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rated:
I have a 1300 sq foot two bedroom two bath end unit townhome I have been unable to sell. Its in Palm Harbor...its close enough to the beach to bicycle to the beach.
I am on my fourth RE Agent....I tried FSBO without results, paid $400 to go on MLS, now I am with a new agent.
Palm Harbor is the most affluent city in Pinellas County with homes up to $3,000,000....best schools...small townhouse development...pool and tennis 50 feet away.
My Townhouse has been cut in price $10,000 in the last two weeks....but nothing...price now is only $164,500....no offers.
I have little equity in this place so I cannot afford to sell it for much less....

Any ideas?

Member Summary
Most Recent Posts
My point was, OP has publicly been one of those anti-Realtor FSBO types whom the cartel might like to teach a lesson (by... (more)

ganda (Nov. 25, 2016 @ 2:02p) |

If the posted house on Zillow was it (or close to it), being close to the market, Inwould say you can easily rent it out... (more)

MilleniumBuc (Nov. 25, 2016 @ 9:46p) |

No no he is looking for bids. He's come to the right place. $10 and ill pay the closing fees!

BucknifeJones (Nov. 27, 2016 @ 10:54p) |

OP:

I have a 1300 sq foot two bedroom two bath end unit townhome I have been unable to sell. Its in Palm Harbor...its close enough to the beach to bicycle to the beach.
I am on my fourth RE Agent....I tried FSBO without results, paid $400 to go on MLS, now I am with a new agent.
Palm Harbor is the most affluent city in Pinellas County with homes up to $3,000,000....best schools...small townhouse development...pool and tennis 50 feet away.
My Townhouse has been cut in price $10,000 in the last two weeks....but nothing...price now is only $164,500....no offers.
I have little equity in this place so I cannot afford to sell it for much less....
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rated:
Maybe the hoa fee is too high?

rated:
this you?
http://www.zillow.com/homes/for_sale/Palm-Harbor-FL/townhouse_ty...

regardless of if it is or isn't.
You either need to wait longer or lower the price.

rated:
Assuming this is your property OP, what makes you think it appreciated $24K in 2 years?

rated:
stanolshefski said:   Assuming this is your property OP, what makes you think it appreciated $24K in 2 years?
  
The Zillow estimate of course

rated:
There's no secret sauce here. Lower the price and it will sell. That's likely what the four realtors tried to tell you. Sorry to be so blunt.

rated:
stanolshefski said:   Assuming this is your property OP, what makes you think it appreciated $24K in 2 years?
According to Zillow's "Nearby Similar Sales" numbers, 2 other units in his complex with the same/similar floor plans sold for 165k and 167k within the last 7 months.

Of course, that doesn't necessarily mean squat... but I'm guessing that's why he thinks his place is worth $165,000.

rated:
I don't understand what the question is here. Are you just complaining that you can't sell? What are you asking for?

rated:
PaleHorseOne said:   I don't understand what the question is here. Are you just complaining that you can't sell? What are you asking for?
Apparently, he wants people to tell him to lower the asking price.  

rated:
Maybe posting it on Fhatwallet Finance would help?

rated:
iLoveTahoe said:   
stanolshefski said:   Assuming this is your property OP, what makes you think it appreciated $24K in 2 years?
According to Zillow's "Nearby Similar Sales" numbers, 2 other units in his complex with the same/similar floor plans sold for 165k and 167k within the last 7 months.

Of course, that doesn't necessarily mean squat... but I'm guessing that's why he thinks his place is worth $165,000.

  Well OP said it was listed $10k higher, and for all we know those properties could have had significant upgrades or seller assist.

rated:
It is far more accurate to say you cannot sell it at the price you want. Even reduced you are obviously above what the market will pay.

I am amused though, you are only about 3 miles from one of my best friends who bought a huge house in Tarpon Springs -- so I know fairly well where you are. The issue is that there are other homes in the area that are made from the same cookie cutter as yours that are cheaper. Unless your house has a unique feature you need to price based on $/sqft compared to the other units in the development. Townhomes and condos appreciate slowly unless there is a drastic improvement in the area like a new light rail or a major gentrification is ongoing. FWIW my Dallas condo had both, but the light rail had been priced in -- it took 6-8 years of gentrification before our building became "hot" and now it rarely has any units available and new listings are... short. For YEARS there were always 5-8 units for sale languishing on the market even at lowish prices.

