How to sell your home fast…or not
Back in September, I wrote an article providing tips on how to sell your home fast in a buyer’s market. These tips and suggestions were not only things I had personally done to the home we’re trying to sell, but also tips and suggestions from multiple real estate agents, friends, family and a significant amount of research and reading that I did on the internet.
While I still think these are excellent tips and things that really must be done in order to sell your home in the current stale market, they weren’t enough. We listed our home in early August and haven’t received a single offer yet. Right before school started was a fairly active time. We were receiving on average 2-3 showings a week. The problem was that we listed the home before we had done any of the things I suggested in my article. Once school started, showings went down to about 1 per week and then continued to slow as we moved closer to the election and the Holiday season.
No showings in 3 weeks
As of today, we haven’t had a single showing in 3 weeks. Our home is pristine: New carpet all around, complete exterior repainting and repairs, complete interior repainting, everything works and it’s clean. Not only is it clean, it’s empty. Now granted, maybe that might hurt it a bit, but only if people were seeing it, which they aren’t.
Is my agent not doing her job?
My first though was to question my selling agents ability and experience. After all, she is new. We discussed the lack of showings and I was surprised to find out that her entire office hasn’t had a single showing in two weeks. This isn’t a small little office either, it’s Remax and they have more than 10 agents. Talking to a few friends that are also trying to sell their homes, they haven’t had any showings either.
The market hasn’t slowed, the market has stopped. Granted it is close to the holiday season and real estate sales tend to slow way up anyway, even in a good market. But with our current market, it’s just not moving at all.
Alternatives to selling
Considering I am not able to sell, we’re looking now at renting. This is something I had seriously considered before, but frankly chose not to as I just didn’t want to deal with the hassle. I’m not really interested in real estate form an investment perspective, or should I say I wasn’t until recently. Now? Well, given the fact I can’t move my current home and I’m having to pay two mortgage payments, two sets of electric bills, twice the home owners insurance, and property taxes on two homes…I think it’s time to branch out my investing options.
Another option would be to wait and sell later. Even under the best of circumstances, it’s not a good time to sell: Winter time is generally slower and the holiday season is slower. I could certainly financially afford to wait, but I just feel like I am literally burning money each month paying for a home I’m not using.
If you’ve been wondering about whether or not all of the nightly news features about the down housing market are true. Wonder no more, they are dead on. Houses just aren’t selling right now because there just aren’t any buyers.
I guess I’ll be calling my agent later this afternoon to discuss renting. But, let’s look on the bright side: 1) I might be able to sell in a year or two and get far more for my home and 2) I’ll have something new to write about here on Gather Little by Little!
Have any suggestions or helpful tips for me about renting? Are you trying to sell your home and feeling my pain? Add a comment!
Photo by: TheTruthAbout…