Author Topic: What to do with property I can't sell?  (Read 1834 times)

Prepube

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What to do with property I can't sell?
« on: May 12, 2015, 11:43:18 PM »
I have a piece of property (5 acres) in the mountains that I have had a helluva time selling.  Listed it for almost five years now.  The county describes it as heavily treed and steep with few building sites and no view.  They are partially correct, but the views are outstanding.  It actually went down in value last year, according to the county.  The real estate guys aren't putting much effort into it, and I doubt it even gets shown very often. They are the only choice I have in that part of Colorado, though.  Do I keep lowering the price until I get a buyer?  It is empty land with easy access to electricity and gas lines, and a well onsite.  I want to move it fast, but how?

expatartist

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Re: What to do with property I can't sell?
« Reply #1 on: May 13, 2015, 12:11:12 AM »
Quality photos are an important part of the package when selling any property. Do you have good photos of some of those incredible views?

Fishingmn

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Re: What to do with property I can't sell?
« Reply #2 on: May 13, 2015, 06:13:39 AM »
It's up to the real estate guys to describe it well, photograph it well and get it listed/syndicated to the internet. After that it's not a matter of a realtor putting effort into it.

If all that is done then it's either price or patience. Since you have high motivation then it means lowering the price.

NoNonsenseLandlord

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Re: What to do with property I can't sell?
« Reply #3 on: May 13, 2015, 07:23:01 AM »
There are only two reasons a property does not sell.  It is either over-priced, or under-marketed.

You may look for more creative ways to market it, assuming it is on the MLS, or lower the price.

BadStache

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Re: What to do with property I can't sell?
« Reply #4 on: May 13, 2015, 07:56:37 AM »
I have the exact same problem as you, just want to see if anyone has any ideas.  I'm thinking about dumping the property at a super low price since bare land is so hard to sell and my money should be growing.