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Old 11-01-2011, 09:27 PM
 
Location: Mineola, Long Island
2 posts, read 4,617 times
Reputation: 10

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How long does it take to sell a house on Long Island?
My parent's put up the house for sale mid september 2011, and I'm eager to move away, when can it be expected to be sold in this kind of market, is there any way of telling?



http://www.mlsli.com/unidetailsredo_...ypeprop=1&st=2

Last edited by strangerpurp; 11-01-2011 at 10:01 PM..
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Old 11-01-2011, 10:54 PM
 
Location: Long Island
9,033 posts, read 18,351,792 times
Reputation: 4740
Quote:
Originally Posted by strangerpurp View Post
How long does it take to sell a house on Long Island?
My parent's put up the house for sale mid september 2011, and I'm eager to move away, when can it be expected to be sold in this kind of market, is there any way of telling?



MLSLI.com
This is some of what I as a Realtor see:

Looks like a well-cared for house, but most likely not updated (hard to tell from the photos)

listing date: Oct. 7 (not mid-September)

Now to possible (perceived) negatives and slip-ups by the listing agent:
  • number of rooms: listed as 5 (someone can't count here - 4 BRs, an EIK, Family room and an office; to me, that's 7. But when agents (or buyers) search by number of rooms, this could get overlooked if they put in a minimum of 6 or 7 rooms
  • no photo of kitchen - suspicious (how bad is it that there's no photo?)
  • party driveway - could be a drawback, unless all houses in the area have that
  • well water - plenty of buyers shy away from that
  • commission: 1 1/2% to the selling agent; same amount of work, less pay. Many agents won't show it voluntarily because of it (unless buyer asks to see it); I'm not saying it's right, merely pointing out a reason why it could take longer (would you take the same job but for less pay?).
Last but definitely NOT least, is it priced right? (Didn't take the time to check) With all the inventory out there, if you want to sell NOW, don't list it with last year's asking price...

Can houses sell fast in this market? I believe so.
My last listing in Dix Hills was first available to be shown on Labor Day, had several offers and ended up with two excellent same price offers still in September (very close to asking). Terms ended up being the deciding factor (money down, type of mortgage, etc.) and once the attorneys got their act together, the house was in contract by mid-October. Expecting to close after Thanksgiving, but before Christmas. Price, location, school and condition all came together.
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Old 11-02-2011, 04:44 AM
 
886 posts, read 2,154,530 times
Reputation: 889
I am putting ours on market today.
Asking price is $1 but it is an 'as is' sale which means our three daughters and 13 year old dog with loose kidneys are included.
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Old 11-02-2011, 06:55 AM
 
1,589 posts, read 2,053,008 times
Reputation: 1656
Quote:
Originally Posted by strangerpurp View Post
How long does it take to sell a house on Long Island?
My parent's put up the house for sale mid september 2011, and I'm eager to move away, when can it be expected to be sold in this kind of market, is there any way of telling?



MLSLI.com
8 months, 23 days.
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Old 11-02-2011, 07:06 AM
 
148 posts, read 246,967 times
Reputation: 55
I know Zillow isn't usually well loved, but when I looked at Redfin the slisting price was higher than both Zillow and eappraisal's high. So I'm guessing when the real estate agent and your parents comes up with a more realistic price you'll have a chance of selling.
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Old 11-02-2011, 07:12 AM
 
4,963 posts, read 3,923,610 times
Reputation: 2917
We have two houses for sale. One had an accepted price within days, went to contract within two weeks in April and will close in two weeks from now ; why they wait ; it was our choice as we needed to use the property for a business.

The second went for sale on Auugust 31st. A few viewings, no offers at all ; looks like the house above but with vinyl siding. May drop the price soon. Another house two doors up is for sale for $20,000 more than ours ; the house is exactely the same.

If it is priced right, it will move
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Old 11-02-2011, 07:30 AM
 
9,900 posts, read 12,970,298 times
Reputation: 5461
Quote:
Originally Posted by Elke Mariotti View Post
This is some of what I as a Realtor see:

Looks like a well-cared for house, but most likely not updated (hard to tell from the photos)

listing date: Oct. 7 (not mid-September)

Now to possible (perceived) negatives and slip-ups by the listing agent:
  • number of rooms: listed as 5 (someone can't count here - 4 BRs, an EIK, Family room and an office; to me, that's 7. But when agents (or buyers) search by number of rooms, this could get overlooked if they put in a minimum of 6 or 7 rooms
  • no photo of kitchen - suspicious (how bad is it that there's no photo?)
  • party driveway - could be a drawback, unless all houses in the area have that
  • well water - plenty of buyers shy away from that
  • commission: 1 1/2% to the selling agent; same amount of work, less pay. Many agents won't show it voluntarily because of it (unless buyer asks to see it); I'm not saying it's right, merely pointing out a reason why it could take longer (would you take the same job but for less pay?).
Last but definitely NOT least, is it priced right? (Didn't take the time to check) With all the inventory out there, if you want to sell NOW, don't list it with last year's asking price...

Can houses sell fast in this market? I believe so.
My last listing in Dix Hills was first available to be shown on Labor Day, had several offers and ended up with two excellent same price offers still in September (very close to asking). Terms ended up being the deciding factor (money down, type of mortgage, etc.) and once the attorneys got their act together, the house was in contract by mid-October. Expecting to close after Thanksgiving, but before Christmas. Price, location, school and condition all came together.
Not having a picture of the kitchen is a bad idea. Even if it's outdated, if it looks usable that's better than if it's falling apart.
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Old 11-02-2011, 08:00 AM
 
Location: under the beautiful Carolina blue
15,720 posts, read 23,949,403 times
Reputation: 11687
Agree. EVERYONE wants to know what the kitchen looks like, even if just to get a sense of the size and layout of the space.
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Old 11-02-2011, 09:36 AM
 
Location: Islip,NY
16,929 posts, read 19,666,757 times
Reputation: 17186
I know when I've look at MLSLI it was always important to me to see the inside of the home, especially the kitchen bath, and bedrooms. I have seen homes with just pics of the outside. Why is that?? Do the sellers not want pictures of the inside of their home taken? Or are they afraid once someone sees the inside online they might want to look at it in person?
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Old 11-02-2011, 09:37 AM
 
Location: Islip,NY
16,929 posts, read 19,666,757 times
Reputation: 17186
The house I live in now was one we saw driving by and called our realtor. We found out it was on the market a week and we were the first ones to offer full price and it sold 2 days later. We are here 8 years now.
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