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Some people looked at my house on Wednesday, late afternoon. Yesterday around 10:00 we were told they liked our house and 2 others and were deciding between them. They needed a Oct 24th move-in date. They also said that my house was the most expensive of the 3 and that may be a factor. My realtor responded that we were negotiable on price and would have no problem with the move-in time. We have heard nothing back. What is the usual time people take to make a decision? I feel like we are not going to get an offer since it has been over 24 hours but maybe I am getting to down in the dumps to soon?
there is no usual time, especially in this crazy, mixed up market. Could be right away, could be a month. Really. Not kidding here.
Why is your home the most expensive? is it also the most expensive in the area? I don't like the sound of that.. have your agent check your competition. And your competition is not only your neighborhood, but similar neighborhoods in similar school districts. Your buyer will look at ALL OF THEM to find the "best" deal and home....
there is no usual time, especially in this crazy, mixed up market. Could be right away, could be a month. Really. Not kidding here.
Why is your home the most expensive? is it also the most expensive in the area? I don't like the sound of that.. have your agent check your competition. And your competition is not only your neighborhood, but similar neighborhoods in similar school districts. Your buyer will look at ALL OF THEM to find the "best" deal and home....
shelly
She is checking on the comps and I have been too. They are really all over the board sue to some forclosures. Not in my immediate neighborhood but there are some in my city. So that is probaly why mine is most expensive. And I don't really know how much more expensive they are talking either. My realtor is trying to dig into it.
Apparently the other two homes are vacant which makes me believe they are most likely forclosures. I don't know though.
I would think if they want an October 24th move-in date, they would be making up their mind quite soon, right?
The current economic uncertainties are redefining "normal". Maybe the buyers got cold feet. Maybe your home was used to sell another home that is priced better. Maybe they are negotiating on another home.
What kind of broker are you using, a full service or flat fee? If it's the former, it sounds like your agent may not be on top of your local market. A CMA is a living document. Every subsequent closed sale, new listing and price adjustment impacts your home value in all markets.
Both of you should know the competition. If you are indeed competing with foreclosed homes, you should know this. They are hardly a secret.
If your ask price is not based on the facts of your local market, how can the price be defended?
The current economic uncertainties are redefining "normal". Maybe the buyers got cold feet. Maybe your home was used to sell another home that is priced better. Maybe they are negotiating on another home.
What kind of broker are you using, a full service or flat fee? If it's the former, it sounds like your agent may not be on top of your local market. A CMA is a living document. Every subsequent closed sale, new listing and price adjustment impacts your home value in all markets.
Both of you should know the competition. If you are indeed competing with foreclosed homes, you should know this. They are hardly a secret.
If your ask price is not based on the facts of your local market, how can the price be defended?
We both know the competition. But we don't know which other two homes they are considering. They could be looking in several cities even so unless they give up the other two homes they are looking at, there is no way to know for sure.
I believe my price to be fair and all the agents that have shown my home have said that it is priced right, so that is what I am going by. Of course I am willing to talk price with a potential buyer though.
We both know the competition. But we don't know which other two homes they are considering. They could be looking in several cities even so unless they give up the other two homes they are looking at, there is no way to know for sure.
I believe my price to be fair and all the agents that have shown my home have said that it is priced right, so that is what I am going by. Of course I am willing to talk price with a potential buyer though.
Kristine
I understand. Thanks for the clarification. Just a thought here.....do not put too much value in what other agents say about your price point. You do not know their motivation.
All advice sounds great, and appears your on top of the hunt. Might consider offering to pay some closing, and have your agent throw that in.
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