Skip to main content

first time selling: plenty traffic but no offer?

location: Houston, TX

house: built in 2020, 3b2b single family, great condition, lots of upgrades, inspected 3 years ago. Lawn service supposedly provided by agent. fully vacant (no furniture), no staging from agent. yes MLS.

background: we moved out of state in a rush due to recent work change. we did not shop for seller agents at the time and ended up re-hiring our then buyer agent to list and sell the house (later found our agent does not have much selling experience/record). We moved out in March. The house is fully vacant and in the hand of our agent for sale. On market for ~ 4 months. We ran multiple comps over the time and think we are fairly priced (right on average in the neighborhood, not counting upgrades)

Since our new location is quite far away we were not able to revisit our house. but according to our agent there has been > a dozen of showings so far (quite a few in the first month). No offer so far and interest is clearly down since Summer. Also for all the showings, only one clearly states not fit (need a different floor plan), everyone else is positive. none thinks price is too high.

We understand it's buyers market now but can't make sense of what turned visitors away. Our agent is not very good at communicating (never actively provide any update). So far the suggestion from our agent (or the lack thereof) is just to wait and see (we are open to price adjustment BTW). Our contract expires in a month (after the hot selling season ends).

We can appreciate some advice from reddit community: is 4 month on market nothing to worry about in this era? why all visitors turned away? should we renew contract with current agent? look for a more experienced seller after this? break contract earlier to catch the tail of summer selling season?

many thanks in advance!

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

source https://www.reddit.com/r/RealEstate/comments/1m3hrkg/first_time_selling_plenty_traffic_but_no_offer/

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...

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/

Co-signing as non-primary resident - effect on size of required downpayment & first time home buyer status?

Contemplating co-signing on a house with my mom and splitting the mortgage payment. I currently have a significantly higher income and much better credit than her. I'm looking at potential home costs and related downpayments but have difficulty using some of the online estimators. From my perspective, this would be somewhat of an investment purchase (I intend to stay in my current location in a different state and contribute to the mortgage), however, for my mom, this would be a primary residence. For purposes of the downpayment size and the type of mortgage arrangement, would it be an investment property or a primary residence? Many thanks for any help. submitted by /u/piercalicious [link] [comments] source https://www.reddit.com/r/RealEstate/comments/km4hvl/cosigning_as_nonprimary_resident_effect_on_size/