<p>Our area is still seeing activity but closings around here routinely happen in 30 days unless there is some request to wait. And we are definitely one of those school districts people choose deliberately. </p>
<p>Showing #20 tomorrow (in 7 weeks), the second “second” showing we’ve had.</p>
<p>My LOL of the day: the friend says that the owner of the lot with the infamous cell tower plans on being the lease holder even after the sale and assumes that he will pocket whatever rent the cell co. will pay. Apparently, that is “reflected in the price”. Wow :eek: I say good luck with the sale, unless he finds a desperate sucker. Some people have very unrealistic views of the reality (and real estate :)).</p>
<p>Our neighborhood has always been desirable: private police and fire department, decent schools for California, and really good commute times (although limited access to freeways). </p>
<p>Princes here (sold) have skyrocketed this year. Not much inventory and the stuff sold.</p>
<p>Even this past winter, when we had a lot more houses on the market than we EVER did this summer, inventory was low and buying competition was high. To my amateur eyes it seemed like things were ripe for prices to start creeping back up. I am wondering if they did this summer and that is why we didn’t see any listings all summer… perhaps they went out of our price range. That would be such a bummer. 
There are really only so many cities within reasonable driving distance of my boyfriend’s work that don’t have god awful schools. We drove through another one this weekend trying to get the lay of the land, the town that is the only other obvious choice, and things weren’t really any different there and the houses are much smaller for the same prices even though the neighborhood is significantly less desirable. Hard to get excited about that.</p>
<p>I am in touch now with a few new realtors and I asked them for their take on things. Hopefully something will work out. I am trying to remain optimistic though we are discouraged. I think if we can get the right people on our team something will have to happen for us eventually.</p>
<p>House has been on the market for around 9 weeks. I think it is fairly priced. Feedback has been that it’s a very nice house. For some, it needs too much updating. For others, the land is a problem (It sucks.) Realtor suggested yesterday that we drop the price. </p>
<p>Opinions?</p>
<p>We’re not in any rush to sell.</p>
<p>IMO, if the realtor suggests dropping the price, doesn’t that mean it was priced wrong to begin with??</p>
<p>^ perhaps, but what it really means is that given the amount of time it has been on the market, with no firm offers, it is priced too high. And at this point the listing is “stale” .So if you want to attract new interest from new buyers and get it sold, you need to lower the price. The market has spoken, regardless of whether you think it is “fairly priced”</p>
<p>“with no firm offers” – Actually, with no offers of any kind!</p>
<p>Do the rest of you agree with menloparkmom? Should we drop the price?</p>
<p>Do you have any other alternative other than to wait? Are you interested in doing any further upgrades that might make it more attractive? I would personally not go that route as its a headache. But you are in no rush. That said, I agree that you dont want the listing to get stale. So whats the harm in dropping the price? You will look like a motivated seller.</p>
<p>How long is the average time before a house sells in your area?</p>
<p>Are homes priced well selling in your area?</p>
<p>How many people have seen your house?</p>
<p>And, is your home the best priced home in your area?</p>
<p>Walk through last night, went well. Holding my breath for the last hurdle, settlement!</p>
<p>Very Happy:</p>
<p>It might be that the realtor priced it too high. It might be that the realtor didn’t market the property well. It might be that the realtor didn’t know the neighborhood, and didn’t take into account the bad lot.</p>
<p>You could drop the price, or you could pull the listing until your contract with that realtor runs out, and start over and interview a few different realtors that are experts in your neighborhood and ask them what went wrong. Note, they may say it was overpriced.</p>
<p>"House has been on the market for around 9 weeks. I think it is fairly priced. Feedback has been that it’s a very nice house. For some, it needs too much updating. For others, the land is a problem (It sucks.) Realtor suggested yesterday that we drop the price. </p>
<p>Opinions?</p>
<p>We’re not in any rush to sell.</p>
<p>IMO, if the realtor suggests dropping the price, doesn’t that mean it was priced wrong to begin with?? "</p>
<p>This is CT not California - 9 weeks isn’t a long time - the market stinks here. You probably will have to lower the price. I don’t expect things to improve for a long time - probably when rates start going up.</p>
<p>Veryhappy I am at about 10 weeks, and just did a small drop. I thought 5% next month, realtor said half that now would be better. School starts here in about a month.</p>
<p>Have had lots of showings, no offers (except one offer to rent it early on which I declined), mostly positive feedback. Not much available in our neighborhood and price range so we’ll see what this does, if anything.</p>
<p>Just signed the papers. The buyers are supposed to sign tomorrow. The 31st funding goes through, and it’s considered closed.</p>
<p>Nice, enjoy your new location UCD…</p>
<p>Congrats UCD!</p>
<p>Congrats- it is so good to unload a house and move on.</p>
<p>Dropping the price will bring in a pool of buyers who are not as fussy. We finally sold after the market picked up and we did severe price reductions. Our lot had “no backyard”- most missed the rest of the acre uphill and down (hill and ravine with a retaining wall in back) but only considered the flat space behind the house and none of the end cul de sac front yard advantages. The first two years it didn’t matter but once we bought our now current house we wanted to be done with the old (6 months in good times for our area is good). Our realtor this spring said buyers look at 25,000 increments- ie x74,900 will attract a new set of buyers when lowering the price whereas over x75,000 won’t for example. Keep the price you want if you don’t want to move soon- the market may pick up or you can take it off the market a few months or do a drastic price reduction later. It all depends how motivated to sell you are.</p>
<p>I understand getting no offers- feast or famine. None, or even second showings, for two years then a second offer came in later on the day we got and accepted the first offer (noon deadline-“bird in hand”…) after price drop and 3 couples saw it twice.</p>
<p>Well…if Facebook helped the real estate market in the south bay of SF, is it going to crush the market now? The stock is down to 23. ZYNGA is also crushed. Don’t know where Groupon is located, but that stock isn’t looking too good either.</p>
<p>wis75, your house was for sale for two years??</p>
<p>More than two years. The next door neighbors (likewise empy nestors wanting to downsize) also had their house for sale that long. I know of others in similar situations. The market was pathetic and only now picking up. We asked for below the posted fair market value/assessed value and had the assessment lowered this past winter- the city assessor said it was hard to find enough sold properties to help her make the assessment. “Metro” area in the 200,000 range. People around here don’t feel rushed in making buying decisions in any year- the tempo is much slower than in other areas consistently. Currently foreclosures mean depressed values- I’m sure the new owners could get much more than they paid in a few years (although it could be 20 or 30 before they want to move).</p>