Okay, I know word of mouth with friends and having a real estate agent and having open houses and stuff are a good way to get exposure when selling a house or condo. However, my parents have a very nice condo that is directly on the beach that is for sale. It has been for sale for a month or so now, and my parents are looking for other ways for it to gain exposure. Anyone have any ideas?

 

realtor.com

 

If they are using a realtor and if its in the MLS and not selling, it means one of a few things.

1. Your beach is a toxic dump.
2. People are afraid of hurricanes.
3. Other realtors hate your realtor.
4. There are many other condos for sale in the development.
5. Your condo is a dump compared to the others.
6. You are overpriced.
7. A month for sale may not be a long time.

You should goto other open houses in your development and ask your realtor what the average listing time to sale in the development is. Also find out how long the other condos that are currently for sale have been on the market.

 

It's a buyers market out there... Unless you've got it priced to be a great deal, you're going to have to wait till you find the person who thinks the house is "perfect" for them.

Anyone who was thinking about buying in the last 3 years already has, and now that interest rates are starting to climb back up, people aren't thinking buying now unless they have to.

Houses at right around 300K are selling quickly in my market, but anything over that is taking awhile.

Just talked to my buddy this past week who is trying to sell his house (w/ 300 ft on a river)... Still on the market after 3 months, and he's done a ton of work to it (wrap around deck, finished basement, new bath, remodeled kitchen, new paint in and out), so it's not a dump.

Started at 550, then down to 519, now at 509 (3 months on the mkt)... He says he gets a new batch of people to look at the house w/ each price drop. He'll take 480 now...

Your realtor should have it listed on MLS. Some don't do this, and I'd never work w/ one that keeps "private" listings. They should have it in those little color books that you see w/ homes for sale for free everywhere, but you might have missed the cutoff for the last printing.

If it's in the MLS (which means it's on realtor.com), you're having open houses, and it's in the local books, and you're still have trouble selling, there isn't much you can so except wait and/or lower the price.

 

In response to this:
1) Juno Beach is very nice, in a good developing area.
2) Hurricanes aren't a factor with this condo, no damage with the past 2 hurricanes in the development
3) The realtor is a really nice guy and we know him personally
4) There is one other condo for sale in the development which is old, our's is totally renovatted.
5) The condo is very nice and was redone with wood floors, new appliances, etc..
6) Not overpriced because every person who has came to look did not mention price as a factor, just timing
7) You may be right, but South Florida is a hot sector

 

All of this is right on the money. It's definitely not a seller's market... so your parents may look into lowering the price. Take everything written above into consideration, and also that South Florida is one of the MOST overpriced areas in the country, and you may begin to see why it's taking some time to move the property. Your parents may want to lower the price a little bit and have the realtor throw some open houses.

That said, one month really isn't a long time. Now that school is ending and summer is coming they should be able to sell rather easily. If summer comes and goes and still no takers, well, then you'll be in a bit of trouble and will really need to re-examine pricing.

 

Timing, huh? Sounds like something a chick says when she wants to let a guy off easy w/o hurting his feelings. So it might be price, but like JB said, wait til summer gets into full swing. People have graduations and weddings and things like that to worry about now.

 

Yeah, we are house shopping, its just not time to buy yours.

 

When I used to throw parties at University of Maryland we paid a freshman to walk through the streets wearing a refrigerator box with our address painted all over it.

Worked great.