Why Won't This House Sell ?!

By
Services for Real Estate Pros with Gateway Holding and Referral Company

All three of these houses were on the market last summer. 

Here's the stats:

House #1

House #1  SOLD July 07 $129,900

DOM:   46

3 BR, 2 baths, 1,040 sq. ft.

2 car garage, no basement

House #2

House #2 SOLD Sept. 07 $132,000

DOM:   121

3 BR, 2 baths, 1,184 sq. ft.

2 car garage, no basement

House #3

House #3 Not selling!!  List price $129,500

DOM:   355

3 BR, 2 baths, 1,276 sq. ft.

2 car garage, no basement

 

I have been inside all three houses.  They are all on the same street.  The floor plans were identical except house #2 had an added breakfast nook.  All were similar in quality and appeal.  I asked the listing agent of house #3 why he thought it wasn't selling.  He says it's because no one wants to pay that much for a home with no basement.  Well, evidently that's not true now is it?

There is one big difference in the three.  The two that sold had updated kitchens.  Eventhough house #3 still had the original cabinets, they are in pretty good shape and the kitchen is nice.  So, is there truth to the statement "kitchens and baths are what sells a house"?

 

 

Posted by

Stacie Colclasure

Real advice. Real answers. It's Real Estate simplified. Helping buyers and sellers negotiate and manage their real estate transaction successfully.  

For real estate help in the Bethalto, Wood River, Alton, Godfrey, Edwardsville areas email Stacie at stacie@mybethaltohome.com

Comments (6)

TheMillsTeam YourSebringRealtors
Advantage Realty #1 - Sebring, FL
863-212-5441

According to some sellers out there, the home didn't sell because they agent didn't hold an Open House even though we all know that homes ONLY sell at Open Houses. Another reason is probably that the agent didn't run an ad in the classified section every weekend even though we all know this is the one and only way to sell homes.

I'm sorry for the sarcasm, it's just one of these days.

Jul 11, 2008 01:57 PM
Michael Shankman
Award Realty - Las Vegas, NV
Selling Las Vegas 702-498-3383

maybe it is his attitude...lower the price till it sellls...

Jul 11, 2008 02:06 PM
Ernie & Barb Suto
Century 21 Preferred Realty - Pompton Lakes, NJ

The realtor always gets blamed no matter what the situation is.  Kitchens and baths do sell homes!  Not familiar with your market, but in ours, the prices seem to be down about 3% more from only 6 months ago. A year ago, it may have been priced correctly, the longer it sits, the less it seems to be worth, around here anyway!  From these pictures, the curb appeal on the third one does not look like the first two!

Jul 11, 2008 02:06 PM
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Stacie

We are in a competitive market and it's important to consider the following.

Is the home ready to sell? Is the homes condition a positive or a negative?  Does the home require updating to sell? Sounds like this home may need updating to be sold.

The listing price is based on a current CMA with no fluff.

If all the pieces come together the listing will generate quality activity and sell the home.

Good Luck 

Lou

Jul 11, 2008 02:17 PM
Holly Lynch
Keller Williams Greenville Central - Travelers Rest, SC

Ok as a flipper and just comparing the curb appeal..the house is DARKER than the previous two which makes it look ominous and smaller. I would PAINT the brick a light cream, black shutters and put some flowers or flowering plants in front. ..needs more curb appeal. Not a bad house. The darkness makes it look more dated.

Just my opinion.

Jul 11, 2008 02:20 PM
Holly Lynch
Keller Williams Greenville Central - Travelers Rest, SC

Oh yea..and Kitchens and bathrooms are the #1 thing that sell a house.>>Have to be neutral, updated and good appliances and fixtures. period.

good luck

Jul 11, 2008 02:21 PM