house not selling - Posted by bill smith

Posted by Mary in CA on May 04, 2005 at 20:45:11:

Just a thought. There’s a group here in CA that demolishes homes and resells the pieces and parts as a charitable organization to keep building materials out of landfills. Maybe there’s one near you?

Here’s the CA one . . .

At one point they had 100s (1000s???) of sf of used bowling alley finished wood flooring for sale from the de-commissioned naval base at Alameda or Vallejo.


house not selling - Posted by bill smith

Posted by bill smith on May 03, 2005 at 16:57:34:

i am wanting to sell off a couple of my rental homes and upgrade to a bigger multi unit. our local economy is not good at all right now about like everywhere else. my houses are priced good and in pretty good areas and in good condition. i have it listed with a realtor and have spoke with a couple of others and they said no houses are really moving right now. i have lowered the price a couple of times and dont want to go any lower. right now i am just waiting it out hoping things will pick up but it is not looking to good.

thanks for any help

The economy is bad ??? - Posted by Rob Ricker

Posted by Rob Ricker on May 03, 2005 at 21:43:07:

Where are you located? I’m not sure about the economy where you are, but nationwide it’s a real estate boom right now! What makes you think the economy is bad “everywhere else”?

Read David’s Post Again - Posted by phil fernandez

Posted by phil fernandez on May 03, 2005 at 17:44:02:

Excellent post below by David Krulac. At the right price and or terms any house will sell. I agree with what David said. If it hasn’t sold in 90 days the price is too high and or the terms are not right. Make the adjustment so you can sell the property.

Another thing. Sounds like your realtor is pretty negative about the market. That negativity gets conveyed to buyers in the marketplace. If all is doom and gloom ala Pookie then why would a buyer want to buy.

if a house hasn’t sold in 90 days… - Posted by David Krulac

Posted by David Krulac on May 03, 2005 at 17:21:12:

and is properly advertised, then it is priced too high. It doesn’t matter if the market is exploding or imploding, at the RIGHT price there are allways buyers. The worst period of time in real estate that I personally experienced was 1981 when mortgage interest rate were about 18%, properties sat on the market for a year or more, and over 50% of the real estate agents quit because they we’re making any money. But during that time I was still buying and so were others. There weren’t as many bueyrs but there were still buyers.

Let’s say that your house is worth somewhere between $1 and $1 million dollars, obviously almost all house in US fall into that range. Your house is probably worht less than $1 million but more than $1, right. You need to find that mid price that will sell the property. If you offered the property for sale for $1 today, you’d have a slew of offers, just from people on this board. Even I maight want to put in an offer. (btw I currently have a house “for sale” for zero dollars, but that’s another story.)

The real estate market around here is still very good low interest rates, well priced house having multiple offers often more than asking price. So things are pretty good. Every property no matter the condition, the time of the year, seller’s market or buyer’s market will ALWAYS sell at the right price.

What about selling to existing tenants?
What about CFD, lease option, nothing down, rent to own?

If you don’t want to sell for the right price even if that price is “low”, then kep the properties. Real Estate is cyclical and the market will probably rebound.

Re: The economy is bad ??? - Posted by michaela-ATL

Posted by michaela-ATL on May 04, 2005 at 06:41:56:

I bet there are lots of areas in the U.S., where the economy is still down. Atlanta still hasn’t recovered after the real estate crash 4-5 years ago.


Re: Read David’s Post Again - Posted by Nate Andree

Posted by Nate Andree on May 03, 2005 at 19:36:44:

How about owner financing the deal? All kinds of options there. Carry back the note for a nice cashflow, sell the note down the road to a note buyer, or sell the note at closing to a note buyer for a small discount and be done with it. By offering owner financing you will attract a bigger pool of buyers which in turn might help you sell your properties quicker. Food for thought.



Re:David, I will “buy” your house! - Posted by cathleen (TX)

Posted by cathleen (TX) on May 03, 2005 at 21:50:25:

I dont know how you “sell” something for “zero” dollars ( isnt it called “give it away”?),but, I will buy it for “zero dollars” I will even let you occupy the home as long as you’d like to once you sign the deed over! :wink:

Re:David, I will “buy” your house! - Posted by David Krulac

Posted by David Krulac on May 03, 2005 at 22:16:53:

here’s the deal, I’m selling a house for zero, iow giving it away for free. new owner must move or tear down for materials. It yours come and get it.