I'd pull the listing and then re-list in 4-6 weeks. No one goes shopping for a new house during the holidays! It was a poor time to list your house in the first place.

Re-evaluate your comps when you re-list and then price your house accordingly.

We didn’t want to list our house during the holidays, but we needed to get on the market quickly. Unfortunately we have to sell our home and get into something that will better suit our financial situation. I do realize the timing is poor, but sometimes people don’t have much choice :(

Ya, based on the timing of the original listing I wouldn't lower the price yet. Not too many serious home buyers out looking over the holidays though it only takes one. We did once look at a house the weekend after Thanksgiving, bought it and closed before the end of the year. Had some other friends with a looker in December and that person bought the house after the new year. It does happen but obviously not happening for you yet. You could take it off and put it back on but if you weren't willing to wait until after the new year I suspect you're not willing to take it off the market either.

If I needed to sell, I'd drop the price now. Or take it off the market.

If you had all those lookers and great feedback but no offers, either they were all just lookers or looking for a bargain.

Your house may be priced appropriately for your market, but if you have to sell, that trumps everything else. (Reducing the price by $5K is only a 2.9% drop. Not much. Depending on your urgency, at least 5% would be better.)

I agree with Anglo. It is probably more of a timing issue, but can't tell or sure without comps. Now is not an ideal time to sell. Unless you have some urgency that overrides price, just pull it for a few months and relist in early April at the same price. That's long enough for people to know you just won t accept a lie ball or buyers may be even unaware of previous listing. It is also in the prime selling season,

If there is serious urgency (about to go into foreclosure), then price it at a "fire sale" price and get rid of it. When one is in a financial bind, that is really the only thing to do. Someone will snap it up if it's priced truly attractively.

Thank you all for the advice. It’s greatly appreciate it. Fortunately, we are not going into foreclosure, and are still making the payment. It‘s just very difficult for us to make it. We are just trying to get sold quickly so we can purchase a more affordable home.

We have decided to keep the price the same for a bit longer. If we haven’t seen some sort of activity in a week or so, we will be dropping the price.

Agent is posting occasionally to FB. I’m not sure what else is being done on her part to actively try and sell the home. I suggested a brokers open, but she mentioned them not normally resulting in much of anything.

Denitas comment is worth real money, and it was given to you for free. I hope you understand what she is saying to you. Can you answer her questions? You might not want to publicly here, but you want to answer them.

A realtor posting some random thing on FB is not really going to help market a home.

Don't let it sit too long without action. You don't want to be that house that sells all the other houses in the neighborhood.

Good luck!

I think in general the market is slow over the holidays and until after super bowl when it picks up again. If you need to sell fast having a lower price might help you with those that are really looking and need to buy now.

I agree answering Denita's questions even if just to yourself and then finding answers from your realtor to those will help you decide too if you need to lower the price.

One other question I'd ask your realtor is what is the normal amount of houses that sell in a given month in the price range where you are listed on your MLS and then how many houses are for sale in that range. This will tell you in general how long it would take to sell all the inventory in that range. If that is longer than 3 months then you want to make sure yours is priced at the lower end of that to make sure your house is attractive to buyers in that range to sell faster. This is assuming you are priced based on comps into the right range to start with.

Denita, thank you for your response. I feel like everything has picked up for others but hasn’t at all for us. Our realtor relisted our home yesterday at the same price point. She was certain we would see an influx in interest after doing so. At this point we have not seen any difference.

Our staging photos do not include any holiday items. Photos are bright and airy, free from clutter. I was very impressed with the photographs that were taken.

Honestly, the only marketing I’ve seen is dome shares on her FB page. I know she hasn’t actually shown our house at all. I don’t feel like much else is happening. What kind of marketing should I expect from her?

Our feedback has been great, but I guess now that I look at it, it’s very vague. We use the showing time app, and it seems the agents are just filling in the main points.

House showed well. Buyer not interested. Buyer interested. Price is right, etc. But there was no real feedback that had any sort of helpful details.

Other receht homes in our in our neighborhood have sold betwee $159k and $180k. So, I think we are priced okay, but feel like we should come down a bit. We don’t have the updates as some of the others homes. The three houses that were recently sold in my neighborhood all had offers within one week.

I feel like I’m at a loss. Should I be looking into a new realtor in my area?

Did the 159 house have updates? You have to account for updates in the price/appraisal and not just what they sold for. It sounds like you may be over priced for your house.

If you had 10 showings in the first two weeks when the house was priced at $170K, with no feedback about any major hurdles to an offer (condition, location, etc), the market has spoken on that house at that price.

The one for that for $159 was even more outdated than ours. Ours isnt outdated throughout. We do need new carpet. Ours is not nasty or dirty, it’s clean and white, but it’s old. We don’t have stainless steel appliances like some of the others. our front bathroom is pretty dated. However we Did put fresh paint on the walls and installed new toilet in both bathrooms. The tile floor in that bathroom is old And sort of vintage looking. Our master bath was updated.

