Property On Market for 46 Days - Tons of Showings - Nothing

[Robert Jordan]

One of my Denver investment properties has been on the market for 46 days with only one low ball offer. 4 bd/2 bath 2,200 sq ft. I have had almost one showing a day since it went on the market and mulitple open houses. Around 100 people have come through the house. 

I started at $625k and have come down to $599k. The location is great but the house could use updates. Its not open concept and the kitchen and one bathroom could use some updating. That being said its move in ready. The house also offers an oversized detached garage with ADU office/studio attached. I repainted and installed new carpet prior to listing. Feedback has been all the same. "great location, no dining room" or "great garage, dated kitchen". Based on the comps the price looks right. Is this just a bad time of year to sell? Anyone have any suggestions?

[Robert Jordan]

Originally posted by @Phil B.:

@Robert Jordan lots of showings and no offers means they’re coming because the price is ok but something is turning them off when they get there. Ask them for feedback. Seriously, call people who have seen it and ask them what prevented them from making an offer. People love an opportunity to voice their opinion and it will give you terrific feedback.

I have been reading the feedback on the showing reports. Primarily people comment about the galley kitchen. I am not really interested in doing a kitchen renovation just to sell the place. Its got 4 bedrooms but limited dining space. 2 up and 2 down with almost equal living space on both levels. Great yard and patio. Its been a rental so it need a little TLC to get it to this point. It shows really well. I think with the reduction its priced for someone to come in and do a kitchen renovation and not be underwater. The neighborhood comps on flips is in the $640k-$650 range.