[Sunandsand]

Originally Posted by Mike Peterson

If a house does not get shown it does not get sold except in the most unusual circumstance.
As I said price is one of the things that factors into gettings showings.

Ask your friends that have been in real estate 30 years how often a house gets sold if it is never shown.
Then ask them, if a house gets shown many times does it have a better chance of getting sold.

The answers should be, a home will almost never get sold if it isn't shown and if a house is shown many times it has a better chance of getting sold.

You don't get offers if you don't get showings.

Houses that are priced right sell. Some sell with 1 showing, some 3, some 20. The number of showings is not what sells the house and can vary based on many things.

A house near us has had over 30 showings and not one offer. Why? The seller has offered a $5000 incentive, above the commission, to the agent that sells it. So every agent in town brings people to see it. Will it sell? Nope, not anywhere close to the current price.

Another house 2 streets over sold last month on the 2nd showing. Why? It was priced at 2000 pricing plus 4% per year appreciation. The seller's agent explained how the price was set, the buyers liked the fairness of the pricing, and boom, sold.

The point is that the number of showings can be due to numerous factors. Incentives, great location for realtors driving by with clients, great curb appeal.

My realtor friends also look at the quality of showings. A showing where the home shopper runs through the house with no real interest happens all the time. There are 5 minute showings when realtors take people through overpriced houses that are wrong for them. And there are 45 minute showings when the buyer and the houses are both matched up well by the agent.

they both go on the books as a showing, but are totally different.

[House4Sale]

Our last agent put it on Zillow but he never answered his phone nor returned phone calls. We are glad to be rid of him. I'll look into posting it up there again, h.napster. Thanks!

[TampaKaren]

Originally Posted by Sunandsand

It was priced at 2000 pricing plus 4% per year appreciation.

I've been using late 2002-2003 comps, so now I'm anxious to see how far off base (or on) I am using the scenario above. Of course, neither is perfect and one has to factor in current comps where available.

Thanks!
Karen.

[House4Sale]

True Sun and Sand, many factors figure into a house sale and I also see Mr. Peterson's point that a house must show in order for it to sell.

My agent just wrote me today and said she is processing two more contracts/pendings and is encouraged. More houses are selling from her office than had several months ago. We are in line.

[House4Sale]

V20, good points you make. We asked the agent what we should list the house at and then went lower.

[House4Sale]

We take one day at a time, ten, and in the area we are listed, well there is more activity and things are picking up.

[carolac]

How do you find out what the prices were in 2002-2003, or any past year for that matter? Thanks!

Originally Posted by TampaKaren

I've been using late 2002-2003 comps, so now I'm anxious to see how far off base (or on) I am using the scenario above. Of course, neither is perfect and one has to factor in current comps where available.

Thanks!
Karen.

[2theH20]

Past couple weeks, I've heard the "end of 2008" prediction move to between 3 and *7* years from now before the market bottoms out. However, if you have big bucks, you supposedly can get a deal:

Living it up with the other half | ajc.com (http://www.ajc.com/homefinder/content/homefinder/stories/2007/10/11/homecover_1014.html - broken link)

[WOWAddict]

Originally Posted by Sunandsand

There are 5 minute showings when realtors take people through overpriced houses that are wrong for them.

This is not always the realtors fault. I currently am selling my fathers old home and its priced one of the lowest in the neighborhood. We have had 2 people want to make offers and one that actually made an offer. The only thing was that these people had never gone to even talk to a mortgage broker and when they did they could not get approved for that amount. I guess they calculated what they could afford on their own or just basically guessed.

This is mostly the fault of people shopping. When I went shopping for both my homes I knew ahead of time what I was approved for, because I did not want to waste my time looking at houses I could not afford. Some people might say the Realtor should ask for a preapproval letter, which may be true but people need to take responsibility for themselves.

[WOWAddict]

Originally Posted by 2theH20

Past couple weeks, I've heard the "end of 2008" prediction move to between 3 and *7* years from now before the market bottoms out.

Living it up with the other half | ajc.com (http://www.ajc.com/homefinder/content/homefinder/stories/2007/10/11/homecover_1014.html - broken link)

The latest one I read the market should bottom end of next year but prices will not start to rise until 2010. 3 years seems a bit extreme but I can see that happening with the flood of homes on the market right now and its getting worse everyday. You cant even rent a home out at a decent rate anymore, because there are so many rentals out there.