Consumption and Real Estate
Why won’t my house sell (asked before but with more info this time)?
Question : Why won’t my house sell (asked before but with more info this time)?
Okay, I asked this question earlier but evidently didn’t share enough specific information.
My dilemma: my house has been on the market for 13 months. I have lowered the price dramatically during that time but still no offers. It is located about two hours north of Phoenix, Arizona, in a beautiful retirement community called Prescott. The home has been freshly painted on the outside, has absolutely stunning views of two well-known mountains, and has pool, tennis court and trailhead access. My husband’s relocation company has recommended another $ 50K price reduction. Understand that this market is very slow, with approximately 200 other homes somewhat similiar in square footage, lot size, etc. Some are priced higher, some lower. So what can I do to sell this house? We’re now paying temporary rent where we are now (in the Northeastern part of the country) as well as the mortgage on this house.
arizona retirement communities
Best answer:
Answer by jennifer p
Do you have it listed with a real estate company and what are they doing to market it?
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#2 written by Chris C 1 year ago
The answer your missing is “retirement community”. Does this mean it is a senior only community? If so that is your problem.
Marketing a home in a retirement community is totally different from a normal sale. Your agent or relocation company should be advertising outside of the area to seniors wanting to relocate to Prescott.
If this is so, is your real estate company experienced in senior sales? Another option is to rent the property while it is for sale. There are all kinds of snow birds who like to live in places for a short time.
If it is not a senior community then I would lease the property until the market changed. Unless your husbands company is going to purchase or give you the difference.
Please feel free to contact me with questions.
Good Luck,
Chris C
Real Estate Broker/Lender -
#3 written by satarnag 1 year ago
I’m glad you rewrote this question because there was not info to answer last time.
Do the following:
1. first check to see if the house is listed correctly on the MLS. Make sure it is priced what it should be, has the right location, cross streets, Thomas Guide, section, etc.2. Offer 4% to the buyer’s agent
3. Offer to pay as much closing cost as legally allowed.
This is much better than lowering it 50k, especially if you have homes higher than yours. You will attract greedy real estate agents who will sucker their buyer into your home by showing them higher comps. It will also help people purchase your home because they can use the money you are offering to pay down their loan or get this home with zero down and zero out of pocket.
50k financed over 30 years doesn’t mean much, but to have someone pay 10-20k for your closing cost means a lot more.
Regards
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#4 written by kitchenheatindex 1 year ago
Did you or your husband smoke? Did you have indoor pets?
Smell makes the first impression. Make sure the house smells clean and fresh.
Rather than a price reduction, offer a redecorating allowance for new carpet or window treatments and offer a home warranty for the first year’s repairs.
If the house is empty, rent some furniture or buy some second hand furniture. Make sure the house is staged to show off the best features.
Investigate membership costs to local gyms and offer a bonus of a one year membership to the buyer.
Make sure you have an information sheet in the house about all appliances and their age and possible warranty.
Get your real estate agent to send you info about recent houses that have sold in your area. Determine what is different about the houses that have sold and use that info on your house.
Could be something simple like upgrading the refrigerator or automatic sprinklers in the yard. -
#5 written by godged 1 year ago
I answered your question before, but I see you are back.
If your house is not getting shown, it is overpriced.
If it getting shown and not getting offers, something is wrong.
You do not mention whether the house is listed with a Realtor. “On the market” and “relocation company” are a bit vague.
There may be something about your house that is not attracting buyers, but what that something is the big question. If you are listed with a Realtor, he or she should be contacting the Realtors that have shown the house, looking for feedback from the prospective buyers. What they liked and didn’t like. What price would they consider the house, that sort of thing.
Price is important. It seems like you are already cued into this.
Also, if you are with a Realtor, find out what they are doing to market the property. Are they holding open houses? Take a look at the flyers, where are they sending the flyers? Do they have a visual tour of the property? If so, take a look at that. Some pictures and visual tours suck, plain and simple. I saw one today of a gorgeous house I have shown, and the tour is lousy. It’s dark, doesn’t accentuate the great features of the house and the descriptions couldn’t be more vanilla pudding than this tour. The internet is selling houses, and I hope you have a great tour in place.
I hope this helped more this time.
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#6 written by Kisses 1 year ago
freshly-painted outside doesn’t mean anything if you won’t freshly paint the inside. also, you shouldn’t have reduced the price immediately. in dealing with prices, you should always get a second opinion first. next, you don’t just wait til a buyer calls you, ask help from friends if they could recommend someone who’ll be interested. also, go around your area and look at the other houses. if they all look alike, make your house look different and stand out.
“with approximately 200 other homes somewhat similiar in square footage, lot size, etc.”
-houses can be similar in square footage, but they should look totally different.
reinvent your place. maybe the paint color you chose is not the “in” thing. research on really nice color combinations for your place.
add features to your place, so you can sell it at a higher price. features can mean anything, it can mean a great sink, a nice sculpture that matches your decorations, just anything. if you meet someone who’s into that feature, you would surely win his heart.
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#7 written by Tadow 1 year ago
The bottom line that makes any market move is price…point blank.
take what you have paid in mortgage payments and taxes etc. over the last 13 months. Double that number because you may not believe me for awhile (13 months??? Hopefully not)
The only way your house will sell is if you price it in such a way that anyone in their right mind would be a total ignoramus to pass it up.
Imagine putting a new, fully functional Cadillac on the side of the road and putting a sign that says $ 2,500 OBO! That thing would be gone like greased lightning. Same with your house. You have to take the price down to such a level that you ge swarms of people coming and fighting over it.
Unfortunately, this is the market that we are in right now nationwide. People are fearful about buying. You have to make your house look like the hottest deal within a hundred miles of Phoenix.
This is what will happen. You will most likely get multiple offers and you will get the best possible price for your home. The value of your home is the price someone pays for it. No one pays for it then it might as well be a paper weight.
Good luck….
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#8 written by Zzyzx 1 year ago
Right now it is a buyers market. That is your main problem. Also your main target market I assume is snowbirds.
Here are some things to consider
Have you ever smoked in the house? If so replace ALL carpet, drapes, curtains, wallpaper, etc.
What as a buyer, would want you to make you buy your house?
Maybe it’s time to fire your realtor?
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