I’m ¼ owner on a house, and the other owners don’t get that it makes sense to price low and sell fast. The home is owned free and clear. It’s in a small town, where demand for homes is exceptionally low and there are always plenty for sale. This house is tiny compared to others in town, and while livable, it needs major updates. At best, I think we can sell this house for £80,000 and that’s if we’re willing to wait years for that one right buyer.

I’ve already brought up the obvious: vacant houses are hard to insure, other homes in town aren’t selling no matter the price, costs of property taxes and propane to keep the pipes from freezing in the winter, and the liability if someone gets hurt on our property.

Any other suggestions? I’d like to keep the language as simple as possible. Other owners have a limited familiarity with the real estate; at least a couple of them think it’s a good idea to overprice the home and then drop it later if needed. *head slap*
One in the hand is worth two in the bush. I want whatever paltry amount we can get now rather than waiting years for a buyer for what might end up being a couple grand per owner extra. To me, it’s just not worth it because there’s always that chance (and in this town it’s fairly likely) that we’ll never sell the house.

I realized this probably isn’t clear…the other owners are caught up in this idea that the home is worth a certain amount just because they arbitrarily think it is. The data in the area simply doesn’t back it up, and I’m having trouble getting these people to see that what they think the home is worth is meaningless. All that matters is what someone is willing and able to pay.

The answer is provided by :
godged :
The big factor for the owners should be insurance. Next will be the vulnerability of the property. As a property expert, I have to regularly check my vacant properties, because if I don’t, someone will either vandalize it or take up residence there. The owners will either have to pay to get the property fixed or sell it as is with the damage.

Pricing the property high is unwise in most markets, if it is too high, no one will even look at it. There are too many properties on the market for people to waste time on something that is obviously overpriced. If they price it high and there are subsequent price reductions, buyers assume that something is wrong with the property.

The owners would do well to price the property to sell.

I'm trying to sell my house. It was built in 2004, has 5 bedrooms 4.5 bath, 4650 sq ft, pricing at $699,999. It has been 2 months and yet now one is ready to buy it. I can't wait no longer by next August. Next summer is when i plan out to move. How long will it take for me to sell my house? Will i be ever to sell my house by August 2009, or is it to early. How can I sell my house fast?

The following reply is by : Suzy Cutes :
The housing market is very down right now with it being a buyer's market. Even with a small help from lower interest rates, the housing industry is going to take quite a while to recover. Most people look for new housing in spring or summer, so winter is not the hottest time to put your house on the market either.

Depending on the price points and comparables in your area, your pricing might need to be lowered.

How's the curb appeal? People often make up their minds about a house the minute they see the outside. How does the house look inside? Are there nit picky little problems? Is there stuff on the kitchen counters or pictures on the fridge or toys all over? When showing a house, it should look like a "model home," ready for a buyer to move into, and not look like people are actually living there. Perhaps you need to do a little cleaning, painting, minor fix up, yard clean up, and staging to improve overall impression. Staging can make or break the sale of a home. For some staging ideas you can go to HGTV.com, as they have several programs on the subject — you can even apply to HGTV's "Designed to Sell," to see if their design team will come out and stage your home so it will sell fast. Your Real Estate agent should be able to give you some staging advice.

Other options are to list your home with a real estate firm that guarantees the sale of your home, even if they have to buy it. You could always rent it and take some huge tax benefits. You could lease-to-own.

Good luck!