What to do when selling and everyone loves it, but no offers in Home Repair & Improvement http://www.dslreports.com/forum/r21071466 en Wed, 11 Nov 2009 08:11:09 EDT Wed, 11 Nov 2009 08:11:09 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21087671 n1zuk : before signing on the dotted line for being the owner offering a "Lease To Buy", make sure you're in the financial position to do so.

If you are selling a home, and buying a new one, you will be carrying the expenses of both homes on your new mortgage application. Speak with a mortgage loan agent to run the numbers, or you may end up without a home for yourself to live in.

Some common pifalls:

-- As a landlord, your home owners insurance will go up. WAY up. This will be a monthly expense on your mortgage application.

-- The mortgage payment for the leased home will also be on your new mortgage application (unless the home is completely paid off). The property taxes will definitely be considered towards your debt ratio.

-- Unless you currently have rental property (or reasonable recent experience), you will likely *not* be able to use the rent you receive as income on your new mortgage application. If you can use the rent income, it will be decreased by an amount determined by the lender (5-15%) to cover vacancies, repairs, and other unforeseen costs.

I worked a couple of years in the residential mortgage industry. Talk with a professional about the implications of this, as the rules have gotten much tighter since I left a few years ago.
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New to Forum Life? Click here and learn.]]> http://www.dslreports.com/forum/remark,21087671 Wed, 10 Sep 2008 12:05:22 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21087594 Kringle : Good point. Around here (not the same market by a long shot) I used to see quite a few advertised with that option. Interestingly, that's how (and why) my parents bought their house. :D]]> http://www.dslreports.com/forum/remark,21087594 Wed, 10 Sep 2008 11:48:43 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21087428 Badger3k :
said by Kringle See Profile :

Then that's possibly a good point to add into the Realtor's description on their site.

Its not in the description because we didn't want to start off with a lease to buy. Its our last resort if we just can't find a buyer or find a house we like and move forward with a purchase.]]> http://www.dslreports.com/forum/remark,21087428 Wed, 10 Sep 2008 11:17:49 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21087364 n1zuk : Everyone is polite. Of course they are going to say "Oh, everything is *SO* nice..." to the homeowner's face. They will always find something good to say...

... until they get out of earshot, and talk with their buyer broker, or each other. That's when the truth arrives into the equation.

They guy who is going to buy it is going to point out the house's flaws. "The furnace is a bit old. My wife wanted cherry kitchen cabinets. We'd need to pull up all of the bedroom carpets..." They will be softening you up to come down on the price.

After all, would you walk into a car dealership, and say, "I *LOVE* that car! How much can I pay for it??!!"

I never have seen your house, but you have gotten some good advice in this thread. In today's market, the biggest issue is price. Buyers that can get financing are at a premium, and no one wants to over pay. And they don't want to pay what the house is worth today. They want to pay what the house's price might bottom out at 6 months to a year from now. If they can wait, they will...
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New to Forum Life? Click here and learn.]]> http://www.dslreports.com/forum/remark,21087364 Wed, 10 Sep 2008 11:04:39 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21087293 Kringle : Then that's possibly a good point to add into the Realtor's description on their site.

EDIT: Bloody typos.]]> http://www.dslreports.com/forum/remark,21087293 Wed, 10 Sep 2008 10:54:02 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21087283 Badger3k :
said by Kringle See Profile :

The negative regarding renting out the property is that renters will never take care of it as much as owners and the cost of bringing it back up to scratch (as it is now) would be a large percentage of the possible selling price. Maybe considering a "rent to buy" proposition would be a viable alternative?
Yea, guess I should have mentioned we would look at a lease/rent to buy not a straight rent. I definately don't want to be a long term landlord.]]> http://www.dslreports.com/forum/remark,21087283 Wed, 10 Sep 2008 10:52:17 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21087107 Kringle : I can say with conviction that this house is definitely mid-range in price relative to the "comparables" in the area. With the improvements/upgrades that have been done, it looks like a pretty good deal.

However, if buyers think that the market is going to tank even further and prefer to wait, then that, of course, is their choice.

The negative regarding renting out the property is that renters will never take care of it as much as owners and the cost of bringing it back up to scratch (as it is now) would be a large percentage of the possible selling price. Maybe considering a "rent to buy" proposition would be a viable alternative?]]> http://www.dslreports.com/forum/remark,21087107 Wed, 10 Sep 2008 10:15:25 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21087079 Badger3k : I don't want anyone to think I thought we'd sell the house in the first 4 weeks, I knew that wasn't going to happen. What I'm asking is how can you be the best, yet nobody wants to buy. To me, if I have found the best house and I'm serious about buying then I'd put an offer in.

My wife and I have already started looking to see what we can afford and feel comfortable with keeping the house and renting it out. Like I said before, I've made it very clear with our Realtor that we do have a limit to how low we are willing to go and this isn't something we just want to dump and walk away from.
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Team Discovery: Project Hope | ET is out there, can you find him?]]> http://www.dslreports.com/forum/remark,21087079 Wed, 10 Sep 2008 10:09:00 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21087011 dcurrey : I just talked to my Realtor last night, Thinking of putting my house on the market. She did advice me it would probably be best to wait until spring. I am in a larger 4800 sq ft home. Without me saying what I would sell if for she came up with a number I was actually considering this was about. Roughly 10% more than what I purchased it 5 years ago.

She did say biggest problem is competing with forecloses and the competition is bad even this time of year. Also people tend to way overprice the home they are selling.

]]> http://www.dslreports.com/forum/remark,21087011 Wed, 10 Sep 2008 09:53:37 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21086954 CylonRed : The Fairborn are is tough right now - lots of foreclosures and it is not a wealthy are to begin with. Main employer is Wright Patterson AFB and you get a LOT of enlisted folks going in and out. I have a coworker that lives near downtown and on his street there are something like 6-7 houses for sale or in foreclosure.

Beaverceek has a lot of houses that have been on the market for over a year (those that were late is trying to cash out but my IL's and another family sold their houses VERY quickly in the last 6 months. IL's said that did not make any money but they sold the house in one day. No idea what they paid and what they sold it for though.
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Brian

It drops into your stomach like a Abrams's tank.... driven by Rosanne Barr...]]> http://www.dslreports.com/forum/remark,21086954 Wed, 10 Sep 2008 09:41:33 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21086900 icp1 :
said by Icarus See Profile :

Dont want to burst youre balloon,but if you think you can sell for what you bought for,4 years ago,youre in for a big surprise. The market is in the dumpster and if you can get 75% to 85% of what you paid 4 years ago you should consider yourself lucky.65% to 75% is more realistic in todays market for a 4 year investment. 10 year investments are around 75/80% currently. Not a good time to sell.
This is the midwest, housing did not fall 30%+ like in california and florida, as it never went up that much...

