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We listed our house in the spring(ish) we did not get it ready until June. By august we had no interesting offers and were prepared to pull it off the market and relist it the following spring.
We were only going to move in the summer to avoid disrupting the kid's lives as much as possible, and we were not going to sell it if we could not get the price we were looking for.
We did not end up relisting because when we told the realtor to pull it off the market, she called a guy who had made a low-ball offer and told him we were pulling it off the market and he came back with a serious offer.
Had we not sol it, we may have relisted it the following year, or we may have waited a year or more, depending on how entrenched the kids were in school. We kind of wanted to move, but did not have to, so we were prepared to wait for the right buyer, or let the market rise a bit more if needed. Regardless of whether that mean waiting a year or two or three to relist it.
yeah, people do crap like this here.
They think they can make a profit off the rising house prices, then realize there's nothing to buy with all the inflated prices.
30 days later they change their minds and take it off market.
Other times, they're duped by agents who use it as free advertising, telling homeowners that their home can sell for eyepopping prices.
I often see agents list homes at super inflated prices for 30 days, just to stick a sign in the yard and field inquiries.
Any competent agent knows the CMA doesn't support the price. But agents do it anyway because there are almost no consequences to having a ton of expired listings under their belt.
No one cares about an agent's "Listings taken/Listings sold" ratio.
An agent can take 1000 listings, and only sell 25 of them, and people will only look at the 25 homes he sold.
Funny, I always joke that if you buy a realtor's own home you are overpaying for it! I guess I was right!
no, that was somewhat in jest. As far as I'm concerned, every house is for sale, it may just be at a much higher % of market value to get them out.
The 2 houses I have sold, both sold much faster than market time - less than 2 weeks when average would be 90 days. I always ask what is a very reasonable $$ amount, and make sure the house is ready day 1 of the market.
Don't know about others, but my wife and I recently did it (well, 12/2016) ~ had an offer at 5 days and had to seriously think about moving.... again... for the 9th time since 2004. We simply couldn't do it, so the offer was declined and the listing pulled. Opps, Zillow shows 6 days, maybe there was a little lag....
Hated it for our listing agent, but he's gotten 9% off us in the past few years anyway.
Don't know about others, but my wife and I recently did it (well, 12/2016) ~ had an offer at 5 days and had to seriously think about moving.... again... for the 9th time since 2004. We simply couldn't do it, so the offer was declined and the listing pulled. Opps, Zillow shows 6 days, maybe there was a little lag....
Hated it for our listing agent, but he's gotten 9% off us in the past few years anyway.
So you listed your house for sale, got an offer and then changed your mind and decided not to sell??
One home that was on my list came on the market in 2013. Way to high priced. They got two offers and it fell thru. Took it off the market and six months later reduced the price 50 k. Now it was in my range. So I made an offer...20k below their price. They declined. (Bad mistake!). Again they take it off the market. A land developer bought the acres behind them...Started putting up gawdy townhomes..And suddenly these folks knew they had to move. Their agent started calling all us who put in a bid...We declined. We saw what this new development was going to cause....More traffic and more taxes...Took these folks 2 1/2 yrs to unload that beautiful home. It sold for 20k less then what I had offered. It was a gorgeous home...But no longer had the lovely farm views...I'm glad I didn't get it..Cuz 8 months later I lost my lucrative job and learned how to pinch pennies. Bless those who can be so confident they have a job for 15-20 years more. .
I agree, once my step son is out of school, there is no reason we could not sell our house and live out of a motor home touring north america. Doing gig work here and there, etc.
Having a steady job for 15-30 years seems like a huge risk. Although it would be nice to have a base of operations to bring the motor home back to ...
I agree with a previous comment, I found it's usually empty nesters doing this. I found it extremely annoying as a buyer last year.
Folks who do this need a therapist more than a real estate agent
There is a house in the market I'm looking that falls into this category according to my realtor.
Its a low inventory high speed market so I don't know what to think.
But apparently yes, their children are out and in another part of the country.
The price just seems so high, but in that market who knows.
Drives me a bit nuts because I've been looking a long time and this sort of thing
is frustrating. I don't even like it but would consider it if the price is reasonable but even with the
price reduction I think its too much (good for that realtor getting them to see some sense though).
I'm on a 5 year plan so I have to be careful, not planning on living there longer so
I have to be able to sell without losing money. (Breaking even would be fine)
Price History
DATE EVENT PRICE $/SQFT
09/08/17 Price change $334,900-14.1% $221
08/24/17 Listed for sale $390,000+11.4% $257
11/05/15 Listing removed $350,000 $231
05/12/15 Listed for sale $350,000 $231
05/27/11 Listing removed $350,000 $231
They did put on vinyl siding in there at some point.
Honestly I'm surprised realtors take on clients like this. But in this market, lake property they might get it this spring.
So you listed your house for sale, got an offer and then changed your mind and decided not to sell??
We did that. The offer was a lowball offer. We decided if we could not get more than that, we woudl just stay. We told the Realtor we decided to pull the house and maybe list it the next year. She called the offeror and told him we were pulling the house off the market and suddenly the offer jumped up $150K. That was not our goal, but at that time, moving started to look appealing once again, so we negotiated a lightly higher price and sold it.
Don't know about others, but my wife and I recently did it (well, 12/2016) ~ had an offer at 5 days and had to seriously think about moving.... again... for the 9th time since 2004. We simply couldn't do it, so the offer was declined and the listing pulled. Opps, Zillow shows 6 days, maybe there was a little lag....
Hated it for our listing agent, but he's gotten 9% off us in the past few years anyway.
If the offer had been for full price and a legitimate sale meeting terms you requested and they were qualified for a mortgage etc., you would have still owed the agent the full commission you were offering on the property, as they did their part of providing a buyer.
Years ago I sold a grocery store owned by a broker, and ran by her son. I sold the husband a combination mobile home park, and log cabin restaurant business, and the wife made a full price offer on the restaurant, and both were qualified to buy. The brokers son told her if she sold the store out from under him, he and his family were leaving the area. The broker told me when we were getting near closing, she would not close as she did not want to lose her only child and his family. The buyer agreed to let her not close even though they could have forced the sale. I had earned a $47,000 commission, which the Realtor arbitrators told her to pay, and she did.
This property was 200 miles from my office, on the other side of the state. I had spent 4 days over there involving the sale, and handling the different things that had to be done towards closing the sale. That broker was a long time broker, and she held high office in the State Realtors Association. She knew the laws, and should not have asked me to sell the property, if she was not willing to deliver it to the buyer. She wanted her son to give up the grocery store, and enter the real estate business with her. He did not want to enter the real estate business with her. She sold the store, to force him to do things her way. When he told her he was leaving the area the day after the store closed, she simply stopped the sale.
Word to the wise, never put a property for sale, if you are not willing to close. If you do, you may very well find there are ways that a buyer can force you to go through with the sale, or you may have to pay the commission if you do not close due you not going through with the sale.
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