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shawnahampton

Lots of showings, no offers -- feedback: Price is good

Shawna Hampton
5 years ago

I'm trying to sell my 4-bed, 2.5 bath home in a hot neighborhood in a so-called seller's market. It's been listed for 17 days, we've had 20+ showings, two open houses. And no offers.


We started out listing at $280K. The majority of the feedback from the showings indicated the price was good -- a few said the price was a "bit" high. We then lowered the price after a week to $275K. Again, after the price adjustment the majority of the feedback has been that price is good. A few have said, again, it's a bit high. The majority of the feedback on the actual house has been that it's beautiful and shows well (I'm an interior designer, so yeah it looks amazing). Just one or two people have said they wanted a finished basement (then why come look at a house with an unfinished walkout? it says so right in the listing!) or that they were disappointed there are no granite countertops. One person said they didn't like how many houses there were around ours (huh? you're looking at houses in the suburbs!) Here's the Zillow listing: https://www.zillow.com/homedetails/20622-W-126th-Ter-Olathe-KS-66061/91086120_zpid/?view=public


Our neighbors three houses down sold a month ago. They had 10 offers after 24 hours on the market, listed for $285K and sold for $295K. House appraised for $300K. Their house was a 4 bed, 3.5 bath, three car garage. Again, no granite but finished walkout. Those are the only differences (although pretty big ones), but we figured pricing it $20-25K below their actual sell price/appraisal would be appropriate given those facts. Here's their Zillow: https://www.zillow.com/homedetails/20658-W-126th-Ter-Olathe-KS-66061/91086119_zpid/


We even hired the same listing agent they had. That agent provided us a CMA saying our house was worth $276K.


There are very, very few houses on the market within 2-3 miles of mine, and most of those are 10 years older and have one less bedroom. Almost ALL of them have a finished basement, though.


I'm kind of at a loss for what to do next. Lower the price again? How much? Wait it out and get what the house is actually worth? Finish the basement and then list again? Stage it better? We're selling because we want to move out of state -- we're not really under any pressure to sell so we have time.


Our agent has not given us much help or advice, even though we've begged him to tell us what we need to do to get what we're asking.


Thoughts? Ideas? I know the conventional wisdom is if there are lots of showings and no offers, then it's price. But something in my gut tells me there's more going on here -- although that could be my own wishful thinking. A reality check, if warranted, is welcome.


Thank you!

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