Real Estate Blog - COULD USE A SECOND OPINION

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COULD USE A SECOND OPINION

I have this cute and unique one bedroom loft for sale in Country Squire in Cromwell, CT. It is nestled in the woods, and has a lot of charm.

In the days when there aren't that many buyers, I have had a lot of showings... this is good for my client. It is priced ahead of the market at $113,000; MLS #N275989

There have been a lot of the agents that have shown this unit can find anything wrong.. everyone seems to love it. Some have gone back for second showings.

I could use a second opinion, and if you could get back to me with any thoughts as to why this remains active, thank you.

valerie osterhoudt

VALERIE K OSTERHOUDT, ABR
GLEN I. JOHNSON REAL ESTATE, INC.
309 MAIN STREET
CROMWELL, CT 06416
E-mail: Valerierealtor@sbcglobal.net
Website: CTrealtorMLS.com
860-635-0387 (Office)
860-883-8889 (Cell)

Info about the author:

Valerie Osterhoudt is a Cromwell Connecticut Residential Realtor who can assist you with the purchase and/or sale of real estate in the Middlesex County of CT, as well as the surrounding areas. Please visit me at www.CTrealtorMLS.com for all your relocation and/or local needs.

Valerie Osterhoudt, ABR - Johnson Real Estate, Inc. - 860.635.0387 #2 - valerierealtor@sbcglobal.net

Posted by Valerie Osterhoudt, ABR ~ Cromwell, CT Real Estate ~ 860.883.8889 on 04/20/2008 06:00 PM

Comments (8)

Second Opinion, Cromwell Ct, Country Squire, Valerie Osterhoudt in the ActiveRain Channel

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Originally posted at: Valerie Osterhoudt's Blog: COULD USE A SECOND OPINION

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8 Comments on COULD USE A SECOND OPINION

APR

2008

cute loft, but i think it looks a bit cluttered (in a clean way). i mean, you want it to be furnished, i like for the potential buyers to freely explore the entirety of the home. with so much stuff, it's often difficult for people to plan it to be their own. honestly, i'd take away some of the stuff, but i'm sure it will sell soon, it's lovely. good luck

I totally understand how frusterating it can be. Because of the economy and large inventories, I have noticed that many buyers are on the fence. Trying to decide which home to choose. Because of this I would do a price reduction one more time to encourage these buyers to step up to the plate and make an offer. Perhaps you will get into a multiple offer situation where the seller will recoop the price reduction or maybe even more. Good luck and keep us posted.

Valerie Check with the agents that have shown it twice and determine what the Buyers hesitation might be. Sit down with your Seller and write an offer to the Buyer. Write the contract offer in a way that it addresses the Buyer's concerns.

Valerie. Only two things keep any listing from selling - it's either the Price or it's the Realtor. If you have done everything you promised to do and have created traffic (through showings, contacting your sphere of influence, doing open houses, caravans, internet leads and sign calls) and you have even had second showings, that's usually a good sign it's not the Realtor. If your days on the market is creeping up to or has already sped past the average for the area and all the above is true, it can only be Price. Go get that price reduction!

imo, if it were the price, wouldn't she atleast get an offer? maybe you can disregaurd me, i'm just the mortgage broker.

Crystal No, not necessarily. Consider these examples:

Buyer is prequalified for $185,000 - they aren't searching for homes that are listed for $209,900. So if a home is overpriced prospective Buyers may not even know about it.
Buyers know that homes generally sell for 3-5% of list price, so they may not want to "insult" the Seller by offering 20% under list even if that truly is the fair market value.

Valerie, I know what the Condo's in that area are selling for, and that price is not out of line. I wonder if you had a Broker Open to try to get some feed back from other Realtors if that might help to try to reveal the problem.

To all that have responded... Thank you.. this condo is listed at the price where the others in the complex have closed at. The CMA's I do are right up there with what appraisers do. I always price listing *ahead of the market*.. not over priced only to reduce it. That would not be good for the seller or the buyer.. I don't play games. I'm looking for the seller to move on, and the buyer to get a good deal.

In my opinion, for what it be worth, is the amount of inventory that is out there.. and buyers now have more than ever, more to choose from.

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