Selling our house...lower price or wait?

Re: Selling our house...lower price or wait?

• vpine member

  

  August 2012

  If it's been on market 30 days and no offers, I would consider dropping price slightly, offering decent amount in closing costs ($5k), home warranty and possibly letting washer/dryer/refrigerator stay, that might bring in offers. For us, we put in 2 bids, asking for closing costs to be covered and appliances to stay, the one who accepted our terms is the one we went with. 

  Report0 Reply
• sapphireb member

  

  August 2012

  Thanks! We expect to leave appliances and help with closing costs, but we didn't state it explicitly in the listing. Might be something to consider!

  Warning No formatter is installed for the format bbhtml

  Report0 Reply
• MommyLiberty5013 member

  

  August 2012

  Do the home warranty too. They are pretty much jokes, but buyers like them. At most, you'd pay $500 towards one at closing.

  You are having a ton of traffic. Are the bits of feedback pertaining to a certain area? If so, what can you and DH do to spruce that bit up or make it show better?

  Report0 Reply
• sapphireb member

  

  August 2012

  MommyLiberty5013:

  Do the home warranty too. They are pretty much jokes, but buyers like them. At most, you'd pay $500 towards one at closing.

  You are having a ton of traffic. Are the bits of feedback pertaining to a certain area? If so, what can you and DH do to spruce that bit up or make it show better?

  Ok, I might bring up the warranty, esp since we have an older home. The only things mentioned were "on the small side" by one or two people, and one couple asked about adding a garage at the end of our driveway (probably possible but probably not a good financial move). At our open house, a couple people mentioned wishing it had 2 full baths instead of 1.5. This would be possible to do, but again, I don't think we would see enough return.

  Warning No formatter is installed for the format bbhtml

  Report0 Reply
• MommyLiberty5013 member

  

  August 2012

  sapphireb:

  MommyLiberty5013:

  Do the home warranty too. They are pretty much jokes, but buyers like them. At most, you'd pay $500 towards one at closing.

  You are having a ton of traffic. Are the bits of feedback pertaining to a certain area? If so, what can you and DH do to spruce that bit up or make it show better?

  Ok, I might bring up the warranty, esp since we have an older home. The only things mentioned were "on the small side" by one or two people, and one couple asked about adding a garage at the end of our driveway (probably possible but probably not a good financial move). At our open house, a couple people mentioned wishing it had 2 full baths instead of 1.5. This would be possible to do, but again, I don't think we would see enough return.

  Okay. You need to make that bathroom have a shower stall and go from 1.5 to 1.75 baths. People like to give guests options of other places to bathe. And if they have kids, that's another reason.

  There are shower stalls that fit in corners or have rounded sides. Some are very narrow like 18"x18". And, even if you spend $1k on this project and then sold the house it's still better than lowering your asking price by $10k. Even if you lower $10k, you are not going to sell there since buyers will still expect to negotiate with you.

   

  Report0 Reply
• sapphireb member

  

  August 2012

  MommyLiberty5013:

  sapphireb:

  MommyLiberty5013:

  Do the home warranty too. They are pretty much jokes, but buyers like them. At most, you'd pay $500 towards one at closing.

  You are having a ton of traffic. Are the bits of feedback pertaining to a certain area? If so, what can you and DH do to spruce that bit up or make it show better?

  Ok, I might bring up the warranty, esp since we have an older home. The only things mentioned were "on the small side" by one or two people, and one couple asked about adding a garage at the end of our driveway (probably possible but probably not a good financial move). At our open house, a couple people mentioned wishing it had 2 full baths instead of 1.5. This would be possible to do, but again, I don't think we would see enough return.

  Okay. You need to make that bathroom have a shower stall and go from 1.5 to 1.75 baths. People like to give guests options of other places to bathe. And if they have kids, that's another reason.

  There are shower stalls that fit in corners or have rounded sides. Some are very narrow like 18"x18". And, even if you spend $1k on this project and then sold the house it's still better than lowering your asking price by $10k. Even if you lower $10k, you are not going to sell there since buyers will still expect to negotiate with you.

   

  Actually if we add a shower stall we could list it as 2 full baths. People do that all the time here. We could only really do that in the basement, and DH thinks it will take up too much space. I think the plumbing logistics are tricky there too.

  Warning No formatter is installed for the format bbhtml

  Report0 Reply
• HarleyKins member

  

  August 2012

  As an REA, I'd say to keep the price as it stands at least for another 60 days - depending on your situation. The amount of showings in that short of time is excellent!

  I'd be sure to be doing an open house about every 6 weeks - changing up the primary picture with every open house, change to the listing, etc. Most agents have their buyers set up on lists that may email them whenever there is a change or new listing; this way your listing looks fresher.

  10k is an agressive price drop and it could work in your favor - you could get a lot more action and competing offers - driving the price back up. Homes in our market have been selling generally 4-6% below asking price. Be prepared for that and don't put yourself in a posistion where you need to bring cash to the table.

  A home warranty can be a cost effective option and provides peace of mind to new home buyers.

  Best of luck to you!

  

  Report0 Reply