I agree with Denita about not pulling it. That is a very old tactic and doesnt work any more with zillow and other online sites. Everyone can see the listing was withdrawn and relisted. It just doesnt do a thing. Ordinarily, I would agree about the timing and marketing over the holidays, however, my area has been slammed. It is like a spring market and its full blown winter. People want to buy before the interest rates start going up again. I think its definitely price. People dont usually say the price is too high. They dont see it that way, they see it as they are seeing bigger, better homes in the same price range so they choose something else. Its up to you and your agent to recognize that as the price being too high. I typically go 30 days or 8 showings. If no offers, I reduce the price. You are past that point! Come down a little.

Based on your most recent post OP, I think you may need to make a price reduction.

In your price range (here) that would be a first time buyer home or possibly a move up buyer from a townhome or condo or a buyer that is downsizing after the kids have grown and gone (empty nester type). Given that information, that particular buyer profile generally doesn't have the additional funds to make changes/improvements after they close so they choose a home with the features they prefer already in place. Every market is different. Your Realtor should be able to tell you the buyer profile that will be most interested in purchasing your home and direct their marketing efforts toward that buyer.

As to the feedback, your agent has to get in touch with the showing agent to get additional information. It is normal for the showing agent to be vague but that is your agent's cue to get in touch for more detail so she can modify the marketing and price. By get in touch, I mean she has to actually contact the showing agent (call) to get details. If she doesn't, she will be fumbling in the dark.

Linda Lee and tackykat above are right.

The fact that you had 10 showings in the first two weeks means there were buyers waiting for homes to come on the market. You did not receive an offer, the buyers are speaking loud and clear that they are not seeing the value in your home. The price is too high for what it is offering.

We dropped the price early in the week down to 164. We were going to drop to 159, but realtor said to try the 164 first. We’ve had one showing since the price change. I’m really starting to worry about our listing going stale and the fear of people just passing it over is real. Realtor mentioned open house, but I’d rather try brokers open. She was quick to tell me she’s had no luck with brokers open, but never gave me a real answer about her luck with open house.

Its early in the process. The first two weeks of a new listing are the best it is ever going to be. You will never get 10 showings in 2 weeks again. Just sit tight and let your price adjustment take affect. IMHO brokers opinions are good when its a new listing. You have already had 13 brokers come thru. It depends on your market, but there are times when public opens give you a better bang. I would trust the advice of my realtor. Its why you hired her.

The past week has seen a surge of for sale signs in this area. While it may not work in other areas it seems that when there are several signs people want to compare the houses that are available in an area. Hope there will be an increase in possible purchasers.

In General,

No Showings, no offers... way overpriced.

Some showings, No offers... overpriced

Lots of showings and no offers... almost there

Lots of showings and at least one offer... Perfect!

Sounds like your home's lack of updates is being used in comparison to homes that do have these items. Buyers will choose the "live in ready" home almost every time over a comparable home at near the same price. Lowering your price is the option that will get you an offer.

Agree-people these days don't want to have to update things--they see dollar signs when they see outdated baths and kitchens.

Your carpet is old and your bathroom is dated, you say, which leads me to believe there are more cosmetic issues as well.

I have a policy that I never reduce a price; I simply keep improving until it sells. I've sold every house at (or very close to) top dollar and never dropped a price. Maybe buying a discount lot of hard surface flooring (I don't know what your house looks like, but something age appropriate) would really pay off in a much higher sales price. Is yours mid century? Play that up. If not, get some nice, expensive looking LVT flooring that looks like hardwood and put it throughout or at least in the main rooms.

I once bought a huge lot of hardwood flooring designated "second quality" very cheaply. I had to hire a teen to help me pick through hundreds of boards, many trashed, to obtain enough to get the house done. It was a small house, so I prepared the material that I had delivered and then hired a hardwood installer. I got new hardwood throughout for a couple grand. Sold immediately.

Light fixtures are cheap upgrades and often overlooked. Use something era-appropriate.

Paint, flooring, and light fixtures sell houses. You can get that carpet ripped out and replaced for a few thousand dollars, or even a few hundred for a remnant (unless your house is enormous).

MCM Love --> I'm curious why you have a policy of not adjusting your price, and instead making improvements until the house sells?

Is this part of your business reputation?

I just think it is really important to get the price right the first time around. There are loads of agents who do the "price high, we can always lower it" thing, but I think that is a disservice. No, I'm not an agent. I just do houses and sell them on kind of a slow pace.

I will continue to make small improvements until I sell, but mine usually sell immediately. I understand that if a recession or some serious event occurred, that may alter my view, but this has worked well for me for a very long time.

10 showings in 2 weeks and no offer but no complaints- that's price. In our marketplace you can't really take it off and put it back on as a new listing- if you use the same agent, you have the same number and the same days on the market. Even if you use another agent, the first thing I do when I work with a buyer on an offer is to see how long/ how many times its been on the market. That strategy doesn't work well