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Old 07-11-2006, 10:14 AM
 
1,035 posts, read 2,595,000 times
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Whether its a buyers market or a sellers market is dependant on the area...
and perception of that area.

Where there is a lot of supply and demand, markets tend to be more balanced.
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Old 07-11-2006, 10:17 AM
 
1,126 posts, read 3,504,435 times
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Quote:
Originally Posted by Weis02
looking online at all the houses also gives great ideas...

as for selling house, one priced right will always sell-you have to look at see what similar homes in the area sold - this is how realtors basically get an idea...then look at what you may have or not over these existing homes and location must also be taken into consideration. The same house with all the same features will have a price differnece is one is on a main rd and the other residential.


buyers are looking for deals now which I think is making it harder (especially here on LI) - they still have it in their heads, prices are too high) I think the market is areas that were so inflated will adjust down a little in the fall and balanceout by the spring market, which typically here is the busiest.
Its called "comps" The agent will pull a "CMA" and see what is selling in your area. Buyer are looking for deals in ALL states IMHO. This is such a bad time to sell and make money on your property. Great time to buy! Interest rates need to drop for more people to quilify. Right now there is more houses for sale than qualified buyers. Remember, there are many people who need to sell as their adjustable % is now up and that 1% or 3% is gone and the normal % is kicking in and they need to sell or loose it.
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Old 07-11-2006, 10:21 AM
 
1,126 posts, read 3,504,435 times
Reputation: 412
Quote:
Originally Posted by Weis02
Whether its a buyers market or a sellers market is dependant on the area...
and perception of that area.

Where there is a lot of supply and demand, markets tend to be more balanced.
IMHO I don't think any area is a sellers market right now. This thread proves it. Many people from many states are posting here. About 6 months ago to a year ago, houses were selling for over appraisal, at one point, if it wasn't a cash offer your offer was over looked here! Now, I see buyers wanting sellers to pay points or closing costs. Back then, if your house took longer than 10 days to sell, you were doing something wrong. Now, we are seeing 60-90 days to sell.
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Old 07-11-2006, 11:00 AM
 
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I think the market all over is correcting...if all the new houses were not being built in NC, it would be a sellers market and based on my review of re-sells over the last fwe months, some houses are increasing in price...sellers feel the motivation to live there will sell there home...one catch with that, many are looking a newer houses, so the sellers there need to have that something extra..

Here in NY, the summer real estate market is generally slower, not the best time to buy or sell, serious buyers will find a home...again spking only from what I know here in NY, the market picks up again after school begins in Sept and then before the holidays starts to slow until after the new year. Spring is a very big market here, people with children, want to sell in spring so they can move in summer when kids are not in school....the spring market 07 will be interesting here to see what the market does...
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Old 07-11-2006, 11:19 AM
 
Location: Waxhaw, NC
293 posts, read 844,092 times
Reputation: 65
Quote:
Originally Posted by mmdj43
I just went through this myself. Had private showings as well as open houses every other weekend, while making sure that the house did not look like there was too much clutter. My girlfriend suggested to bake an apple pie, but I also heard scented candles, remove most of the stuff on the front of the fridge (pics, papers, etc.), well-maintained lawn, etc. I don't think the furniture would be a problem, but definitely having less clutter would make it more attractive. I've been to open houses myself and I personally did not like seeing things 'stacked up' in a corner. It can be very stressful but you'll get thru it. Good Luck!
Hey mmdj43!
How's it going with your house? Any luck yet? We just put ours on the market a few weeks ago (Holbrook) but nothing yet. We haven't have any open houses yet. I heard not many buyers come from open houses. We're going back down to NC in a few weeks to the design center & for the pre-construction meeting. It's very stressful because we only have about a month left on the contingency. When are you moving??
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Old 07-11-2006, 12:03 PM
 
483 posts, read 1,416,290 times
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Quote:
Originally Posted by slvrcts04
Hey mmdj43!
How's it going with your house? Any luck yet? We just put ours on the market a few weeks ago (Holbrook) but nothing yet. We haven't have any open houses yet. I heard not many buyers come from open houses. We're going back down to NC in a few weeks to the design center & for the pre-construction meeting. It's very stressful because we only have about a month left on the contingency. When are you moving??
We just sold ours. We sold it for a little less than the appraised value but that's not normal with today's market. Contracts should be wrapped up some time this week or next (hopefully). I am not a big fan of open houses with the exception that you hope a bunch of buyers come within the planned 2-3 hrs as opposed to last minute private showings. Stats show that only 5% of homes are sold as a result of open houses. Our closing is not until mid-September and our house won't be ready until then, or sooner, if things are ahead of schedule. So i'm guessing that we're gonna move some time end of August or beginning of September. Did you finally pick a realtor to list your house? You may not get many buyers during open houses, especially now because it's the summer time and people are not into going to open houses, but you may see a lot of private showing requests.

