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Our house has only been on the market for about 55 days, but we are considering pulling it off the market for the high dry days of mid-December to mid-February or early March.
Our thinking is that if almost nobody looks at homes during that period, we could avoid accruing DOM which seems to be a buyer's favorite weapon for low bids. Good idea or just dumb?
We did that last time; it costs nothing to keep it listed (except having it ready to show). Keep it listed; we wish we had. If ours sells here, we will be looking to buy during that time frame...
You may be missing out on the serious buyers, those who are looking during that time period because they have to buy and also the tax credit buyers. There are a lot fewer window shoppers, etc. In my market stuff is going under contract left and right right now, usually the cheap stuff under 250k and the new construction in the 500ks.
November and December is traditionally my busiest time of the year. THere are definitely buyers out there who rather have kids switch schools during semester break, or close by Dec 31 for the tax write off for the year and homestead exemption which you have to own the house Jan 1 to claim.
I think anything on the market more than 30 days is overpriced and I don't even bother to go see it. Houses priced accurately sell in less than a month.
As you can see already by the above posts, this is a question that varies CONSIDERABLY by location.
I would try to casually ask you listing agent about the pros & cons of pulling your listing in YOUR PARTICULAR market. You might be surprised by their response...
Location: Sometimes Maryland, sometimes NoVA. Depends on the day of the week
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When we last moved, we got word in Nov and had to report Jan 1. Lots of folks pulled off the market for the holidays, and there were quite a few houses where our agent called for a showing and the owner said we they weren't showing during Dec. And we were very serious buyers. Ended up getting a rental apartment, which was our downfall shopping wise (probably would have bought before Jan, but since we didn't and were in a 6 month lease, spent WAAAAAY too much time looking and being picky)
Thanks for all the input. I know that in this market 55 days is not much at all (particularly in my town and my price range). I just thought that if I took it off the market for the deep winter when there are even fewer buyers than now, by mid-spring I would have a lower cumulative DOM. I appreciate the thoughtful comments that have given me another point of view.
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