All Forum Posts by: Herbert Wu

https://www.redfin.com/IL/Deerfield/1444-Hazel-Ave...

Relisted a week ago on MLS with new staging photos and price reduction. Previously on market for two months without professional staging.

Looking forward to your feedback and really appreciated it!

Only open house twice and no one showed up. No other marketing done besides MLS listing. It is in prime location on a deep quiet lot. The home is contemporary style with high ceiling inside. From outside it just looks like a normal two story all brick colonial home. Broker mentioned a few cosmetic fixes and did not identify any major issue.

Hi, 

Recently I bought a new home, but have difficulty to sell the existing single family home  - three months on the market without a single showing. What I did so far:

-  Priced at 700k+ level, but reasonably with similar homes(bed/bath/garage/lot/age) sold/pending in <1.0 mile radius last three months

-  Redfin  view traffic/favorites, Zillow view traffic levels are at or more than that of above sold homes

-  Price reduced once and still no showing(below or in the middle of redfin/zillow robot estimates)

-  Professionally staged and landscaped

-  Listing agent is a friend, but at beginner level from a very small local broker.

Without showing, I can not get any feedback on what might be wrong.  Based on my own weekly local market checkup, i think my listing price(agreed by my agent) is close to actually comparable home sold price. So what should I do here to at least get some showings?

1. Switch to a more high profile agent first to see if it helps? My agent is minority and may be tough to  sell home in a 95% white suburban neighborhood?

2. Further reduce price(assume that my agent's pricing approach is wrong)?

3. Some other marketing efforts before reducing price?

4. Is there some service to help identify what's the cause of no showings with more detailed analysis?

Thanks!

Herbert

Just got back from a trip and here are the updates on this issue:

- My tenant's auto insurance company State Farm requested home ownership proof paper work from the neighbor and she refused to provide. I do not know the reason. 

- Subsequently a few days later the neighbor actually hired a layer and he sent a letter to my tenant (CCed me) that Aug. 26 is the deadline  of repairing the damage or face possible legal action(small business court) without further notice. I am not implicated in the letter. I guess that State Farm attorney may provide my tenant some help on what is reasonable time to do the non-emergency repair if a lawsuit actually is filed by this neighbor's lawyer after Aug. 26 deadline. 

Thanks for the advice!  

I talked to the  lady firmly that the landlord is not liable and she may proceed to sue if she wants to. She seems back down a bit by extending the 48 hour deadline to a week. Hopefully she will stop from here.

Hi Jason,

Thanks very much for the help to make sense of this!

Herbert

A week ago, my tenant caused minor damage(bent a bit) to a neighbor's utility line support beam while driving a rented u-haul. My tenant called police/fire and no safety issue found, and also started the process of insurance paying for the damage repairing. 

But this neighbor thinks the insurance process too slow and insists that my tenant or me to give her credit card number  so that she can use her favored contractor to fix the support beam in next 48 hours, otherwise will file lawsuit against landlord. 

I do not think this person is reasonable.  Is landlord responsible for a tenant's accident? I can not figure out how the landlord can be held accountable in this case where no association rules are violated and it is just an accident and my tenant already took responsibility to fix it.

I live in Deerfield and would like to join. Evening hours better for me. 

Thanks 

Herbert 

Hi Everyone, I live in Chicago north suburb with a full-time engineer job. I bought several properties(single family,townhouse,condo etc) around my area 4~5 years ago when deal was everywhere.  Since then, I did not do anything as deal is bit harder to find. Now I just discovered BP and would like to learn from the pro here.. Flip is a bit hard to me as I have a day job, but buy-hold rental seems better for me. So my goal is getting back in action and growing my rental properties in the coming months and years.

Herbert

Thanks for the information! It slopes from center of house towards edge of the building in north-to-south direction. Maybe an inspector can tell for sure. But I guess I will pass on this one... factoring in the location and other repair costs etc.