We put our 5 yr old home on the market 9 days ago. We had 1 request for a showing right away and an open house the 1st weekend. Only 1 person came to the open house. There are about 10 homes in neighborhoods likes ours that are very comparable to our home whose asking prices range from 229,000-250,000. We are asking 235,000 and have a few bonuses that other homes don't have: cul-de-sac location, 3 car vs 2 car garage, walking distance to a lake and the elementary school(but not too close-3 blocks). I feel that's a reasonable price, based on what others are asking. However some have been on the market for many months now, so maybe they're overpriced. Or maybe there's just no one buying in this price range right now.
DH seems to think we should lower our price right away to get more people to look at the house. I said I don't think lowering the price to 229,000 will attract any more interest than 235,000. What do you think?
We owe 222,000 and realtor and closing fees bring the final "cost" to close to around 230,000. Knowing that people are likely to offer less than the asking price, I don't want to lower the price. We have some money we can put in if we have to to get out, but absolutely can't let it go for less than 220,000.
We may have unrealistic expectations for selling times based on the previous 3 homes we've sold. Two were sold before the "For Sale" sign was in the yard. The other had a PA within a month and closed within 2 months. However those were different times and the houses were less expensive.
What can we do and ask our realtor to do that will increase traffic through our home? I've worked really hard to make our home look great--packed up boxes of stuff and taken to storage off-site, bags and bags to donate and trash, cleaned like I've never cleaned before, including scrubbing the outside of the house, organizing all the closets, re-arranging furniture to make the rooms appear as roomy as possible . . . It's frustrating that few people are looking!
Part of my rush is that I'm a teacher and return to work the week after next, so any work that must be done is best done now!! If we sell right away, we will move into a rental house, so I will need to find a place to live, pack etc . . . and I'd love to start that process before I head back to work! (We plan to build a home--exactly when we start depends on many factors right now, but we hoped to start in October).
Thanks for reading my long story and I look foward to your advice!