If it sold for 140K 2 years ago then you will be lucky to get 145k now. ANYONE looking at the listing will see what you paid and not even bother to call you. This isn't news to you, I know at least ONE of those 4 realtors had the stones to tell you that you were way overpriced.

rated:
RedWolfe01 said:   If it sold for 140K 2 years ago then you will be lucky to get 145k now.
  OP, you say you have little equity and cannot afford to sell it for much less.  So lower the price to $150,000.

rated:
Rent it out at a reasonable price. Its in a good location .

rated:
TravelerMSY said:   There's no secret sauce here. Lower the price and it will sell. That's likely what the four realtors tried to tell you. Sorry to be so blunt.

We're friends with a skilled realtor and he says that few competitors are like that. Sellers will contact a few about hiring them to sell, and most sellers are not interested in his realistic proposals for asking price. Most often, sellers hire the realtor with the highest 'bid'. Some of those are just morons, but the really cynical ones know it's not going to sell and just hope the buyer will stick with them in X months when they realize it's not going to work and eventually accept a listing at a marketable price.

But our friend still does very well, when he does get a listing it moves quickly, so most of his time is spent handling offers and closing sales.

rated:
"I bought a house two years ago and want to sell it now, quickly, without losing money."

Sorry, but you have unrealistic expectations.

rated:
Hire a hot model to sunbathe within sight of the unit whenever there is a showing. That ought to sell it faster.

rated:
belgique said:   ...pool and tennis 50 feet away
Being so close to community pool and tennis facilities is likely a negative for most buyers.

rated:
imbatman said:   this you?
http://www.zillow.com/homes/for_sale/Palm-Harbor-FL/townhouse_ty... 

regardless of if it is or isn't.
You either need to wait longer or lower the price.

  Based on the pictures, the whole house looks very small.  Unless they're just really crappy pictures, I'd bet the house does not show well at all.

And are fireplaces common in Florida?  Maybe they're common, but it looks out of place to a northerner.

rated:
Glitch99 said:   
imbatman said:   this you?
http://www.zillow.com/homes/for_sale/Palm-Harbor-FL/townhouse_ty... 

regardless of if it is or isn't.
You either need to wait longer or lower the price.

  Based on the pictures, the whole house looks very small.  Unless they're just really crappy pictures, I'd bet the house does not show well at all.

And are fireplaces common in Florida?  Maybe they're common, but it looks out of place to a northerner.

  that's 1435 sq ft.  but OP said his place is 1300 sq ft.  i'd think he'd fudge up than down.

 

rated:
You'll need to lower the price and take out a personal loan for the difference.
 

rated:
lekarama said:   Glitch99 said:   
imbatman said:   this you?
http://www.zillow.com/homes/for_sale/Palm-Harbor-FL/townhouse_ty... 

regardless of if it is or isn't.
You either need to wait longer or lower the price.

  Based on the pictures, the whole house looks very small.  Unless they're just really crappy pictures, I'd bet the house does not show well at all.

And are fireplaces common in Florida?  Maybe they're common, but it looks out of place to a northerner.

  that's 1435 sq ft.  but OP said his place is 1300 sq ft.  i'd think he'd fudge up than down.

 

It was the closest I cold find based on the criteria in the op..
Also could be
1) op wasn't totally correct (he/she may be assuming or guessing)
2) zillow is wrong (it says my house is 1440 and it's definitely 1560 sqft)
3) troll, op hasn't come back

rated:
RedWolfe01 said:   It is far more accurate to say you cannot sell it at the price you want. Even reduced you are obviously above what the market will pay.

