June 26, 2008
So, there has been a number of phone calls regarding the house – nothing overly serious – mostly inquiries about storage space etc. As such, yesterday we hosted an agent’s tour. Our representative and 25 other agents pile into cars and drive around the community looking at each other’s listings in an attempt to drum up business; a good practice as referring agents getting one half of the listing agents commission. As well, it provides the agent with valuable feedback – critical for price evaluation etc.
The feedback on the house was very positive – agents were particularly impressed with our kitchen. As for price, the consensus was the price was either 10k too high or ‘right on’ – which again is positive as it means that we have some room to negotiate while maintaining a competitive price point.
As I post this we have another booking set for a private showing… Here’s hoping!
June 22, 2008
The sign has been up about 5 days, and within 24 hours of listing we had a showing. Since then, nothing. Although we have a clear game plan for this house – a bottom-line price, end-date for listing, rational motives etc., it’s still very hard to sell something that you’ve invested so much time/money/sweat into. Every time a car drives by the sign on the lawn and doesn’t slow down, we take it as a snub! The last time we sold our house (a new cookie-cutter semi) we did so in about 18 hours! The sign wasn’t up before the house was gone! However, that was 4+ years ago and the market was very different. That being said, it’s still easy to ask yourself “why hasn’t this house sold?” – even when it’s been listed less then a week – wondering if there is something wrong with it, or if you have bad taste…
(more agony and joy…)
June 17, 2008
After a heroic weekend of work, the house is basically ready to show and the sign is ordered… too bad the stress level hasn’t been reduced. We are now on-call for ‘showings’ which means that we have one hour from time of booking to have the house tidied up and ready for a potential purchaser. Not an easy feat with two small children!
(more agony and joy…)
June 12, 2008
The offer has been accepted! After much fax-jockeying we have finally agreed on a price, and the other party has accepted our conditions. Now, we have 6 weeks to sell our house. We have been making steady progress finishing project after project. It’s tempting to cut corners – hide things with paint etc., but we are well aware that any potential offer could include a home inspection, and the last thing we need is a ‘reveal’. As well, in the event we don’t sell our house in time, we wouldn’t want to have to live with low-quality work. We’ve invested too much into this house to live with substandard workmanship.
So, if you’re in the market for a 122 year-old heritage home with many upgrades/restorations – just let me know.
Cash offers accepted…
June 11, 2008
Two weeks and two offers later we are still in the running for the ‘new’ house. Our fist offer was ‘ignored’, however, our second offer was signed back. The terms the bank has offered are not to our liking – the price point is still too high. However, we view this as good news as they have accepted our condition of sale clause. This is encouraging as it means that if we can come to agree on a price there is a distinct possibility that the bank will honour this condition.
We are also encouraged that there have been no other offers on the property. There have been several dozen showings but only 2 offers. Apparently the property continues to rest at a price-point that is unattractive to most buyers. The house is ‘only’ 1800 sq feet, and needs some work, and for the advertised price this represents too large an investment. (more agony and joy…)
June 9, 2008
Since the last post we have made two offers on the house – we’re waiting for the second offer to be rejected… In the meantime we have been making a mad-dash to finish our house. Overall, our house is in great shape but almost every project is 98% complete, and it’s the last 2% that needs to be finished if we want to be able to sell. (more agony and joy…)
June 2, 2008
As mentioned in an earlier post, we’ve been taking a break from renos and writing to enjoy a much needed break, however as “an idle mind is the devil’s playground” we’ve started ‘thinking’ and we’re considering moving… (more agony and joy…)