Thanks for the advice. I think we are going to take it off and try again next year.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It shows well! Clean, fresh paint, new appliances. The building was just powered washed and front door painted. We lowered the price once.
It's located in The Pinecrest community in Alexandria. Great Location.
I hate the idea of renting it out.
How long is too long to keep in the market and not selling?

Fresh paint? My god, you are so over priced, it reeks like the paint fumes.

Market is slowing week after week, and rates are poised to go higher when QE stops in October.

Drop the price as low as you could afford selling it (I mean afford to avoid bankruptcy; you may sell for less than you bought it for or less than you put in); if it is low enough you will attract the attention of the market and multiple bids will come in and you will sell for the true market price.

If it doesn't attract any bids, you are screwed.

What kind of an arm chair real estate agent are you? Good grief! OP, do not listen to this person. If it needs anything your agent will advise you. Do no listen to nasty OP above!!!

The condo has been on the market over a month. By not selling, it has the "stink" on it, and it was priced to high, which is why it did not sell. If they had priced competitively they wouldn't have to lower so much, but now they have to drop the price to spark interest. If they dribble the price down, they will follow this descending market down; if they don't have to sell and are okay being a landlord, AND CAN RENT CASH FLOW POSITIVE (which I doubt once factor in condo fee, etc), then they take off market, rent for a year and try again next year or whenever market for condos recovers. Condos right now are really weak, and there is a ton of construction in places like Tysons which is increasing supply.

Anonymous wrote:

Anonymous wrote:It shows well! Clean, fresh paint, new appliances. The building was just powered washed and front door painted. We lowered the price once.
It's located in The Pinecrest community in Alexandria. Great Location.
I hate the idea of renting it out.
How long is too long to keep in the market and not selling?

Fresh paint? My god, you are so over priced, it reeks like the paint fumes.

Market is slowing week after week, and rates are poised to go higher when QE stops in October.

Drop the price as low as you could afford selling it (I mean afford to avoid bankruptcy; you may sell for less than you bought it for or less than you put in); if it is low enough you will attract the attention of the market and multiple bids will come in and you will sell for the true market price.

If it doesn't attract any bids, you are screwed.

What kind of an arm chair real estate agent are you? Good grief! OP, do not listen to this person. If it needs anything your agent will advise you. Do no listen to nasty OP above!!!

Anonymous wrote:It shows well! Clean, fresh paint, new appliances. The building was just powered washed and front door painted. We lowered the price once.
It's located in The Pinecrest community in Alexandria. Great Location.
I hate the idea of renting it out.
How long is too long to keep in the market and not selling?

Fresh paint? My god, you are so over priced, it reeks like the paint fumes.

Market is slowing week after week, and rates are poised to go higher when QE stops in October.

Drop the price as low as you could afford selling it (I mean afford to avoid bankruptcy; you may sell for less than you bought it for or less than you put in); if it is low enough you will attract the attention of the market and multiple bids will come in and you will sell for the true market price.

If it doesn't attract any bids, you are screwed.

Mid-July is at the top of my personal "worst time to list" list.

What does your agent recommend? You might want to consider re-listing at the end of August.

It shows well! Clean, fresh paint, new appliances. The building was just powered washed and front door painted. We lowered the price once.
It's located in The Pinecrest community in Alexandria. Great Location.
I hate the idea of renting it out.
How long is too long to keep in the market and not selling?

Where is it and what is the price? It's hard to give advice without knowing these things.

Furthermore, all of the PP's saying to take it off and re-list in the fall - why? So OP has more competition?

Again, we really cannot give advice if we don't know where it is and the price point. If it's in Logan Circle and sitting it's probably over priced, not staged, not easily shown, doesn't have good photos, etc. If it's in Stafford where the average DOM for the current active condos is 75 days that's a different story.

I really think for me as a looker...pics are everything. price too, but pics! you need a lot...and they have to be spectacular. Then really look at your price!

What does your agent say about it not having sold yet? If lots of units are sitting, there's a good chance it has nothing to do with the condition of your unit, just that there isn't a lot of interest in the building. As I see it, you have three options:

1) Take it off the market and try again next year when perhaps conditions are better;

2) If you can swing the finances, rent it out and then buy elsewhere; or

3) Slash the price.

Lower the price. At some lowered price, it will sell.

rent it out

Agent here, first and foremost discuss this with your agent. The following general suggestions based on the limited information provided:

1. lower the price
2. consider cosmetic changes like cleaning, painting, staging, cleaning carpet, polishing hardwood floors, add a cheap kitchen backsplash -- if you have not already
3. offer a home warranty
4. offer one year paid rental parking (you do not say if you have parking)
5. was the unit professionally photographed?

There are other things you can do but best to discuss with your agent.

Who puts something on the market in July? Take it off and list again in September.

Lower the price? Stage it / add curb appeal / clean it?

My condo has been on the market for about one month. Very few showings.
Other condos in community have been sitting in the market for too long.
Suggestions, please!