The Western Suburbs of Chicago, IL, were selling homes for incredibly high prices before the bubble burst - even when compared to other places in the U.S. What goes up, must come down...And further down, if outrageously high in the first place. But, what is a seller supposed to do now? We purchased our house at the high, and are willing to sell for $200,000 less than we have into the home. We plan to put the house up for sale in Jan. at a current market price; however, we still may not be able to sell. Homes in our price range are not moving. Our house has been completely renovated, shows very well, has broad appeal, and is always spotless. There is nothing left to do, but move right into the place. Unfortunately, we are still worried that it will sit on the market for a long time. Is it better to sit tight right now? We really do not want to do so.
Sarah Holcomb
of IL
@
Nov 12, 2008 05:45:21 AM
location
I live in a small town in IL and we have not taken the hit like big cities when it comes to our home prices but I've had my home listed for almost 6 months with only 2 bites and neither one of them could get financing, what am I supposed to do? My house is always clean but I am tired of having to race home to set out my "good" towels, spray some room freshener and all the little things I do to show my house when in the end- the people can't afford my home. The "pre- approved" method my realtor suggested hasn't worked for me as both couples obviosly was not pre- approved. I'm not in a hurry to move as I have another property to live in until my new home is built, but I'm tired of living in a "fish bowl" when it hasn't paid off. Should I relist at the end of my 6 months or pull it off for the winter. I've heard the longer it sits on the market- that makes it look bad like something is wrong with it? Any answers would be greatly appreciated!!
Michele
of IL
@
Oct 29, 2008 14:39:35 PM
Renting is good.
Dear MZZ of CA. With the current market it is good to consider renting. You may be able to get a renter that will cover about 90 pct of your mortgage, then you can find another place to live. Look around for what homes are renting for in your area and then compare those homes to yours, then come up with a fair renting price and get ready for the show.
Kim
of VA
@
Oct 29, 2008 11:37:25 AM
Market Stats
I think it helps if the listing REALTOR is aware of the area market but I also believe it's not as important as to what the listing agent has sold in an area as to what the actual homes in the area are selling for, and how long it is taking for those homes to sell. I feel those may be more important factors as opposed to what has the listing REALTOR has sold in the area and how quickly.
tony economou
of MA
@
Oct 29, 2008 08:42:23 AM
Selling a house under "Lease to Purchase" in a slow market
Is it wise to do a "lease to purchase" instead of trying to out right sell a house in this market? Thanks
Ruth Hile
of VA
@
Sep 09, 2008 16:27:30 PM
question about renting house
Question? If a person can afford to keep and rent their old home, would that make more sense in this market? We want to move to a small town and this market floored us as we have three houses right around us that aren't selling. We are not landlord types so we don't know what to do now. Thanks.......
mzz
of CA
@
Jun 29, 2008 19:22:39 PM
question about renting house
Question? If a person can afford to keep and rent their old home, would that make more sense in this market? We want to move to a small town and this market floored us as we have three houses right around us that aren't selling. We are not landlord types so we don't know what to do now. Thanks.......
mzz purcin
of CA
@
Jun 29, 2008 19:20:21 PM
Im kids are grow my house to big for me
Im in need to sell my house i have been remolding this home since i bought it 5 yrs ago it alot better but there are some thing still needing done and i lost my job stater a new one wit much less pay some i cant finish but i need to sell . any suggestion.
dcreed
of PA
@
Jun 29, 2008 13:48:43 PM
staging for success
As a home stager, I find it very interesting how I've actually been getting fewer clients as home selling gets harder. The ONLY way your house will sell quickly is by getting another pair of eyes into your home and really getting to the nitty-gritty of making your home all that it is really worth, especially in the eyes of a potential buyer. Even an inexpensive consultation may help open your eyes to some easy fixes that really make a difference. Consult a home stager in your area if you're thinking of selling -- I sold my own home in February 2008 in six days for the asking price because my home was "flawless" to the first person who saw it. But when we moved and the house was vacant, she was very disappointed that new home didn't look as good anymore. Any more questions? In the Atlanta area, please see my website at www.homesolutionsbybecky.synthasite.com
Becky
of GA
@
Jun 29, 2008 12:32:44 PM
I am thinking of down sizing and have a true ranch 3000 square feet which is perfect especially if someone is physically challenged. I go to open houses in the area to compare and have had several realtors tell me what the house is worth. This way I have gained knowledge about a fair asking price. The only real problem I forsee is the buyer being able to get a mortgage.
Sarah Holcomb of IL @ Nov 12, 2008 05:45:21 AM
Michele of IL @ Oct 29, 2008 14:39:35 PM
Kim of VA @ Oct 29, 2008 11:37:25 AM
tony economou of MA @ Oct 29, 2008 08:42:23 AM
Ruth Hile of VA @ Sep 09, 2008 16:27:30 PM
mzz of CA @ Jun 29, 2008 19:22:39 PM
mzz purcin of CA @ Jun 29, 2008 19:20:21 PM
dcreed of PA @ Jun 29, 2008 13:48:43 PM
Becky of GA @ Jun 29, 2008 12:32:44 PM
Robert S. Katz of CT @ Jun 29, 2008 11:48:08 AM
Back to article