Speaking as a seller, I know EXACTLY what you are going through. We were on the market from April - Oct of last year, with over 100 showings - (scheduled showings not open house type visitors!), including 5-10 multiple time visitors. Back on the market this year from March until now. Lots of great feedback, lots of "it's between this house and only 1 other" only to lose out every time.

Lowered the price numerous times, were always at the bottom end of anything else on our street, yet only 1 low ball offer in that time.

Finally we took a contingent offer from a couple relocating from another city for work -- and wouldn't you know it we finally close in 3 weeks.

Long story short -- sometimes it's just the market, and has nothing to do with your house at all...]]> http://www.dslreports.com/forum/remark,21086900 Wed, 10 Sep 2008 09:30:15 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21086611 Nick_L : As Adam and Jamie Say, "well, there's your problem." The price you paid for your house four years ago has ZERO bearing on what it is worth to buyers today. If you are serious about selling, you need to look at all the comps in your area, pick the homes closest to yours in amenities, size, etc. and price yours approximately %5 lower.

Sorry, it's a buyers market today, not a sellers market. If your house is under 500k in value, it is highly unlikely that it will sell for near what you paid for it 4 years ago, especially in Ohio, which has a huge foreclosure rate, and the resulting glut of homes on the market.

Your best bet, imho, it to put off your plans for a few years until the market rebounds somewhat. Alternately, if you can swing it, it IS a great time to buy a home. Upgrade your current living arrangement, and rent out your current home until it's value rebounds.]]> http://www.dslreports.com/forum/remark,21086611 Wed, 10 Sep 2008 08:07:38 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21085875 Icarus :
said by Badger3k See Profile :

I'm by no means going to recouple any where near what I've put in the last 4 years. I'm asking about $6k over what I paid 4 years ago. Between the kitchen update, roof, and basement alone that is shot.

Even if I lowered it 5k, any offers are going to be in the range of what I paid which I've already made it clear I won't sell for. I'm in no rush to sell to take what I paid or less for it. I'll gamble on leasing it before I do that.

Sink, fridge... its all clean as can possibly be. Thought about baking cookies, but didn't want to go over the top.
Dont want to burst youre balloon,but if you think you can sell for what you bought for,4 years ago,youre in for a big surprise. The market is in the dumpster and if you can get 75% to 85% of what you paid 4 years ago you should consider yourself lucky.65% to 75% is more realistic in todays market for a 4 year investment. 10 year investments are around 75/80% currently. Not a good time to sell.
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Team Helix- Folding@Home and Rosetta@Home]]> http://www.dslreports.com/forum/remark,21085875 Wed, 10 Sep 2008 00:24:17 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21083523 Badger3k :
said by bobrk See Profile :

There are 144 homes for sale in Fairborn right now between $0 and $800k:

»www.trulia.com/for_sale/Fairborn···0_price/
15 homes within our price range. Some of bigger, but lack any of the updates. Granted its easier to update than add a bedroom.]]> http://www.dslreports.com/forum/remark,21083523 Tue, 09 Sep 2008 16:47:38 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21083266 CylonRed : Fairborn is my backyard - literally.]]> http://www.dslreports.com/forum/remark,21083266 Tue, 09 Sep 2008 16:01:26 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21083140 bobrk : There are 144 homes for sale in Fairborn right now between $0 and $800k:

»www.trulia.com/for_sale/Fairborn···0_price/
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Iraq Coalition Deaths | bobrk]]> http://www.dslreports.com/forum/remark,21083140 Tue, 09 Sep 2008 15:40:53 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21083117 sailor : Maybe best to post the link to your listing so others here can see as well.]]> http://www.dslreports.com/forum/remark,21083117 Tue, 09 Sep 2008 15:37:27 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21083052 Badger3k :
said by sailor See Profile :

If I knew your area at all I would pay you what you want and then rent it out but I have no clue when it comes to Ohio but someone will recognize your house for the value it offers at the current price..
Area is great. I've actually lived in the neighborhood my whole life so far. Of course that might make me a little bias. :P

Thanks for taking a look.]]> http://www.dslreports.com/forum/remark,21083052 Tue, 09 Sep 2008 15:27:47 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21082806 sailor :
said by Badger3k See Profile :

Even if I lowered it 5k, any offers are going to be in the range of what I paid which I've already made it clear I won't sell for. I'm in no rush to sell to take what I paid or less for it. I'll gamble on leasing it before I do that.

Well after looking at your home and the price from the link you sent me I don't blame you one bit for not taking less than what you paid for it or even what you paid for it before all the upgrades you did. Its a nice little home at a very reasonable price in my opinion..hang in there...someone will see it and want it and then buy it.

If I knew your area at all I would pay you what you want and then rent it out but I have no clue when it comes to Ohio but someone will recognize your house for the value it offers at the current price..

Good luck and thanks for sending me the link....( maybe see if you can post the link here in your thread )]]> http://www.dslreports.com/forum/remark,21082806 Tue, 09 Sep 2008 14:45:52 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21082720 Kringle :
said by Badger3k See Profile :

Thought about baking cookies, but didn't want to go over the top.
That's not going over the top. Smells elicit the strongest memories (positive or negative) because of the way that the human brain works. Even when you are just born, your very first actions are based on smell (finding your mother and your food supply). Don't underestimate the power of smell and use it to your advantage.

2¢]]> http://www.dslreports.com/forum/remark,21082720 Tue, 09 Sep 2008 14:31:08 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21082674 Badger3k : I'm by no means going to recouple any where near what I've put in the last 4 years. I'm asking about $6k over what I paid 4 years ago. Between the kitchen update, roof, and basement alone that is shot.

Even if I lowered it 5k, any offers are going to be in the range of what I paid which I've already made it clear I won't sell for. I'm in no rush to sell to take what I paid or less for it. I'll gamble on leasing it before I do that.

Sink, fridge... its all clean as can possibly be. Thought about baking cookies, but didn't want to go over the top.
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Team Discovery: Project Hope | ET is out there, can you find him?]]> http://www.dslreports.com/forum/remark,21082674 Tue, 09 Sep 2008 14:23:44 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21081881 pro7070 : Priced too high. They prob think what they want to offer wouldn't even be considered.

