No One Is Even LOOKING At Houses.

Teresa T · 10-15-2008, 01:48 PM

My house has been on the market for a month. Not one looker yet. It's priced on the lower end of the market and is supposed to be in a good neighborhood. My agent said they are being very strict with loans right now.

Really?! When I was looking at real estate 7 years ago, they were giving out loans to everyone making minimum wage which pushed me into a house I knew I didn't want. But I was afraid I would be priced out of the market.

I'm switching the house to appointment only and having the lock box taken down. My cat is not taking it very well being locked in the second bedroom when I'm not home. Plus I'm afraid leaving the house without having the alarm activated. If things pick up then I would go back to the lock box but with no one looking......

I know it's only 2 bedroom which is an issue. 2 full baths. I noted the for sale sign had been vandalized yesterday. I'm surprised it took this long for that to happen with my neighbors.

Cricketlegs · 10-15-2008, 03:13 PM

No one wants to do any amjor moves with the economy going nuts--except my dh who wants to move in the next 6 to 8 months...he told me...I cried lol.

Teresa T · 10-15-2008, 05:53 PM

Yes. Everyone is scared, including me. Had I been able to take my time and look, I would have been able to find the house I wanted and stay in but everything was being sold sold sold. Actually I originally wanted a condo or townhouse but they were being snapped up before I could even look at them.

FrugalMomof3 · 10-15-2008, 06:05 PM

My house is on the market too here in NE Pennsylvania but it's only been on the market 16 days with 5 showings. We're having an open house on Saturday, wishing us both luck in the sale of our homes.

cheles2kids · 10-16-2008, 09:54 AM

Gosh, I remember how very frustrating it is, dealing with selling a home.
We *just* sold ours back in January of this year, it was on the market for 62 days, we had over 30 showings and 2 open houses.
Only two offers. Yes, two. The first offer was just laughable.

Unfortunately when we sat down with our realtor I was very realistic. I told them that we were priced to sell, because I knew that we had two options.
To sit on it, in hopes that we would make a small amount *or* we could sell it quickly.
We took the latter route. We still made some money off of it, we didn't give it away, but not nearly what we would have liked.

Our realtor didn't even want to list it at the price that I thought we should.
So we started out with her suggestion.
We had somewhere in the area of 6 lookers, when I finally called and told her we needed to lower it to our original offer, then the showings took off.

I was stressed beyond belief! But we did get it sold, thankfully.

I found that right now with the market the way it is, that if you have it listed and you do get showings, *and* you have it listed very reasonably, it's still not enough for some people.
They expect an even better deal, because of the way the market is.
But there are those that are already in foreclosure, that unfortunately they *can* get for almost nothing.
We actually lost an interested couple to a foreclosure, they had looked at our house twice and even brought their parents to look at it with them the second time. We thought for sure that they were ready to make an offer, but they decided to go with the foreclosure.
The kicker? It was just around the corner from our house.

I'll send thoughts & prayers your way that your appointments will begin soon and you'll have an offer before the holidays set in.

rainbowgc · 10-16-2008, 10:05 AM

I say you are better off to try and sell yourself. With so much inventory on the market a house with no RE commission attached may seem quite attractive because since you aren't paying the agent you can get a better price for yourself saving money for the buyer.

vigilant20 · 10-16-2008, 10:24 AM

Starter houses are going pretty fast. I just bought one and moved in last week

The first one I tried for I didn't get because someone offered more than the asking price after I made my offer! Those buyers are more mobile and don't have to worry about trying to sell a house in order to get into a new one.

As for loans, my loan officer told me that's only really for larger companies. I went with a credit union and they still have plenty of money to lend.

Greebo · 10-16-2008, 10:31 AM

What is it worth, what do you owe, and what are you asking?

FrugalMomof3 · 10-16-2008, 12:15 PM

As for our house, we owe $107K + $14.3K to the city for their rehabilitation work... so a total of $121,300... we put our house on the market for $159,900 hoping to get alteast $150K BUT our realtor fees is 4.5% + a 1% transfer tax and document prep, etc... about anther $500. So we arent making much BUT we would be willing to go down even a bit more as long as to net $15K to put as a down payment on another home.

Teresa T · 10-16-2008, 01:43 PM

Thanks so much for your replies and words of encouragement everyone! It helps.

I owe quite a bit less than what the house is on the market for. 3 Reasons: I bought in 2001, I put 20% down and I never refinanced. I'm willing to lower the price or look at an offer.

I have not had even one looker in a month! The house is in Northern California. It's priced on the lower side of the market being 2/2. Good first home for the right person (large male on the premises)

The agents have been doing their walk throughs this morning and I have heard good comments: "open. bright. nice master. nice yard."

Oh another problem. The agent has it listed on the MLS and Realtordotcom as 115 square feet! I have asked her to change it twice. A friend from work just called me to say she had noticed it and thinks this is a major problem as people do search by square footage and mine will never come up. My house is actually >1100 square feet. Grrrr.....

Greebo · 10-16-2008, 01:49 PM

Why are you selling? If you NEED to sell urgently, cut the price.

And call your agent and tell them, Fix the listing, or pull it and I'll hire someone else.

Mochashello · 10-16-2008, 04:41 PM

Yeah, don't let them string you along. It only takes a minute for them to log into the mls and make that correction.

I agree to switch to appointment only, at this point that seems reasonable.

Your realtor should be doing more than listing it in the MLS though. Are they holding open houses on the weekend? Are they seeking buyers to bring over and show the property to? Or are they just posting an online ad and sitting on their duffs waiting for their commission check? They should be working with buyers and buyer's agents to get people over to see the property. Make them earn that commission, or switch realtors. Or even consider going with Help-U-Sell to save even more money.

Cricketlegs · 10-16-2008, 04:52 PM

People are looking at the house across the street right now but geeze $143.000 in this STARTER house/ retirement house neighborhood makes me howl with laughter.

Sure it is a little bigger than mine with a double lot but gosh..$90 to $100.000 would be better to the mark.

I mean I like it here and I love my little house payment but we recently have young men with their pants around their ankles butt cracks ablazin' wearing the EXACT same shirts in the same colors.

Can you say GANGS!

Yup dh wants to move and I am going to have to move too.

LynnLC · 10-16-2008, 06:15 PM

Quote:

Originally Posted by FrugalMomof3

As for our house, we owe $107K + $14.3K to the city for their rehabilitation work... so a total of $121,300... we put our house on the market for $159,900 hoping to get alteast $150K BUT our realtor fees is 4.5% + a 1% transfer tax and document prep, etc... about anther $500. So we arent making much BUT we would be willing to go down even a bit more as long as to net $15K to put as a down payment on another home.

I live in MA and $121,000 would get you a closet w/o a door. Condos in this state start at 250,000 and up.

Teresa T · 10-16-2008, 07:24 PM

Gosh cricketlegs, that sounds awful. I guess I should be grateful that this area is considered a good neighborhood.

I don't need to sell urgently but I have made the final decision to sell and so I'm anxious to go. I want to rent for a time. I have some nasty male neighbors and I don't feel like I can leave the house. I have not gone on a vacation in the 7 years I lived here.

I hate yard work. I never really wanted a house. It's too much for a single female. I would have been better in a condo.

That 115 square foot issue is really getting on my nerves. The agent said once she puts it in the data base than it's hard to change. I get the feeling I'm being told here that that is NOT THE CASE. Thanks, I may need to pull out that ammo!

Actually I just thought of something. I noted a near by house had their price reduced on the realtordotcom site. So how did they do that!!!!!