Why wont my house sell?

15 Replies

This is one of my flips. But we just cant get it to sell. This house is completely remodeled very nice, quiet upscale area. We had lots of showings and some offers. We got a top rated realator also. It just wont sell. Summers begging to end so im sure were gonna have less people looking at it. What can we do to make this home sell? The feedback were getting is the pool is to small, theres not enough bathrooms and the masterbedroom is upstairs. Which really arent things we can fix. Tell me what we can do. The listing is here http://www.zillow.com/homes/for_sale/62666793_zpid/28.183953,-82.656983,28.18009,-82.663952_rect/17_zm/0_mmm/?view=map

I will say this with the caveat that I do not know your market. 2nd floor master bedroom is killing you. You're pricing at the top end of the neighborhood so it's going to be difficult to get that price anyways even if you have the worlds best agent. Based on the pictures of the other homes in the area the only thing justifying your price is the larger square footage, but the finishes look comparable to other homes that are noticeably cheaper that also have more bathrooms. Staging can be very important especially in a home that big so it may be worth renting some furniture. It's hard to imagine a space when there is so much of it so helping the buyers see that could be beneficial. Overall though it looks like a nice place.

Lots of showings and few to no offers, means you are close, but still over priced for what the market wants.  As you said, you can't change the lay out, so price is goi g to be the issue.

Yeah I would second @Dan Mackin here, to sell a home at that price point with that much space you almost have to stage it, and looking at comps you are priced WAY above the other comps, you may even have the highest list price within 2 miles, so that is hurting you. Also don't know the market so take it for what it's worth.

Well one of the problems is that this community has quite a few forclosures and thats whats messing us up. 

If it won't sell, it's a mismatched value proposition. The market might be adversely affecting it, but it almost always comes down to price.  People are choosing other properties instead of yours because they are getting more for what it costs them. 

Price cures all.  If you are priced the highest in the neighborhood, it does not matter if your house is nicer and bigger than everyone else's.  Staging may help but people have a mindset that neighborhood x is only worth x amount of dollars.  I see flippers in my market make this mistake all the time. You just have to come down to the price that will move your house in your market.

I am a firm believer that 99% of what sells a home is price, and like others have said your home is on the high end of the neighborhood and that's what I would attribute it to. Drop the price a little and offer some incentives?

we currently are offering a realator bonus incentive of $5,000

That $5k may generate more showings, but the Buyers aren't biting at that price, which is all that matters.

Why not drop the price 5k instead...

Was the whole home renovated?  If so, it was included in your description of the home.  Any novices may look at the Zestimate price which $303,xxx.  Did you do a Broker's open to get it priced right?  You may have overdone the renovations for the neighborhood and YES YES YES to hiring a Staging company.  Right now the house is cold so warm it up and make it cozy with staging.

Maybe it's better to go with a less expensive Realtor.

You might want to consider selling under a lease option unless you need your money now.

Char

Drop the price, stage it, and have a broker's open. Your buyer is out there but they aren't biting at the current price. $5k buyer's agent bonus for the most part just gets the used car salesman type of agents showing your home pitching their clients about how beautiful the finishes are.

Thanks for the advice everyone. I am going to lower teh price 10k and see what happens. Ill look into staging also. 

The house looks good , but on zillow , everything close looked to be 40K less . Its always hard to sell the most expensive house in the neighborhood

STAGING!!! & price.

The last three homes we did were staged and priced very well.  They all sold in less than 1 week and 2 were multiple offers and the last was full price, 1 day on market.

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