Have you had an appraiaal done? If so what are the comps selling for?]]> http://www.dslreports.com/forum/remark,21081881 Tue, 09 Sep 2008 12:18:37 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21081099 RogerADSL : I bet it's priced too high! Lower the price and it will SELL~!]]> http://www.dslreports.com/forum/remark,21081099 Tue, 09 Sep 2008 10:07:46 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21080824 Doubledee32 : As everyone has stated it's a buyers market now. I've looked at some investment properties and while I'm not looking for someone to GIVE me thier home I found out that alot of sellers thought the market was in thier favor. I came across a property the guy put in 20K and wanted to recoup most of it. I had an inspector(my choice) come in and give me a detailed report and I came within 1900.00 of his asking price which was quite fair and he took my offer. What are you asking for and just how low are you willing to go? The market will rebound if you're willing to wait it out.]]> http://www.dslreports.com/forum/remark,21080824 Tue, 09 Sep 2008 09:04:03 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21080514 boaterbob : *NO* scented candles (IMHO) - they are a sure giveaway you're covering up something :-) And, some people are allergic to the scent of those things. Most people know they are there to mask odors!

Now, fresh baked cookies, or fresh baked banana nut bread, or bread cooking in a bread maker (neat in appearance and can be left cooking unattended - I think), or a pie fresh out of the oven with fresh coffee ...

And while we are on the subject, have you cleaned the cabinet under the sink? Polish the water pipes/traps, remove all but maybe some Windex and maybe 1 other cleaner. Make sure there are no stains on the cabinet floor - or buy a piece of that thin door covering wood at Home Depot and cut a new floor to fit. Everyone always looks under the sink :-)

Good luck

p.s - maybe some Joan Baez playing in the background (if the lookers are as old as me). Actually, no noise is best.

Also, is the inside of the refrig spotless? People will look! All these little things (as far as you're concerned living there everyday) can stop an offer - people can be really picky.]]> http://www.dslreports.com/forum/remark,21080514 Tue, 09 Sep 2008 06:55:13 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21079998 Icarus :
I work closely with several real estate agencies and they predict that the market will only go further in the way of the buyer.....the doom sayers predicting for the next 5 years. Most homes they have been able to move below $500K have gone for 25% of the asking price. I have a couple of properties,one in probate and 2 building lots I couldnt imagine trying to move/sell at this time. If you dont really need to move,just hold tight and see what the future brings......or be prepared to take a big hit on the asking price......hoping to piggy back a good deal in a buyers market.
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Team Helix- Folding@Home and Rosetta@Home]]> http://www.dslreports.com/forum/remark,21079998 Tue, 09 Sep 2008 01:00:35 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21079880 mr_slick : It is one or more of the following:

Dog odor / paraphernalia

Price

The very nature of the market-- a lot of lookers with the knowledge that they have a lot of choices and leverage

My suggestion is to lower the price in a week or two if no bites and also take all dog stuff with you and bake some bread / cookies / garlic something the night before.]]> http://www.dslreports.com/forum/remark,21079880 Tue, 09 Sep 2008 00:26:05 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21079232 justin : it is a cheap trick but baking cookies ( with tray offering them as the excuse) or bread during open house works wonders. Even hard bitten Agents in new York try this, along with sade on a cd player and candles (scented or not). Of course every light is on and fresh flowers are out. ]]> http://www.dslreports.com/forum/remark,21079232 Mon, 08 Sep 2008 22:26:36 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21077504 jsbaker : I can agree with the dog not going anywhere.

My other half moved to a temporary place on some property my parents own 2 hours way so he could take our 3 dogs away from the house. Let me tell you it is about the hardest thing I have been through.

The upside is that there is no indication that was ever 1 dog much less 3 in my home. No smell as everything is new and has been ozoned and no visual signs. We asked the realtor about me keeping one of them there just for company and she advised against it if at all possible.

Hang in there Badger the right buyer will come along. 30 days is just to unrealistic in today's market. I was felling the same way as you about two weeks ago and now I have just resigned myself to the fact that it will happen when it happens.]]> http://www.dslreports.com/forum/remark,21077504 Mon, 08 Sep 2008 17:03:49 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21077347 quatrix : Mabye they simply loved everything except the price tag. There are plenty of things I "love" but either couldn't afford or wouldn't buy because of the value. We've looked at plenty of expensive houses that we could afford but had absolutely no intention of buying. A lot of sellers cling to the inflated bubble prices from a few years ago and won't admit to themselves that they can't get as much profit as they'd hoped.]]> http://www.dslreports.com/forum/remark,21077347 Mon, 08 Sep 2008 16:31:04 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21077236 cowboyro :
said by Kringle See Profile :

If the prospects don't have any mental triggers they might not think about a dog living there.
If the buyers have a nose they will know a dog is living there. There is always a persistent smell that owners are used to, but any person that doesn't have a dog will feel it immediately, no matter how well the owners clean the house.]]> http://www.dslreports.com/forum/remark,21077236 Mon, 08 Sep 2008 16:10:41 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21077172 Kringle :
said by Badger3k See Profile :

We do leave the bowls down and his cage where it is, but all of his toys are in the cage.
I don't know but taking the evidence with you might be something to try for the next showing. If the prospects don't have any mental triggers they might not think about a dog living there.]]> http://www.dslreports.com/forum/remark,21077172 Mon, 08 Sep 2008 15:59:24 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21077137 Badger3k :
said by Kringle See Profile :

I fully understand the need to keep the dog at home with you (I have one too). However, do you take the evidence that a dog lives there with you when there's a showing? By that I mean the dog bowls, dog toys, dog food, so on and so forth.

If you've been as good at making sure there's no dog odour/fur as everything else you've described then that's the only other thing I could see. Baking an apple pie just before a showing appears to do wonders to mask any dog odours as well.

Apparently it's a much tougher market there than here so, hang in there.
We do leave the bowls down and his cage where it is, but all of his toys are in the cage.]]> http://www.dslreports.com/forum/remark,21077137 Mon, 08 Sep 2008 15:54:49 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21077071 Kringle :
said by Badger3k See Profile :

When someone schedules a showing, the dog is not left in the house and is taken with us to where we go hang out during the showing.
I fully understand the need to keep the dog at home with you (I have one too). However, do you take the evidence that a dog lives there with you when there's a showing? By that I mean the dog bowls, dog toys, dog food, so on and so forth.

If you've been as good at making sure there's no dog odour/fur as everything else you've described then that's the only other thing I could see. Baking an apple pie just before a showing appears to do wonders to mask any dog odours as well.

