Skip to main content

Plenty of showings, no offers. Should we hold or drop price?

Located about 15 minutes from Philadelphia (south NJ)
We listed 11 days ago, and have had about 25 showings so far, and have an open house tomorrow.
We actually bought about 6 months ago, and am needing to sell and move out of state, I put a lot of work into the house in this short time, all new appliances, new sink, new flooring in the enclosed patio/laundry, new vinyl fence. In 2024 a new roof, new electrical.

House appraised for 365k when purchased (for whatever that's worth), and per the realtors suggestion based on comps, we listed for 355k (5k more than purchased.)
Zillow and Redfin claim the house is "hot", has 4k+ views and plenty of saves, which made me feel hopeful, but all the showings with no offers have me worried.

Not sure if that number of showings is good or not for the area, but according to my realtor it means the price is fine since there is interest, and dropping the price wouldn't make a difference. However, I am needing to move to the new state in August so am considering dropping the price and eating a bigger loss in hopes there is no overlap.

The feedback has all been the same, "adorable, very well kept, very nice neighborhood, half the feedback has been price is "just fine", the other half say "too high" BUT they all understandably say it is "too small" which I can't really do anything about.

Below is the listing.

https://www.zillow.com/homedetails/204-Barlow-Ave-Cherry-Hill-NJ-08002/38218609_zpid/

https://www.redfin.com/NJ/Cherry-Hill/204-Barlow-Ave-08002/home/36128135

I appreciate any advice as I'm a complete novice at this. Thank you very much!

submitted by /u/Furiosoo
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1kttj5d/plenty_of_showings_no_offers_should_we_hold_or/

Comments

Popular posts from this blog

Aren't comps/CMAs useless with buyer credits at close happening now?

I'm looking into buying a new construction townhouse in my HCOL US city. I'm seeing builders offering interest rate buydowns worth $20k-$60k on $800k homes (rather than just lowering prices) in order to keep their comps high for their other units, now that buyer demand has been declining. I asked my agent about these, and he said these buydowns aren't even the full story: buyers can write all kinds of other credits into an offer, like their closing costs, prepaid sewer fees, etc. Apparently cash buyers can just write in a "buyer credit at close" for any amount in their offer. So a new townhouse that appeared to sell for $800k in the MLS might have actually been a cash offer with a $100k+ buyer credit at close, meaning the buyer only spent $700k or less in total, but to the rest of the world they can only see the $800k! So that made me realize I can't trust comps/CMAs for other new construction townhouses. The sales prices could be way lower than they appear...

Pool fill without engineer oversight

We are in the process of purchasing our first ever home in CA and we just discovered in the disclosures that the new build property we are purchasing previously had a swimming pool which was filled without an engineer onsite to approve the work (details from disclosure below). Is this something we should be concerned with or not? Is it something we should have additional inspections conducted on? We are originally from the UK and not really sure what to do with this information and if it is concerning or not. A POOL DID EXIST PREVIOUSLY. COPING, TILE, GUNNITE AND REBAR WERE ALL REMOVED AND DIRT AND CLEAN DRAIN ROCK WERE USED TO FILL IT IN. COMPACTED FILL WAS NOT USED AND NO ENGINEER APPROVED THE DIRT AND DRAIN ROCK FILL IN submitted by /u/tommot82 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/dpyzw8/pool_fill_without_engineer_oversight/

Making offers on houses not listed for sale.

I want to buy a home for retirement. I am looking at lots of options, mostly focusing on the locations that appeal to me. I see lots of Zillow estimates of homes that look like great deals to me. Are these estimates accurate, even though similar houses in the same area that are for sale are usually priced much higher? If so, is it realistic for me to try to make offers to owners that do not have their homes listed? Would a realtor even consider helping me do this? Or, do these values indicate that the houses listed for sale are overpriced, and I should just lowball until someone accepts? Are houses today tending to sell far below list prices, or ??? submitted by /u/chewybrian [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1o4mcon/making_offers_on_houses_not_listed_for_sale/