Here's my situation -
http://pics.bbzzdd.com/users/viedit/street.jpg
We own a townhome in a subdivision almost entirely made up of them. All of the houses are nearly identical. Same sq ft, same back yard sizes, same floor plan, ect. They just differ a bit in color. We do live in a highly desireable area so that's a plus, but the problem is that everyone on my street is selling at this time as well. 🙁
I have to sell my home because I'm moving to another state in a few months. Renting isn't an option and I'd like to FSBO if at all possible. Everyone else on the block is FSBO as well.
I know what everyone on my block is asking for their homes, and honestly, they are asking $5,000 to $10,000 too much. For another $10,000 more than what they are asking for a 5 year old home, somebody could drive down the street and buy a brand new townhome with an additional 150 square feet.
For reference, one home is asking $145,000, another is asking $144,000. Two are asking $141,000. I'm not sure what the fifth is asking. The new homes down the road are going for $155,000.
All I want is $135,000. I'd walk away with a little over $20,000 in equity in under 3 years time. In this region, that is pretty good. I was thinking of listing at $138,000 and taking an offer as low as $135,000.
I'd rather make a fast and clean sale than sit on the market for 4 months because of an overinflated price. We talked to the people that live on the other side of our property. They are the ones asking $145,000. They've had some bites on the place, but the callers lose interest once they hear the asking price. The sellers are considering lowering the price. I'm not sure how low they will knock it down to.
I'm not too scared about pissing off neighbors by dropping the bottom out of the pricing. They overpriced in the first place. What I am worried about though, is do you think it makes it look like something is wrong with my home if I'm $10,000 less than the other guy next to me?
[EDIT]
Upate:
Listed the house with a realtor @ $143,900 and signed the paper at 4:30 Friday night. Realtor put sign in the yard at 7:30 Saturday morning.
This morning (Sunday) we got a call at 11:30 AM to get out so they could do a showing at 12:30. At 4:30 we had an offer for $140,900. Countered at $142,900 and offer was accepted. Realtor also dropped the commission to 5% instead of 6% since they didn't have to do ANY work...no showings, no open houses, didn't even list it on the MLS, ect.
So after the smoke cleared we wound up spending $100 less than what I was going to list it FSBO at.
I've got earnest money down, and they've be pre-approved for the amount. Closing date also worked out to be when we wanted out as well. Nearly perfect deal.
Yay!
http://pics.bbzzdd.com/users/viedit/street.jpg
We own a townhome in a subdivision almost entirely made up of them. All of the houses are nearly identical. Same sq ft, same back yard sizes, same floor plan, ect. They just differ a bit in color. We do live in a highly desireable area so that's a plus, but the problem is that everyone on my street is selling at this time as well. 🙁
I have to sell my home because I'm moving to another state in a few months. Renting isn't an option and I'd like to FSBO if at all possible. Everyone else on the block is FSBO as well.
I know what everyone on my block is asking for their homes, and honestly, they are asking $5,000 to $10,000 too much. For another $10,000 more than what they are asking for a 5 year old home, somebody could drive down the street and buy a brand new townhome with an additional 150 square feet.
For reference, one home is asking $145,000, another is asking $144,000. Two are asking $141,000. I'm not sure what the fifth is asking. The new homes down the road are going for $155,000.
All I want is $135,000. I'd walk away with a little over $20,000 in equity in under 3 years time. In this region, that is pretty good. I was thinking of listing at $138,000 and taking an offer as low as $135,000.
I'd rather make a fast and clean sale than sit on the market for 4 months because of an overinflated price. We talked to the people that live on the other side of our property. They are the ones asking $145,000. They've had some bites on the place, but the callers lose interest once they hear the asking price. The sellers are considering lowering the price. I'm not sure how low they will knock it down to.
I'm not too scared about pissing off neighbors by dropping the bottom out of the pricing. They overpriced in the first place. What I am worried about though, is do you think it makes it look like something is wrong with my home if I'm $10,000 less than the other guy next to me?
[EDIT]
Upate:
Listed the house with a realtor @ $143,900 and signed the paper at 4:30 Friday night. Realtor put sign in the yard at 7:30 Saturday morning.
This morning (Sunday) we got a call at 11:30 AM to get out so they could do a showing at 12:30. At 4:30 we had an offer for $140,900. Countered at $142,900 and offer was accepted. Realtor also dropped the commission to 5% instead of 6% since they didn't have to do ANY work...no showings, no open houses, didn't even list it on the MLS, ect.
So after the smoke cleared we wound up spending $100 less than what I was going to list it FSBO at.
I've got earnest money down, and they've be pre-approved for the amount. Closing date also worked out to be when we wanted out as well. Nearly perfect deal.
Yay!