I am amused though, you are only about 3 miles from one of my best friends who bought a huge house in Tarpon Springs -- so I know fairly well where you are. The issue is that there are other homes in the area that are made from the same cookie cutter as yours that are cheaper. Unless your house has a unique feature you need to price based on $/sqft compared to the other units in the development. Townhomes and condos appreciate slowly unless there is a drastic improvement in the area like a new light rail or a major gentrification is ongoing. FWIW my Dallas condo had both, but the light rail had been priced in -- it took 6-8 years of gentrification before our building became "hot" and now it rarely has any units available and new listings are... short. For YEARS there were always 5-8 units for sale languishing on the market even at lowish prices.

If it sold for 140K 2 years ago then you will be lucky to get 145k now. ANYONE looking at the listing will see what you paid and not even bother to call you. This isn't news to you, I know at least ONE of those 4 realtors had the stones to tell you that you were way overpriced.

  Looking through the sales on Zillow, it looks like one truely comparable property was sold in July. It listed for 155k, and sold for 150k.

rated:
My best advice to you: Take it off market and put it back out in Spring. Not many families enjoy moving during the holidays.

rated:
Anything will sell... the question is at what price. Lower the price and you will find a buyer... even if the house is next to lake tampon.

rated:
imbatman said:   
3) troll, op hasn't come back


He's a senior member and was on earlier. He just didn't reply. Basically when you go through 4 Realtors, they were all probably telling him the same thing, but it's listening skills that are really needed.

You can sell any house for $1, the real problem as others mentioned is that the OP is asking too much. Try dropping it another 10-20k and it'll probably sell at some point. Buyer's don't care what you paid for it or what you need, they only pay market value and they are voting with their wallet and feet. 

rated:
henry33 said:   
imbatman said:   
3) troll, op hasn't come back


He's a senior member and was on earlier. He just didn't reply. Basically when you go through 4 Realtors, they were all probably telling him the same thing, but it's listening skills that are really needed.

You can sell any house for $1, the real problem as others mentioned is that the OP is asking too much. Try dropping it another 10-20k and it'll probably sell at some point. Buyer's don't care what you paid for it or what you need, they only pay market value and they are voting with their wallet and feet. 

  I suspect that realtors aren't showing it either because it's overpriced.

rated:
belgique said:   My Townhouse has been cut in price $10,000 in the last two weeks....but nothing...price now is only $164,500....no offers.
I have little equity in this place so I cannot afford to sell it for much less....

 

  Totally irrelevant. List it for $99,995 and stir up a feeding frenzy among buyers and get multiple offers above asking. Or at least that's what happens on the house flipping shows.

rated:
SlimTim said:   
TravelerMSY said:   There's no secret sauce here. Lower the price and it will sell. That's likely what the four realtors tried to tell you. Sorry to be so blunt.
the really cynical ones know it's not going to sell and just hope the buyer will stick with them in X months when they realize it's not going to work and eventually accept a listing at a marketable price.


 

  
Noooo... I can't believe a Realtor would do such a thing. Your Realtor is on your side!

rated:
Also possible that realtors aren't showing it because OP tried FSBO. Sounds like OP is trying to sell on the cheap. He/she Could also be low on the sales commission and that will also mean realtors steering away clients.

OP. Before you drop the price raise the buyer commission 1%. You'll have every buyer agent in town come and look.

rated:
Stubtify said:   Also possible that realtors aren't showing it because OP tried FSBO. Sounds like OP is trying to sell on the cheap. He/she Could also be low on the sales commission and that will also mean realtors steering away clients.

OP. Before you drop the price raise the buyer commission 1%. You'll have every buyer agent in town come and look.

  
Realtors can only do so much. It's the buyers that ultimately make the decision. When they're priced too high, the buyers have no interest and the Realtors don't want to waste their time showing a house that won't sell. 100% commission means that showing an overpriced home is a waste of time and you make $0 per hour doing so. 

rated:
henry33 said:   
Stubtify said:   Also possible that realtors aren't showing it because OP tried FSBO. Sounds like OP is trying to sell on the cheap. He/she Could also be low on the sales commission and that will also mean realtors steering away clients.

OP. Before you drop the price raise the buyer commission 1%. You'll have every buyer agent in town come and look.

