Cincinnati Nesties
tasha859
member
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Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Advice on Selling a condo?
My husband and I have had our place in Wilder (that's near Newport, about 10 min from downtown Cincy) on the market for seven months and we're getting nowhere. We've upgraded it but we can't seem to compete with our older neighbors who are basically giving away their places. Some of my co-workers had their condos on the market for more than a year before they sold...I'd rather not be like them. We have found a place in Ft thomas but need to unload the albatross before we make the move.
On a totally different topic...I'm bored out of my mind b/c my hubby is in Japan touring with the Symphony. Longest two weeks of my life!
Re: Advice on Selling a condo?
You might as well suck it up and slash the price now. We sold our condo in three months in Bellevue, KY this summer. We upgraded too much for where we lived. When we slashed the price, we sold it within a week. We ended up selling it for only $3,500 more than we paid for it 6 years prior.
The condo market is terrible right now according to our realtor (who was wonderful!). I wish you luck. We love living in Ft. Thomas!
What a frustrating situation for you! Notguilty is totally correct. If a property isn't selling, it's because it isn't priced right. Sadly, we don't get to determine what our property is worth, it's only worth what someone else is willing to pay for it.
You got great advice about sitting down with your realtor and really looking at the price, their marketing strategy, and your staging. Be open to ideas! Good luck. It's a crappy time to try to be selling a condo. I hope you find a buyer soon.
Ditto moesten.
We sold our condo in 20 days in 2007. It took over 2 mos to close, but that is another story. I think what helped us is that it showed really well, and we took the time to do things that made the condo look bigger. We emptied our closets and moved stuff out/packed away in storage. We made sure that it was in pristine condition before any showing, and had open houses each weekend. We also let the buyer keep the appliances (which were nice!) and offered a home warranty ($395 through HMS). We installed ceiling fans installed in the 3 main rooms and had faux wood blinds on the windows and I believe those things helped as well.
Oh, and my oven was spotless, which apparently really impressed my buyer.
Other things you can do is include the HOA fees and the closing costs.
If your realtor isn't doing his/her part, find a better one. Also, you might see if the realtor can bring a few other realtors through the condo to see what improvements can be made to make it more appealing to buyers.
One of my friends has a condo in Eden Park that has been on the market for a while now. They decided to just post it on craigslist as a rental and see what happened. The first day it was on craigslist they had multiple calls about it. They posted it the second day and they had someone who was ready to sign a year lease within a week of their first posting.
Renting it out wasn't their first choice, but now they don't have to worry about it for a year and will actually be making money off of it and the tax return instead of selling it underpriced.
Who knows what the market will be like in a year but they will deal with it then. It's something to consider!
Jenn & Jason
September 27, 2008
Thanks girls. We have lowered our price by 10,000 already but we aren't getting the foot traffic so we obviously haven't gone low enough. Our realtor has agreed to take no commission and her strategy is that we lower our price by a few hundred dollars every few days so that the listing stays in email feeds.
And as far as staging we're on it, but if people aren't stopping by then the issue is probably the price and the fact that there are more than 400 units in the complex and 14 of them are on the market. Plus, Chris and I have the largest unit, 1440 sq ft and a garage, so our condo fees are higher than the competitors.