So what are you going to do if you don't sell in a month? I'm surprised you have a contingency; I've seen a lot of builders hesitating to doing that. If you have a lot of equity built in the house that will more than cover the mortgage on your house (if you have one), then you may need to sell below your expectations. The key is pricing it right. We priced ours right and I didn't have a huge amount of competition because the other houses were priced high. So I got a buyer when the other houses are still trying to sell theirs. Now they are dropping their prices and that's when it becomes a competition. Keep me posted on how you're doing.
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Old 07-11-2006, 12:34 PM
 
Location: Waxhaw, NC
293 posts, read 844,092 times
Reputation: 65
Quote:
Originally Posted by mmdj43
We just sold ours. We sold it for a little less than the appraised value but that's not normal with today's market. Contracts should be wrapped up some time this week or next (hopefully). I am not a big fan of open houses with the exception that you hope a bunch of buyers come within the planned 2-3 hrs as opposed to last minute private showings. Stats show that only 5% of homes are sold as a result of open houses. Our closing is not until mid-September and our house won't be ready until then, or sooner, if things are ahead of schedule. So i'm guessing that we're gonna move some time end of August or beginning of September. Did you finally pick a realtor to list your house? You may not get many buyers during open houses, especially now because it's the summer time and people are not into going to open houses, but you may see a lot of private showing requests.

So what are you going to do if you don't sell in a month? I'm surprised you have a contingency; I've seen a lot of builders hesitating to doing that. If you have a lot of equity built in the house that will more than cover the mortgage on your house (if you have one), then you may need to sell below your expectations. The key is pricing it right. We priced ours right and I didn't have a huge amount of competition because the other houses were priced high. So I got a buyer when the other houses are still trying to sell theirs. Now they are dropping their prices and that's when it becomes a competition. Keep me posted on how you're doing.
Congratulations on selling your house! I guess you did price it right. We did get a realtor. I just checked my house on the multiple listing online & they have us down for an open house on the 15th(funny-you think they would let me know first). We might have to lower our price, but the realtor doesn't want to yet. If we don't sell our house within a month we will lose the NC house. I know there is alot to choose from there, but we had our heart set on that one. It's on a cul-de-sac & we know some people in the community. Not to mention that the real estate is going up there. Hopefully we'll be lucky,if not then we have to start from scratch.
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Old 07-11-2006, 12:57 PM
 
483 posts, read 1,416,290 times
Reputation: 178
Quote:
Originally Posted by slvrcts04
Congratulations on selling your house! I guess you did price it right. We did get a realtor. I just checked my house on the multiple listing online & they have us down for an open house on the 15th(funny-you think they would let me know first). We might have to lower our price, but the realtor doesn't want to yet. If we don't sell our house within a month we will lose the NC house. I know there is alot to choose from there, but we had our heart set on that one. It's on a cul-de-sac & we know some people in the community. Not to mention that the real estate is going up there. Hopefully we'll be lucky,if not then we have to start from scratch.
Your agent is correct. They usually wait at least a month to determine if the price should come down. I know this is not going to be easy to hear, but if you don't get the house, then there will be other opportunities. Believe me because I went thru the same thing. My husband and I looked at Holly Springs which is just outside of Raleigh and we absolutely fell in love with it. Loved the home, the lot, the price, etc. We reserved the lot in hopes that my husband would find employment in the Raleigh area but the clock was ticking and we couldn't reserve the lot any longer. So we had to walk away from it because my husband had not yet found employment. Well, his opportunity came from the Charlotte area and we were fortunate enough to find the same builder in another development in the Charlotte area and we bought the house which should be ready by the end of the summer. So it does work out, one way or another. So if this happens to you, just know that there will be other (and possibly better) opportunities. I wish you the best of luck and keep us posted.
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Old 07-11-2006, 01:11 PM
 
483 posts, read 1,416,290 times
Reputation: 178
Quote:
Originally Posted by slvrcts04
Congratulations on selling your house! I guess you did price it right. We did get a realtor. I just checked my house on the multiple listing online & they have us down for an open house on the 15th(funny-you think they would let me know first). We might have to lower our price, but the realtor doesn't want to yet. If we don't sell our house within a month we will lose the NC house. I know there is alot to choose from there, but we had our heart set on that one. It's on a cul-de-sac & we know some people in the community. Not to mention that the real estate is going up there. Hopefully we'll be lucky,if not then we have to start from scratch.
BTW, which real estate agency did you end up signing with?
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Old 07-11-2006, 09:27 PM
 
30 posts, read 155,035 times
Reputation: 87
I think realtors are shysters and try to avoid them at all costs. The current house we are in we bought from a person who was selling it themselves. They paid a lawyer-realtor $1,000 and that covered getting into the MLS, have a metal realty sign in the yard, him reviewing offers from buyers and then sharing it with the sellers and then tell us, the buyers, that it was a go.

$1,000 was all it costs the sellers. We got the house without an outrageous mark-up, the seller did not have to pay the middleman, realtor, an exhorbitant fee and everything went great. We sold my Mom's house FSBO and it went well, too.

Try help-u-sell or forsalebyowner.com if you think you need more visibility. Good luck!
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