We're Getting Lots of Showings & No Good Offers...

Dear Dave,

I had 24 showings been on market 59 days one low ball offer week after listed we did not accept, now no other offers.  I dropped the price of the house 8 thousand off the list price a month ago and still no offers.  Our house is in move-in condition and the neighborhood is very nice. After a price drop only two showings please advise since we still have no offers.

Mary B. No area provided

***We also received a similar question from Robert***

Dave,

I have a home that has gotten over 50 showings with no offers. Our home shows like a model and consistently get compliments about how beautiful and well keep it is. On the advice of our agent, I have reduced our price over $120,000 during our listing period with the same results….  No offers. Having spent my entire career as a senior global marketing executive and with an Ivy League MBA.   Analysis dictates that the marketing is attracting the wrong customer which would account for no buyers. I would be interested in your take.

Robert M., No area provided

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Mary and Robert,

Since your questions are quite similar, I am going to try and a new approach and answer both at the same time!  You both have VERY similar scenario’s and I would suggest that both of you have had enough showings that you should have had offers by now.  Also of note is that between the two of you you have had nearly 75 showings and only one offer….. I might suggest that you might start to consider things are not as perfect/pristine as you may believe.  I will also note that both agents are providing ample traffic and must be doing a good job of marketing your properties.

Mary, I am not sure how low your “low ball” offer was, but there is the old adage that often proves true…. “first offer, best offer”.  What that means is that the first offer you receive is often times the best offer you will get.  I have found this to be true more often, than not.   If we put that lost offer in the rearview mirror, we must focus on the present and what lies ahead!  Robert, I would suggest that you should also focus on what is in front of you and not spend much time concentrating on the past.

From what you have both have described your traffic is fantastic, statistically, you should receive an offer within 13-15 showings and Robert I would suggest that despite the $120k in price reductions your value is still too high for what buyers are finding.  With so many showings there is something else going on rather than price.  Buyers are finding out about your homes either online or through their agent's efforts.  Buyers are liking what they see enough to schedule a showing (which generally means that the pictures and price appear to be acceptable), but end up not writing an offer.  This generally (not always) means that there is something else going on.  It might be the condition, floor plan, odors, neighbors, colors, setting, high traffic road, a barking dog next door or any number of other issues that would cause buyers to not choose your home.  Ultimately, all things being equal, there are three things you can control, marketing, condition, and price.  If the marketing is good (Robert I know you are questioning this) then you will get showings and 50 is a lot!   If that many are coming to look you can assume there is something else coming into play if they are choosing other properties….. If you have a condition issue or non-desirable feature, those are typically only cured by either price changes or just waiting for the perfect buyer fit.

 Lastly, it is not out of the question to say that the marketing is attracting the wrong buyers, but to attract 50 wrong buyers and no right ones would be statistically very unlikely unless your home is so specific in features and price that it only will be attractive to a VERY narrow pool of buyers. If this is the case a marketing adjustment needs to be done to ensure the approach is more targeted.  It's hard to get buyers excited about an amazing riding arena and barn if none of them ride horses! 

I am putting out good vibes for both of you and am hopeful that your journey will come to an end soon but try to remain patient.  Remember it only takes one showing to completely change your outlook!  Thanks again for writing in.

Dave Kimbrough

The Kimbrough Team

What's Best Sewer or Septic?

Dear Dave,

We live in an older neighborhood and our house is connected to a septic system. The system is about 30 years old and we suspect it may be nearing the end of its lifespan. The public sewer line has been brought into our neighborhood, but the cost to hook up to it is about $10,000. 

We need some advice on the route we should go - septic or public sewer system?

Thanks for answering questions each week - we look forward to hearing how you answer ours.

Thanks in advance,

Mick and Jamie – Grand Junction, CO

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Mick and Jamie,

This one is easy!  Keep your septic system running as long as you can, because when it fails you will HAVE to hook up to the sewer system.  Once sewer has been run to your neighborhood you are obligated to hook up if/when your septic fails.  That means, keep your septic running as long as you can to avoid the sewer installation and plant assessment fees, but be prepared for expenses either way.

Here are some common signs of septic system failure:

1.      Slow drains or “stuff” backing up into your home.  If you have slow draining you should call and have your septic tank pumped out.  Your tank may be overloaded with solids and just needs to be pumped out to restore proper flow and allow it to properly drain into the leech field.

2.      Unpleasant odors inside or outside your home.  You will know the smell when you smell it.  It most likely won’t be a, “honey do you smell that?” smell, it will be a “Honey is that you?” smell.  All kidding aside, it will be a noticeable sewage odor.  Make sure to have this looked into before your next neighborhood party!

3.      Soggy areas or puddles in your lawn, when it has not been raining.  This is likely telling you that your drain field is going bad and not properly draining.   If you notice this, it needs to be addressed as soon as possible.

If you have slow drains, gurgling sounds, waste backup in the home or foul smells in your home, it very well could be a clogged main line or issue with your tank.  If you have not already done so, I would have Goodwin’s Septic come out and pump your septic tank and have it inspected to see if you have any issues that can easily be corrected.  It is my understanding, keep in mind that I am no septic expert, that if your tank and lines check out and you have puddles, standing liquids or drain field issues, you are likely to need a new field.  This means you would have to abandon the existing field and install a new one.  If your field or tank has failed and you have sewer in your neighborhood, you will have to “hook up” to the sewer system and abandon your septic. You realistically will not have a choice.

