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Selling a house SUCKS!

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You're competing against better homes with lower prices. Lower your price or stop trying to sell.
 
As others have said, you're priced too high in your market. What are comparable comps on sales in the last six months?

Ignore tax appraisals, they don't reflect current market conditions.
 
leeland said:
We are close with this buyer now (within a couple of thousand of dollars)

We offered 167,000 and he countered with 164,000...

I would almost be willing to take it or counter with 166,000 or 165,500

My wife doesn't want to drop that low so that is a convo we have to have (dreading it)
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What? You're going to quibble over a couple of thousand dollars on a house that you've been trying to sell for 11 months?

Wow, accept his counter and lock him in. Don't counter.
 
Wait, you think $10k less ($3k of which is the realtor's commission) is a "super lowball" offer? Maybe you would benefit from having a realtor who would tell you how to price your house.

Edit: agree with Capt Caveman on taking the offer when you're only $3k apart and you're already willing to give up $1500 of that.
 
You should check out the market in the CA Bay area. You can take a 1400 sqft 25 year old POS with linoleum floors and no air conditioning, price it for a million bucks and watch as you get multiple bids before the first open house.
 
Capt Caveman said:
What? You're going to quibble over a couple of thousand dollars on a house that you've been trying to sell for 11 months?

Wow, accept his counter and lock him in. Don't counter.
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sorry for misleading you...we have been through several counter offers and have gotten that close now as of tonight...

The initial offer was well below 160,000...and adding in the additional cost of his closing costs, commission and our closing costs we would have been right back to what we bought the house for.

Our counter to his first was still close to our asking then he came back to 164,000 just tonight.

Like I said, I would probably take the offer just to be done with this whole thing...of course there is the part of about getting the wife to realize the economy and what happens if we loose this deal and the potential of starting all over with someone else trying to negotiate.

I take the posts as constructive criticism and don't want to sound like a total jack...thanks for the replies
 
I'm in the middle of placing an offer and of course my company announced more layoffs in Sept.It's a buyers market because people lose their jobs in this country on a 6 month rotation.
 
I completely understand your situation with your wife holding out for her price even when within a few thousand. My wife initially was the same way... it's more about knowing you got your way, but after 11 months, you can't do that anymore. Hopefully she'll realize this. If the buyer gets pissed enough, they can be nit-picky about fixes... he has yet to bring in an inspector so...
 
That is my whole deal...trying to bridge that gap with her...

I am along the lines of how long will it take to recoup what she thinks we should have gotten for the home. 3 months...6 months...

At least we will be out of the house...

IDK...maybe I am a simplistic person I would rather be done with it than risk messing it up and like you said this isn't even the closing...there is still the inspection and assessment.

Both of witch I am not worried about but still who knows what can happen
 
I sold my house 6 months ago, by owner. It took 4 showings (3 weeks, 2 of which were in blizzard conditions). The buyers offered a few thousand less than the asking price and didn't ask for closing costs. They had me fix a few things around the house, but it went very smoothly.

I heard from numerous sources that listing a property with less than 3% commission to the buyer's agent makes realtors ignore your property. Why would they show your house and get 2% when they can show a house down the road for 3%?

I would update your listing to 3% buyer's commission.
 
leeland said:
We are in our 11th month of selling our home and have gone through the progression of having a Realtor...got no where...to where we are now trying to sell on our own.

In the past month we have had one guy that is interested and has actually gone through the process of getting pre-approved and has a Realtor on his side helping him.

The first offer came in this weekend and it was a super low-ball on the price on top of additional things such as 'pay x,xxx to buyer to assist with xxx'

We tallied the costs of commission, our closing costs, and giving the buyer the money for his closing costs and it is close to 10 grand right off the top of the sale price of our home (which is listed in the mid 160's)

That is with only a 2% commission to the Realtor...I would be even more annoyed with this whole process if we would have had to pay the 6% we had with our other Realtor.

We countered the low-ball offer with something a little more reasonable to basically include his request for the closing costs into the sale price...as well as a little more to off set his incredible low ball offer...

I know it is a buyers market...and I would probably do the same if I were offering to buy a home...

Friggin' sucks when you are on the receiving end though and you have to smile and take it in the shorts in order to get out of your home...

Pisses me off more because 7 years ago we were in the era of the "SELLERS" market so we could not bargain at all as a buyer...just had to accept the higher price...

7 years later we are in a "BUYERS" market where they can demand your first born with the home 🙂
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160s as in a 160 thousand dollar house ?

Either way, money in your pocket today is Much better than waiting. 10 grand is really a trade off for the "today." IMO well worth it.
 
FelixDeKat said:
People that pay more than 100k for a house are stupid.
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I agree, if my parents didn't have this stupid house, I could have 5-6 really nice cars.

Even with the house I could have maybe 1 or 2, but now they have an excuse not to buy me one..WTF.
 
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edro said:
I sold my house 6 months ago, by owner. It took 4 showings (3 weeks, 2 of which were in blizzard conditions). The buyers offered a few thousand less than the asking price and didn't ask for closing costs. They had me fix a few things around the house, but it went very smoothly.

I heard from numerous sources that listing a property with less than 3% commission to the buyer's agent makes realtors ignore your property. Why would they show your house and get 2% when they can show a house down the road for 3%?

I would update your listing to 3% buyer's commission.
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yeah, it something that most clients do not know about. When I was trying to find a Realtor, I told them straight out, "If you are gonna pull shit like ignore a property just because it has a lower commision fee, do not even bother doing business with me". That filtered 3/4 of the realtors that were in touch with me.
 
ActiveX said:
Some people on my block are walking away from there mortgage's and taking the big hit on there credit report.

House #1 - Paid: $475.000 in 2004, now its valued at $254.000
House #2 - Paid: $467,500 in 2003, now its valued at $229,800

My neighbor's say the bank wont re-negotiate the new homes value and they figure why keep paying such a high mortgage.. when they can claim bankruptcy and rent for a few years till there credit clears up.

This is why i rent 🙂
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Do you have pics of your neighbor hood? How large is the total area of those properties.
 
nerp said:
People that think the housing market in Texas defines the market in the rest of the country are stupid.
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Yeah, as a Texan, (in Houston where a TON of people have relocated here because of the job market), I have to agree that housing here is cheap. When I was in the market, I ran into a lot of people from out of state at open houses who couldn't believe how "cheap" it is here, considering the land lot sqft and house sqft.

I ended up with a lot almost 6800 in sqft, and a house 2200 sqft in size, for less than 130K (before the new buyer tax credt). It's a 6 year old house that was used as a model home for the neighborhood so it felt almost new to me. Cheap labor and low cost material here.
 
We are planning on accepting the offer...it wasn't anything I did outside of planting the seed of the what if game...we could be sitting here another year from today and be even lower.

She was fine with that I guess...we will see where it goes from here.


Thanks for all who replied.
 
Good luck. Bad move selling a house right now. Is my house worth what I paid originally? No. Am I gonna get bent over just to sell? Hell no. Paying my house off early and gonna go from there. Too much invested just to sell just to sell.
 
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