How difficult is it to sell a house when you're competing with new construction?

Question

I bought a townhouse/condo back in 2005 with a finished basement, priced at 279k.. We refinanced last year and had to get it appraised so it was appraised at roughly around the same price.

We just learned that my husband's company wants to relocated him and wants him to fill the position in 6 months.

So my question is how difficult is it going to be to compete and do this in 6 months. Especially since it's a buyers not a sellers market.

Answer 1

Ask your husband's company if they will buy the house and assume responsibility for selling it.  Its not uncommon for this to happen.  

If you're competing with new construction, you have to offer something that the builders aren't, like more closing cost help or a lower price.

Answer 2

Could you rent it out?  And if you lose money on rental perhaps his company can help with that difference.  Or, price it well below new construction prices and his company can cover the difference.

Answer 3

try to sell, but perhaps rent it if it doesnt sell, and at least regain some of the expenses, and in a year or two, when it does appreciate, sell it.

Answer 4

It is very challenging.  I have several listings that are priced in the same range as new construction, and it is tough to compete.  The builders make a compelling argument, why buy used when you can buy new?  

Price is king right now, and well priced homes are selling.  In order to sell, you are going to have to price your home accordingly.