Having a tough time selling my mother penetrating house.

[robzilla]

My house has been on the market since June. I have lowered the price twice. Now, it's one of only a few houses for sale in my whole neighborhood. It's a smaller house on a massive lot.

I already have a new house. Should I move to the new house and leave the old one vacant? Should I stage the old house?

[TheGoldenGoose]

become a slum lord... rent it

[tenbas]

Renovate DIY style, it's +EV

[CountNo_Account]

Using an agent or trying to sell it yourself?

[robzilla]

Using an agent or trying to sell it yourself?

Using an agent right now.

[robzilla]

Renovate DIY style, it's +EV

Its already reno'd.

[robzilla]

become a slum lord... rent it

I dont wanna deal with tennants... Plus, 1000 a month is not even worth it right now.

[MJT1212]

This is coming from a finance guy...

DON'T sale in this market unless you have some high interest debt you need to pay off or unless you're in a dire financial situation...

Move into the new one and keep the old one...

Best idea would be to rent it out but if not still don't settle for a rock bottomi price...you'll regret it in 3 years flat....

Look at keeping the home as earning thousands per year b/c that's how much value it should appreciate over the next few years as it's value climbs closer to tax value...

[CountNo_Account]

Lotta people don't want a massive yard to take care of these days. Light a fire under your agent. It is their job to sell your house.Offer warranty and other incentives. Def move out and stage it. Houses show much better when not occupied.

[Boner_18]

Drop the price. It's only worth what someone is willing to pay and obviously it's not worth what you have it listed at. Cut your losses, set aside your emotions and price it to move.

[keyboarding]

Rent it out to a young broad for cheap.

God bless.

[TheGoldenGoose]

Jewish lightning.

[CollegePro]

This is coming from a finance guy...

DON'T sale in this market unless you have some high interest debt you need to pay off or unless you're in a dire financial situation...

Move into the new one and keep the old one...

Best idea would be to rent it out but if not still don't settle for a rock bottomi price...you'll regret it in 3 years flat....

Look at keeping the home as earning thousands per year b/c that's how much value it should appreciate over the next few years as it's value climbs closer to tax value...

are you sure about OP regret in 3 yrs?? I really don't see housing market goes up much in 3 years.... housing markets already hit the top.

[robzilla]

This is coming from a finance guy...

DON'T sale in this market unless you have some high interest debt you need to pay off or unless you're in a dire financial situation...

Move into the new one and keep the old one...

Best idea would be to rent it out but if not still don't settle for a rock bottomi price...you'll regret it in 3 years flat....

Look at keeping the home as earning thousands per year b/c that's how much value it should appreciate over the next few years as it's value climbs closer to tax value...

Good advice. Dont really want to carry 2 houses. I thought my house might be on the market for a month or 2... I never thought it would take this long.

[MJT1212]

trust me, all houses will be worth more in 3 years barring a natural disaster of epic proportions (december 21st in some peoples eyes) or another massive terrorist strike....both possible but i'm the gambling type and would keep the house...

the value cannot drop lower than this rock bottom we're already at...economy is set for a come back over the next few years

[freeVICK]

fire ur agent

[no1here]

your expectations are to high. 2 months is not to long to be on market. I have never use an agent and never took longer then a week to sell. You must do your part checking out whole area for prices now listed and SOLD. Know exactly what price is right for your house to sell immediately or listing it which would be two different figures. Put ads in local paper having open house yourself. People don't like doing repairs. Move out and have the place looking good.

[str]

I don't know where you live and therefore have no idea about your specific market.

I buy properties all the time.

I am a custom home builder in the Md. area.

PM me if you want some help.

Best of Luck.

[Boner_18]

trust me, all houses will be worth more in 3 years barring a natural disaster of epic proportions (december 21st in some peoples eyes) or another massive terrorist strike....both possible but i'm the gambling type and would keep the house...

the value cannot drop lower than this rock bottom we're already at...economy is set for a come back over the few years

If it ain't at 0 it can go lower. What fundamental signals point to a recovery in housing? The size the REO shadow inventory alone is enough to suggest at least a standstill, if not another dip.

[marcoloco]

Houses dont sell well at the end of the year. If you can be patient it will sell by 1st part of the 2013. Have you had any interested buyers?

[Nut_Flopper]

Pretty much what most people said. During the Holidays is the worst time of year to sell, market is pretty dead. Since your still living their are you making easily accessible for potential buyers?

Price is the main dictating factor if there are no extenuating circumstances. If there are no major issues then you are priced too high. Good condition? Anything you are leaving out like a train that runs behind the house or electrical towers etc. that would discourage people?

I don't foresee a huge jump in the market in the next 3 years. I have been waiting for the "shadow inventory" to drop for years but I don't see that happening soon either. Best bet is to move out and rent it. It's not that much of a hassle and wait for a better time like late spring.

[robzilla]

Houses dont sell well at the end of the year. If you can be patient it will sell by 1st part of the 2013. Have you had any interested buyers?

About 4 second showings, and 1 low ball offer.

[bettilimbroke999]

Sounds like robzilla's racing to move out of a small dump and wants to sell it for top dollar in the worst housing market in a century...GOOD LUCK!

[crustyme]

it'll take 30+ years for prices to return to pre-2006 levels thanks to republicon assholes and their banking deregulations.

i have several properties sitting around unsold for years. the problem is banks are not lending money and the cash buyers want it practically for free.

either ride it out a few years until market improves, offer owner financing or maybe even do a swap like for a vacation property or cars/boats/jewerly.

[tad0matic]

even if the housing market doesn't rebound in the next few years the hyper inflation that's coming would make you glad you held it. When the dollar is worth less, only appreciating assets like metals and real estate can keep up.

Have you talked to any property managers in your area? They will deal with the renters for you and usually skim 10% of the rent payment. there is a chance of a shitty manager who'll let anyone move in just to dip into your money, check references.

[robzilla]

Sounds like robzilla's racing to move out of a small dump and wants to sell it for top dollar in the worst housing market in a century...GOOD LUCK!

Its pretty far from being a dump, but ya, Id like to get rid of this place.

[bettilimbroke999]

Its pretty far from being a dump, but ya, Id like to get rid of this place.

Its either A) a dump B) in a neighborhood that white folks wouldnt be caught dead in, I live in a city called Memphis where about 3/4 of the city is blacker than Africa and of course no one is racist but for some reason those non-racist whites would commit suicide if they had to live with the blacks C) overpriced or D) all of the above

Since you're getting basically no offers at all my guess would be D but any of the 3 examples is going to keep it from being an easy sale. Look if you want to get rid of it fast find out what its worth on zillow.com deduct 10% if its in a white neighborhood and 60% if its in a black neighborhood and youll sell it within a month, you dont even need to waste 6% (which will be thousands of dollars unless this is a trailer or something) for a real estate agent, essentially the price sells the home in today's saturated market as theres far too much supply compared to demand so the agents just gonna keep tellin you to Jew down the price then penetrate you in the ass for her 6% commission when you get down to what you could sell it for right now and the process will cost you a year of mortgage payments

[str]

Nobody wants to hear this but... areas of Wash. D.C. and suburbs like Bethesda Md. are all the way back and in some spots slightly more than they were in 2007.

Unbelievable but indeed true.