down. It also does not help that you bought in a "55+ community" which greatly reduces your potential buyer pool.

[wavylines]

To jaxrivers: Thank you for taking the time and effort for all the info you put in your reply. I agree that in the end it is price. We are in a home in a gated community in Citrus County where the homes are over $600K. The area outside is rural and not as pricey. My home is not as grand as my neighbors. From what my latest agent told me these homes stay on the market longer than a $200K plus home does. Still, I am anxious to sell and will continue dropping the price until we get a bite. I have no sentiment about the home or the price. To Dave W: Yes, I agree that most of the real estate agents I interviewed seemed lazy and lacking in knowledge. They also seem to lack energy and enthusiasm.

Thank you again for all your help.

[Miss Hepburn]

Originally Posted by wavylines

Yes, I agree that most of the real estate agents I interviewed seemed lazy and lacking in knowledge. They also seem to lack energy and enthusiasm.
.

Fascinating...I would think they love $$. Ha! I wish you the best of luck.
Say a prayer in your house - to sell...then smile, be happy...cuz it will.

Funny little tip - comes from selling Art ---if you have 50 paintngs the one that sells first has a
little red in it.
Place red towels or a red vase somewhere, paint your mailbox red ---whatever...works every time!!

Glue fake bread, wine glasses and a bottle of wine on a tray, place it on the counter...these props work on the subconscious mind for them to picture being happy there...maybe with friends over.

Get a quality plug in that smells like vanilla or pumpkin bread...I tell ya it is uncanny.
Lemme know...

[wizrap]

Anecdotally, I’ve been hearing that the real estate market has been slowing down here in Alachua County. I just did a quick google search and as per stats from Rocket Mortgage, that seems to be true.

Although the average price of a house has gone up about 8%, year over year, about 55% of homes were sold below listing price. The average days on market also increased, nearly doubling from 20 days to 37 days.

It’s still considered a seller’s market here, because demand exceeds supply. Inventory is about 9% less than last year.

[jaxrivers]

Originally Posted by dave w

So basically you sold the little house at a loss to get rid of it. I agree with one thing you infered, most real estate agents are incompentent.

EXACTLY.

The big loss was the Turnkey/furniture. I don't want to tell you. Just the 65 inch TV was 3500. New that year. Adjustable bed. Art.

People don't understand it matters NOT what you "put into it".

I assumed Turnkey would be a big selling feature because in THIS HOA it usually IS. Even old crap from dead people hahaha.

AND THEY DIDN'T WANT ANY OF IT. And I'm a minimalist and HATE CLUTTER.

It was really my HOA financial bomb that killed me with that last minute competition. I'd say half the people buying in an HOA wouldn't even consider the financials even though it's mandatory they get them. But 50 PROPERTIES??? An obvious red flag.

And what sunk me deeper was my decision to move 3 hours away from my little beach tourist town to Jacksonville to a small apartment that wasn't conducive to that stuff and would have cost me A LOT to move. Another few thousand.

SO....I write the loss off and consider it what I would have paid in rent.

So I moved but it "only" cost me another 5K (a chair/ottoman/tv/adjustable bed)

But I moved to a all inclusive CHEAP CHEAP senior rental including a MEAL PER DAY hahaha.

[jaxrivers]

Originally Posted by wavylines

To jaxrivers: Thank you for taking the time and effort for all the info you put in your reply. I agree that in the end it is price. We are in a home in a gated community in Citrus County where the homes are over $600K. The area outside is rural and not as pricey. My home is not as grand as my neighbors. From what my latest agent told me these homes stay on the market longer than a $200K plus home does. Still, I am anxious to sell and will continue dropping the price until we get a bite. I have no sentiment about the home or the price. To Dave W: Yes, I agree that most of the real estate agents I interviewed seemed lazy and lacking in knowledge. They also seem to lack energy and enthusiasm.

Thank you again for all your help.

You're welcome! I feel ya and I like thinking about real estate. I went through that nailbiting!

I saw those 600+ homes very nice.

I think your agent is probably ok since she agrees with me as I wrote " But even the really nice $725K properties seem to be sitting over 2 months."


HAHAHA only took 5 minutes to see it but I'll give her a break since there's not much more she could say.

The energy and enthusiasm is what I find most annoying - low effort.

My first agent marketed my condo as literally "cheap HOA fees". After she bragged about "usually representing all million dollar properties'.

OMG are you out of your mind I don't want price shoppers!!!

I made her use MY MLS write up. A guy from the Jersey shore bought it no surprise cuz I'm from THERE and we think alike!!

Then she showed our pool picture with all old fat women in a circle in bathing caps! I KID YOU NOT.

Indian River County is known as having the highest number of retired CEOs.

I had to escalate to the broker to get the pictures how I wanted them.

My second condo agent was perfect she sold me the house, specializes in that HOA and knows everyone even her mom is well known and has investment properties there.

OH and the people who bought my condo came to the showing with their agent with HER DOG and I caused a BIG SCENE over it but they still bought it hahahaha. I think my personality as being DEMANDING about respecting my property helped!

[jaxrivers]

Originally Posted by Miss Hepburn

Get a quality plug in that smells like vanilla or pumpkin bread...I tell ya it is uncanny.
Lemme know...

I would turn around and walk out.

I even left a dentist office for having lavender scented hand towels in a crock pot.