11 showings no offers

[Thuy Pham-Satrappe]

I've had 11 showings this past weekend but no offers. We've gone through and read the feedback and one of the issues cited more than once was the fact that the windows were older (in an otherwise updated home). Also a few of the windows were painted shut (forgot to check that and getting that fixed)

We plan on going back and asking what their interest level is aside from the windows but I am concerned we lose too much leverage in the negotiations if we do that.

We will be doing an open house this weekend to keep the flow of interest going but would really appreciate any additional insights and/or suggestions!

[Cara Lonsdale]

I don't think there is any harm in asking for additional feedback.  I don't think it dilutes your negotiating power.  Instead, it can place your Seller in a position to resolve issues for new potential Buyers coming through.

If you keep getting "old windows" as a repeated complaint, I would look into replacing them if it is within the rehab budget to do so, or provide a window allowance with a full price offer.

[Sam Shueh]

I suspect there is more to than old windows.  West Coast homes in 2019 take longer to find that one who must have to have it buyer. Often the price is not realistic.

[David Avetisyan]

Do you mind linking to the property? 

This will allow us to better share our prospective. 

To your success! 

[Thuy Pham-Satrappe]

@David Avetisyan here is the link

https://www.homesnap.com/IN/Fort-Wayne/320-W-Oakdale-Drive?a=357540769

[Thuy Pham-Satrappe]

@Sam Shueh the property is in Indiana

[Thuy Pham-Satrappe]

@Cara Lonsdale thank you!

[Mike Dmuchoski]

Looks like a nice, clean, neutral rehab.  At that price point, is it reasonable to expect new windows?  Do the comps support that?  Also, is 1 bathroom common for that area / price point?

I agree with @Cara Lonsdale that there is little downside to gathering more feedback from potential buyers. 

[Matthew Dennehy]

Are they original windows? Being a 1935 house, if they are original windows, they are probably covered in lead paint. Approximately 86% of lead dust in homes come from windows. Lead paint has been gaining more and more traction as an issue recently, and windows are the biggest offender of lead hazards. Vinyl replacements are the easiest way to resolve that issue, but often not cheap all things considered.

I’m not sure if this is the reason for your feedback on the windows as I don’t know the climate of your market. But definitely sometime to keep in the back of your mind.

[Frank Wong]

What are the days on market? If it's 21 days or less don't worry.  People will say windows or say this or that regardless of what they say it always comes down to 1 thing "Price". 

[Alex Dimeglio]

I'm sure that neighbors house isn't helping the sale.

[Mike McCarthy]

I’ve found that when you get a lot of interest but no applications, it usually means the house is overpriced. Basically all those people who are looking for places, have found one that meets their needs and saves them some money.

I agree with others, older windows is code for ‘I found somewhere else’.

I can’t imagine many renters really caring about windows. I don’t ever recall a prospective tenant even looking at mine, much less trying to open one

[Jay Hinrichs]

@Frank Wong  in reality unless its in a hot regentrifying area houses in the mid west to sell to home owners can take 6 months to 2 years to sell.. there is so much inventory that  there is no urgency.. 

painted shut windows are a huge issue.. so is the lead based paint..  and one bathroom is a real killer.

[Jay Hinrichs]

also at that price point that appears that it could go turnkey for rental..  as well to out of state investor.

[Tim Davids]

Within Fort Wayne the neighborhood quality can vary. Do you have comps that are very close by?

Looking at closeby homes you look like your in the ballpark on price though.

Average days on market in the neighborhood?

[Jason D.]

@Thuy Pham-Satrappe showings indicate its appealing on paper, no applications indicates that it doesnt live up to the listing.

You'll have to lower the price or upgrade the property to match the price

[Thomas M.]

congrats on selling your house

[Thuy Pham-Satrappe]

@Thomas M. We didn't end up selling the house. Turning it into a rental

[Account Closed]

Originally posted by @Thuy Pham-Satrappe:

@Thomas M. We didn't end up selling the house. Turning it into a rental

I didn’t notice it was over a month old post and so when I clicked on it and say that it’s going to be a rental at 1,200 a month?  How could you not sell it to a investor if that’s what the rental income would be. 

Dang I would of bought it for that ROI. Is 1,200 a realistic number for that area? I'm legitimately asking as a investor not criticizing the price.