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Suggestions on selling home needed...flooded market

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One thing you can do is try to have the interior professionally re-decorated and list for around the same price. Makes a big difference especially when you have that many properties selling in the neighborhood.
 
Originally posted by: vi_edit
Originally posted by: Mwilding
Just arrange the furniture to make the rooms apprear large. If you have your house stuffed to the gills with wall units, couches, tables, chairs, etc.. you will make it seem a lot bigger if you move some it out.
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Cramming isn't out style. We are very anti "clutter". All furniture is along walls, very limited unneed "extras". Only things on walls are a few framed oil paintings that compliment the rest of the room. I've been in some of the other homes and do feel a lot more claustrophobic than ours because of extra stuff and knick nacks laying around. We try to keep as much open floor space as we can. I like the open feel it creates.
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put them away

leave out a little furniture and that is it. supposedly when a buyer comes to look at a home they don't like to see it too personalized with the other person's stuff. They want a little bit of furniture and whatever to help them picture their layout and that is it.
 
I'm almost in the exact situation. I'm in a town home community with several models like mine for sale. I did do many upgrades over the last 5 yrs and within the last month painted everything. The place looks like a model home. I had my first Open House (unadvertised) last weekend with a pretty good turnout. So far no committed buyers but if they are interested in the model I have my will win hands down. I'm priced a couple grand more than my competitors but the upgrades will by far offset that.
I am FSBO now but will next week list with a agent if I do not have any takers. I need to sell within the next 5 weeks if at all possible. So if I have to I'll come down a bit in price.
I do offer to pay the buyers agent 2.5% commission. I think FSBO sellers need to do that if they want to attract agents to the property. Since I have built that 2.5% into the price I can also offer that to potential buyers that do not have a agent as a way to "clinch" a deal if the buyer needs that extra push.
I have made up flyers and put up a website along with several newspaper ad's. Well that's my plan hopefully it will work out................

Good Luck!!!

If any is looking for a Townhome in the Gurnee Il. area, drop me a line 🙂
 
Put "Motivated Seller" in your ad. A lot of prospective buyers know that is a sign that you will deal with them, so they'll call. How much is up to you.
 
Originally posted by: frankie38
If you are happy with 135k then list for 135k firm. No haggling. This will generate alot of interest from buyers that do not want to negotiate. You will attract more buyers whick may lead to a bidding contest that may lift your price above 135k.

Good Luck!
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Yep. Depends on how fast you want to sell it.

Where is the home?
 
Originally posted by: SuperSix
Originally posted by: frankie38
If you are happy with 135k then list for 135k firm. No haggling. This will generate alot of interest from buyers that do not want to negotiate. You will attract more buyers whick may lead to a bidding contest that may lift your price above 135k.

Good Luck!
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Yep. Depends on how fast you want to sell it.

Where is the home?
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One of the fastest growing communities in Iowa. We are nestled between two larger cities and a perfect bedroom community for households that have a member working in each of the two large cities.
 
Well, my wife and I actually went and met with a realtor. She was referred to us from a good friend of mine. The realtor thinks she's pretty certain that she can get just shy of $143,000 for it. Plus if they can sell within the real estate group, they'll do a 5% commission. 6% otherwise. She's pretty certain she can sell internally.

Assuming 5% I'd actually end up ahead of what I was looking at getting for a FSBO. Getting rid of the headache of selling it outright will be nice since I might be in another state by then.

Thanks for all the suggestions and opinions everyone offered.
 
I hope that works out for you, vi_edit. I think that was the right move considering the circumstances. I bet it turns out that some of your neighbors end up doing the same thing, but you'll have yours sold by then.
 
I bet it turns out that some of your neighbors end up doing the same thing, but you'll have yours sold by then.
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That's what we're banking on. Even WITH the realtor, the asking price is still a couple thousand below what the FSBO's are listing at.
 
Originally posted by: frankie38
If you are happy with 135k then list for 135k firm. No haggling. This will generate alot of interest from buyers that do not want to negotiate. You will attract more buyers whick may lead to a bidding contest that may lift your price above 135k.

Good Luck!
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winnar. if you have set your min price and others are much higher, just go with your min price. you are a motivated seller (you have to get out). I predict a bidding war.
 
we actually just did something similiar.. we were selling our condo in a market with 18 units available in the same building so we basically listed firm with just enough to cover our 25% downpayment for the new house. Only $5000 lower than the lowest price unit, but $15000 lower than the highest. We sold within 6 days. The others have been on the market for 180 days min and only one for 24 days. I'm sure we pissed off a lot of our neighbors, but we didnt take that much of a hit under listing. And it was well worth it.