Apparently it's a much tougher market there than here so, hang in there.]]> http://www.dslreports.com/forum/remark,21077071 Mon, 08 Sep 2008 15:45:22 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21077041 djrobx : You're not doing anything nefarious by asking us for sales tips. I'd also think the chances of someone being smart enough to google the LINK itself pretty low.

I'd think you'd want to be sharing the link with as many people as possible so you get more eyeballs looking at it. Maybe a member of this site will decide they want to buy your house!
--
AT&T U-Hearse
Your funeral. Delivered.
]]> http://www.dslreports.com/forum/remark,21077041 Mon, 08 Sep 2008 15:39:20 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21077009 Badger3k :
said by sailor See Profile :

said by Badger3k See Profile :

Since our Realtor is a sellers agent, we did what she told us. Just start room by room. If you'd like, I'll PM anyone the Realtor.com listing.

Why are you selling ? and if you can post the Realtor.com posting link or PM to me..I would like to take a look.
We're selling to get something bigger to start the kid process and closer to work. Right now I drive 80 miles round trip a day. I'll PM you the link as well. :)]]> http://www.dslreports.com/forum/remark,21077009 Mon, 08 Sep 2008 15:31:07 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21076995 Badger3k :
said by djrobx See Profile :

You're spending a lot of time trying to describe what you've done ... is the listing available online? Can you just give us a link to look at? I would think you'd get a lot more useful responses that way.
As things tend to go on the internet, I don't want any potiential prospect googling and finding this post with a link to the house. Buyers already have enough ammo, I don't need to give them anymore.

Again with the dog. Bottom line is the dog stays in the house with us and if you don't like a house because of the dog, so be it. I'd suspect that if that was the case, someone would have said so in their feedback. I'm not going to move the dog out for what could be an unknown amount of time for the house to sell. That is just mean to him.

When someone schedules a showing, the dog is not left in the house and is taken with us to where we go hang out during the showing. ]]> http://www.dslreports.com/forum/remark,21076995 Mon, 08 Sep 2008 15:27:34 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21076957 djrobx : You're spending a lot of time trying to describe what you've done ... is the listing available online? Can you just give us a link to look at? I would think you'd get a lot more useful responses that way.
--
AT&T U-Hearse
Your funeral. Delivered.
]]> http://www.dslreports.com/forum/remark,21076957 Mon, 08 Sep 2008 15:19:09 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21076908 krazyboi : Hey guy I feel your pain. Aside from any obvious things that would be throwing your buyers off that you would know for sure, the other things could be out of your hands (layout of your house, neighborhood, market, etc).

I kinda went through the same situation with my previous house. I put my house up for sell at the end of Aug ’07-Nov ’07 and we got a bunch of people in but no offers. The negative feedback sounded like it was from picky people or others who just happen to be viewing a bunch of houses that day. We took it off in Nov because of the holidays and the only thing our realtor could think of was to lower the price, when it was competitively priced and we were willing to negotiate.

We ended up getting a new realtor come Feb ’08 and the house sold in less than a month at the same price we had it in Nov! Here are the things that helped us out:

-We staged our house totally different. Instead of showing how open it was, we made it cozy feeling like they could just move in (we bought cheap decorating stuff like plants, hung pictures, rearranged the couches, etc).

-Our new realtor did feedback totally different. He sent out a personalized email instead of a questionnaire. He said that if it is a questionnaire the agents will more likely just answer positive unless something really stuck out. We ended up getting better responses that were only a paragraph long but it helped out more. (we had responses like: the buyers wanted to compare it, it was at the high end of their price range, couldn’t get pre-approved, wanted more amenities from the neighborhood, etc)

-The time we put it on the market! Our realtor said that one of the best times to put it up for sell was before summer. We ended up putting in on at the end of Feb, shooting for March (we waited the full 90 days so our days on market would go back to zero). This could be what is happening with you.

-Also the dog could be an issue like the previous posts said. When we were shopping for our house we ruled some if they had house dogs/cats because of the dander, smell, etc. We didn’t even know that the owners in our house we bought had cats until we had the carpet cleaned after they moved out, otherwise we would have seriously considered not getting it. They must have taken their cats during the showings. Could you have them call you before showings? Then you could take your dog with you before a showing.]]> http://www.dslreports.com/forum/remark,21076908 Mon, 08 Sep 2008 15:09:34 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21076801 dark_star : To Badger3k

A few thoughts, at least one of which I've seen previously stated in this thread.

One, you're in Ohio, which is a very high foreclosure state. Buyers have their choice of dirt cheap houses. And credit has recently become very tight. It is a lousy time to sell.

I'm in Louisville, not too far down the road from you. The market here not quite as devastated as Ohio, but I do recall reading that there is an 11 month supply of houses on the market. And I've seen many rough around the edges repos go for less than the cost of a domestic new automobile. So to expect serious offers in the first month, in your market, is wishful thinking.

Second, not much you can do about this, but your dog will turn off most buyers. I like dogs, I really do. But I don't want one in my house. That dog smell is unmistakable. And even if your house, by some miracle, is 100% dog hair free, the smell will remind buyers of friends homes they have visited where they can't leave without finding dog hair stuck to their clothing.

If I were willing to pay top dollar (or even close to it) in today's buyer's market, and if the place had an odor of dog, I'd keep looking – no matter how nice the house is otherwise.

You might try a lot of air freshener or odor killer, but any perfumed smell will raise the suspicions of many.

Third, if you want to eliminate the merely curious, you could ask your and the buyer's Realtor to show the house only to pre-approved buyers.

Fourth, if you manage to sell your house for anywhere near the asking price, in the next six months, count yourself as very fortunate.]]> http://www.dslreports.com/forum/remark,21076801 Mon, 08 Sep 2008 14:47:42 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21076293 Badger3k :
said by justin See Profile :

if you got no offers then either people are not realizing you would entertain offers due to your price being too high, or the buyers you are attracting are not serious. It is up to you to judge which this is. (probing people to see if they have already sold their property and are pre-qualified, is probably a good indicator).

If I had to bet I'd say that buyers feel prices have further to fall and are not impressed with pricing that reflects comparables from earlier in the year.
I went back through my emails with our Realtor and turns out that only 1 person so far has been pre-qualified and/or pre-approved. This isn't something I put much thought into until now.

The LP was decided on what I want to get out of the house. I did consult with our Realtor on this and it was stated that it shouldn't be an issue. I'm also under the impression that its much like buying a car and I don't expect to get LP.

