Why won’t my second home sell?

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

What do you do when the housing market is slow and you absolutely must sell? You pull out all the stops -- and pray for the best. Let's focus on the "pray" part for a moment. More than 15 years ago, when home prices plummeted along with the hopes of many would-be sellers, I wrote about an ex-Jesuit priest and his family who had bought a new home in another city. They cleaned, polished and painted but could not find a buyer for their home. In addition, carrying two mortgages at the same time began to take a heavy toll. To help speed the process of the home sale, they buried palm leaves in the four corners of their lot and said a few prayers. The couple not only got a full-price offer, but they heard from other folks who had buried religious articles in their yards -- statues, medals, holy cards -- in the hope of divine intervention. Many claim they sold their home almost as soon as the garden spade was re-hung. "The idea came from the agent who was helping us sell our place," said Kevin...