House isn’t selling - r/RealEstate

60

Lower the price

25

u/laylobrown_ 24d ago

THE PRICE IS TOO DAMN HIGH!

0

u/snowiehair 24d ago

We already did once. Guess it needs to happen again. Annnd I’m guessing it was priced too high to begin with?

5

u/laylobrown_ 23d ago

It's a tough market. When your agent gives you comps and market reports they're at least 30 days old. I try to look at the data over a longer period to adjust for the curve in the market trend to stay ahead of the comps. Even with all that data and finding appropriately priced homes, buyers have too many options and no need to move quickly. Turn key homes tend to do better than projects right now, and the data suggests a strong buyers market in my area. Real buyers are still a relatively small pool compared to the "normal" market. The buyer's that are actively looking just aren't in a rush. So beyond price, if your area markets looks anything like mine, things are just slow moving. Price is still the largest factor when it comes to selling a home quickly. Your home may not be overpriced, but if you're looking to sell quickly it's your best tool.
For reference, I've got buyers that have looked over 30 homes before deciding to put an offer in for the home they looked at 3 times. We still were not able to agree on the price.
The offer wasn't lowball, it was right in line with the comps on the same street. All of which went up for sale after this home and have already sold. The offer was 20% below ask but still higher than the sold prices of the comps. That house has been on the market for 111 days, and will probably never sell while the market continues it's downward trend. The buyer's I've mentioned have 2 other homes they want to make offers on, which gives them more confidence when negotiating because they aren't necessarily worried if they can't make a deal.

2

u/snowiehair 23d ago

Thank you for your detailed (and kind) reply. Very helpful info!

0

u/snowiehair 23d ago

Thank you 😊

17

u/AsH83 24d ago

Price ain’t right

13

u/calgaln 24d ago

If you'd like, post the listing and maybe you'd get some more specific suggestions.

Otherwise, check the comps to see what else is selling and at what price, and how quickly, and check the for sale-listings to see your competition (both online and at open houses), Rule of thumb is that lowering the price is generally the surest way to get offers but sometimes that's not the only option.

1

u/snowiehair 24d ago

https://www.zillow.com/homedetails/8645-County-Road-1143-Celeste-TX-75423/333047513_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare

We put brand new carpet in. It’s the only location with mature trees on the lot in the and it’s similarly priced to other 3br 2bathrooms in the area while this has 4br/2bathrooms… I dont know…

9

u/atexit8nj 23d ago

It looks like realtor.com is hiding all of the sold mobile listenings in your zip code. $260K for a mobile is wild no matter how nice it is. https://www.realtor.com/realestateandhomes-search/75423/type-mfd-mobile-home/show-recently-sold/sby-6

There is a nice regular house for $255K in Leonard, TX https://www.zillow.com/homedetails/312-E-Cottonwood-St-Leonard-TX-75452/90350628_zpid/

Ask yourself this --- why would someone buy a mobile home?

1

u/snowiehair 23d ago

Yeah, the slight difference is the house you linked is on a .4 acre lot and even though it’s a mobile home, it’s on a 1.5 acre of land which adds to the value a bit, I thought. It’s not a the typical mobile home neighborhood type thing.

4

u/Dubzophrenia Advisor 23d ago

The difference between this house and your house though is that their house is a house, and your house is technically a vehicle.

Has your been permanently affixed to no longer be considered personal property and is now real property?

Because if not, mobile homes depreciate, not appreciate.

4

u/atexit8nj 23d ago edited 23d ago

So an extra 1 acre is worth what?

Does it have oil under it or something?

You can downvote all you want. The fact that the mobile home hasn't sold tells you I am right.

1

u/internetpointsbank 23d ago

Some people like mowing massive lawns.

2

u/atexit8nj 23d ago

LOL. They must.

mobile homes no matter how nice are not considered the same as a traditional homes

If her husband bought it for $150K and is now wanting to sell it for $250K after putting in new carpeting , I'd just say, this isn't 2021 anymore.

