House not selling
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Anonymous
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House was put in the market two weeks ago at a good price but so far only one private showing. Realtor is suggesting an open house this weekend (Memorial Weekend?!?) and we may lower the price soon.
Is a Memorial weekend open house a good idea? People are likely out of town? When should we lower the price? |
Anonymous
| Is your price in line with comps? |
Anonymous
| Memorial Day weekend is a terrible time for an open house. Schools have a 5 day weekend. |
Anonymous
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It may be a terrible weekend, but it also might not be bad. Why not give it a try if you're not getting traffic? You can also hold another open house at another time.
And I get having an open house is a pain. But the longer your house sits the harder it is to sell. |
Anonymous
| Also, as a PP asked, is the price in line with comps. What you think is reasonably priced might not be the same as the comps. |
Anonymous
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You only had one showing in 2 weeks, there’s definitely some disconnect between your price and marketing and what buyers are looking for. Is your price in line with comps? Is there something about your house or location that buyers are wary of (highway, planes overhead, etc.)? Are your pictures bad?
I wouldn’t bother with an open house Memorial Day weekend if you don’t change anything else. |
Anonymous
| OP here, the price is in line with comps but the neighborhood is changing rapidly. Most people in the area were middle class government employees and were laid off or moved away. Before the last administration houses were flying off the market in few days. Now there are in the neighborhood at least other five similar homes sitting for several weeks and priced below the market. Crime is increasing too (we went in few years from virtually zero issues to cars stolen, vandalism and lately even a shooting) |
Anonymous
| OP can you share the zip? |
Anonymous
If there are 5 other homes sitting for weeks “priced below the market” … that means they are priced above the market. OP you’re overpriced and they are too. Do ONE real, noticeable price drop, not a bunch of tiny price drops. |
Anonymous
I prefer not to but to give you an idea it is the MD side of the DMV |
Anonymous
This. Also, is there one relatively inexpensive thing you can do to the front to make it have more curb appeal? Like, pots filled with flowers on either side of the front door? Make sure the lawn looks well kept, including edging. Then upload the new look of the front along with the generous price drop. |
Anonymous
I was going to say this sounds like parts of Silver Spring that were always middle class feds but have recently become hotspots for lower income immigrants (nothing wrong with that either - American dream is for everyone). |
Anonymous
| It's too high |
Anonymous
Lmao — yes, there’s nothing wrong with that if you don’t mind not being able to sell your house for more than you paid |
Anonymous
| Open houses help sell homes - at least around metro DC. Many stay in town. Buyers are more likely to stay than travel. |