Should I get off the buyer's emotional roller coaster?
Our house has been for sale since May. According to every realtor that has come in the house, it is the best value in the neighborhood, is completely updated and well maintained.
We've had one contingency offer and plenty of second lookers who need to sell their houses first. Right now our real estate market is completely, totally dead. The town did not have a crazy run up of real estate prices but is currently plagued by unemployment problems.
We've had one set of buyers who have been to the house six or more times in the past two months. They have a long tale of woe about their previous home- dumped by their relo company because of mold issues, appraisal problems, buyers that walked, etc. They have finally sold their home and are ready to buy. The family loves our house but the Dad wants a three car garage which our house does not have. They made an offer on a house down the street but it fell through because the inspection found a small amount of mold.
School started a couple of weeks ago in our new town and we have moved to a furnished rental and vacated our house. The house is still furnished and we have people helping us maintain it. We are financially secure and have a lot of equity in the home, but we would prefer to spend money on our potential new home, not on rent.
Our house is listed at $357k, which is about 20k less than it would have went for 18 months ago. The potential buyers offered us $310k. We have countered with $337k. The agent (who is completely exasperated with the buyers) thinks they won't take the $337k. We should hear back tonight about our counter.
I'd love some objective opinions. Should we go lower? Should we just suck it up and wait for another buyer seeing that these buyers are skittish? What are the pros and cons of waiting for spring 2010 buyers? Our zip is 29501 btw.
Thanks for reading!