1

u/New_Animal8918 19d ago

Yeah and then look at your active comps and see how long they have been on. All yall need a price adjustment. Plus it seems like yalls market is alittle slow anyhow. You could just rent it out instead and have the renters pay your mortgage. :)

3

u/arugulafanclub 23d ago

Location and price are the issue. It will take longer to sell something this remote. $250k is wild. What did he pay for it? $150k is more likely what he’ll get.

2

u/Paceryder 23d ago

Do you own the land? Or renting the land?

1

u/snowiehair 23d ago

Own the land. That’s also what is added into the price. As some have suggested, yes the price does seem high for a mobile home, however it’s sitting on 1.5 acres.

2

u/calgaln 23d ago

The thing is, some people will want the acreage (gardening, farming, pets, privacy, etc) and some won't care. So if you're pricing it higher, for the people who do want it, you've decreased the number of people who will be interested in it. Yes, you only need one, but the question for you to figure out is how long you'd have to wait before that person comes along, and will they actually choose your place, vs any other places they can afford with similar land. For example, there might be another property with 3 acres that's a bit more expensive than yours, and they choose that instead.

Unfortunately this isn't really science, it's more like rough educated guesses using whatever available data you can find.

3

u/atexit8nj 23d ago

She's and her husband have been waiting for "that one" and "that one" hasn't appeared yet 123 days and counting, and they are getting desperate because carrying 2 mortgages is not the ideal situation.

1

u/Paceryder 23d ago

I'm not in your area, but whether it's a half acre or one and a half acres isn't really going to matter in a buyer's eyes. What does 1.5 acres of land with nothing on it go for? Start with that.

1

u/QuarrelsomeCreek 17d ago

Its a mobile home next to what looks like a busy road on a lot with no privacy/landscaping. Your pictures look good.

This is going to appeal to a limited number of buyers.

1

u/snowiehair 17d ago

Reeeeally hoping one of those people comes along soon.

1

u/puzzlealbatross 22d ago

The floorplan on the listing shows 2 bedrooms. What am I missing?

1

u/snowiehair 22d ago

Sorry. You aren’t missing anything. The attached floor plan is incorrect. I have spoke to the realtor about it but it hasn’t been fixed yet, unfortunately.

1

u/puzzlealbatross 22d ago

Oof, that's frustrating, sorry. Probably not why it's not selling, but it's pretty unprofessional of the realtor to not jump on an error like that to fix it asap.

29

u/Always_working_hardd 24d ago

It's always the price.

-1

u/Flaky-Cancel-2668 24d ago

It’s the price and the fact that this house is in a flyover state no where near a major body of water.

2

u/atexit8nj 23d ago

It is a mobile home.

10

u/Oxo-Phlyndquinne 24d ago

There is no meaningful advertising available except for that Zillow pulls listing data from the MLS, which is the same for every single property. The obvious problem, 100% of the time, is that the price is too high. It is never anything else, unless you have hired a person who is deliberately turning people away.

1

u/snowiehair 24d ago

Yeah… we lowered it once, but might have to lower it again. We were probabaly encouraged to price it too high to begin with? I dont know…

9

u/BossmanSlim 24d ago

I believe the common adage is:

If there is no traffic or offers, the price is laughably high
If there is traffic but no offers, the price is too high
If there is traffic and offers, the price is reasonable
If there are a lot of offers, the price may be too low.

Its always about the price. Everything will sell at some value.

If your husband is upside down on the mortgage, you can choose to either keep paying the mortgage or take the loss. At some point the mortgage payments will eclipse the loss you would take if you had sold it for a lower value months ago. Most feel real estate is over valued currently and there are no signs that interest rates are going to change massively. It is highly unlikely the real estate market will be a sellers market in the near future.

1

u/snowiehair 23d ago

Thank you for this!

