Home > Blogs > Rebecca White > The Fog Blog

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

By Rebecca White

Real Estate Agent with Alain Pinel REALTORS BRE#00861017

March 25, 2009 03:45 PM

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?

Re-Blog

Comments(4)

Comment

Show All Comments

Sort:

Debra Cernick

DeShazer Ryan Realty - Libby, MT

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 ?

Mar 25, 2009 03:52 PM

John Secor

EXIT Real Estate Results - Winter Springs, FL

There is only one reason a property doesn't sell.....PRICE. Every mans ceiling is another mans floor, you gotta hang tough sometimes.

Mar 25, 2009 04:00 PM

Vanessa V. Simmons

Real Living HER - Columbus, OH

Realtor

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...

Mar 25, 2009 04:02 PM

Rebecca White

Alain Pinel REALTORS - San Francisco, CA

Real Estate Agent - San Francisco

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.

Mar 27, 2009 06:40 AM