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posted
I need your advice. Our home has been on the market for 8 months. We have had 90 showings, numerous 2nd showings and one offer that was WAY to low. We have already dropped the price to our bottom dollar. The exact model of our home sold 5 months ago for $50,000 more than we are currently listed at. The main feedback we have been receiving is too close to the school (we are across the street from the back of an elementary school and we don't even face the school) and the backyard is too small (we live on a corner lot so we have a side yard, which takes my husband 45 min to mow). People love the house and say it is the best they have looked at, but they don't make an offer. We are ready to pull it off and wait until spring to possibly try again. Not sure what else we can do. Any advice on how to phrase the brochure, stage the yard etc. to help with our next go around?

Here is the URL of the current listing:

http://www.realtor.com/realest...O_80023_M14813-59171
 
Posts: 5 | Registered: Dec 16, 2013Reply With QuoteReport This Post
Picture of aychihuahua
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What does your agent say?
 
Posts: 5365 | Registered: Jul 12, 2009Reply With QuoteReport This Post
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Our agent says we just need to be patient, it will just take the right buyer. We have been patient. 8 months is a long time to live in a house that doesn't look like we live there because so much has been packed and stored away. I had to go through boxes to find my turkey pan. Very frustrating. We have our 91st showing tomorrow.
 
Posts: 5 | Registered: Dec 16, 2013Reply With QuoteReport This Post
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With 90 showings and only one (unacceptable) offer, it seems that there was/is a disconnect between what buyers expect for the price and what your home offers. On the other hand, the comparable house you mentioned (in a presumably better location not across from the school) did sell for $50k more so it would seem your house is accurately priced.

So, at this point, I tend to think your house has been "over exposed" and agree that pulling it off the market until spring is a wise idea. When it's re-listed in March or April, select a different agent (for fresh eyes) and have him/her put together a new comparable sales analysis. Then, price your home 2-3% under the sold comp closing prices.

Best wishes -- it looks like a great house that's nicely appointed, attractive, and clean.
 
Posts: 8201 | Registered: Sep 18, 2002Reply With QuoteReport This Post
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It's nice, neat and clean but certainly there are problems slowing the sale. Regardless of how you rationalize it, you are across the street from a school and one built on a loop in the road so that at least twice a day there is a fair amount of traffic. What people have said about the lot is true, especially with the slope in the back there is very little usable space with almost no privacy even though it appears your lot is one of the largest in the area. But there is nothing you can change about those things.

As far as what might make a difference to some, perhaps changing some of the paint might bring a different look with more mass appeal - not everybody wants a house that is 90% green and orange (with a little white thrown in. The bright yellow with purple accents in the master is also a look for only a specific buyer. Someone will paint much of the house; it can be you or a particular buyer who you haven't yet found.
 
Posts: 748 | Registered: Jan 02, 2005Reply With QuoteReport This Post
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Your house is neat and clean. Your colors do not bother me so much though I would want to paint first thing.

Since you have showings your problem is location and price. You mention that recent house that sold more than you but where was it located? There have been other houses sold in your area for less than you are listed. They may not be the exact floor plan but maybe people do not want that.....the fact is they sold and you did not.

You said you are priced as low as you want to go. Perhaps it would be best to go off market until you can afford to price your home for the market.
 
Posts: 7291 | Location: North MN & Northern AR | Registered: Oct 01, 2002Reply With QuoteReport This Post
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metwo,
When we listed our house in April, our neighbor had just sold their home. We priced our home $2,000 less than what they sold for. We have since come down $36,000. I don't understand how to price our home for the market when our exact model sold 2 blocks from us for $50,000 more than we are at. We have reduced our price to compensate for being close to an elementary school and for having a corner lot.
Frustrating to say the least. We are not just going to give it away.
As far as the paint comments. The body paint is called Danner Tan. It is a tan but in certain light it looks green. If I were to repaint the master bedroom from yellow to a different color, as well as the clay pot color that is in the secondary bathrooms and the accent wall in the main room, what would people suggest? When we painted we were going for earth tones with a few accents. I know buyers are supposed to look past the paint colors as that is an easy fix for them.
 
Posts: 5 | Registered: Dec 16, 2013Reply With QuoteReport This Post
Picture of rker321
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I have not the slightest idea as to what would be wrong with your house. Is simply very very nice., therefore the only culprits could be, the location, the price or the agent. I would do as many say, take it off the market, for now, then when you put it back, sit down with a good agent, that will market your home accordingly. Take a good look at the comp sold prices. location you cannot change. Good luck in the next year. Good agents are worth their price in gold. and you need one like that.
 
Posts: 5014 | Location: 0 | Registered: May 31, 2007Reply With QuoteReport This Post
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You seem to be only considering the one house. Floor plan is only a small thing to consider when you are trying to find comparables. You have to consider space, bedrooms, locations. Sometimes people will compromise on the floor plan if the rest is good and the price is right. Your agent should have given you a complete list of sold homes in your area that are comparable.

It is difficult selling a home. You have done a good job cleaning and decluttering. You have to consider what is best for you.
 
Posts: 7291 | Location: North MN & Northern AR | Registered: Oct 01, 2002Reply With QuoteReport This Post
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Oh, wow, that does seem to be a long time on the market. What is the average days on the market in your area?
 
Posts: 6090 | Registered: Feb 08, 2006Reply With QuoteReport This Post
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Charcoalsmom,
I am not sure, our realtor did not tell us. All I know is 3 people I personally know sold their homes in less than 30 days.
 
Posts: 5 | Registered: Dec 16, 2013Reply With QuoteReport This Post
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Thank you everyone for your input. We are pulling it off the market today. We will see how the market is in March/April and we may relist it at that time.
In the meantime I think we will paint the master bedroom and the secondary baths to make it more neutral.
 
Posts: 5 | Registered: Dec 16, 2013Reply With QuoteReport This Post
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I agree - regroup
 
Posts: 9315 | Registered: Aug 14, 2007Reply With QuoteReport This Post
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