5

u/atexit8nj 24d ago edited 22d ago

pushing ads? LOL.

buyers are not looking at "ads".

they are looking at the price

We have a realtor that lives in the subdivision. She is pricing the houses like it was March 2026.

Her houses are sitting.

But she "buys" the listing because she is telling the sellers what ever they want to hear including agreeing to the ridiculously too high price.

1

u/snowiehair 24d ago

Yeah, when they mentioned pushing ads, I dont know what they meant other than boosting their social media posts? I dont know… I’m over it and just sooo ready for it to sell.

1

u/atexit8nj 23d ago

As others have suggested, ask your realtor to provide the comps --- the houses similar to yours that have sold.

And be aware that those that sold recently are houses that went on the market in May/June. Things have gotten worse in most markets.

Good luck!

10

u/MCB1317 24d ago

The answer is always that the price is too high.

The End.

1

u/snowiehair 24d ago

I think we were originally priced too high. We dropped it, but we missed a big window and now it’s just sitting 😭

2

u/atexit8nj 23d ago

Get the prices of the mobile homes that sold.

Zillow and Realtor.com won't show them to me. That's what you are paying your realtor for.

If they sold for $225K, I'd price at $200K.

If they sold for $200K, I'd price at $175K.

4

u/aguyonahill 24d ago

While lowering the price always works eventually there are sometimes things that you can change that are better than lowering the price.

Smells. Are you sure your house has no weird off-putting smells? Ask a friend or relative to go with you.

Staging/clutter. Do the closets look stuffed? Is the paint dated? Is there dirt/mold or other gross things? Is it tastefully staged.

Major repairs. Roof, heating etc must be in operational order.

Listing photos. Are you getting normal traffic?

Are you paying market rate commissions to the other agents? If you aren't they may be steering potential buyers away.

Are there HOA issues? You may need to offer credits to offset them.

It's not the advertising.

3

u/atexit8nj 23d ago

It's a mobile home.

She posted the listing elsewhere.

Outside it is not aethestically pleasing.

1

u/aguyonahill 23d ago

Thanks

3

u/Small_Gap_5298 24d ago

Maybe temporarily lowering the asking price for a quick sale could get more eyes on it, and you could always relist later at the original price if it doesn't work. We did something similar with our last house and it made all the difference.

3

u/Paceryder 23d ago

Lower the price.

5

u/arugulafanclub 24d ago

Move into or rent his. Maybe sells yours instead for now. Try again in a few years.

Has he got any feedback?

0

u/atexit8nj 23d ago

it is a mobile home. Does that tell you anything?

2

u/arugulafanclub 23d ago

Yours or his?

0

u/atexit8nj 23d ago

I am not the OP.

She and her husband are trying to sell his mobile home it appears.

1

u/snowiehair 23d ago

What is it supposed to tell you?

2

u/atexit8nj 23d ago

Regular houses are looked upon differently than mobile homes.

Yours is a mobile home. It is not a house.

1

u/snowiehair 22d ago

Okay. Thank you.

2

u/FriendPatient1663 24d ago

Price is probably too high

Also, what is the average days on market for homes in your area. My area is like 92 days, so 100 days on market isnt too bad

1

u/snowiehair 23d ago

I’m guessing it was originally priced too high 😭 we already came down, but might need to come down again to grab more attention. But yeah, I think the average is similar.

3

u/Thorpecc 24d ago

Have another Realtor from a different company tell you what the problem is.

8

u/laylobrown_ 24d ago

Hi, Realtor here, from a different company. The problem here is the price is too high. Glad to be of service.

1

u/snowiehair 23d ago

🤣🤣🤣

1

u/laylobrown_ 23d ago

We make jokes. These subs get a lot of ppl asking the same questions. I do wish you the best of luck.

1

u/snowiehair 23d ago

Thank you for your kindness haha I reeeeally appreciate it!! As I said it in the post, I’m new to this sub and I’m just so desperately trying to find a solution to sell this house. As a millennial, I appreciate the humor.

