travelover
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Mar 31, 2007
- Messages
- 14,328
So, I've had my house on the market for 45 days with only three showings. I reduced the price 5% and got 2 more showings right away, but no real interest and no additional showings.
Background - the house is a 50 year old colonial in a neighborhood with beautiful 1+ acre lots in a desirable suburb with good schools. Of the 33 homes in the sub, six have been demolished for 5000+ sq ft McMansions. A run down 1950's ranch two doors down was just sold on a similar lot as a tear-down. They got 93% of what I am asking, but mine is a well cared for and ready to move in, larger house.
I think my problem is that a typical buyer either wants to either buy a tear down and build their dream house or is disappointed in the amount of bling my house has for the price. It is hard to find someone that would be happy with an OK house and a beautiful lot after spending that much cash. (this is the rust belt and a housing buck goes a long way).
I don't have to sell, but would like to do so before the next crash. My dilemma is whether to just keep dropping the price until it sells or wait until that rare interested party shows up.
How would you decide?
Background - the house is a 50 year old colonial in a neighborhood with beautiful 1+ acre lots in a desirable suburb with good schools. Of the 33 homes in the sub, six have been demolished for 5000+ sq ft McMansions. A run down 1950's ranch two doors down was just sold on a similar lot as a tear-down. They got 93% of what I am asking, but mine is a well cared for and ready to move in, larger house.
I think my problem is that a typical buyer either wants to either buy a tear down and build their dream house or is disappointed in the amount of bling my house has for the price. It is hard to find someone that would be happy with an OK house and a beautiful lot after spending that much cash. (this is the rust belt and a housing buck goes a long way).
I don't have to sell, but would like to do so before the next crash. My dilemma is whether to just keep dropping the price until it sells or wait until that rare interested party shows up.
How would you decide?