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We just put our house on the market in Hermitage. We had two looks in the first week. We have it priced low because we have equity and we don't want it to sit on the market forever. My husband's relocation package states they will pay for us a furnished two bedroom for as long as it takes to sell our house so that is nice. I'm a little worried thought. Even if it has a nice price tag if there is no one looking for a house it doesn't really matter what the price is.
Mistybader - I wish you the best luck! We should have negotiated for a longer corporate apt. My husband's was for three months and we thought it wouldn't be a problem. Here I sit 4mths later...
Our house in Brentwood is getting lots of traffic so there are buyers out there. We're very thankful to have some equity as well so hopefully it will eventually sell. Hopefully yours will sell shortly!
Dena...one Realtor to another...thank you for posting that. It's common sense stuff, but often when living in a house, Sellers tend to become blind to the "little things" (which can make a big difference to a home buyer). It's especially true when a house is vacant. We are in the process of getting one of our own homes staged. Presently, while it's brand new construction, as they walk through the empty house, they tend to notice all the "little things" (i.e., slight scuff/ding on a wall, nail pop, etc.) When it's staged, people tend to notice the lovely decor (and tend to miss those little things). It can be a big expense - costing approx 1% of the list price. That being said, $5,000 in staging is a lot better than dropping the price $20,000-$50,000 and having it sit for a lot longer. Studies have shown that staging can help a home to sell 60-90 days faster and for up to 20% more than if it hadn't been staged (depending on where you live). The company we found will take the 1% payment at closing - AND will drop the price if it still hasn't sold after 6 months. PM me if you want the name of the company.
Another thing to consider for people selling their house is that it's a GREAT time to get a good deal. In order to cash in on that, you may have to take a hit on your house when you sell. BUT...many people's homes here have been on the market for close to a year. If you can find a GREAT deal on a home here, you can make up for the hit you took when you sold. For example, if you price your home at 10% below market value (to get a quick sale) - then turn around and find a home at 15-20% below market value here, you've just made back everything you "lost." If you're planning on holding onto your new house for awhile (and not sell in 2 years), you'll make even more of a profit than if you "helld out" for the good price on your present home. Remember too, people often forget to include "carrying costs" of a house into the profit/loss equation. Let's say you're paying $1000 per month to "carry" that $100,000 house while it's on the market, and it could take 9-12 months to sell - you're losing $9,000-12,000 in carrying costs alone. There's the 10% you could have just taken off the price and saved yourself some time and frustration! Sometimes, just dropping the price and "being done with it" is worth the release of stress.
Another suggestion...if you have someone who is looking a 2nd or 3rd time, find out what they are looking for in that 3rd showing. What is holding them back from writing an offer RIGHT NOW? Your agent should call the other agent immediately upon finding out that they are going to view the home to get the answer to these questions. Is there something you can do? There's a saying out there that "buyers are liars." They may say they want this, that and the other, but when they're presented with a "shiny penny" (the home that has 90% of what they want AND is a GREAT DEAL), buyers tend to change their tune and say "WE CAN WORK WITH THIS!" Are the buyers comparing your house and another? Is that other house cheaper or does it have granite? Match the price (better yet, make them a "one time offer" of the lowest price you're willing to take - or offer them an allowance to pick whatever granite they want). I've been known to have my sellers present a WRITTEN one time offer to the buyer for the "bottom line" they'd be willing to accept if they take it now. Does it scream of desperation? Maybe. But it certainly lets the sellers know whether the buyer is TRULY serious or not. If not, they haven't publicly dropped the price. No one knows but the potential buyers/agent and they aren't in any worse shape that before. Even if the other agent spreads the word - that can only bring more potential serious buyers to the front door.
While it's difficult to do, the people who tend to do best in selling their homes are those that are able to "step back" and look at it without emotion. Try to view it as a HOUSE, not YOUR home.
I dug this thread back up to let you all know we sold the house! The spring weather brought with it lots of activity. I'll remind you that this house is in west TN, so the market is different there. We sold it at $10K below the asking price, but we expected that.
Now we can finally move out of our Goodlettsville rental house and start house hunting. You all gave some great insight and advice. To those of you who are still trying to sell, I know how you feel. It WILL sell.
I don't know the age of your house, but is it up to date regarding finishings(i.e., corian or granite counters as opposed to formica) that are appropriate for your community?
Good luck to you.
Unfortunatley, thanks to all the house flipping and house hunting shows now on television, people pretty much expect such things as brand new stainless appliances as well.
My advise if the house isn't 100% including spotless kitchens and baths, and neutral wall colors, that you cut the price lower than the realtor suggests and entertain offers.
Isn't it worth being out from under it just to get on with life?
I live in TN and have had my home for sale by relator's and myself. Well there building a huge 6 lane Rd across the street and everyone I have showed it to have had a problem with it. What do I do
After loosing my arse selling 2 homes in the last 10 years, I am seriously afraid to buy ANY home now.
The realtors, contractors, builders, and banks are still making their fat profits, while home owners are being taken to the cleaners if they attempt to resell down the road. If I install granite counters, the store and the contractors will still charge me 10k - they have never lowered their prices in this market...the only difference is that as a home seller in this market, I will never recoup 1 dime of that cash.
The only solution I see is to not move or sell at all. I regret ever even making the home improvements, since I will see next to zero return on the 10's of thousands I have spent. Homeowners are still being hung out to dry...
After loosing my arse selling 2 homes in the last 10 years, I am seriously afraid to buy ANY home now.
The realtors, contractors, builders, and banks are still making their fat profits, while home owners are being taken to the cleaners if they attempt to resell down the road. If I install granite counters, the store and the contractors will still charge me 10k - they have never lowered their prices in this market...the only difference is that as a home seller in this market, I will never recoup 1 dime of that cash.
The only solution I see is to not move or sell at all. I regret ever even making the home improvements, since I will see next to zero return on the 10's of thousands I have spent. Homeowners are still being hung out to dry...
Shop around there are lots of hungry contractors that have lowered their prices.
Is Home Depot's price that high to install granite?
I live in TN and have had my home for sale by relator's and myself. Well there building a huge 6 lane Rd across the street and everyone I have showed it to have had a problem with it. What do I do
Start with a new thread. this one is from 2008 and will get overlooked by some.
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