Why No Offers?

kleobeeMay 10, 2011

My house has been on the market for 3 weeks and 15 people have come to see it. 3 people have even come back for a second look.

I know 3 weeks is not a long time, but I feel that 15 people is a lot to come through the house in that amount of time.

It's discouraging to not get any offers yet.

My Realtor has given me some feed back as to why some people did not want to buy. One said the master was too small, one decided to buy in the country rather than town, and two wanted a deck.

The first two reasons I could do nothing about, but as for the deck.. couldn't that be negotiated in the price? Why did the buyer's not ask?

Anyway, here's the house ad for www.mls.ca MLS�: 00931405

The photo's are a little old, so when the people show up, the house actually looks better. The kitchen phone is hung on the wall now, there are curtains up on all the windows and the bathroom ceiling is fixed.

Any idea's and feedback would be appreciated. Thanks!

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logic

The link does not work.

    Bookmark   May 10, 2011 at 3:32PM
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Billl

"It's discouraging to not get any offers yet. "

Welcome to 2011. Most buyers are taking their sweet time and really bargain hunting. If you keep getting this many showings, you will get an offer though. It is just a matter of time.

    Bookmark   May 10, 2011 at 3:57PM
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teched

Do other houses for sale in your locale at a similar price point have decks? If so, your price is too high. We just sold in one part of the country, and we are trying to buy in another part of the country. From my experience in the last month or two, if your house does not sell in the first week, your price is too high. In my neighborhood, three houses sold quickly (including mine). One was still on a week later. She dropped the price 5% and immediately got an offer.

As a buyer, I am only looking in a certain range. The seller might be willing to negotiate 10% or more off the price, but they are just as likely not to budge, so why waste time writing a contract? I am literally looking at houses online that are priced $200K over comps and sitting on the market. Do your own research about the local sales likely to be used for appraisal. Trust me, buyers are doing that.

    Bookmark   May 10, 2011 at 5:19PM
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badgergrrl

I agree with teched, you're probably overpriced.

What they say:
The master is too small... there isn't a deck...

What they're not telling you:
Compared to other houses in this price range.

Ask your agent for comps on what has sold in the last 6 mo in your area. They are what you want to look at, as they are sold - which is your goal, so they must've done something right. Current comps help a little, but could also be overpriced, so take them with a grain of salt.

Sure, your house might and probably will sell at the price it is - someday. Ask yourself how badly do you want (or need) to sell?

    Bookmark   May 10, 2011 at 5:29PM
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Carol_from_ny

If the price was right a deck could be added on no problem and the new owner would get exactly what they wanted.
What you are hearing are lame excuses because no one wants to be the bearer of bad news. You're over priced for what you are offering.

    Bookmark   May 10, 2011 at 6:32PM
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brickeyee

"You're over priced for what you are offering. "

Most likely.

    Bookmark   May 10, 2011 at 7:50PM
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kleobee

In reply to "logic": I didn't post a link, I just posted the mls number.
In reply to others: thanks for your input, but did anyone actually look at the house?
I bought my house for 140 two years ago, and put 30 into it, so although it dosnt have a deck, it has been totally gutted and redone and I don't want to lose money on it. There's not really many houses for sale in our price range right now... I've found that most of the houses that are selling are the newer ones.
My realator assures me that it will sell... but I guess we'll find out soon enough.

    Bookmark   May 10, 2011 at 8:22PM
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graywings123

I bought my house for 140 two years ago, and put 30 into it, so although it dosnt have a deck, it has been totally gutted and redone and I don't want to lose money on it. There's not really many houses for sale in our price range right now... I've found that most of the houses that are selling are the newer ones.

What you paid for the house two years ago, what you put into it, and your desire not lose money are not relevant to its value today. It is worth what someone is willing to pay for it.

Here is a link that might be useful: Is this it?

    Bookmark   May 10, 2011 at 9:02PM
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ottawavalleygardener

If graywings has posted the right link, no wonder people think the master bedroom is too small. That bed totally overwhelms the space. Is it possible to replace it with a double (if the existing one is queen)? At least, remove the four-posters.

