In article ,
(Arulmozhi) wrote:


The fact that the house has been on the market for over a year with
progressive price reductions with no takers scares us a lot. Why is
this house not selling?


This would seem to indicate that a years worth of buyers think the price
is not worth it to them in its present condition. You describe the
market in your area as insane and in an insane market if a house sits for
a year it gives you an idea of what the resistance is going to be like in
a tougher market. You also seem to suggest that the house is discounted
relative to the area yet buyers do not seem to materialize. This again
seems to indicate strong resistance. Assuming no structural problems and
your analysis of the negative as being no garage/bad floorplan is correct
you have to ask yourself if you could correct these deficiencies for the
$$ difference between this house and what you think other houses should
sell for. You should also be certain that you are in a financial
position where you could sit on the house for an extended period should
you be put in a position where you are forced to sell because the market
is already telling you that this house is difficult to sell in a hot
market.


Roland