As our realtor said "We don't want to be in the game, we want to be above the game" When you have THAT much competition you have to make your place stand out. Price will do that. We listed our place last monday and sold it Sunday. So like i said.. we JUST went through this.
 
Originally posted by: TwinkleToes77
we actually just did something similiar.. we were selling our condo in a market with 18 units available in the same building so we basically listed firm with just enough to cover our 25% downpayment for the new house. We sold within 6 days. The others have been on the market for 180 days min and only one for 24 days. I'm sure we pissed off a lot of our neighbors, but we didnt take that much of a hit under listing. And it was well worth it.
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exactly, who gives a flying fart about your neighbors. You gotta move and you've set your min.
 
Whenever I move, my strategy to deal with neighbors who might feel my asking price is too low would be to say, "Please take up a collection and I'll be glad to raise the price by whatever donation you want to make."
 
Originally posted by: frankie38
If you are happy with 135k then list for 135k firm. No haggling. This will generate alot of interest from buyers that do not want to negotiate. You will attract more buyers whick may lead to a bidding contest that may lift your price above 135k.

Good Luck!
Click to expand...

if you list for 135k they will assume you really want 125-130. it's understood that housing prices will be negotiated.
 
Strange to see a buyer's market for RE.

Over here in the NYC region, its a total seller's market. Prices have gone up 30% for some places in the last 6-12 months alone.
 
Originally posted by: vi_edit
Well, my wife and I actually went and met with a realtor. She was referred to us from a good friend of mine. The realtor thinks she's pretty certain that she can get just shy of $143,000 for it. Plus if they can sell within the real estate group, they'll do a 5% commission. 6% otherwise. She's pretty certain she can sell internally.

Assuming 5% I'd actually end up ahead of what I was looking at getting for a FSBO. Getting rid of the headache of selling it outright will be nice since I might be in another state by then.

Thanks for all the suggestions and opinions everyone offered.
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sounds like she is just one of those "promise you the world before you sign the contract/put down a downpayment" salesperson. how can she be so certain that she can sell internally? who are these internal buyers anyway?? did she garantee the house will be sold by certain date or they will buy it from you? I am sick of salesperson that will promise you the world until they have your money, case in point, the furniture salesperson/owner told me they will deliever my furniture on a weekend for free or do whatever it takes to earn my business. And what do you know, once they have my money, they can't deliever on sat until I paid extra... watch out for sales people like that.
 
Originally posted by: Triumph
Originally posted by: frankie38
If you are happy with 135k then list for 135k firm. No haggling. This will generate alot of interest from buyers that do not want to negotiate. You will attract more buyers whick may lead to a bidding contest that may lift your price above 135k.

Good Luck!
Click to expand...

if you list for 135k they will assume you really want 125-130. it's understood that housing prices will be negotiated.
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not 5-10K negotiable. It all depends on the seller, but given that he priced it that low below the others it is not-negotiable. 135K firm. If I was the seller and somebody tried to low-ball I'd just say "ok, 138K then do we have a deal?"

many, many, many houses are sold without negotiation because the house is already priced right.
 
sounds like she is just one of those "promise you the world before you sign the contract/put down a downpayment" salesperson. how can she be so certain that she can sell internally? who are these internal buyers anyway??
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By internally she meant the buyers agent was a member of their realtor network. They have over 900 realtors in the area that are considered "internal". Any sale made through a buyers agent in their group would make for a 5% commission.

 
Think about taking back the mortage for a buyer (if you can handle it).

Setup a wrap-around balloon for 5 years.

What is the housing rental market there?
 

If I were a buyer, I would be asking, "why the fvck are all these people selling their townhomes" and leave the area as fast as possible...😀

seriously though, do you know why all your other neighbors are selling as well?
 
Originally posted by: spacejamz

If I were a buyer, I would be asking, "why the fvck are all these people selling their townhomes" and leave the area as fast as possible...😀

seriously though, do you know why all your other neighbors are selling as well?
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Some of it is because of the University of Iowa. This is the time of the year where medical/dental/pharmacy residents get their matches and are moving out of the area to wherever their residencies are. Three of us are in that situation.

Two others are moving because they bought bigger houses for growing families. The other I don't know. It was just bad timing on how it all worked out.
 
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