What would you list at?

I have to put my house back on the market. I am gutted! I am def hiring a realtor but I want to first see if I can get a rough idea on my own at what to list for. I know this is hard without showing pics but let me know what you think:

3 bedroom contemporary in East Rockaway
2 full bath
mint condition
new kitchen - cherry cabinets, granite stainless steel appliances
granite in one bath
hardwood floors throughout
double plot of land (30 x 100)
near the water
new fence (wood)

Active comps are listed anywhere from 374-415. Some are in not so great condition but most have garages. Mine does not (nor does it have a driveway).

Our last price while on the market a few months ago was 399k. While on the market, we had three offers - one which was too low, one that was great but then the guy chickened out when it came time to sign the contract and now this third person. We settled for just a little below asking with an all cash deal. Our buyer wanted to close early so we scrambled to find something else - now we're not closing at all. So needless to say, we're in a bind and motivated.

Message edited 4/6/2011 3:48:14 PM.

Re: What would you list at?

The property size is 30 X 100? How close to water? We dont want to close? Do you have flood insurance?

Re: What would you list at?

what school district?

Re: What would you list at?

It's East Rock district, Rhame elementary. We're walking distance to the water. We do have flood but it is inexpensive. We've never had a problem with the water.

Re: What would you list at?

I would say if you got a lot of activity and several offers when you had it priced at $399K recently, then that was probably near where it should be. If you want to increase activity and generate a faster sale, then dropping the price a little bit is a good idea.

But the market is always changing so I would definitely get a realtor's input on where you should be priced now to maximize value AND achieve a quick sale.

But keep in mind that "active comps" are really not as useful as "sold comps," if you are using the term "active comps" the way I use it. To me, active comps mean homes that are currently listed on the market and have not yet sold. While they are useful, because you want to know what you are competing with on the market, to me they are not the best indicator of market value. Someone can list a home for $400K, but it may ultimately sell for $325K. If you find out what comparable homes in your area have sold for (closed sales) in recent months, that will give you a better idea of the price range, and then you can figure out where you want to be within that range (and if you want to sell fast, you'll probably want to be on the lower end).

So sorry the buyer backed out on your first deal! That really is unusual, once contracts are signed. Maybe it will turn out for the best and you'll get an even better price (there are a lot of buyers out there seriously looking, especially now that it's spring). But I know it's stressful. Hang in there!

Re: What would you list at?

AW I didnt realize how close you are to me. I am lynbrook with East rock Schools...We are on the market too ...10 days.
Who are you going to list with?
Good luck!

Re: What would you list at?

Are you in Bay Park, down by the canals? East, West or North Blvd? I know the area well, my parents had a house on West Blvd when I was little. Then they moved to another part of ER north of Atlantic off Ocean.

Anyway, I want to say I think that asking near $400K is too high. No driveway? No garage? My parents sold their colonial on the north side of ER with 5+ bedrooms, etc., full basement, garage, driveway,etc. for $375K (needed updating and was sold to a family member, so slightly reduced pricing).

In any case, good luck! Sorry you haven't had any real luck!