BiggerPockets

My house has been listed on the MLS for about 5 weeks, and on Craigslist and a number of other sites for the same time. There have been few calls from realtors, One rejected offer, and only a few from internet sites.
I just had the house inspected by a certified, licensed, inspection specialist. He found only a few things wrong. All have been repaired except one, and we had to get material for it. That will happen Tuesday.

I'm preparing for a 5 DAY SALE at the beginning of August, but so far there has been no response to my ad.

Pre-inspection is one of the suggested items. In the 5 DAY SALE, people can have some assurance what they are bidding on is in good condition, as well as looking good.
I would make the repairs if I were keeping it, and I might, to rent out, if there are no calls.

If there are no calls, I have to decide to take it off the market (such as it is) and rent it, or, rent it while trying to sell. difficult I know, but it's getting time to do something. Very little is moving here.
Today, I will call rental agencies to send packages to me, as well as brokers who do both rentals and sales.

I am disappointed: I really do want to sell it.

Ofgift

Thanks Ted. I understand what you are saying. This is AZ, one of the hardest hit bubble markets, but Tucson, not Phoenix. Still not good for sales, and there is some expectation of foreclosures to come onto the market relatively soon.
After I posted that, I realized it's been on the mls only a month, Not long for this area today. I'll have to look again, seems DOM in my area is about 90-115 days.
It's just that this time of year is historically our strongest selling season.

When I listed it, it was with the help of recent comps, and it's in a range that interested people could make reasonable offers. The one I turned down was way not reasonable, AFAIC. Seems like everyone's holding their breath.

I see my neighbor dropped HIS price 2 weeks ago to 500 less than mine, and his is 200 sq feet larger. He is listing it now as a 3 bedroom, and unless they enclosed the den, it's a 2 bed + den. His has been on the market for about a year.

Ofgift

Ted has a pretty good answer, but if it was me I'd open up to a larger pool of buyers by offering it lease option or land contract. Wait a little longer though you may yet find a conventional buyer. Herbster

Hi, Paul, thanks for the suggestion. I'm advertising an open house for the first of August. Bidding to start way below market value. There has been only one response to the ad.

I did get my "pre-inspected" note onto my mls ad, in fact the lister put "HOME PROFESSIONALLY INSPECTED" and it was, by one of the few state licensed companies here. The summary report is taped to the kitchen shelf.

A realtor called about it today to show it at that time, and asked about the inspection. The few items have been taken care of except one, and we didn't have the materials for it. It will be done Tuesday.

I also made the agent the offer I asked about elsewhere, to offer either a bonus or a one day sales contract for an acceptable offer, her choice.

I won't do lease option. I don't know enough about it, and what I do know, that's not my cup of tea.

Ted said, "your neighbor's house being on the market over a year in the same price range is worrisome but hopefully your home has some qualities it does not. "

I don't want to drop my price just yet, but I am making it clear that I will consider all reasonable offers.

they are the same age, his is 200 sqft bigger, but still I think mine is nicer. His is two bed and den, mine is 3 beds. He has AC, I have a year old cooler, and the electric co says that is the most efficient cooling method, AND I have a one year old roof. His roof will have to be replaced soon.
It will come down to individual taste.

Cross your fingers, toes, and eyes for me, that these folks make a good offer.

Ofgift

She didn't show the house...

Originally posted by Jon Ernest

The problem with an unsold house can be boiled down to three things, Price, Pitch, and Presentation. So I'd lean towards Paul's suggestion of being aggressive with the price..

Hi, Jon, Thanks for your response. I had one offer which was way low. I countered, and they said no. I talked to two agents later, both agreed the offer was low. Sometimes now, I wish I had jumped at it. :cry: too late smart!

Originally posted by Jon Ernest

I'd re-evaluate the current market price, find out the % difference between average list price versus the average sale price in the area. Then take the newly evaluated/market price, and subtract the difference between the average List Price and Sales Price. Then take off another few thousand bucks for good measure..

It's time.

Originally posted by Jon Ernest

Also, I'd like a little more information from the situation. You have it posted on MLS, but you are getting the calls. Do you have it listed with an agent? Or are you doing an "Entry Only" listing?

It is on the MLS via a flat fee listing. Agents see info to call me in their "agents only" website, and when buyers call the listing agent, the lister directs them to call me.

Originally posted by Jon Ernest

It sounds like you might still be living there, if this is true, is the place cluttered?

No, not living there, and the house is-has been empty for months. It's spit-shined and painted. Just last week had it it inspected by a state licensed inspector, and his few suggested repairs have been made but one, and we hope to do that tonight.
Looks good inside and out. If you go to "properties" and search for "Fruit Tree" in properties, you'll see my BP listing.

Still, it's been only a month on the mls, and standard now is 90 to 115+ days.

Again, I appreciate your suggestions. Thanks.
Ofgift

Again, thanks. I have 3% co-op both on the mls listing, and on the sign in front of the house.
I thought I'd also offer a 1% bonus to agents that call to show it.
OR, would you suggest that I just make it a 4% commission for an offer I accept, or a full/near full price offer?
Ofgift