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My husband got relocated to NJ and we need to sell our house in OH. The market sucks right now and we have no equity we just bought the house in OCT. If we break even it will be fine.. How do we go about doing it?
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Posted: Jul 22, 2008 at 2:16 PM
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As everyone says, unfortunately you have to decide what you can afford to let the house go for, as you may take a loss, and price it accordingly. Be honest with your agent... which you must have. Family and friends will try to talk you into selling it yourself, but the average time on the market is much higher for a non-represented home.
This may sound odd, but the best way to help sell your home is to hold off on purchasing another one immediately when you move. The reason being, you are then focusing on both new house expenses and selling the old house which makes the process much slower and extremely stressful. Once you're ready to buy you will be able to do so freely which will make the wait worth it.
Jul 29, 2008 at 12:06 AM
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Natalie;
At least you have great Realtors ready to help you in NJ (Bob & Lisa Hammerstein) who provided an answer to your question. As to the selling part, Gene and Bob are both right...it's about how you price your house that will determine how quickly it sells. Even if that means being upside down, doesn't look like you have many choices - unless you put it up for rent BUT I caution you, it's a nightmare! Here are 3 simple things you can do to get it sold:
1. Hire a Realtor - don't sell it yourself in this market
2. Be agressive when you price it, go below market value
3. Pay a full commission to the agent who brings you the buyer, this will mobilize your real estate community and have all those agents showing (and hopefully selling) your house!
Best wishes!
Maria Jeantet
Redding, CA
Jul 23, 2008 at 12:07 AM
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I agree with Gene. Price is always the key factor. There are many buyers out there and you need to find the "right" buyer and your price is always going to be the determining factor in this market as buyers know they are more in control. At least that's what they think. On another note, have you bought in in NJ yet? I am an agent in northeastern NJ if I can be of any help. Please contact me directly with any questions you may have in NJ. Hope that helps. Good luck. Bob Hammerstein
Jul 22, 2008 at 8:38 PM
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No matter what kind of market we buy or sell in, the first, last and only consideration is....price.
Anything will sell. Anything. It comes down to price. We may not like the amount it has to be, we may balk at the new strategy, but at the end of the day, there is a buyer for our houses, and the dotted line will be signed once the threshold has been reached regarding.......price.
Jul 22, 2008 at 8:15 PM
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