Looks like a nice clean updated house. I don't know the market in Oromocto - is there still an army base nearby? Being that you're in Canada, I doubt there are foreclosures to compete with, which is good.

    Bookmark   May 11, 2011 at 7:36AM
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teched

I bought my house for 140 two years ago, and put 30 into it, so although it dosnt have a deck, it has been totally gutted and redone and I don't want to lose money on it.

Yup, I bought my house for $660,000 6 years ago (not a high price for our neck of the woods). It was appraised for $700k. We gutted 3 bathrooms, replaced windows, gutted the kitchen, and remodeled the basement. DH thought we should list for at least $800 to recoup our expenses. However, the most recent sale was for $610 on the same model. We have to move due to a transfer, so we sold for $642 and a rent back for 2 months. Foreclosures are not bringing our market down, that's just the market. Home prices are down, period. If you can stay in your house, do. If not, you will need to accept the market for what it is.

Here is a link that might be useful: Biggest Home Price Drop since 2008

    Bookmark   May 11, 2011 at 9:11AM
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teched

Could not find your home on the MLS. If the link posted by graywings is correct, I would say curb appeal is holding you back. Foundation plantings, painting the front steps, and some additional landscaping would go a long way.

    Bookmark   May 11, 2011 at 9:15AM
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hayden2

kleobee, your house looks very nice, neat and clean. I hope you sell soon. After looking at the pictures,a couple of things come to mind that you might try:
1) the chandelier over the dining table is not actually over the table. It looks off. could you swag it over? Instead of space for a table, it looks like you had to push the table over into the corner, and the chandelier placement enhances that feel.
2) You have two fireplaces, right? they don't jump out, though, because the couches are very large and dark. When I first saw the living room, I saw the furniture first, and only later saw the fireplace. The picture over the couch is also hung too high. You might think about getting slip covers for the furniture in a lighter cover, and put the picture over the fireplace mantel- anything to draw attention to the fireplace, and away from the furniture. In the red room, I would take out that large black couch, or, if possible, remove part of it if it is a sectional.
3) In the single bedroom, the bed should be moved away from the wall. I would place it under the window, then frame it with some nice window to floor curtains.
4) A previous poster's suggestion that you put in some foundation plantings is a really good idea.
5) Could you paint the front door and the front steps? When you look at the picture of the front of the house, the main thing you see are the steps. It might make it look more inviting to distinguish the door, maybe with the door & mailbox painted a darker color, and with two bushes flanking the stairs. I's also suggest shutters on the windows, but that can cost too much money.
6) Could you repaint the red room? It's a nice color, but a bit dark, particularly given smaller windows. In fact, the house looks dark in general. I only saw ceiling lights, then a small desk lamp in 2 of the bedrooms. For a nice, warm feeling, you need to have ambient light, which means light coming from different levels.

Please forgive me, but you did ask why no offers, so I am only offering suggestions for tweaking an already nice home. The suggestions I have don't cost much money, and maybe other posters will weigh in.

Best of luck!

    Bookmark   May 11, 2011 at 9:59AM
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kleobee

The link that graywings posted is my house. Thanks for posting the link.
ottawavalleygardener: There is still an army base here and we're selling the house because we're being posted to Ontario (we're military). We weren't expecting to get posted so soon as we've only been here for 2 years.

I am planning to bring up the curb appeal once the risk of frost is gone and it stops raining so much. I'm also making a patio area using patio stones. Same goes for the steps. I bought stain for them in a darkish colour but I need 3 consecutive days of sunnyish weather to do that, and there hasn't been 3 days in a row yet since winter...

I appreciate the suggestions and I'll let you know once I've fixed up my outdoors.

    Bookmark   May 11, 2011 at 11:22AM
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valkyrie4791

We spent nearly years on the market, which isn't uncommon in my area--so when I hear people wondering why no offers after a few weeks, I marvel at the differences in the home selling experience from place to place.