With regards to having to sell now. Technically no, I don't. But 80 miles a day driving to work is getting a little old after 3 years, and what I'm going to loose in selling I'll gain (or I hope) in buying. Worst case senario I am going to end up doing a Lease w/ Buy option on the place.]]> http://www.dslreports.com/forum/remark,21076293 Mon, 08 Sep 2008 13:10:51 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21075881 boaterbob : Had a revelation! Was on my way back from the hardware store where I went to buy some 'Pour-N-Restore' to remove oil stains from my garage concrete floor when I thought -

The OP needs to offer an incentive to buy - like
1) a FREE big screen HDTV (male gender incentive)
2) a $1000 gas card (neutral gender)
3) somethings that would appeal to the ladies
or
4) a FREE dog (child incentive - and no cost to you!)

Just a thought as the OP seems to be doing everything right already.

And, sorry about the free dog part - I know dogs are part of the family - so I retract that incentive suggestion.]]> http://www.dslreports.com/forum/remark,21075881 Mon, 08 Sep 2008 11:52:09 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21075749 morbo : price.

there are 2 houses for sale on my street. both are way overpriced, and i'm not sure they even realize it. one has already lowered their price by $5k, but they really need to drop it another $15k to be close. the other is looking like a flip gone bad--bought for $30k less 6 months ago, now trying to flip it.

people aren't just realizing the market has turned and banks aren't loaning money out.]]> http://www.dslreports.com/forum/remark,21075749 Mon, 08 Sep 2008 11:27:25 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21075716 BBR_InsUW : HI there,
My wife and I are activly looking to buy a House and yes its a buyers market.

Let me give you a Buyers perspective.
We have looked at 50 to 100 houses so far and price ranges from 250,000 to 650,000 and we can tell within seconds of going into a house if it is right.

I know the staging and tips to make it look better, but none of that matters if the house doesnt feel right as soon as you walk in.

You are concerned over the price and so are the buyers, but you are in control but the buyers have the money. If your listing is at +30 days and you look at the other listing in your area you might see many have been reduced and reduced again. If your price stays the same it might seem as if you are not flexible.
Also you did not mention that I saw about the number of for sale in your area and how many are Bank owned or short sells, You need to know this as that is the competition and you cant beat them and dont want to.

So I ask why are you selling now? can you wait and not sell for a year or 2?
--
[BBR]Clan Leader


TWL Competition Director N/A and OC


AA BETA TESTER
]]> http://www.dslreports.com/forum/remark,21075716 Mon, 08 Sep 2008 11:21:40 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21075658 underthehood : Pretty much if you're getting this response than I would have to say you're over priced. In today's market you need to be spot on with price. No speculating. IOW you hired a Realtor. How did you and the Realtor arrive at the list price? Did you tell him/her what you want to see or did he/she do a careful and accurate market evaluation based on comps no more than 90 days old?
I'll preface what I am going to tell you by saying that I spent over 14 years as a professional Realtor. I went through down markets and up markets.
Basically if I ran in to a situation where a price they "need" or "want" was dictated to me I walked. I did not wnat to deal with amateur speculation.
There were other far more desperate people (or the owner themselves) who could put up with that garbage.
So in a nutshell yes you're over priced. Buyers (and your Realtor) are too polite or timid to tell you.]]> http://www.dslreports.com/forum/remark,21075658 Mon, 08 Sep 2008 11:10:44 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21075489 KershawK : If your house is in estate how long does the courts give you to sell it to close the estate ????]]> http://www.dslreports.com/forum/remark,21075489 Mon, 08 Sep 2008 10:35:38 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21075119 cowboyro : The value of [name your item] is the amount someone would be willing to pay for it.
That being said - for how much did comparable homes in your neighborhood sell? And by that I mean both ASKING and CLOSING price. Also same size means equal size, same style, same interior features.]]> http://www.dslreports.com/forum/remark,21075119 Mon, 08 Sep 2008 09:16:28 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21074605 justin : if you got no offers then either people are not realizing you would entertain offers due to your price being too high, or the buyers you are attracting are not serious. It is up to you to judge which this is. (probing people to see if they have already sold their property and are pre-qualified, is probably a good indicator).

If I had to bet I'd say that buyers feel prices have further to fall and are not impressed with pricing that reflects comparables from earlier in the year.]]> http://www.dslreports.com/forum/remark,21074605 Mon, 08 Sep 2008 04:31:52 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21074276 hortnut : My wife and I were in the market to buy for the last six months and used a number of web sites to do research. We felt that all the houses we looked at in our area of search were still too high for the current market and projected market. So were decided to rent for a year and got a very good deal on a 2 year old home, where the owner is upside down.

I have been reading economic reports from sources throughout the world. I do not think we have reached the bottom in our area yet.

We used hotpads.com and zillow.com [edit: we used these sites for research, not as a venue to look for a listing]/edit> as well as county records [county we were looking in is very advanced in what they provide on property records]. Hotpads is good, as it shows all kinds of trends from foreclosures per 1000 to household income for the area. Zillow gave comparables as well as info on the property we may be looking at. We have checked relatives and friends property and have found zillow to be relative accurate for different parts of the country [though our research is not scientific].

»www.pcmag.com/article2/0,2817,2308082,00.asp is a good article on some other sites to research.

Also trulia.com can be helpful. Of course it all depends upon your area.

Good luck!

edit: We looked at 19 houses in a 3 mo period and researched the most likely possibilities very thoroughly. Of course we smiled, made small talk, gave positive comments, followed up over several weeks and kept any negative comments to ourselves till we left the house. But we felt there were none at this time in our area that would compel us to make any offer.
And I have bought and sold a number of properties in down times, including bare land.

BTW - the neighborhood that we are renting in, has a house that is vacant, the rent for it has been too high and the asking price for this house has been too high. It has not had an occupant since it was built! That is 3 years.
--

Darn, its gettin that time to go to Wallymart to gits me picture taken agin.
]]> http://www.dslreports.com/forum/remark,21074276 Mon, 08 Sep 2008 00:46:57 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21074263 Kringle : Thanks for the answer - a 90-day contract should be a reasonable motivator.

Another thing occurred to me as I read through what's been added to this thread. Has your Realtor had an open house for Realtors? Sometimes it helps to stir the pot.]]> http://www.dslreports.com/forum/remark,21074263 Mon, 08 Sep 2008 00:39:44 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21074252 nightdesigns : It's a great time to buy, crappy time to sell. Buyers have time to look around. When we bought our home in June of '07, just at the tail end of things being hot, it was a "make an offer now, or no offer at all" type of thing. Now buyers can take a few days, or weeks, to find the right place.

Also keep in mind, your buyer base is smaller. People can't obtain loans anymore. Heck, even if you get a good offer, it still has to be accepted by the bank on both sides. Hope the offer has a backup loan waiting, just in case.

