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We've been on the market about 65 days, have had a steady amount of showings (but no offers), we are leading the pack in pricing and live in an area that isn't drastically affected by the housing bubble (Austin) My gut tells me to leave our house on the market thru the holidays when inventory is low, and people have fewer choices, but my brain is telling me that by Spring, when the mkt picks up, we will have been on the mkt for 130+ days, we will have a lot more competition and our listing will be stale. WWYD?
In even the hottest of markets there are very few reasons to have your home on the market during the holidays. This year, with the economic conditions, the coming inaugeration/party switchover, real estate glut I think you are dead-on that an "aged listed" is going to scream for a big cut in the spring...
Without knowing why you want/need to sell my basic advice is to shelf it for now. Very few people NEED to move right know, and unless things are way different in Austin, those that do are going to be bargin hunting...
If your house isn't on the market, it won't sell. Keep it on.
Showings are nice, but since you AREN'T getting legitimate offers from qualified buyers, (Read this again, OFFERS FROM QUALIFIED BUYERS), then you ARE NOT priced right (no matter what anyone tells you).
Lower your price drastically and the MARKETwill tell you what your house is worth.
In even the hottest of markets there are very few reasons to have your home on the market during the holidays. This year, with the economic conditions, the coming inaugeration/party switchover, real estate glut I think you are dead-on that an "aged listed" is going to scream for a big cut in the spring...
Without knowing why you want/need to sell my basic advice is to shelf it for now. Very few people NEED to move right know, and unless things are way different in Austin, those that do are going to be bargin hunting...
This is TERRIBLE advice because there ARE potential buyers out there. Serious one's too. If your house is not on the market IT WON'T sell.
If the sellers LOWERS his price aggressively, it will go back on the hot sheet, AND then the market will determine if its PRICED RIGHT.
What price range are you in? Overall, RRE has 5.11 months of inventory on the market right now, and RRW has 4.64, but there's a pretty big range depending on price point. That information (how things are moving in your area in your price point) would help determine the answer.
Also, what does your agent (who has all the facts that we don't) say?
This is TERRIBLE advice because there ARE potential buyers out there. Serious one's too. If your house is not on the market IT WON'T sell.
If the sellers LOWERS his price aggressively, it will go back on the hot sheet, AND then the market will determine if its PRICED RIGHT.
I agree with Jack...leave it on. People are still buying, and just because its the holidays, doesnt mean that all buying stops. Let the other people take their houses off the market because they dont want it to interfere with their holiday festivities.
I agree with Jack...leave it on. People are still buying, and just because its the holidays, doesnt mean that all buying stops. Let the other people take their houses off the market because they dont want it to interfere with their holiday festivities.
I did peg it on the price reduction though
There were 1527 SINGLE FAMILY HOMES sold in November '07 per the Austin MLS.
I'll guarantee you not one of those sellers followed that guy's advice.
65 days doesn't seem like a disaster that totally indicts your price.
That said, as you make your decision, please consider this possibility: That the economy will get progressively and perhaps dramatically worse by spring. If that happens, how will it effect your listing price? How will it effect buyers' reaction to that price?
I have no idea what the answer for you is. But I will keep my fingers and toes crossed for you.
What is the point of taking it off the market? Keep it on! Ya know how many out of town family member will be in town over the holidays?
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