I think that pretty much anybody who is trying to sell a house right now has to concede that they aren't going to get what the want out of the property. When I've compared the seller's starting point to the actual sales price, I've noticed people coming down 10s of thousands of dollars off their asking prices to get the sale. When I realized that, I adjusted what I thought I could reasonably expect for my home (NOT what my home is "worth" because that is an entirely different subject and much more subjective than one might think) and adjusted my sales price to try to get in the next lowest tier of buyers.

I suggest you research that kind of information. Find out in your area the beginning asking price and compare to selling price. If you're seeing a lot of difference, chances are you are too high.

    Bookmark   May 11, 2011 at 11:34AM
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kleobee

Does anyone know if and how I can research properties sold in my area without going to my realator? Can I find this information on the internet?

    Bookmark   May 11, 2011 at 2:11PM
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Happyladi

I see a lot to like in your house. It looks clean and well taken care of. Just a few small changes could help.

Could you take off the headboard and footboard of the bed and center it under the high window? If necessary you could buy a new bed frame, they aren't very expensive.I think it will make the bedroom look much bigger.

I agree about painting those dark red walls, I suggest a color similar to the master bedroom color.

Paint the front door with a color like a dark red or green and add some shrubs and flowers to the front of the house. Putting the phone on the stove looks odd, at least remove it for the picture or better put a small table there for it.

    Bookmark   May 11, 2011 at 3:05PM
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badgergrrl

Not sure about Canada, but in most cities/states in the US, sales price is public information. Now, that doesn't say what the original listing price was, nor does it show any incentives given (closing cost credits, etc.). Realtors have access to other information about homes and sales though.
Why wouldn't you want to have your realtor get this information for you? It is part of their service.

    Bookmark   May 11, 2011 at 3:07PM
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Happyladi

Is there Zillow and Realtor.com in your area? Those can show other houses for sale so that you can compare but I'm not sure if they are in Canada.

    Bookmark   May 11, 2011 at 3:08PM
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ottawavalleygardener

kleobee, where in Ontario are you being posted? You're going to get sticker-shock if it's Ottawa or southern Ontario. Prices are very high - no down-turn in the market here!

Zillow is not here - as far as I know, only Realtors have access to the Sold #s on MLS.

    Bookmark   May 11, 2011 at 3:52PM
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kleobee

Well, I don't have a problem asking my realator, but I like to use the computer myself when I want, and look myself rather than have to look over someones shoulder. I use www.mls.ca to look at the houses for sale in my area, but that site dosn't tell me what has sold in the area.
ottawavalleygardener, we're being posted to Trenton, but are planning to live in Oshawa so I can attend UOIT. I've looked on the mls at houses in Oshawa, and all the ones I've seen in our price range are very old, out dated, and look like they need a lot of work.

    Bookmark   May 11, 2011 at 8:20PM
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ottawavalleygardener

Oshawa is pretty far from Trenton - 113 km - and it's more expensive than going the other way... Belleville, Napanee, or even Trenton itself. If hubby is posted in Trenton, have you considered buying there, and commuting to Oshawa, rather than the other way around? We have friends in Oshawa, and there are areas you might want to avoid especially if you have kids. Mostly a nice community though. Good luck with your sale, and Welcome to Ontario! :-)

    Bookmark   May 11, 2011 at 9:25PM
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kleobee

The problem with commuting is that I have to rely on public transit to get me to school and my 3yr old to daycare. The Go Train begins in Oshawa and travels west/north, it dosn't go any farther east. Does trenton have a city transit? I couldn't find one online.

    Bookmark   May 12, 2011 at 9:09AM
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kleobee

So, I did do some work to my yard and I got rid of my realator and found one that I liked.
It took a while but my house finally sold last week for $174,500
Trenton here I come ;)

    Bookmark   August 14, 2011 at 10:38PM
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ottawavalleygardener

Congrats on selling! Did you buy a place yet?

    Bookmark   August 15, 2011 at 7:56AM
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Happyladi

Thanks for the update, that's great news!

    Bookmark   August 15, 2011 at 10:48AM
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LuAnn_in_PA

Glad you updated... congrats!

    Bookmark   August 15, 2011 at 1:58PM
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LoveInTheHouse

Another one bites the dust, lol.

Congrats!

    Bookmark   August 16, 2011 at 12:41PM
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