Got to Get out Quick - Posted by Roy W. Armstrong

Posted by Rich-CA on May 14, 2007 at 09:18:57:

Is it listed with a Realtor? This is not suggesting this is the only way to do it, but one service Realtors have that no other method gives you (and I am not a Realtor myself) is their electronic lock box that records who entered the property and when. I use this information to determine what my foot traffic is. Then you can make a determination as to whether the discount is working. For example, we have a house in Phoenix that is at the tail end of escrow (loan approved, but conditions need to be met). We started at $239,900 - and got about 3 showings a week. Two weeks later we dropped the price to $224,900. Got no showings. Dropped the price to $214,900 and got an average of a showing a day. Without that record of how many people are going to see the property, you will have no idea if the price is right. The price needs to attract attention and be in the range where people are buying. Once you have done that (and showings numbers are the only way to know if you’re in the range or not), then its just a matter of getting enough showings to produce an offer.

As an investor, without a network in Iowa, it would be impossible for me to consider a house there at any price unless is was so inexpensive that i could hold is empty for an indefinite period of time. That limits you to investors with contacts already in Iowa - not a very large number of potential buyers. This is the problem with targeting investors - its a much smaller market.

My suggestions are:

  1. List with a Realtor. Collect numbers.
  2. Lower the price some more. If you want a fire sale, you need to find a fire sale price. If you have no takers at $65K, then you need to go lower.

Can you send me a link to the property info?

Got to Get out Quick - Posted by Roy W. Armstrong

Posted by Roy W. Armstrong on May 14, 2007 at 06:05:39:

I have an Iowa property that is in Pre Foreclosure and we have until June 1st to get it resolved. They will work with us until June 15th if there is an offer in.
I owe $43,000 to the Bank no 2nd. The 5 bedroom two bath property is assessed at $101,000 we have it on the market for $65,000 but nothing is happening. Property can be viewed on line.
Any suggestions on how to sell it fast?

Re: Got to Get out Quick - Posted by IA Jeff

Posted by IA Jeff on May 16, 2007 at 21:50:33:

Ditto Levi’s comment… What is the address? Maybe I can help.


I’m in Iowa - Posted by Levi

Posted by Levi on May 14, 2007 at 10:14:06:

Whats the address?