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Should we reduce the price on our house further?

We're selling our house for a couple reasons, including noisy neighbors and a pregnancy (need another room), and we'd like it to sell sooner than later. We've had a TON of showings but every single person who has seen the house says "we love it -- we just don't like the parking." The parking lot is about 20-30 feet to the side of the front door, which is not a big deal to me, but it is really keeping people from buying it. Anyway, we've already reduced the price by 12,000. If we reduce too much more we won't make a profit, but I'm worried that it won't sell otherwise. (It's the lowest priced townhouse for its size in the complex too.) Should we just kind of say "f*#$ it" and drop the price another 5k and not make a profit?

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Anonymous

Asked by Anonymous at 1:33 PM on Apr. 2, 2009 in Home & Garden

Answers (5)
  • I guess it really depends on how bad you want to move. Without seeing the house and your area and what it is worth-I don't know.

    Is there anyway to improve the drive way so that you don't have to loose so much money?
    Anonymous

    Answer by Anonymous at 1:39 PM on Apr. 2, 2009

  • i hate to be nosey but i am pretty good at this.you say its a town house...where???and how big is it and how much are you selling it for now..i know that i live in mass and a town house here is much more expensive than lets say well anywhere else really.thank God we bought our house 20 yrs ago.so you park on the side of the house several ft away..the market is going up ever so slightly so you might want to hang on..its a market for first time home byers they can get a really good deal now.but if this is you second house the houses now are below price and if you wait you condo or town house will probly go back up....
    raineydays377

    Answer by raineydays377 at 1:41 PM on Apr. 2, 2009

  • It's like 1100 sf in Denver, yes it's a townhome and there's no driveway, just a sidewalk to the parking lot. I actually think it's nice looking out at a nice front lawn and street and not a parking lot, but I guess most people would rather look at the parking lot :(
    Anonymous

    Answer by Anonymous at 1:44 PM on Apr. 2, 2009

  • The market in Denver is still supposed to be a good one, I would lower the price to where you can get out of it and maybe even not make a profit, because it is a sellers market, you will probably be able to make a better deal on what you buy after you sell the townhome. You could very possibly end up with more equity in your new home that you buy than any money you lost on the townhome by lowering the price. First time home buyers right now are very attractive to a townhome with a lower price, make sure your realtor is reminding those buyers of the new tax breaks they will get if they buy a home this year. Also, make sure you make it clear the parking lot and sidewalks are always cleared of snow in the winter time by the HOA.
    Anonymous

    Answer by Anonymous at 9:58 PM on Apr. 2, 2009

  • I meant a buyers market, sorry......
    Anonymous

    Answer by Anonymous at 9:59 PM on Apr. 2, 2009

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