At this point price is the only factor you have the ability to adjust on, and you may be at a point where you can't adjust lower. My coworker had his place on the market for a year. He was a the point where he couldn't go any lower because that was purchase price. The two houses next to his were both foreclosures, listed at $50k less. Yes they needed work, but the people who bought them were fixer-uppers. It worked out for them. My co-worker finally took his house off of the market.

Just curious, why are you selling?
--
This Space for Rent...]]> http://www.dslreports.com/forum/remark,21074252 Mon, 08 Sep 2008 00:35:04 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21074050 Jeffrey : I don't know if this is advice, but I can tell you my experiences as a buyer of a recent home, and our trials and tribulations over the last 2 years.

My fiancee and I started looking for houses over 2 years ago, when the market started becoming a "buyer's market". Both of us agreed that we'd like a house with little or nothing "to do" to it. Paint, sure. But major work, a no-no. That's just how we are. We both have good jobs, and our incomes could collectively place ourselves in a nice house in a nice neighborhood in a great school district. Ideally, we wanted a house that can accomodate kids immediately, without the need for expansion. We strictly looked for a specific set of school districts.

After over two years of looking AND NO BIDDING, we bid on a house we both "fell in love with" instantly. It's not perfect - the property is a little small, but it's definitely adequate for a family of 4 and something we're extremely happy with. The school district can barely get any better, and the house needs no work except paint if we feel like it.

This specific house had been on the market since Sept 2007. We bid "x", they countered, we countered, and they came back with a figure that was lower than that our next bid, so we accepted. We signed the contracts last month, so that's almost 12 months they tried to sell it.

In 2007, it listed at a certain dollar figure. We got them quite a bit lower, but in all honestly, it's a win-win for both. They sold their house for a price they were satisfied with, and we bought the house for a price we can afford and are comfortable with.

It was the first house in over 2 years of looking that both of us, after the first visit, said "holy shit, this is nice. I think I love it." Not once did we have that same feeling until now.

Don't get discouraged. It is a buyer's market, but you know that. I'm sure you have a lovely house. Personally speaking, after 30 days, I would not lower the price unless you need to sell. I would wait a bit more, or check with your realtor. Be prepared to go down a bit in this market, but 30 days on the market is nothing.

I will never mention specifics here, but our buyer reduced their price by about 15% between the time they put the house on the market in Sept 2007 and what they sold it for to us in August 2008.

Don't get discouraged. Someone will buy your house. You might have to wait a little, or lower the price over time. Best of luck to you.
--
"Honesty may be the best policy, but it's important to remember that apparently, by elimination, dishonesty is the second-best policy." - George Carlin

[my ramblings]]]> http://www.dslreports.com/forum/remark,21074050 Sun, 07 Sep 2008 23:39:46 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21074042 sailor :
said by Badger3k See Profile :

Since our Realtor is a sellers agent, we did what she told us. Just start room by room. If you'd like, I'll PM anyone the Realtor.com listing.

Why are you selling ? and if you can post the Realtor.com posting link or PM to me..I would like to take a look.]]> http://www.dslreports.com/forum/remark,21074042 Sun, 07 Sep 2008 23:39:06 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21074024 Badger3k : Thanks folks, I'll try to answer everything, so forgive me if I miss a question/comment.

I don't think the issue is the Realtor in this case, she has been getting as many people into the house as possible. With the size of the house, it does only fit into a very small margin of people so I'm sure that has had a lot to do with it. I've looked at the other comparable houses on the market given to me by our Realtor, and while a couple of them are close in size none of them have the same updates so it hasn't been a real apples to apples thing. A 90 day contract is what I agreed too, which seems to be about the norm.

Every update or change we made to the house was done to keep it as neutral as possible. We picked paint we liked obviously, but nothing that was over the top. I can understand people not liking the dog in the house, but nothing we can really do to prevent that. Can't afford (nor would I) send the dog away for what may be a long time. All of the carpets were cleaned professionally before we listed it. The carpet was also put down after he was older and house broken.

The open house probably wasn't the best time to do it. It was over Labor Day weekend and done on short notice. I don't think 2 people was the ideal amount the Realtor wanted, but both people that came would fit very well into the house. One of them has actually come back since to see it again.

Sign has been moved every week to mow the grass. Not much traffic on our street but you can definately see it driving past. Again, even our Realtor doesn't have much to advise on since everything she has heard has been positive. Perhaps this is just part of the process and being very, very patient is the only thing to do. Just after reading so much on the web about target showings and what a lack of offers or showings translates to is hard to know what to believe. I definately don't wanna do this again anytime soon. :p


--
Team Discovery: Project Hope | ET is out there, can you find him?]]> http://www.dslreports.com/forum/remark,21074024 Sun, 07 Sep 2008 23:34:43 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21073980 jsbaker : I am going through the same thing. My house has been on the market for 6 weeks and has had 7 showings. We lowered the price $4200 almost two weeks ago and had an opne house today. Realtor said we had one show up and I know she did not do much publicity for it.

Only gotten feedback from a couple of showings all positive except for one that said it was not what the cleints were looking for. Our house has all new flooring (laminate,ceramic and carpet) all new counters in kitchen and baths and has been fully painted inside and out. In short we spent $15,000 in the 4 months before listings on updates and repairs.

Something to keep in mind is that it is a buyer's market right now and there are alot more houses for sale than there are buyers. There are 8 other houses for sale in my subdivision of 476. Only 3 of those are close to or better than what my house is and one of them is down the street. It is the same exact floor plan and sq footage but without all the updates and is $5000 less but with some other listing and bank issues.

Something you need to look at is if other homes in your area are selling. Only one house in my neighborhood has sold since I listed mine and it was right after I listed it. When I listed mine they were selling in two to four weeks.]]> http://www.dslreports.com/forum/remark,21073980 Sun, 07 Sep 2008 23:25:08 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21073737 raccettura : Why not just ask the Real Estate agent what they think? An experienced one could likely give you a pretty accurate answer. They want to move the house too (and collect their %).

