How To Sell A House In The Worst Market Since Hoover Was President

Wall Street Journal:

So you say you're selling your house?

Hey, it could be worse. You could be selling a Hummer.

If you've been waiting for a good offer to come through, this probably isn't exactly big news to you: This is the worst home-selling market since Herbert Hoover was president. In much of the country, prices are already way down and probably heading even further south. Houses are sitting on the market for months longer than sellers expected.

Read the whole story: Wall Street Journal

Comments

[ilovemydoggy]

If you have to sell your home now, avoid using an agent. As a Baby Boomer, my goose is "cooked" but I will remain positive. And NOT rely on my government, nor the media. The foxes did a poor job in guarding the henhouse.
Baby boomer info on selling your home: http://www.Vaboomer.com

[KillTheMessenger]

Psssst... don't tell anyone: it is the baby boomers who gut us into this mess in the first place. You guys will be called "the greediest generation".

[Darsan54]

No, pretty much everyone who supported the past three administrations is responsible. None of them had the guts to make the hard decisions about governing, rather than running. Don't be so patronizing.

[Rule Of Law]

Mea culpa, mea culpa. Get out the hair shirts because KTM has once again pointed his long bony finger of judgement! You are becoming a one trick pony, and committing the worst sin of all--being boring.

As for the greediest.....You'll, find them, my long suffering and highly mistaken friend, in the halls of power in DC and the Corporate offices of the multi-national corporations, busy looting the money that This Generation has produced.

[WIpatriot]

Greedier than the robber-barons of yore? Sheee-it, we is bad. You got any money left? Then, not so much.

Can you separate the elite from...of course, you can't.

[Raymondf]

Don't sell, keep it for at least 10 more years.

[MissingAmerica]

My kids finally sold their home, and it sold to an investor; not because of the house, but because of the property. After putting more than $80,000 into the home, they ended up with a whopping $7,000 just from the sale. In other words, they took a bath. But they are delighted, because the big question now is: "How much did you go negative?" Although they lost their shirt, they still came out with $7,000 at the close.

I remember when my parents bought their home in 1962; a new home for $25,000. Folks, it would appear that the price of a home is the only thing nearing 60's economy, and that ain't good!

[KillTheMessenger]

Why would you even sell a property for $7000? The whole thing can not cost more than $100-200 in property taxes a year. Just keep it and wait for better times.

[vcsmith]

Unless it was in New Jersey.

[JohnFromCensornati]

Your real estate broker will tell you how.
Lower the price.
Now pay her 7%.

[WIpatriot]

LMAO.

[EinChicago]

Unfortunately that's true. Part of teh current mess is the whole "buyer's" agent crap that added yet another layer of costs to selling a house.

[KillTheMessenger]

You can use one broker and do the whole thing for 3% or less. If you tell them that they can either take 3% or take a hike, they will take the money. Why? Because their business is just as poor as yours.