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Wow, it wasn't easy but I canceled my listing of the little house that didn't sell in East Oakland.

 

Cute house--needed work, but great potential.

 

It is a sad state of affairs when price becomes irrelevant and some places won't sell no matter how low they are priced. Lowering the price of one acts as a downward spiral on the surrounding home prices.

 

No showings, no phone calls, nada. All someone would have had to do was buy, fix up with $20-30,000, rent out with cash flow and wait 3-5 years to triple their investment.

 

Of course, no one can predict the future, but I can be optimistic, right?

 

4 Comments on Yes, Some Houses are Un-SELL-able! (in East Oakland!)

MAR
25
2009
Localism Sponsor Hit Router

Rebecca-

I do not understand why you canceled the listing. You gave up? You did not want to waste your time? You do not think that anyone else is optimistic ?
10:52pm • #1
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There is only one reason a property doesn't sell.....PRICE.  Every mans ceiling is another mans floor, you gotta hang tough sometimes.
11:00pm • #2
Localism Sponsor

Well I kinda agree with the others here.  How long did you list and how well was it priced.  Every home has it's price...
11:02pm • #3
MAR
27
2009
Attended Rain Camp

The house was initially priced at $110,000 and then I dropped it to $85,000. I did an Open House, blogged about it and created a website.

When I was considering a price drop to $75,000; my broker talked to the owner of the company about the situation and she instructed me to "let it go".

As five recent sales and pendings were $50,000 or less, my commission would have been $200. The reward wasn't worth the risk to the company.

How many of you would have worked to market and sell a property to make $210?

As my company does a lot for me, it wasn't worth it to fight for this listing. I am still helping the seller to find someone to help or do it herself.
1:40pm • #4

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Rebecca White San Francisco Real Estate Agent

San Francisco, CA

More about me…

McGUIRE Real Estate

Address: 100 Clipper Street, San Francisco, CA, 94114

Office Phone: (415) 642-8000

Cell Phone: (415) 412-1977

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Musings and rants and San Francisco real estate stats.


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