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Our home has been listed for going on 2 months. We got an offer after 2 wks on the market, however the buyers financing fell thru and thus did our contract. Since then we've only had a few showings - maybe 3- in the past 6 wks. No other offers. We've only had one person who truely disliked the house and was nothing at all they were looking for, everyone else said nice house, right price - just not exactly what they were looking for. It's listed on MLS, Craigslist, etc. There are homes selling in our area, priced around $105 sq/ft, we're currently listed at $95 sq/ft. Nothing wrong with the house - just wanted to price to sell. We're wondering what the deal is...all the houses in our area are all about the same 3/2, 1200-1600 sf (we're at 1500), all have at least 1/2 acre (we have 1 acre), etc. I'm wondering what to do. We don't want to lower the price, because we're already at the low end. Our agent will only give generic responses "markets slow," "hoping for a sale," "getting inqueries but no lookers." And, I know 2 months is nothing right now, but we thought we'd be sold by now considering the price. Is the agent the problem? Perhaps needing to be more aggressive?
At any rate, after an offer falls thru...what's the average number of showings before another offer? We're just ready to MOVE at this point. Two kids, a stay at home mom, trying to keep the house spotless, while my husband is away 4-5 nights/week is straining everyone. Any advise is appreciated. We're in the Greater Nashville area if that helps.
I don't know about TN, but our market dies right before the holidays. My clients rarely have showings for the next 8 weeks. Unless you have to move, most people don't want to move over the holidays.
Our home has been listed for going on 2 months. We got an offer after 2 wks on the market, however the buyers financing fell thru and thus did our contract. Since then we've only had a few showings - maybe 3- in the past 6 wks. No other offers. We've only had one person who truely disliked the house and was nothing at all they were looking for, everyone else said nice house, right price - just not exactly what they were looking for. It's listed on MLS, Craigslist, etc. There are homes selling in our area, priced around $105 sq/ft, we're currently listed at $95 sq/ft. Nothing wrong with the house - just wanted to price to sell. We're wondering what the deal is...all the houses in our area are all about the same 3/2, 1200-1600 sf (we're at 1500), all have at least 1/2 acre (we have 1 acre), etc. I'm wondering what to do. We don't want to lower the price, because we're already at the low end. Our agent will only give generic responses "markets slow," "hoping for a sale," "getting inqueries but no lookers." And, I know 2 months is nothing right now, but we thought we'd be sold by now considering the price. Is the agent the problem? Perhaps needing to be more aggressive?
At any rate, after an offer falls thru...what's the average number of showings before another offer? We're just ready to MOVE at this point. Two kids, a stay at home mom, trying to keep the house spotless, while my husband is away 4-5 nights/week is straining everyone. Any advise is appreciated. We're in the Greater Nashville area if that helps.
It is really not a good time to sell your house unless you have to in my opinion.
If your house sqt and priced well comparable Vs some other houses around . I then would look for how to stage things around to make it feel more comfortable/airy. Could use a couple of hundreds in painting would makes a world of difference.
3 shows last 6 weeks has to do with this time of year beside we are in a bad economy.
Yes, they're selling for around $100-105 sq/ft., some lower, some higher. Several have went under contract/closed since we've listed, I'd say around 5-10 .. some of those could have been under contract before our listing though. We knew it would be hard to sell this time of year, but it's just how it worked out-it was out of our control. Dh got transferred and so he's in another state all week, leaving me and the kids here - we have no family here so it's me, the kids and our friends. It's incredibly hard (especially on the kids), and we thought pricing it below the comps would result in a faster sale...guess we were wrong. We're just ready to sell and be a family again.
There is no average number of showings until you get another offer. A motivated buyer is not affected by the holidays, snow,(Im in NY) or anything else. Have your agent switch the pictures around, change the description, and do check, what has sold within the past 6 months. If no sales at all that's a problem. Have your agent do both a public and broker open house. Depending on how badly you want to move, and if the proceeds allow your next move, then you may seriously may have to consider a price break.
Here's what I want to know - how many homes (comparable to yours) have gone under contract since your house came back on the market after your deal fell?
If things are selling, there's a problem with your price, condition or location. (Though price fixes all.)
If things aren't selling, there's a problem with your market. And unless you're willing to lower your price significantly, there's pretty much nothing you can do.
As an agent, I can bring customers to my listings. If those customers don't exist, my hands are tied.
If you have read many of threads here you know that I am a harsh critic of "square foot pricing". If your house is BIGGER than the others it may be that you end up just being too high for people to even consider when they do query between specific price ranges which IS THE MOST COMMON method for buyers to employ.
If you are at $142,500 and most buyers (just a guess...) are topping out at $140K then they NEVER even see your listing!
If your home's photos do not look as good as those of the other homes online that COULD be far more important than pricing -- places that are photographed well tend to have far lower "click through rates" regardless of how inexpensive they are.
I would not worry about your absolute time on the market YET -- as right now it is MUCH MORE IMPORTANT that your time on market RELATIVE to the other homes that compare to your home is LESS. Ask your agent if they have that data, and if there are homes that are FRESHER than your home you better not have a HIGHER listing price unless your home is a STUNNER... Come Valentines day if you have not gone under contract it would be fair to say that there is SOMETHING wrong with your listing unless you are still the FRESHEST listing (shortest time on market...).
OF course you'd be nuts to just sit around doing NOTHING with a looming relocation SO you need to work with your agent to generate some traffic. VERY VERY VERY hard this time of year. Price cut might not even work, as pretty all areas (except for those with lots of 'snow birds'...) tend to see major fall off in activity.
Redoing photos is smart, as is anything you can do to increase the exposure of the your listing to those who might be shopping. Your agent should be able to suggest the smartest efforts to target other agents, potential intra-neighborhood movers, down sizers, move up buyers, or other groups.
I don't know about TN, but our market dies right before the holidays. My clients rarely have showings for the next 8 weeks. Unless you have to move, most people don't want to move over the holidays.
We are pretty much the same with not much activity until about Jan 4. Time for us all to go on vacation for awhile. Ski season calls.
Here's what I want to know - how many homes (comparable to yours) have gone under contract since your house came back on the market after your deal fell?
If things are selling, there's a problem with your price, condition or location. (Though price fixes all.)
If things aren't selling, there's a problem with your market. And unless you're willing to lower your price significantly, there's pretty much nothing you can do.
As an agent, I can bring customers to my listings. If those customers don't exist, my hands are tied.
I checked, and of course the public site isn't 100% up to date, but there are about 4 homes like ours that have sold since our contract fell thru. Not a huge number. The market is steady, but not fast by any means. There was one house that was 90% comparable to ours, it had about 100 sf more that sold within the past month, it had a converted garage where ours doesn't-hence the more square footage. We really don't want to drop the price a lot more because we'd be extremely low end without a lot of room to negotiate and still have some money left to relo and find another house. We don't want to give it away but we don't really want to keep living in separate houses either.
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