We have lived in our current home for 19 years, our third purchase over the years. I have listed for sale and am somewhat confused by the responses we are getting.
Here are the facts :
Home listed with a realtor, and MLS
Been on market for about 2 months, reduced price 3 times, about 10% total
Reasonable traffic, 3 open house days, 2 Realtor tours
Only offers have been verbal, and about 10% below my asking price
Countered both with a "meet in the middle" response - Crickets
Realtors of course want me to lower price further, but I am in the low end of the middle in price per sq ft here.
48 homes on market in 1100 home neighborhood, high end @200-220/sqft, low end @ 136-140/sqft.
Our Current listing is at $165/sqft, reduced from $180/sqft original listing.
Limited access Country Club Community in suburban Northwest Austin.
Reasonably healthy market currently.
My questions are:
1. Why verbal offers? I'm used to written offers with fixed time limit but it's been a while. has the market changed?
2. Is there a good way to tell if offer is from a flipper, as opposed to a potential resident?
3. Any additional comments welcomed. I'm somewhat frustrated at this moment.
4. Our MLS listing is 7107805, I think you can pul it up from that.
Thanks everyone, any help is appreciated. This should be my final home sale, at 72, so it's pretty much my current focus..
