A house furnished and staged for sale always looks better than the same house empty.
It's so much easier for the buyer to imagine living in the house when it's been staged.
Actually as a buyer I'm happy when I see a empty house as I expect less competition to get it
At the end of the day though I believe that the market decides of the price of a house. So if it hasn't sold then its too expensive.
Sellers usually believe their houses are worth more than what they are, it's human nature.
Did he get any offer/interest at all?
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20-10-2016 19:11 #21
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20-10-2016 19:13 #22
20-10-2016 19:50 #23
Thanks for all the replies. I appreciate them. Not feeling 100% tonight. So I will get to all the replies individually.
@ExcuseMyFrench he hasn't any offers. Plenty of people have been through when they have an open house but no offers at all.
He says he is broke. Which I mean may be true but I also know what income he and his girlfriend have between them so it is interesting if they are.
I do think they both want a big pay day but haven't put anything in for it.
@A-Squared I had forgotten about the valuations. I know he's had one because I was living there when it happened. It was before DF and I put a fair bit of money into fixing some stuff and painting a neutral colour and it was valued nearly $100,000 less than what he put it on the market for originally.
20-10-2016 20:36 #24
What sells a house? A good agent
But seriously any house will sell if it's marketed correctly and yes as most pp have said the right price , styling and renovations help
But if it's not market correctly , with an active agent and priced right it won't matter what the bathroom looks like!
He needs to get a local agent that sells similar properties, they need to market it properly to attract the right buyers in the right price range - railway line or main road properties do usually take a little longer to sell but suit investors or first home buyers as they are usually cheaper for that reason - definitely clean it up as best you can , if he can't afford to style or renovate he could just make sure it's really clean and tidy, de cluttered, lawns immaculate, beds made nicely , borrow furniture if he can
What he needs to realise is that buyers look at similar properties , his needs to be priced competitively, especially with the railway line, in reality he is helping other owners sell by pricing his too high, buyers come but walk away and buy a better home for the same price, the longer it stays on the market the worse it will be for him, the agent ( if they even bother after that long) won't be motivated to sell it or spend any more time on it as your dads not motivated either, we work for free until it's sold, no one will do that and put in 100% effort if the owner is not serious
Tell him to go out to other open houses and look objectively at how his compares, as that's exactly what a buyer does, an agent or owner can't make a buyer pay anymore than they are willing too or can afford to, especially if they are getting a mortgage as the bank will value it anyway , we've had many deals fall through because whatever the bank values the house at is all the buyer can pay, regardless if they say they will pay more , unless they have cash to top it up they can only borrow what the bank tells them
Good luck !
20-10-2016 20:48 #25Senior Member
- Join Date
- May 2014
Trying to get the new posts to appear...so posting in hopes this works.
20-10-2016 21:18 #26
We bought our home in a little town (pop.1500ish) a year ago and out here, price will be the biggest factor. There are homes we looked at when we bought and thought they were overpriced - they are STILL trying to sell them a year on! Even though there are never more than 5 or so houses in town for sale at any point in time, it's pretty easy to get a quick sense of what is good value and what isn't.
We were looking for something that needed updating, so we could add value. I have a design background so don't need furniture and ours was a vacant ex-rental.
Every house we looked at we walked away, worked out all the work that needed doing and how urgently (eg. Would the original loan need to cover it or could we save for 12m?) then worked backwards to determine the price we were willing to pay. If we could buy a house with the work already done for about the same as purchase+ cost of work then it was a no deal. Why go through the hassle of doing the work if you don't save money? And yes, we did factor in potential re-roofing, if bathrooms needed reconfiguring, removing asbestos sheds or materials from renovating.
If we were talking an 800k+ home in the burbs my advice would be different. I'd say freshen it up, rental furniture etc. But it's not, there aren't as many country buyers and a lot less new buyers entering the market. Everyone will know the house, how long it's been on the market and a bit of furniture isn't going to fool anyone. They know what it's worth.
You may just have to pull a Kerrigan and "tell him he's dreaming".
20-10-2016 21:40 #27
We recently sold our old house and bought a new house..
In no particular order:
* floor plan / functional layout - having lots of add-ons could be a negative in this regard
* kitchen and bathroom renovated or in good condition
* natural light
* clean & tidy, no obvious things that need fixing - and I would add that getting the property styled would help with this point. Furniture is good but depends on what kind of furniture. If it's your dad's furniture, it might not be to everyone's taste
* location, neighbouring properties, amenities nearby, school catchment
* price! Is your dad's house priced similar to the competition or is he asking way more? He might see things in the house that have a lot of value, which he believes warrants a premium price but others might not see it that way
20-10-2016 21:52 #28
Just read all the replies..
I think the price and the railway line are the problems here. He would be better off taking it off the market and getting tenants in for a while, as it's been on the market so long that the only way he could sell it at this point would be to significantly drop the price and it doesn't sound like he would be willing to do that.
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20-10-2016 23:02 #29Senior Member
- Join Date
- Oct 2016
Selling a house
Hi ...having read your notes. ..looks like your dad wants top dollar but property isn't matching his pricing. I don't think you need furniture as I like to see a room empty with respect to size and make rooms work for me.
Is property in blue mountains? Central west?
You mentioned carpet was cap. .having new carpet or laminate floors really lifts a place and slightly modernize the house.
People don't mind making changes but want house to be cheaper to have budget to change. Gardens should also be maintained.
If he wants top dollar he needs to spend 5 to 10 k on it.
Also maybe stagnant energy....burn some sage...put some flowers in kitchen bake some bread or cake before a showing.
Also open all blinds and let natural light in as feel that good light sells a house.
Re railway line ...if it's noisy he needs to adjust price.
He doesn't sound like he is in a rush to sell...if he sells he can move on and go to next stage in life and have fun..instead of being burdened by the property.
Hope this helps
22-10-2016 08:42 #30Senior Member
- Join Date
- Jan 2011
Railway line - HUGE turn off. I would never buy a house with a railway line behind it, I would ONLY buy it as a rental property, and therefore the price would need to be very low.
It sounds like the issue is 99% the price
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