I posted on the real estate board but found this board and thought I'd ask your thoughts....
We relocated last summer which we now realize was a mistake and my husband has accepted a new job back "home". We put our house on the market in late January and consistently get 1-3 showings per week but no offers. There is a lot of new construction competition in the area as well as in our subdivision. Our house is only 7 months old (former parade home). Any suggestions on how to get our house sold fast and for close to asking price. We have lowered our price to only 2K over the price we paid for it last September. We are obviously taking a loss after we pay the realtor commission so we need to get as much for the house as possible. I am just so shocked it is still on the market. It has all the bells and whistles (granite, crown molding, etc.). The only negative feedback we get, if any, is the driveway has a slight incline and since we are one a corner lot, the back yard feels a bit "open". We have planted shrubs along the entire lot line so in a few years, they will be a beautiful form of privacy. Tomorrow I am getting quotes on a fence that we may install or give buyers a fence "allowance" Any suggestions? HELP!

I was on the market for 11 months, and had MANY lookers that were very interested. MOST said they love the house, but ended up buying NEW construction because of all the incentives the builders were offering...like zero down, no payments for one year, or a plasma tv. Hard to compete with that..

There are lots of advantages to buying a resale house...the resale usually comes with window coverings and landscaping where as new homes don't.

WE did sell,to first time home buyers. We took a hit in the shorts if you will, but I believe that we had no choice.. I am just glad it is over.

Hang in there...sooner or later (hopefully sooner) your buyer will come along.

This message has been edited. Last edited by: CatieCupCake,

DH has to start job the second week in July so we have a little time still. I know the house will sell, it is a beautiful house, it is just hard to wait.....

Mom23,

Is the new construction going up around you "made to order"/custom or spec homes? A new home can take 6+ months to put up, and some buyers (relos especially) may not be willing or able to wait. You will have to be priced quite aggressively, though. I wouldn't be concerned about a fence allowance IMO.

Good luck!

quote:

Originally posted by mom23boyz:
We have lowered our price to only 2K over the price we paid for it last September.

quote:

Originally posted by SML4Sale:
You will have to be priced quite aggressively, though.

My brother went thru this when he unexpectedly got a new job in a new city, and had to sell his new home which he bought less than a year earlier.

New construction prices were still at what he paid for his. Any new prospective buyers would rather pick the brand new construction because they could select the options and finishing they wanted. Many homes were already framed out, so the builder could quickly finish and close on them.

He ended up having to offer his, at a price lower than what he paid. Add to his losses were all the costs of selling.

I hate to say this, but I agree with SML4Sale. An aggressive price is what is needed, and you might need to face the fact that aggressive means lower, and I mean much more lower than what you paid. In other words, forget about getting more than you paid.

The reality is that in a not-so-hot market, you can't re-sell in just 7 months, and come out ahead.

That's great that you have the shrubs planted, and the fence allowance may help. I think that for some buyers, the fact that the home is on a corner lot will strike it off their list right then and there. Others, though, would see it as a positive or neither positive nor negative.

You can see if the fence allowance makes a difference, and if it doesn't, I would say, given the general facts you've posted, that the way to move your house would be price. You are getting showings, so that's half the battle. So, I'm guessing that there is enough competition to drive values down. Your home has to be priced well enough to make somebody snatch up yours instead of keep looking. When you relocate and have to sell, you can't afford to wait out competition or wait for the "right" buyer. Every time we've sold it has been for relocation, so I know exactly the boat you are in. I'm sorry - I hope that helps some! And good luck!

I think the right person just has to come along. My husband and I have been in three houses and have always bought ones that are already there. Building just seems like a real pain to me.

But my hubby's sister and her husband are on their fourth build. He has a thing with being the first one to poop on the toilet (he uses words a little more colorful though!).

Mom23, is renting it out an option? Maybe if you rented for a couple of years then sell it you might make a profit from it.

To a previous poster. Renting out a house for a while is not a bad idea but be careful about choosing the people you rent it to. Many people who rent places seem to feel they have no obligation to keep the yard fixed up. I recently visited a former home that had been sold after being rented for a couple of years. The yard looked overgrown and horrible. It made me very sad because I had spent many hours making it look beautiful.

You might consider some more landscaping such as trees, etc to go with your shrubs, in particular fast growing and pretty things-daylilies, flowering bushes. Having actual grass and landscaping can be a big draw over new construction for those who like to garden or sit outside and don't want to wait for months for stuff to get planted at a new home. In particular new construction trees and sod often don't "take" because they don't do a great job. Also if you have a deck or patio, really stage that up because again, with new construction it could be late fall before someone could be sitting on their deck-in your house if you have it, they could be spending their summer relaxing outside.