Sounds like it might be high... but it can also be people are looking for houses they can lowball... and figure your house is too nice to ask for anything less than asking. Might simply be the right buyer hasn't made it to your neighborhood yet.]]> http://www.dslreports.com/forum/remark,21073737 Sun, 07 Sep 2008 22:31:19 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21073184 Kringle :
said by boaterbob See Profile :

My Realtor had several Open Houses and we thought 2 viewers at an Open House was good.
Wow. What I've been told (for around here, not too long ago) is that 6 is just OK and over 8 is good.
2 = good -> amazing.]]> http://www.dslreports.com/forum/remark,21073184 Sun, 07 Sep 2008 20:56:00 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21073154 boaterbob : As "jack b" suggests, ask your Realtor to get you the comps for recent sales in your area. This info may not mean anything, but it won't hurt to look at it. Also, your Realtor should put you on the list to receive e-mails on all new comparable new listings so, again, you can see how you stack up with the competition. If there are foreclosures in your area, buyers may take one of them over buying from you - but the sooner they are sold, the better your chances are in selling.

It took me 5 months to sell my house in Dec of last year. My Realtor had several Open Houses and we thought 2 viewers at an Open House was good.

Our best prospects were people who had a need to move to our area and thus really needed to find a house. The casual lookers all had kind words but made no offers. BTW, we had already moved and had a professional stager put furniture in the vacant house (it was not to my taste, but they knew best, I guess, as the house eventually sold.) I paid $400/mo to the stager.

The buyer needed to move to our area for work - didn't want a survey nor a house inspection - the wife did want one of the stager's chairs (so I paid the stager a cheap price for the cheap chair - but the house got sold!)

As you have a dog, I'm hoping you've already had the carpet cleaned by a pro!?! As someone else said, even the sight of a water bowl could be enough to turn off some people - water bowl means dog - dog means dog smell and dog hair and maybe a "mistake" on the carpet, etc. It is quite surprising what can sour a sale - just the smallest thing - even "I don't like the color ...". Many people can not understand that colors can be changed - but they are the buyers.

So, my advice - I don't have much new to add to earlier posts or to your approach - you simply need to wait for an offer - and it could take a while - but, eventually it will sell.

Maybe, on a weekend, go look at other houses for sale - would you buy one of them? If so - why? If not - why? Will you learn anything - who knows - but it will give you something to do :-)

Another thought comes to mind. I am a firm believer in the For Sale sign should be perfectly placed on the lawn so drives can see it. And it should be clean and level to the ground. I also move it around a little every week or so. Does this really help - maybe?? ]]> http://www.dslreports.com/forum/remark,21073154 Sun, 07 Sep 2008 20:49:48 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21072826 KershawK : you can go to www.zillow.com and put your house address in and it will show any other houses in your area with the prices.]]> http://www.dslreports.com/forum/remark,21072826 Sun, 07 Sep 2008 19:41:59 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21072687 jack b : Before lowering your price, ask your realtor to give you a list of comparable properties for sale in your market area. By comparable I mean similar living space and property and the asking price. This will allow you to see the "price per square foot" which you are asking for and how you stack up to your "competition".
If you do lower your price, usually that puts you atop the "new" listings in your area, even if you've been on the market a while.
--
~Help Find a Cure for Cancer~
~Proud Member of Team Discovery ~]]> http://www.dslreports.com/forum/remark,21072687 Sun, 07 Sep 2008 19:16:28 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21072646 anon : we've had our house up for sale in columbus,ohio for a year and a half we've had offers but way to low. i think because of the housing market people want your house for a little nothing any more.]]> http://www.dslreports.com/forum/remark,21072646 Sun, 07 Sep 2008 19:08:07 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21072397 Sweet Witch : The only way you're going to get honest feedback is to do what they do on "Sell This House" (A&E, Sat. mornings) which is hidden video cameras to see what people are saying in each area. You're allowed to as long as you keep the info private, and you'll know what people are really thinking.
--
"While you can teach an old dog new tricks, you simply can't teach him to be a cat."

"Are you my Mummy?"]]> http://www.dslreports.com/forum/remark,21072397 Sun, 07 Sep 2008 18:25:44 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21072004 caddyroger : It took me 5 months to sell my house in a bad year for selling houses. In the 5 months I had only I person viewed the house. The Realtor and I set down and talked things over. He mention it could be the price I was asking for my house about $20,000 over what the other houses the area are selling for.
About a month later with no viewers I lowered the price $5000. 2 weeks later I got a call that a guy have made and offer. He bought the house for what I was asking for but wanted me to pay for a 18 month house warranty on it which I accepted.
Is your asking price way over what other are selling for in the area. People may say that you house is the best but if your house is way over they can take what they save on another house have it redone.
You said that you painted the rooms. What color did you paint them? I painted mind white. Most buyers will paint the rooms. White will let them paint without having to put 2 or 3 coats of paint.
--
Caddy]]> http://www.dslreports.com/forum/remark,21072004 Sun, 07 Sep 2008 17:04:59 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21071878 Kringle : ninjatutle brings up a very interesting point.
said by ninjatutle See Profile :

Fire the realtor and get a new one.
How long of a contract did you give the Realtor? If you decide to change Realtors, the contract should be as short as possible to better motivate them to sell your property. Long contracts, understandably, just don't seem to get as much attention.]]> http://www.dslreports.com/forum/remark,21071878 Sun, 07 Sep 2008 16:29:50 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21071824 Kringle :
said by Badger3k See Profile :

We have had 1 open house that only 2 people showed up to...
This all sounds really good except what I've quoted. To me, this is an indication that there wasn't enough publicity for the open house or that the publicity was in all the wrong places. Look critically at the advertising for the open house as I, personally, see that kind of response as a dismal failure.]]> http://www.dslreports.com/forum/remark,21071824 Sun, 07 Sep 2008 16:19:22 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21071816 averagedude : You mentiomed you have a dog. You may want to have the dog stay with friends and family full time during while the house is for sale. I am not a dog owner and maybe because of this I can tell if someone has a pet with seconds of entering a house. A smell that you don't notice may be harsh to another. Give you pet a holiday and air out the house.]]> http://www.dslreports.com/forum/remark,21071816 Sun, 07 Sep 2008 16:17:32 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21071809 ninjatutle : Fire the realtor and get a new one. ]]> http://www.dslreports.com/forum/remark,21071809 Sun, 07 Sep 2008 16:14:34 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21071752 Badger3k : Since our Realtor is a sellers agent, we did what she told us. Just start room by room. If you'd like, I'll PM anyone the Realtor.com listing.

