I hesitate to post here but I love reading this forum so I will whine here tonight! Our house has been for sale for over 3 years with 6 months off last summer! But, the first 2 years not one house sold anywhere near our price when the market had tanked. Our market has rebounded this spring. I know that price is everything on this forum and yes, it can always be lower but I doubt I could go low enough to change people's minds about the layout. (BTW, I'm starting to hate that word!) All comments from lookers and realtors have been that it's priced right and shows beautifully but they just don't like the layout for them. We are priced at or below sold prices of the comps that have sold. We have a cape cod style house on full basement while most of our comps are split levels because there aren't any other cape cods that have been for sale near our size or in our area. We mainly use sq. footage and number of bedrooms to find comps. Other than style of house, it's pretty typical of what you'll find in our price range. It seems that most of the people who have passed up our house have chosen a split level. We have an extremely low buyer pool to make matters worse. I've talked to many realtors in our area and they they've agreed that rezoning of the school boundaries hurt us. Essentially, there's a good half of our city that will not move to the other side which we are now on. That issue was already factored into the price.
There's nothing wrong with our house, it's updated and has a great location. I realize that I can lower it a little more but we aren't desperate to sell for financial reasons, we just need a bigger house for our huge family. If I go any lower, we won't be able to get into a house anyway without the equity we need for a down payment. People have always complimented our home. It's just frustrating because we can't change the layout.
A little bit about our market too. Staging is not a common practice here. Houses will sell here regardless. Neither are fancy kitchens or bathrooms, especially in my price range. We don't have a lot of inventory in my price range but there is always that one split level that people like more than mine. We had a buyer once but it fell through because they found a split level down the street that had just gone on the market. They had loved our house for a long time too!
I'm just venting, I know I can't do anything but wait, it just stinks having the less common house design here. We have a very unique market as opposed to a big city. I'm so tired of showing a house with 7 kids and half my stuff in storage.
For what it's worth, I'm not emotionally attached to this house, but I have to be realistic about price. My realtor is doing what he should and we get the showings. My price is $244,000 for 2600 sf on a 1/2 acre in a great neighborhood. We've reduced it enough to cover market conditions and age and the school district issue.