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/

Labels

Labels:

Comments

Post a Comment

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...
1 comment
Read more

Obtaining a real estate license as a hobby?

Hello, I am 24 years old - 2 years out of college and I have my main job. I was looking to get a real estate license (in California if location matters) as a hobby/for fun since I like real estate ever since I was in high school. In the past 2 years, I would go to open house in the weekends to look at homes for fun. I don’t plan to practice real estate full time as I have my main job but I am curious are there any benefits to this? In the future, I plan to own multiple properties and have rentals, so I was wondering if getting a real estate license can help me with it? Thanks submitted by /u/AlohVera [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1f0qx9i/obtaining_a_real_estate_license_as_a_hobby/
Post a Comment
Read more

Advice? Moved out of my primary residence and now renting

I moved out of the house I own in August 2021, I lived there for 8 years, I have been renting an apartment the past 3 years and renting out my house. My current tenant is moving out in September. I seem to have just missed the living 2 years out of 5 years rule for being exempt from capital gains tax and my house being a primary home. Any advice on what the best thing to do would be moving forward? Continue to rent out my house? I'm happy with my rental, but wouldn't mind buying another property down the road. I could sell my house down the road and try to do a 1031 exchange? Moving back in my house isn't ideal because it's an hour away from where I currently live. I could take a HELOC perhaps and try to buy another property and continue renting for the long term? I do have a 2.4% mortgage rate on the house so I don't mind keeping it for a while. Thanks for everyone's advice. submitted by /u/Ok-Top-7859 [link] [comments] source https://www.reddit.co...
Post a Comment
Read more