sell this house? A Melodrama in 4 Acts…Act II, Scene 4, August 2010
ME (August 16, 2010): Dear BB, Hope you had a nice weekend! My daughter is in the air on her way back to NYC. We had a wonderful time together.
Wow, can you believe that August is half way over and my house has been on the market for 6 months? Interesting article in the RG a couple of days ago that said there are so many house for sale here that it will take about a year to sell them all. I am trying to be patient, but it is hard. I had another talk with my Wells Fargo mortgage person about short sales and modified mortgages. I am going to try the modified mortgage first, although there is a lot of paperwork.
This week I am busy with AARP volunteer stuff. Walgreens/AARP are sponsoring a wellness bus tour of the US this month. We have 3 Walgreens here and I will be at each. Anyone over 18 can get a FREE health screening. Come on down!
Not sure about another open house. I think we need to talk. Cheers…
BB (8/16/2010): Glad to hear you had a nice time with Heather! Yes, it is a bit unbelievable that it’s Mid-August and that we’ve been trying to sell your home for half a year already. I’m glad to hear that you’re looking at other options — I hope you don’t have to go that route, but the market is really challenging right now and it’s good to have options.
Sounds like a busy week for you. I won’t be able to see you this afternoon, but I hope you have a good turn out and that you stay cool.
And yes, let’s talk about an open house — my feeling is that we had really low numbers on the past two open houses and the summer weekends are not very productive lately (a lot of people are trying to take advantage of the last couple of weekends of summer and get out-of-town — not a lot of activity at any open houses from what I’m hearing). Also, the trend these days is that houses that do get offers are getting them from agent showings and not from open houses. In previous market conditions, open houses were more productive. These days they seem like a waste of time and money in many ways. However, let’s talk about it so we can come up with a plan.
Have a wonderful day! Thanks…
ME (August 23, 2010): Good morning Barb…
Thanks for picking up the flyers and the container. However, there is still that sign advertising the house and a mortgage company! And…the price is listed as $494,000. I think it should come down. And I have the plastic container that the inside flyers were in. Flyers all gone.
Let’s hope Wednesday’s open house pumps some interest into some of the agents…
The real estate news is doom and gloom every day in the paper. That is not helping! Thanks…
BB (8/23/2010): Thanks for the reminder — My daughter couldn’t get it off the post and I completely forgot about it. I’m sending the big guns over — my husband said he would go by today and remove it (he has the right tools and the muscle!). He’s also going to drop off new flyers for inside the house with the correct price — so keep the plastic container for inside the house.
Yes, let’s hope the agent tour brings some interest — I was hoping to hear from you by now that there were more showings. A couple of agents did tell me “good job on raising the commission there” so I was hoping that would translate into more showings. But it’s challenging in this market. And yes, the bad news in the media is not helping homeowners right now. It’s a challenge to remain optimistic when there is so much bad news.
I wish I had good news to tell you — and I’m still hoping that I’ll be able to soon. Thanks — I hope you have a good day!
BB (8/25/2010): Did you have a good turn-out for the broker tour? Please let me know who attended when you get a chance. Thanks!
ME (August 25, 2010): Was just thinking of you. Had 6 agents. Will send names later. One agent…SN called and brought a woman over to look at the house about 4pm. She is a professor at the university. She loved the house. We sat on the patio and talked for quite a while. I told SN we were ready to take an offer! Keep your fingers crossed!
I had a good day. Went to breakfast at Denny’s. Hit TJ Maxx. Saw a film. And, I have a clean house and yard!
IF the house doesn’t sell by October 1, I will probably do that every Saturday open house and put ads on Craigslist and Facebook. Will probably be taking a trip down to CA again for another birthday celebration. Mine, my sister, and my brother-in-law. Stay cool…
BB (8/25/2010): Excellent! I’m glad you had a good day and a decent turnout and now have a clean house and yard to enjoy! SN also showed another house, so I had emailed her about that and she said that they are now looking at your house. Fingers crossed!
BB (August 26, 2010): Thank you for attending the broker tour. Can you please give me some feedback that I can pass on to my seller?
KC (August 26, 2010): The house has a lot of charm and is very sweet inside…however, there are limitations to adding value just for location and charm…the floor plan is a challenge not so much interior wise, but what you see from almost every room. I think the buyer pool is limited b/c of the way the neighbors’ driveways surround the property and the lack of common privacy. These impact the value. Also, your client may benefit from having the house professionally staged. Your client has lots of neat art pieces, but they are distracting and there’s just too much going on. Feels like a bed and breakfast. I think the price should be under $400k due to the house being situated the way it is. Again, it’s a charming home, but the way it’s situated and the way it’s decorated limit your buyer pool and take away from what’s valuable…the wood wrapped windows and doors, the open living and dining room…the urban chalet/cottage feel. The gardens are very sweet.
ME (August 26, 2010): Thanks, but no thanks. I cannot sell for under $400k. You know that. I agree with much of what she says. And I thought I had eliminated most of the art! I know the driveways impact the house. Not much I can do about that. If you think that a stager would help, I am open. However, I do not want to pay for storing furniture. Any Ideas?
BB (8/26/2010): I think you’ve already done a lot and this information is nothing new to us. A stager wouldn’t help that much to make it worth your while. I’ve seen houses that she has staged and she likes to bring in a lot of furniture. I don’t think you have too much art and I know how much you’ve already done with removing stuff!
Sometimes the broker tour is useful, because we can learn something new (like if everyone said something like “the carpets need to be removed” then we would talk about removing the carpets) — but sometimes the broker tour just leads to a lot of opinions from realtors that aren’t really helpful. So I always take it with a grain of salt, or two or three.
This one was thorough, but it didn’t really have new information that we didn’t know — we know the driveways and privacy are an issue, we know the views from the windows are sometimes challenged (like the hallway), we know you have a lot of art (but you’ve already done so much that it doesn’t seem like a lot anymore!). I don’t think it looks like a bed and breakfast, but you do have tenants so some of that feel is to be expected.
I’m going to leave it up to you on whether or not you want to spend $50 for a stager to come over and tell you things to move around. I think you’ve done a fantastic job already and it’s going to come down to finding the right person for the house more than moving your furnishings around.
And yes, I know you can’t sell under $400k — that’s ridiculous!
BB (8/26/2010): Hi, I tried both your numbers and haven’t reached you yet, so I’ll email this on and talk to you about it when you call me
SN’s client wrote an offer. You met her yesterday when she saw the house. She is a Professor at the university and loves the house and the neighborhood. SN said she doesn’t have to sell her current house in order to move and that she can be flexible about how much time you have to move (though they put a closing date of 9/23/2010). The offer is $420K cash and SN said that they are expecting a counter offer from you. She is putting down $5000 down as earnest money. They gave us until Monday at 5pm to respond. There is nothing else weird or any other details to tell you about –it’s pretty straight forward.
So call me when you get a chance and we can talk about what you would like to do.
PS…We made a counter offer which the professor turned down. So…no sale…