Living Room:
- Fresh paint
- TV is here with couches, unforunately not a lot to stage in this room, it already speaks for itself

Dining Room:
- Fresh paint
- Moved furniture around to make it appear more open
- Removed many personal items
- Added painting to the wall that matches room color

Kitchen:
- Fresh paint
- Recently updated (last winter)
- Added a few staging items

Mud room:
- Fresh paint

Basement:
- Fresh Paint
- Added a few paintings that match the room color

Bedrooms:
- Fresh Paint
- Cleaned out closets so they are open
- Added paintings to match the room color
- Removed furniture to make the room more open

Bathroom:
- Fresh paint
- Recently updated (last spring)

Garage is clean and open to show a car being able to park in it. We have about 20 pictures online and I was there to watch her take them and I feel they represent very well what the house has to offer. The paragraph listing with the house inlcudes all of the updates that we have done, plus puts in on a quiet street.

We have never been home during a showing. We always clean the house the night before and again quickly in the morning because we have a dog. The dog and us go away (friends, family, someplace) about 30mins to an hour before the scheduled showing. We have had 1 open house that only 2 people showed up too and other than that each showing has been with a realtor walking them through the home. Yard is trimmed and cut and dog droppings picked up to allow them to walk around the yard.

The house is listed on craigslist, Zillow, Trulia, realtor.com, the local paper, the realtor's site... can't think of anywhere else to list it. I can't think of anything else to make it more visually appealing, and as I've said we have not had a negative comment thus far on the house.

I don't want to lower the price unless I have too, but at the sametime I don't really want to be on the market 8+ months either, which is why I'm at a loss for how it can be the best, but nobody wants to make an offer.
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Team Discovery: Project Hope | ET is out there, can you find him?]]> http://www.dslreports.com/forum/remark,21071752 Sun, 07 Sep 2008 16:03:34 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21071653 Kringle :
said by Badger3k See Profile :

Its been on the market for about 30 days now.
Actually, you should be objectively asking yourself why it hasn't sold yet. After 30 days it gives buyers another bargaining chip.

Has your Realtor done all the right things like a great web presence with GOOD photographs and local newspaper advertising that highlight all of the property's positive selling points?

Is there an "elevator script" in place where the prospect can be hit with all of the positives within their 15-second attention span?

Are you and your family out of the house during a showing or open house (you should be)?

Are the prospects being given a tour that highlights the selling points or are they just left to wander on their own?

EDIT: What kind of "closing tactics" are being used when prospects are leaving a showing? You might want to have a friend that the Realtor doesn't know drop by a showing and let you know what's being done to sell your house.]]> http://www.dslreports.com/forum/remark,21071653 Sun, 07 Sep 2008 15:41:22 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21071595 Kringle : I think that, for one thing, you have hit on why it's hard to sell your house without a Realtor. The comments that you will receive will be generally positive because, for the most part, people have common courtesy and are reticent to insult others to their face. If you got zero negative comments and most of the comments were general, "it's really nice" comments then it might be that the house isn't grabbing them as much as they are letting on.

Have you "staged" your house for sale or is it full of your personal stuff? People need to see a blank slate upon which they can superimpose their personality and "baggage". Your life experience isn't the same as theirs and your "stuff" just clouds the issue and impedes them from visualizing the house with their "baggage" in place.

The most effective thing to do is to remove all decoration that relates to your personality, especially family pictures and only leave neutral ones hanging (landscapes, etc.). Take an objective look at the furnishings. Do they imply a certain "style" to the house or are they neutral in effect? Is there too much furniture in place that makes the house look smaller? If so, put some of the furniture in storage. Is everything exceptionally neat and tidy, including the closets, garage and basement? If not, then make it so.

Your goal here is not so much to get an offer but to get multiple offers and have the buyers raise the selling price by bidding against each other.

Selling a house should be a lot of work. If you don't feel comfortable with (or don't want to do all that work) staging your house for sale then hire a professional stager and you will more than recoup what you spend on it. Good luck.

EDIT: Just saw the posts that were made while I was typing. You said "some staging". What does that imply? Was the Realtor the staging consultant or did you confer with a professional stager? You'll get the best results from a specialist.]]> http://www.dslreports.com/forum/remark,21071595 Sun, 07 Sep 2008 15:29:10 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21071579 Badger3k : Yes, we are living in the house. Our realtor did have us do some staging and the house has been clean for each showing. There aren't any other houses for sale in the neighborhood. As far as curb appeal goes, like I said we have had "the best house" all of these people have seen.

Yea, I've read those tips along with numerous other tips on the web. The only area we might be off is price, but price hasn't even come up. Its been on the market for about 30 days now. Yes, I am well aware 30 days is very, very short and I'm not asking why it hasn't sold yet. I just don't see how its possible to have "the best house", yet nobody showing any real interest.
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Team Discovery: Project Hope | ET is out there, can you find him?]]> http://www.dslreports.com/forum/remark,21071579 Sun, 07 Sep 2008 15:25:12 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21071543 boaterbob : I suppose more info is needed before we can make comments. Are you living in the house? If vacant, has a professional stager done their magic. Have other houses in your neighborhood sold recently - were they comparable with yours? Does your house have 'curb appeal'?

Have you read all 3 pages of
»House selling & buying tips?

The tips in the above like are worth reading. ]]> http://www.dslreports.com/forum/remark,21071543 Sun, 07 Sep 2008 15:17:39 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21071540 Willy : You said "come through the last week".

Not "it's been on the market a week".

How long has it been?]]> http://www.dslreports.com/forum/remark,21071540 Sun, 07 Sep 2008 15:17:28 EDT Re: What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21071484 tcope :
said by Badger3k See Profile :

So we've had about 8 people come through the last week to look at our house.
You've only mentioned that your house has been on the market for a week. Has it really been for sale longer than that?]]> http://www.dslreports.com/forum/remark,21071484 Sun, 07 Sep 2008 15:03:00 EDT What to do when selling and everyone loves it, but no offers http://www.dslreports.com/forum/remark,21071466 Badger3k : So we've had about 8 people come through the last week to look at our house. Most of them by our Realtor, a couple from other ones. I've always asked for feedback a couple days after the showing to see what the comments/thoughts were.

We have not received a single negative thing about the house. Everything has been "this has been the best house they have seen" or "they loved it". If everyone is "in love" with it, why the hell hasn't anyone made an offer?! I know the market sucks, its extremely slow and there are a billion houses on the market, but this is getting very frustrating for us because we apparently don't have any issues to correct to make it more marketable. We haven't even received any low ball offers.

Are we priced too high and nobody wants to say so? I would doubt that, but suppose its possible. Should we go ahead a lower the price anyway? Are just the wrong people coming through? Our thoughts are maybe the people looking aren't serious about purchasing, I guess that part we'll never know.
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Team Discovery: Project Hope | ET is out there, can you find him?]]> http://www.dslreports.com/forum/remark,21071466 Sun, 07 Sep 2008 14:58:11 EDT