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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Where are the buyers? Posted by nate on August 02, 2006 at 6:31 PM In Reply to: Where are the buyers? posted by gc on August 01, 2006 at 2:36 PM : My investment property has been for sale for 3 months, with : no buyers. Appraisal came at $445k, right before I put if for sale. I have had to reduce it from 449k, to 439k, to 429k, to 419k, and NO BUYERS!! I am thinking that even if I lower it to 399k, there wont be Buyers. I would say that with this market, if you buy at 30 to 35% discount, you will not make a dime. You have to start thinking 40%-45%. I have seen a bit of that. I did a total remodel 3%commish, and listed 5k below last sale. 1 call first week. didn't have property complete for 2 more days so I couldn't even show. I am not scared yet, but we are talking about 250k condo in orange county. There should be a bit more interest. With that said, more sizzle...gonna add a fridge, probably stage the place, add a bonus for excepted offer by X date, and do what it takes. By the way, I own ten condos in the building, and would sell two or three as a package deal at about 20k below market comps. Not enough of a discout to make a flip, but stilla good deal. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : My investment property has been for sale for 3 months, with : : no buyers. Appraisal came at $445k, right before I put if for sale. I have had to reduce it from 449k, to 439k, to 429k, to 419k, and NO BUYERS!! I am thinking that even if I lower it to 399k, there wont be Buyers. I would say that with this market, if you buy at 30 to 35% discount, you will not make a dime. You have to start thinking 40%-45%. : I have seen a bit of that. I did a total remodel 3%commish, and listed 5k below last sale. 1 call first week. didn't have property complete for 2 more days so I couldn't even show. I am not scared yet, but we are talking about 250k condo in orange county. There should be a bit more interest. With that said, more sizzle...gonna add a fridge, probably stage the place, add a bonus for excepted offer by X date, and do what it takes. By the way, I own ten condos in the building, and would sell two or three as a package deal at about 20k below market comps. Not enough of a discout to make a flip, but stilla good deal. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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