Hope exists for homes that languish on market

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

DEAR BOB: I love your column and hope you can help us get our home sold. It has been listed for sale more than five months. The local market is very slow now. The listing agent has the house on her Web site and occasionally holds a weekend open house. What can we do to get our house sold so we can buy another home near my husband's new job site? --Kendra S. DEAR KENDRA: The primary reason a house doesn't sell is it is overpriced. If your home has been listed for sale more than five months, something is seriously wrong. Purchase Bob Bruss reports online. Ask the listing agent to prepare a new CMA (comparative market analysis). This form shows recent sales prices of similar nearby homes, the asking prices of competitive neighborhood homes (your competition), and the asking prices of recently expired comparable listings (usually overpriced). The CMA should also show your listing agent's recommended asking price. If your home is overpriced, it's time to face reality and reduce the ask...