  
Realtors can only do so much. It's the buyers that ultimately make the decision. When they're priced too high, the buyers have no interest and the Realtors don't want to waste their time showing a house that won't sell. 100% commission means that showing an overpriced home is a waste of time and you make $0 per hour doing so. 

  
"Oh that's not a good community" "Heard bad things about the construction standards"

Absolutely Realtors dislike FSBO - they have a cozy 6% cartel they want to cling on to.

rated:
ganda said:   
henry33 said:   
Stubtify said:   Also possible that realtors aren't showing it because OP tried FSBO. Sounds like OP is trying to sell on the cheap. He/she Could also be low on the sales commission and that will also mean realtors steering away clients.

OP. Before you drop the price raise the buyer commission 1%. You'll have every buyer agent in town come and look.

  
Realtors can only do so much. It's the buyers that ultimately make the decision. When they're priced too high, the buyers have no interest and the Realtors don't want to waste their time showing a house that won't sell. 100% commission means that showing an overpriced home is a waste of time and you make $0 per hour doing so. 

  
"Oh that's not a good community" "Heard bad things about the construction standards"

Absolutely Realtors dislike FSBO - they have a cozy 6% cartel they want to cling on to.

  
While it's true that Realtors hate FSBO's, he's got it listed with a Realtor now so they wouldn't really know what it was FSBO before and even if it they did, they'd be dealing with a Realtor not the owner. FSBO don't know what they're doing so you end up wasting a lot of time talking them through the transaction whereas when you're deal with another Realtor, it's more straight forward, both Realtors want to close the deal. I just like to hammer them for fun, they don't know what they're doing so things you say that won't work with a Realtor might work with a FSBO. Or you just give up easy because you know the seller isn't trying to save the commission for the buyer and you know it's going to be difficult and not worth it in the end. 

rated:
henry33 said:   
ganda said:   
henry33 said:   
Stubtify said:   Also possible that realtors aren't showing it because OP tried FSBO. Sounds like OP is trying to sell on the cheap. He/she Could also be low on the sales commission and that will also mean realtors steering away clients.

OP. Before you drop the price raise the buyer commission 1%. You'll have every buyer agent in town come and look.

  
Realtors can only do so much. It's the buyers that ultimately make the decision. When they're priced too high, the buyers have no interest and the Realtors don't want to waste their time showing a house that won't sell. 100% commission means that showing an overpriced home is a waste of time and you make $0 per hour doing so. 

  
"Oh that's not a good community" "Heard bad things about the construction standards"

Absolutely Realtors dislike FSBO - they have a cozy 6% cartel they want to cling on to.

  
While it's true that Realtors hate FSBO's, he's got it listed with a Realtor now so they wouldn't really know what it was FSBO before and even if it they did, they'd be dealing with a Realtor not the owner. FSBO don't know what they're doing so you end up wasting a lot of time talking them through the transaction whereas when you're deal with another Realtor, it's more straight forward, both Realtors want to close the deal. I just like to hammer them for fun, they don't know what they're doing so things you say that won't work with a Realtor might work with a FSBO. Or you just give up easy because you know the seller isn't trying to save the commission for the buyer and you know it's going to be difficult and not worth it in the end. 

  
My point was, OP has publicly been one of those anti-Realtor FSBO types whom the cartel might like to teach a lesson (by steering potential buyers away).

I hate the Realtor cartel It's a consumer hostile scam propped up by lobbying. I hope it's blown to smithereens by the time I have to move next. 

rated:
If the posted house on Zillow was it (or close to it), being close to the market, Inwould say you can easily rent it out for $1500+. Looking at zillow, there are condos in the area at 2 Bed, 1 bath advertising at 1200. If in good shape, could easily rent for 15-1800. Like OP said, it is a highly desirable areas in Pinellas.

That rent, even with a 10% management fee, should cover 140k loan and maintenance fee.

rated:
iLoveTahoe said:   
PaleHorseOne said:   I don't understand what the question is here. Are you just complaining that you can't sell? What are you asking for?
Apparently, he wants people to tell him to lower the asking price.  

  No no he is looking for bids. He's come to the right place. $10 and ill pay the closing fees!  

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