Keep in mind, the nice thing about Sewer is, you flush it and forget it… for the most part. The bad part is the ongoing costs associated with monthly sewer bills.  Bottom line, If sewer has come to your neighborhood, it is just a matter of time till you become a part of it. 

Dave Kimbrough

The Kimbrough Team 

How Should I Prepare My Home For Winter?

Dear Dave,

I am new to Western Colorado, coming from the East Coast. I am used to winter weather, but am wondering how much I should prepare my home for winter conditions here in Grand Junction.

Do you have any recommendations on whether or not I need a back-up generator in case of power outages? What about sprinkler systems - is there anything special I need to do? I would appreciate any suggestions you might have for me.

I look forward to hearing from you-

Joan - New to Grand Junction, CO

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Joan,

Welcome to Western Colorado, where the people are nice, the living is easy and our winters are really not that bad!  I don’t believe you will find our winters anything like what you are used to.  We do get snow, but it generally melts in a few days, if not later that afternoon when the sun comes back out!  Having a backup generator is not a bad idea, however I have never had need for one in my 25 years of living in Grand Junction.  Power outages are generally short lived and few and far between, as we don’t get ice storms here.  As you know, ice storms are generally the culprit of long power outages.  Although we see little severe winter weather, there are a few thing you do need to do to get ready for winter.

Your irrigation system needs to be winterized and blown out.   Your evaporative cooler (if you have one) needs to be drained and the water supply line blown out.  While you are at it, you need to make sure it is covered or at least the cooler vents are covered so you don’t lose heat through your vents all winter long.  It is also a good idea to close your crawl space vents (if you are on a crawl space) and cover them with insulation.   Clean out your gutters, roof valleys and downspouts to help reduce your chances of getting an ice dam and allow proper drainage when we do get snow and it is subjected to the freeze/thaw cycle.  These items should cover most of the things you need to do to prepare for winter that might be different from back east. 

My bet is, you will love it here and wonder why it took you so long to move west!  Welcome!

Dave Kimbrough

The Kimbrough Team

Have a question? Ask Dave!

Does The Type of Retaining Wall Change Resale Value?

Dear Dave,

Now that spring is upon us and summer is fast approaching, we are getting some projects lined out for our property. We have an area that needs a retaining wall, 25 feet long and 4 feet high, and we would like some advice on what might be the best route to take. We have access to railroad ties but we aren’t sure if those will have as good of resale value for the property as a rock or stone retaining wall. What are your thoughts on this?

Much Appreciated,

Jim and Ruth - Loma, CO

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Jim and Ruth,

Again, many issues to uncover and consider here.  First, you are thinking resale and I always love it when people think resale!  What you do to your home while you live there will significantly impact the value of your home either positively or negatively.  By focusing on resale, it does not guarantee anything, however it will help ensure your actions have a positive impact on your bottom line when you do decide to sell. 

A retaining wall can be a definite value ad to a property from both the function side and the aesthetic looks of our landscaping. The most important thing, in my mind, is to have it done by a professional, so it looks like it was done by a professional. Case in point, I added a pond to my property five years ago and around ¾ of the pond we had a boulder retaining wall that went from ground level at a 90 degree angle up the side of the pond to the top edge. It looked awful! I had a visitor ask me one time, “Why did you build an elephant watering hole?” Yikes! Needless to say, we did not feel very good about our “pond”.  This spring, we hired a landscape professional, Keith Lowdermilk of Lowdermilk Landscaping, to re-do some of our landscaping. While he was looking over the job, he asked if he could “re-do” our retaining wall around our pond. He thought he could make it look better. We said, “Absolutely!” After all, it was a total eye sore and we don’t even own an elephant! Long story short, he completely rebuilt the retaining wall around our pond and now it is a highlighted feature of our landscaping rather than something we were trying to hide. The cost was ridiculously reasonable, especially considering the end result. He used the same boulders we had and simply re-stacked and reshaped the contour and the finished product is amazing! The moral of the story - don’t be afraid to hire a professional!

“Regardless of the medium used, railroad ties, boulders, or rocks, I think it can be a valuable addition. “

Regardless of the medium used, railroad ties, boulders, or rocks, I think it can be a valuable addition. Try to pick a medium that is in line with the style of your home. If you have a more country or cottage feel, then maybe a rail road tie wall would look best. However, if your home is newer and is stucco and stone then maybe something with boulders would look best. From a pure cost perspective, if you have the inside track on some cost savings on railroad ties, I would suggest you follow that route. As I learned, spend a bit extra and go with the professional to, at a minimum, help you design the wall, but potentially also install your wall. 

Do it right the first time and it will really pay off and look great! Remember, not everything is about resale - you are going to have to look at it for many years and if it is done right you will look at it as a feature and not an eyesore. My bet is you (and your back!) won’t regret it. Hope this helps.

Dave Kimbrough
The Kimbrough Team

Have a Question? Ask Dave!