My house has been on the market since March and no buyer yet. My house is concrete block, flat roof, Daytona Beach area, 3 beds/1 bath, 1048 sq feet, year built 1957, recently remodeled, newer eat-in kitchen, new roof, new appliances and carpet. Extra 9x18 bonus room (used to be garage). Nice landscaping. Listing Price $153,900.

First agent - we fired him after two months listing due to no communication. With him, we only had one offer that he turned them down without notify us. Second agent we hired this May and very pleased with their jobs. We get showing about 2 per weeks and so far, no buyers. Our agent asked other buyers' agents on the feedback and to our surprise - there's only one same feedback that we got from all of them: need bigger square feet. Our home is a great value for 1st time home buyers or rental investment.

Our price range is about right after analyzing other houses' price ranges. There are five other houses not too far from us were up for sale and got sold within 2 to 3 months. We even went inside several houses and were shocked to see how dirty and terrible it looked (old carpet, tiniest kitchen, outdated, high weeds, etc) and we couldn't understand why they're sold. The house next door to me was sold last month for $139,900 (800 sq ft) - the inside were terrible! He had to end up borrow another $20,000 to remodel. If they buy our house, they don't need to borrow another money to remodel, since our's already remodeled.

The location is great. Great neighborhood, great school and shopping area - all walking distance. However, there is a railroad track 150 feets away from our house (backyard). You don't see it since there are trees and bushes. The river is about 10 mins drive and the ocean is 15 mins drive.

Could you please tell me why we haven't gotten any buyer? Agents/potential buyers keep telling us our house is a beauty, but not big enough. No one say anything about the railroad track.

Few things I forgot to add: We reduced the price from $159k to $153. We had an open house last weekend and it went successful (6 people showed up, but no buyer). We have no furnitures in our house except a few boxes, TV, and a folding chair. We use air mattresses to sleep on, but deflate it before showing.

Anyone?

It sounds like it might be overpriced to comparable properties on the market though we really don't know what's out there.

There is a reason it hasn't sold and without us actually stepping foot in the house and really knowing the area.. were just guessing.

If you really want it to sell... reduce your price.

What has your agent told you? Has he or she done a new CMA for the area? If the 800sf home next to yours sold for 139K and needed 20K in remodeling then there is something about your home other than needs to be bigger that is turning off buyers. That may sound harsh but those are just the facts of life. Not having seen your home or the homes that sold in the area prevent us from giving you specifics but a lower price may overcome whatever is making buyers chose another property.
Suggest to your agent that they hold a brokers open and get some honest feedback from the agents that attend.

What makes you say yours would be a good investor property? Are you an investor? What would your house rent for? What is the rental vacancy in your area? If it is such a great rental property perhaps you should consider just keeping it as a rental and just buy your new home. That may be another option to consider.

Not really sure do to I am not in your market. However one thing I can think of is maybe the railroad track is more of an objection then what people want to say. If your home is really as good and or better as you say compared to those that have sold, then there is something there that buyers are objecting to. The only thing I can see from your post is the railroad track.

1) Reduce the Price
2) Advertise more, newspaper, blogs, personal website, more open houses, etc.
3) Make more improvements to the house. Enhance the curb appeal with fresh flowers, mulch, small shrubs. Replace burnt sod. Update interior lighting fixtures.

I agree on the railroad track being a turnoff. Think back on what was the deciding factor for you, when you purchased the house. Price? Location? House upgrades?

Maybe have an unbiased neighbor walk it and give you feedback. Good luck.

It looks like we'll have to reduce the price down to $10,000, according to Zillow.com and our research on other homes. We didn't realize that our square feet is the smallest than other houses. It's no wonder why the feedback is the same: too small. Our house is already improved and updated, even nice curb appeal with flowers and green grass.

Thinking back, we bought the house because it's the lowest priced and closer to my mom's house.

DON'T count on Zillow for valuation.

May I ask why don't count on Zillow?

Their values are usually not accurate. Read their disclosures.

Becuase they base their values via sq ft and a radious search. They do not make adjustments for say pondview, upgrades, pools, etc. In fact they do not discount for say railroad tracks poor condition etc. It will give a ball park thats about it.

Ok, zillow.com is out of question. You tell me if the price is right for our home, which we will reduce it between $147k to $149k. Here's the data of our neighborhood (all sold):

3/2 1886sf no garage $199k
3/1/1 1632sf garage $195k
3/1/1 2061sf garage $187k
2/2 2128sf garage $185k
3/1 1463sf garage $159k
3/1 1109sf garage $149k
3/1/1 1836 no garage $149k
3/2 1500sf no garage $139k
2/2 1470sf garage $139k
1/1 828sf no garage $134k

My house is 3/1, 1168sf, and no garage. What do you think?

Once again can not give you very accurate info without knowing your market. But based strickly on the information you are providing your home is worth between $120,304 and $150,000. Where it winds up one needs to make adjustments for condition, exact location etc. We already know that $153,000 is not close. So best guess is somewhere around the $135K-$142K range

How far away are you moving?

Another option ... Rent it out, possibly refi it to pull cash out for next purchase, and then move to another house, close by. You would then be sitting on two houses that are appreciating. Your networth would go up that much faster. After a year, if you don't enjoy renting, then sell it at a higher price.