Author Topic: Why won't my house sell?  (Read 20301 times)

Fishindude

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Re: Why won't my house sell?
« Reply #50 on: September 01, 2015, 07:49:30 AM »
I'm in the midwest also.  Unless it's in a really "hot" area such as a university town, etc. it's not unusual to take 6, 12, 18 moths to get a home sold.
If you're not getting showings, change realtors when this one's contract expires. 

Nice house, and price doesn't seem unreasonable.  Should at least get some lookers.

zephyr911

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Re: Why won't my house sell?
« Reply #51 on: September 01, 2015, 08:17:43 AM »
Do houses cost that much in the relative middle of nowhere in Australia. (Lets not get quite to "true" middle of nowhere; because Australia has that way more than we do!).  Because not only is this house in Iowa (which I personally love, but isn't a state most people desire to live in); it is in fairly rural Iowa.  You just can't compare it to a major international city!
Yes you can. How else would we derive an understanding of the fundamental differences between superficially similar things, without comparing them?

I guess if you want to get into semantics, it's more of a contrast than a comparison, but that's beyond even my appetite for hair-splitting.... ;)

ozbeach

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Re: Why won't my house sell?
« Reply #52 on: September 01, 2015, 02:13:24 PM »
Man I can't believe you can't sell a house like that in IA for 150K. A house like that in my area would cost 400-500K and sell within two months.

I don't look at real estate in other parts of the country. It's too depressing.

Wow at these prices. Don't look in another country then. Median house price in outer Sydney reported the other week as AU$1.2M

Do houses cost that much in the relative middle of nowhere in Australia. (Lets not get quite to "true" middle of nowhere; because Australia has that way more than we do!).  Because not only is this house in Iowa (which I personally love, but isn't a state most people desire to live in); it is in fairly rural Iowa.  You just can't compare it to a major international city!

Maybe a better comparison then - I live in a small village (pop. ~1,000) on the East Coast of Australia. 30 minute drive to closest town centre (30,000). Most houses here built between 1960 - 90, most 3 or 4 bedroom with ensuite. Median house price here would be around AU$450K.

I'm a red panda

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Re: Why won't my house sell?
« Reply #53 on: September 01, 2015, 02:19:55 PM »
Yes you can. How else would we derive an understanding of the fundamental differences between superficially similar things, without comparing them?

I guess if you want to get into semantics, it's more of a contrast than a comparison, but that's beyond even my appetite for hair-splitting.... ;)

But there are SO many factors that are different that the one selected data point (price) is just nonsensical. It means nothing without knowing the other things.

(The new example makes a lot more sense. Yes- housing here is pretty cheap.)

NoNonsenseLandlord

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Re: Why won't my house sell?
« Reply #54 on: September 01, 2015, 03:49:09 PM »
There are only two reasons a house does not sell.  It is over-priced, or under-marketed.

the time of year may also make a difference.  it is September, expect less buyers and lower prices.

justajane

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Re: Why won't my house sell?
« Reply #55 on: September 01, 2015, 05:07:17 PM »
The OP hasn't commented on the thread in over a month. I'm guessing he or she isn't coming back. I wonder if the house sold.

FIRE me

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Re: Why won't my house sell?
« Reply #56 on: September 01, 2015, 11:05:27 PM »
The OP hasn't commented on the thread in over a month. I'm guessing he or she isn't coming back. I wonder if the house sold.

It is still listed so I would say it hasn't sold.

I see that as pointed out earlier in this thread the listing incorrectly doubles the square feet, and incorrectly halves the stated cost per square foot.

I have no idea if this is actionable, but there is no way I'd go look at that house with such an error in the ad. I'd consider the seller and Realtor prone to making unreliable statements.

If OP is still reading, I'd recommend that he get the listing ad fixed pronto.

tooqk4u22

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Re: Why won't my house sell?
« Reply #57 on: September 03, 2015, 02:24:14 PM »
I am in the camp of price is too high.   Unfortunately you have a nice house in a crappy real estate market.  I would love that house and the property taxes. 

Looking at the info I see that only 20% of the homes sold in all of Marshalltown were $150k or higher. 

There were three homes that sold in your development in the last six months:

2712 Rockton - $146k, 3336sf, $44/sf
2459 Jefferson - $101k, 1244sf, $81/sf (I suspect there is SF that is not incorporated)
2456 Malta - $120k, 1844sf, $65/sf

There is also one currently for sale:
2443 Jefferson - $100k, 1920sf, $52/sf

Dime store conclusion is that you are probably too high if you want to sell quick, but there may be a buyer at your price point if you are willing to wait a while.  For your town you are essentially the upper class so your potential buyer pool is limited. Average listing price is $89k so you are almost double the area.  Population for your area is down 2% from last year so that is not good.  Real estate is not liquid as you know, but throw in a small town dynamic and it is even less so.

Setting aside all that though, it also hurts you if you have the nicest most expensive house in your development. 

Good luck but you may have to be prepared to go down to $135k or so to move it.

powskier

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Re: Why won't my house sell?
« Reply #58 on: September 05, 2015, 10:58:51 AM »
It doesn't matter what a house is or looks like if it is in a undesirable( for whatever reason) area.

OP mentioned a few times he was frustrated with numerous poor  financial choices, perhaps he should have someone look over his other choices and options? Rent out house? Rent to own? Owner finance? Default?
The current fixation on "having to sell now" may be the problem, maybe there are other better options in the bigger picture.