All Forum Posts by: Dennis Lau

it's listed at 156k currently. Home built in 06, 1883 sqft. It is listed in the MLS. Besides the appliances which are new, carpet paint is original from 06. As far as sales, I see a couple recently sold in the last 2 months on zillow.

My home has been on the market since May.  We didn't get much feedback until about 3 months ago when I lowered the price to about 88/sq feet.  On a given week, it is one of the lowest price on the market in my neighborhood ( my source is zillow).

According to Zillow, I have about 63 people 'favorite' my home, and I now get around an average of 1 to 2 showings per week.  This has been going on for almost 2 months now.

So obviously, there is interest, but no one is offering.  I have only had 2 offers so far.  I one offer but they had a contgency that they sell their home first.  This is pending.  The other offer, would have net me a negative 8000, which I couldn't accept. 

I don't know what else I can do to sell the house and minimize my losses or out of pocket expenses.  

Staging: The home is currently empty so it's not the issue of it being 'messy'.  is it worth the effort to pay to stage the house?

upgrades: it's a basic home. 3 + office, 2 bathroom, carpet, stainless steel appliance, laminate countertops.  I know there is an opportunity to upgrade, but will it make a huge difference and worth the cost?  The current sale price(after agents commission) will already net me a negative 3000, and like I said, it's already the lowest priced in the neighborhood.

the entire backyard fence is missing.  This is due to my recently evicted tenants.  Is it possible that the missing fence is turning people off, even though the price is so low?

I had my home as a rental property to one family 5 years. Once their lease was up, i did not renew them and had them move out. The problem is that upon them moving out, they left quite a few damages to the home. I,e all kitchen tile missing, stove missing, various damages around the home. The property management company ended up using all their deposit, but I had to pay an extra 1500 to get the remaining repairs completed. So now, I would like to get that money back. What is the process exactly? The property management company said that since I'm no longer renting my house out through them, they can't act on my behalf, so now I'm on my own. Do I take the tenants to court? If so, how does that work? Is 1500 too little to fight over? Also, I live out of state if that matters

When selling a home, what costs should I expect to pay? I'm trying to get a rough estimate so I know what my bottom line is, when setting a price. I know that there is the agent commission. Besides that, there is also the closing cost. How much is it usually, and is it the sellers responsibility? Besides these 2, what else do I need to consider? I'm not counting things like upgrades, renos, decorations; just fees that are considered after the sale

It is 6 months, so through November. I'm not familiar with selling to an investor 'subject to terms,' but I imagine I'm open to it as long as I can sell the home. The home was previously a rental home and I actually did not renew my tenants with the intent to focus just on selling it. I imagine it would be hard to sell with people still living in it

Thanks. From a cma analysis in late June, here is what I have: My home 1833 sqft. Sold homes: 1850sqft in 67 days. Price went from 113 per sqft to 109. 1968sqft sold in 19 days. Price changed from 103 per sqft to 97 per sqft. 1723sqft sold in 2 days. Price from 103 to 101 per sq ft. 1841sqft sold in 3 days. Price from 92 to 87 per sq ft. Looking at the entire cma analysis, there are 30 sold listings and 7 of them took over 76 to 180 days to sell. The remaining sold in under 60 days, majority within 50 days

Thanks. From a cma analysis in late June, here is what I have: My home 1833 sqft Sold homes: 1850sqft in 67 days. Price went from 113 per sqft to 109 1968sqft sold in 19 days. Price changed from 103 per sqft to 97 per sqft 1723sqft sold in 2 days. Price from 103 to 101 per sq ft. 1841sqft sold in 3 days. Price from 92 to 87 per sq ft Looking at the entire cma analysis, there are 30 sold listings and 7 of them took over 76 to 180 days to sell. The remaining sold in under 60 days, majority within 50 days

I feel like I am in a 'panic' mode now and am needing suggestions on selling my home. Cliff notes: I have a home in OKC/Moore for sale. 1833 sq feet, and it is selling at 170k. 90 dollars per sqft. Year built 2006. It has been on the market since May 11th, with the initial listing price of 179k. About a month ago, it was reduced to 175k, and about a week ago, it was reduced to the current 170k. We probably had 5 showings so far, but absolutely 0 feedback from any potential buyers(900 views on zillow with 17 favorites) I don't live in the home anymore as I am out of state, but I'm still paying mortgage on it; so I'm losing 1500 every month now At this point in the game and it hitting 3 months soon, what should I do? Should I see how much attention I get with the new reduced price? Should I lower the price to my absolute bottom line now and try to undercut all the current listings? My agent is pretty patient about it, but he probably doesn't realize I'm paying mortgage still. He seems to be okay to just wait and see what happens

thanks for replies. Not sure how much info I'm allowed to post, but my home is in Moore, near the warren theaters. I contacted my agent and he did get back to me with a CMA analysis and did say that the location is good, home is good, and I can lower the price if I want. he just said that I am priced competitively. Right now, it's at 93/sq feet.

Overall, I agree with all he says based on what I can see (and my inexperience), but I don't really know how to make my home more marketable (hence, the reason to hire an agent).  

oh boy...all of a sudden, I feel uneasy about this agent, but I'm in contract with him for 6 months.  I'm still paying mortgage on the home  and I live out of state, so I"m literally losing 1300 every month.  At this point (40 days in), I'm wondering if I should lower the house price some more and hope this can get buyers interested.  I've had about 3 showings so far, but no feedback

I know that it varies by state, location and neighborhood, but I was wondering if there is a general rule of thumb on how long is considered reasonable to sell a home? I have a home in oklahoma, built in 2006, 1800 sqft priced at around 175k.  Its being listed by an agent so it is on all the major sites. Right now, I'm about 25 days in, and we had only 1 showing, and only 12 people 'favorited' on zillow.  Is this a bad sign that the home is overpriced?

Should I look at reducing the price, or should I wait for another 30 days?