Real Estate Market? Wasilla.. Our house is for sale wondering DOM? (Anchorage: days on market, how much)

[Candyleighs]

Hi!
I just was wondering if any of you had an idea of average days on market for the Anchorage/Wasilla area? I know that real estate is moving quick from what I hear in Anchorage just not sure about the Valley. We listed our house here in Wasilla for sale a little over 3 weeks ago and I guess I am just impatient. If you have sold a house recently how long did it stay on the market for? We sit on 2.65 acres and I guess I thought the market was moving pretty quick here as well but it seems to have slowed down in Wasilla some. Just wondering if anyone else also has their house on the market or has sold recently how long it took! Thank you so much! I have read a lot of different things on regarding this topic in other states just not in ours! Hope you all are having a wonderful day!

[Chilkoot]

According to this site the average days on the market for Wasilla is 131.
Wasilla Homes For Sale | Wasilla Alaska Real Estate

[AK76]

Remain patient and try not to compare how quickly or slowly one house sold vs. another. You have to have the right house at the right price and the right buyer to walk in and want it, without all three of those things it will not sell. It can happen on the first day or two years down the road.

Have you ask your realtor if there is anything he/she thinks could be down to make the property more attractive, do they think the listing price is too high to garner interest, is it difficult to access, well and septic or city water and sewer(I know, rare in the valley), etc.

If you have had no offers and/or traffic is low, I suspect you need to make an adjustment someplace. You may have a great piece of property but perhaps it is off the beaten path somewhat and it is worth every penny you are asking, except THE buyer has just not come along. Lowering the price could induce more interest in those who may be willing to tolerate a little more inconvenience, and so on.

Have a heart to heart with your realtor and get their opinion, if they are a hard sell on the price and your contract has expired, perhaps consider hiring a different professional.

These are merely suggestions without having any knowledge of your property or situation other than what you have posted, and no, I am not in the real estate industry.

[AKStafford]

2.65 acres? Hmmm... Any chance you'd be willing to share the listing here?

[AlaskaErik]

It all depends on if it's priced right. The neighbors across the street have had their house on the market for years, but it's way overpriced. I priced mine right and it sold in less than a month. With the bidding war we actually got over the asking price. Here is the problem with overpricing: If you have a $290,000 house and you put it on the market for $329,000 the people looking for a $329,000 house will be comparing it to other houses in that price range and they'll know it's not worth $329,000, while the people looking for a $290,000 house won't see it because it's priced at $329,000 and they're looking in the $290,000 price range. It doesn't matter what you paid for your house or what the borough assesses it at or how much you owe on it or what you think it's worth, etc. It's worth what a buyer is willing to pay for it.

[AK76]

Originally Posted by AlaskaErik

It all depends on if it's priced right. The neighbors across the street have had their house on the market for years, but it's way overpriced. I priced mine right and it sold in less than a month. With the bidding war we actually got over the asking price. Here is the problem with overpricing: If you have a $290,000 house and you put it on the market for $329,000 the people looking for a $329,000 house will be comparing it to other houses in that price range and they'll know it's not worth $329,000, while the people looking for a $290,000 house won't see it because it's priced at $329,000 and they're looking in the $290,000 price range. It doesn't matter what you paid for your house or what the borough assesses it at or how much you owe on it or what you think it's worth, etc. It's worth what a buyer is willing to pay for it.

That's a fact! It is crazy how many people seem not to understand that the value of anything is only what someone is willing to pay for it.

[ericathynes]

What is the list price? I can give you exact DOM for your price range. I'm a realtor and our brokerage supplies up with stats for each market (Anchorage and Wasilla are quite different) and breaks it down to price range. Three weeks certainly isn't that long, and you missed the opening of when the market was really hot and it may have moved quickly. I was in many multiple offer situations this spring, but the market cooled as we got through the summer. If you want you house to move quickly, you need to price it aggressively. If you want to receive market value, hang in there! I know it's hard keeping up the house with showings, etc, but just be patient. We are in a sellers market, which means most homes are selling in less than four months. A balanced or neutral market is six months of inventory, if DOM is more than six months, it's a buyers market and we haven't had one of those recently! If you've had many homes in your area sell recently, then you can even break down the DOM even more, just ask your realtor that's what you hired them for! Good luck!