Upcoming Foreclosures

Any hints for selling homes in SE Michigan. Ours has been on the market for six months, is well priced. ?

We have reduced price to be one of the lowest priced homes (above foreclosures) in Bloomfield Twp. We need more traffic thru the house.

Public Comments

1. Good luck. Bad economy, and Michigan's is the worst. Perhaps you can make sure you push the good points of the home. Make sure people know it is NOT a foreclosure home so no fixer-ups. Be sure your place looks nice and neat and is staged well. Host an open-house.
2. In this crappy market you'll have to get creative. Do you have a Realtor? How much are you paying him? If it's 6% it's too much. Ask for a new contract and suggest 4%. Consider leasing the house with options, and also tell your realtor you're willing to "hold paper" on some or all of the house.
3. Make sure your listing is on the agency's website with some good interior photos. Most people now-a-days do their own looking on the internet and call their realtor when they see something the like - opposed to back in the day when realtors contacted the buyers with properties. If you can afford to, offer to pay the closing costs - or a partial amount. That is usually a big boost in getting interest. Start boxing up family photos, collectibles, knickknacks, and any extra decor that the room can do without. You need prospective buyers to envision this as their home - and they can't with your stuff all over the place.
4. Well with Detroit gasping its last breath, good luck. Watch those HGTV shows "Designed to Sell" "Get it Sold" they have one after the other that shows how to stage your house to impress buyers and make them feel they could move right in.
5. i suggest a different approach; DO NOT sell the house now--or at most, sell 25-50% of the house. sell for no money down maybe convert it into an assisted care facility. or, maybe.....trade it.
6. In a tough market, you need to differentiate your home from the competition. If listed, don't reduce the commission to 4% as this will drive away buyer agents who want to be paid and who will deselect your house rather than settle for 2%. Also, you have removed your Realtor's motivation and ability to promote your home as well - your best bet is to make sure you are priced in the range of homes that have sold (not that are for sale as they aren't selling either). Bottom line: if it was really priced right, it would be getting showings and offer activity.
7. When my clients ask me this question, I run comparable SALES since their contract started. I sit down with the clients and we review all homes that successfully sold during that time period. Usually something will jump out, like their home has vinyl siding and a crawl space and those selling had a finished basement and brick exterior. Once it is determined what actually sells, it's usually easier to determine what they need to do, in order to compete with those selling. Most choose to decrease their price, rather than install brick exterior or dig a basement.
8. Are you advertising online with a virtual tour? either a virtual tour a tons of pictures will gain the attention of people in other areas. Your in michigan, im sure theres people in other states looking to move into your area.