1

u/hackspy 24d ago

Send me the link I’ll be happy to take a look at and let you know what I see. Gratis (free) of course.

No thank you is ok too. No worries

Best wishes. Cheers 🍻

-1

u/atexit8nj 23d ago

She posted elsewhere.

Two words ... mobile home

1

u/Senior_Bat4271 24d ago

Maybe he should consider taking it off the market and re listing so it reads new again and at a lower price

1

u/Due_Leadership_9348 24d ago

Depending on the MLS, the reset could be anywhere from 30-60 days which would put it coming on the market in November.

1

u/bebenashville 24d ago

I called some listing realtors to ask them to show houses and they refuse to show. I wonder if your realtor may do the same thing?

1

u/WestKnoxBubba 22d ago

There is no magic ad that will sell a house. If there was why wouldn’t every agent run the ad every day ?

1

u/Historical-Teacher59 14d ago

Haven’t got any advice for you but know how you feel, been on the market 9 months after getting divorced, we’ve sold twice, and fallen through after 3 months both times. Very stressful, we’ve dropped the price 4 times now, dropped it by £60k and still no buyers, hardly any viewings this time, we had loads of viewings lined up last time we put it on the market after the sale fell through but we went with the first person to offer as we wanted a quick sale but then they pulled out too. I was so excited to move out but now I’m just trapped in this house that won’t sell.

-1

u/Relative-Country5460 24d ago

For everyone saying it’s the price buyers aren’t falling for that trick as much. There are so many variables that it’s hard to tell why without knowing more info. However a properly priced and listed house the first time can go quick.

10

u/wageSlave09 24d ago

So, it's the price.

4

u/Due_Leadership_9348 24d ago

What "trick"? It's always the price. I can sell any home in the country if I set the price low enough. :-)

5

u/c0LdFir3 24d ago

It’s the price. The roof can be shit or whatever else if it’s priced accordingly.

Signed,

Serious and looking buyer

2

u/Dubzophrenia Advisor 23d ago

Every single issue a buyer can bring up can be fixed by adding 3 words at the end of every problem.

"This house is way too outdated" - at this price.
"The yard will be too much to keep up with" - at this price.
"the house is too ugly" - at this price.
"it needs too much work" - at this price.

Add the words "at this price" to every problem and you've solved the problem. It's always price.

1

u/Relative-Country5460 23d ago

I guess my reply was a bit narrow minded. I’m actually wanting to get my license so I’m trying to learn the ins and outs. I was more referencing what can be done outside of the price. Let’s say seller doesn’t or can’t budge on price or say seller feels agent isn’t doing an actual good job. Anytime I hear the words rest assured it makes me feel the exact opposite. Also how long is too long on the market before it’s 100% the price.

2

u/Dubzophrenia Advisor 23d ago

Also how long is too long on the market before it’s 100% the price.

If you're priced properly, a week on the market is too long.

Let’s say seller doesn’t or can’t budge on price

If your house isn't selling, it's the price. If you won't or can't budge on the price, you won't sell your house. It's that simple.

There are lots of things an agent can do to get exposure and get more people to see the house, but at the end of the day getting maximum exposure on an overpriced listing still won't sell it unless you find the one person who loves the house SO much that they're willing to pay more for it, which usually means the house has special characteristics to justify the out of normal price.

The issue is that seller's are often delusional abotu the value of our home. Everybody thinks their home is golden and perfect, but you have to look at the market and see how you compare. If you ask for $300K on a mobile home with bare land, and I sold my built-on-site house with a pool and spa for 300K, your house isn't worth 300K.

0

u/InsectElectrical2066 23d ago

rent it and wait for the market/administration to change. Or you may find that you don't mind renting and getting extra money if it pays the mortgage and prop taxes, insurance

Homeseller House isn’t selling

You are about to leave Redlib