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Middleburg, Florida - This weeks most viewed question on Trulia Voices comes from Jennifer, a home seller from Middleburg, Florida. Shes asks, “What do I need to do to sell my home it has been on the market for almost a year?” Lets see what our community had to say.

Thoughts from our Trulia Voices Real Estate Community

Pam Graham, a real estate agent from Jacksonville, Florida said, ” 1. What is the condition of your home? In today’s market buyers have a lot of homes to choose from, so if your home is not in good shape and the price doesn’t reflect that, that can cause very few showings (if it’s noticeable in the photos) or no offers. 2. Location? Are you located next to power lines, backed up to a busy street, next to commercial property? Those could be turn offs to some buyers. 3. Price is pretty much everything. When you want to determine what the value is for your home you need to look at homes that are comparable to yours that has sold in the past 6 months or less. You also need to see what the competition is priced at because that will determine which houses, buyer’s look at. With the amount of inventory out there, the buyer’s will eliminate houses before they even go out to look, if the price is higher than other homes in their criteria. Even though it’s important to know what you owe and price it to be able to pay off your mortgage and closing costs, it isn’t a true picture of value in today’s market.

Scott Godzyk, a real estate agent in New Hampshire says, “Getting your house sold in this market is a mix of the right price and the right agent. You should not have waited 4 months if your agent hadn’t shown anyone your house. that is unacceptable. You first need a current appraisal or BPO showing what your house is worth in today’s market compared to similar properties that have sold in your area. Once you know where you stand on price you can work with an agent to find the right marketing plan for your house. Your house should be advertised every week, your house should be marketed online on the major real estate sites, your broker should be offering a 50/50 co-broke to buyers agents. Good luck with your sale.”

Keith Sorem, a real estate agent from Burbank, California said,”I am very sorry to learn of your situation. The challenge is that when there is more supply than ability to buy, prices fall. Many other homeowners are in the same boat.

There are some key points that will help you:
First, homes are selling. Look at the link below. Over 200 homes have sold recently…the problem is that there are over 700 homes on the market. For a home to sell it’s got to scream value, or buyers will just move on to the next property.

The problem of owing more than the property is worth is very common right now. My recommendation is to have an expert in short sales and foreclosures analyze your situation, look at the local market values, and develop some options for you to consider. One problem with this market is that there are few Realtor’s that have the experience to know how to get a home sold. I would be happy to refer you to an area expert that has a great deal of experience and can walk you through the process so you can decide what the best course of action for you may be.”

Cindi Hagely, a real estate agent from San Ramon, California said, “It all comes down to the three P’s…

Price
Product (your home)
Pitch (the marketing)

I suspect from your comments that the home is overpriced. Who/what are you using to price your home? Are you listening to your Realtor?”

Gene, a home buyer and seller from Bullhead City said, “I am not a real estate agent but I am a buyer and seller of real estate and have been for 40+ years. I buy value. I don’t care what you bought it for; I don’t care what you owe on it; I don’t care if you are getting a divorce and need to sell; I don’t care if you lost your job. Your problems are not my problems. You can get me to buy if the price is low enough. Yes…my attitude sounds outrageously cruel but that’s the way the current real estate market is in many (if not most) parts of our country right now. I don’t care if you sell your house; keep your house; or lose your house. Someone needs to be honest with you…even if the truth hurts. Currently you are competing with many foreclosed homes that are selling for better value (lower price); you are at the mercy of the market. Yes, you can fix your home up, perhaps paint it, increase curb appeal, market it, get another agent, etc etc but in the end, what will sell your house? You know the answer in your heart…but you may not want to face it. The answer is price………..”

“Real estate agent Darren Ahearn from Fredrick, Maryland, said, ” I hear your frustration– I would say that “NOT all agents are the same.” I highly recommend an agent that is CRS certified and can SHOW you a very aggressive marketing plan to help get buyers in the door. If you are priced very competitively (About 7% below CURRENT appraised value) and show like a model home and have no other major defects like location- level lot vs. sloped hill- busy street- etc. then you should be good to get offers in under 120 day market. Buyers don’t want to live in a card board box- they are out there looking for a great deal — the golden rule in any market is- 90% price- 50% location- 50% condition-….”

My Thoughts

This Trulia Voices thread really has some fantastic tips and feedback. Well done everyone.

My tips would be to focus on the aspects of the transaction you can control. The location is already set. So not much we can really do there. The condition of the property may be helped but that really depends on your financial and creative means. It may take time and money to make it stand out. What motivates most buyers is price. You must price it right from the start. Be realistic yet aggressive in today’s market. Time is money and time on the market works against you. Be flexible on the terms and conditions of the deal. Work with a local Real estate agent to get the job done.

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