1 showing in first week?!?!

illinois_nativeJune 4, 2012

So my wife and I just listed our completely remodeled condo in Naperville(2 B, 2 bath) 5 days ago. Since then, we have only had 1 showing...is it time to worry yet?

Its priced 1% below the market value and almost everything has been updated. New counter tops, new SS appliances, new wood floors, new carpet, new baseboards, new doors.....just about anything you can think of is new??!!!

I've done a search of condo's on our area and none are as updated as our but quite a few are priced over ours....what gives. I'm going crazy and I know some will tell me its to soon but everything I've read said a good property will have multiple showings its first week.

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wedeburn

my home has been on the market for 18 days.....3 showings.....tons of upgrades, priced low....very nervous too........would love to hear other peoples perspective on this

    Bookmark   June 4, 2012 at 6:07PM
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drybean

How are your photos on the MLS listing? Even if everything is beautiful and brand new, poor photos won't bring the buyers in.

    Bookmark   June 4, 2012 at 6:23PM
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jmc01

According to Baird and Warner's website, there are 315 condos, 2BR, 2 Bath, on the market in Naperville. With that quantity, yours had better be pretty darned special!

    Bookmark   June 4, 2012 at 8:50PM
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Sophie Wheeler

"With that quantity, yours had better be pretty darned special!"

Or priced pretty darn cheap. 1% below market value won't cut it if you want a quick sale with that much inventory. And, how exactly did you determine "market value"? Did you have a realtor run some number for you from sold properties? Including foreclosures? Or are you basing it off of the asking price of other units? Are you on the MLS?

    Bookmark   June 5, 2012 at 12:59AM
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terriks

I'd say YAY! You got a showing!

    Bookmark   June 5, 2012 at 11:54AM
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gbsim1

I'd be dancing with happiness if I were you. We had our lovely home on the market last year. Priced well, immaculate, small acreage, barn, pool, all upper end amenities etc.. We had 18 showings in the 18 months that it was on the market. It sold to the 15th showing. At one point we went over 2 months with no showings.
This was in Louisiana, and when they say the market is slow, trust me they mean it! Granted our realtors were screening calls since it was priced in a higher bracket and we weren't interested in "lookers" but still!

    Bookmark   June 5, 2012 at 10:04PM
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polie

If it sounds like the place and price are pretty much in the ballpark, then there's really nothing that would send crowds over. I think buyers still believe, rightly or not, that it remains a buyers' market. They want to see something that screams bargain.

That's not to say you need to slash your price. It's just to brace yourself for what could be a long time on the market before you find the buyer who falls in love with your place.

    Bookmark   June 8, 2012 at 8:50AM
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done_again

We sold a house late last year in Arizona in a pretty slow, down market. We initially priced the house in line with everything else in the neighborhood. After a month of little activity and the need to sell quickly for relocation, we lowered the price to about 10% below the others. A week after lowering the price we had an offer. Overall, we had about 4-5 showings in a 2 month period. We just assumed those that were looking were serious and made sure the house was as perfect as could be. It only takes 1 buyer.

    Bookmark   June 8, 2012 at 5:16PM
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AndrewButler

It's all about the luck my friend. But honestly, I don't think there is any need for you to worry. Things like that happen but always remember, patience is a pure virtue. You will have a good offer coming your way soon. Best & Regards, Andrew.

    Bookmark   June 14, 2012 at 12:26AM
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sistersunnie

On the market 51 days, only three showings. BUT got an offer on the third. Barring any major hurdles, closing in a few weeks. Only takes one, the right one, hang in there.

    Bookmark   June 14, 2012 at 3:37PM
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