Expert: Sue Bernstein - 9/6/2008

Question
We have been trying to sell our home in rural northern michigan for over a year now.  My sister, who lives in Indiana, doesn't quite seem to get it that the market is at an all time low right now.  I am trying to find a web-based article that summarizes why our house isn't selling.  Or perhaps some of your sage advice I can pass along to her.  We have a broker that has a good reputation in the area.  My sister thinks that the broker should be doing more to "push" the house.  I think she is doing a fine job.

Thanks,

John

Answer
Dear John,

Anyone who reads a paper should be aware that the housing market is depressed and foreclosures are at an all time high.  If you want your house to sell it will come down to price.  If Michigan is anything like California the foreclosure properties are the ones that are driving the market.  The banks have to move the properties and are pricing to do so.  If you feel your agent is doing a good job she probably is.  I suggest you talk to her about how low you have to price to get an offer.  If that is too low for you you might want to think about taking it off the market and wait for the market to improve.  It will but it will probably take a couple more years.

Hope this helps.

Sue Bernstein