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I just pulled mine off... I was on for 1 yr and 30 days and decided that I don't need to chase a declining market... let some other fool give their house away - I have time, I can wait for the next "boom" : )
So funny; we went to pull it off the market and got a buyer go figure!!
Just wondering. How many of you out there either bought or sold their home in the last 2 months and where and about what price range? We're trying to sell our house with no luck, there has been hardly any traffic. Should I just consider taking it off the market?
we're located in watchung, price million plus, on the market for about a month
There are currently 88 properties in the market in Watchung, and 31 of those are priced at $1million or higher. And a month is not really a long time. The average time of market for the 11 Watchung properties currently under contract is 95 days. If you reduce that to just the 5 that are priced at $1mil and up, the average time on market is 134 days.
What I woukld do is talk to yoru agent, to make sure you understand what marketing is being done to generate interest. When you say "hardly any traffic" what do you mean? Have you had some showings?
We sold our house in Clark in January 2008 - it had been on the market since July 2007. I consider us being lucky that it only took six months to sell. I think not over-pricing the house is key and having an agent that worked his butt off keeping interest up in the house. We weren't greedy but also didn't feel like we gave the house away for nothing. Good luck.
We're casually looking to buy (and if we do, we'll be selling as well, so I'm seeing things from both sides of the coin) and I'm seeing the same thing.
I wouldn't say that the sellers are "greedy", because that term casts judgment on them; I would say that the sellers are unrealistic and engaging in wishful thinking in setting their selling price.
I see the same houses sitting on the market for months, with sellers slowly lowering the price, many eventually going down 20% in the asking price before they sell (and who knows if they end up selling even below that).
This fall/winter things will be ugly for those who need to sell and didn't price wisely during the spring/early summer seasonal uptick in buyer activity.
I like your terms much better as well. "unrealistic and engaging in wishful thinking" is a perfect way to describe it.
No, it's the truth. You might be an exception or you might have been priced low and still came off your asking price. What I posted is accurate.
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I am so done with this process!
