We put our home up for sale several months ago. Just before that we had found a newer home about 6 miles down the road near a lake that fit our lifestyle better and would allow us room to have more out of town guests. The people who owned that home had been trying to sell their home for almost two years and were happy someone who could get a loan was willing to purchase their home. We understood from conversations with them that they had previously had home buyers look at their home and not have the ability to get credit like they could have just a few years ago. They also had come down on the asking price significantly already. So we made a deal, signed a contract, with the contingency we could sell our existing home.
Our realtor came to our home, got photos, discussed price and put our home on the market. We had a repair man come over and do some small items we believed needed doing to make the home more appealing. Our home is in an established neighborhood very close to both the local high school and middle school. You can get to Lowes, Belks, Walmart, two strip centers, numerous restaurants, and car service within less than one mile. It is an ideal setting for a young couple, older retired couple, or a new graduate wanting to start life. We even got the comment from people saying " why would you want to move you got such a good location". Yes, it is a good location, but we needed some additional items that were more important to us now. In the end we set a price that the realtor deemed would make the home attractive. We also made it clear we were most negotiable. So anyway we were set for selling our home and it went on the market. We were ready to move.
Well were ready to move so we thought. Over three months passed and our full level of activity has been exactly two onsite visits. One about one week after the home went on the market and another when we had an open house about four weeks ago. There has been several drive by looks and people picking up our printed material at the street. No offers, no would you considers, no nothing. We considered what to do and better yet what we did wrong. Frankly nothing after talking with our realtor and other people trying to sell their homes.
We have now taken our home off the market. I suppose we now understand better the plight of others who are trying to sell homes in this market and the market we live in is relatively good. I have been told since taking the home off the market how to sell our home and I expect the person is right. The how to sell goes like this, find the home you want to buy, tell the person you will buy their home at a significantly reduced price and that you are going to sell your home at a significantly reduced price, therefore the relative sell and buy price are about the same. What the person was saying that even in this low interest rate loan environment that home prices are still too high. Frankly that is the truth. We build too many homes and sold them to people who should not have been buying bought them due to too easy loans dictated by the federal government. So unless you are really lucky consider the fact you are going to live in your current home for awhile and be happy you own one. Look like we went back to the future and returned to what our fathers and mothers knew in the 1960:s homes are for living and not trading or moving up. They knew how blessed they were, we should too.
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