Please critique my FSBO listing!
My wife and I are listing our home FSBO through a flat-fee MLS service (link is below). We've only been on the market for 3 weeks, but I'm starting to get concerned about the lack of serious attention we've been getting.
We initially listed at $335k and got about 8-10 showings and had maybe 8 couples come through our open house that weekend. No second showings, though. All the agent feedback I received was pretty generic: "It showed well, but wasn't for my buyers." "It's a bit out of my buyers' price range." and so on.
So two weeks later we dropped the price by $10k to $325k. After that we had a few more showings, one of which resulted in second and third showings, and ultimately a (in my opinion) lowball offer. After a bit of back and forth, the highest they would come was $290k, so we moved on. There's been no activity since then.
We're in a very desirable neighborhood of Minneapolis with great schools. We're definitely at the "entry level" price range for our area; the majority of existing homes are in the 500s and up, and there has been a ton of new construction for 700 and up. One issue: we are across the street from a high school (although it's the best HS in the city). I've tried to build that into our price already: by my calculations, recent comps (that aren't next to the school) have sold for around $335k. So I feel our asking price of $325k and willingness to go lower accounts for that. But I'm willing to be proven wrong.
So, should we just be patient? Or are we overpriced? I have a hard time believing we're overpriced - the only homes that have sold in our area for less than $315k have been 2br (ours is 3br) and have been on busy streets. Am I seriously underestimating the negative value of being across the street from a high school?
Any other feedback and critiques of our listing would be helpful, too. Thanks!
This post was edited by outerloops on Sun, Nov 10, 13 at 19:22