Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 07-05-2007, 12:05 PM
 
214 posts, read 1,977,430 times
Reputation: 134

Advertisements

We line in south metro Atlanta. There is a definite buyers market and due to the amount of homes in our sybdivision currently for sale we are worried our house may be up for sale for awhile. Our house looks nice from the outside, is on a bigger lot than the majority of the other homes. We just moved here 2 years ago (house built in 1996) and paid 139,900 for the house. We are willing to sell for same price. The only thing we have really done to the house is paint, new shower stall and ceremic tile in master bath, and new hot water tank. Anyway, we would like to buy a new home and move in by next July. We are not sure when to call a RE agent and put our home on the market. Any suggestions? Like I said, I am worried it will take awhile to sell due to so many other homes for sale in our area and the neighborhood seems to be going "down".
Reply With Quote Quick reply to this message

 
Old 07-05-2007, 12:22 PM
 
4,610 posts, read 11,081,980 times
Reputation: 6832
I would put it on the market now. This is the selling season.
Reply With Quote Quick reply to this message
 
Old 07-05-2007, 12:29 PM
 
214 posts, read 1,977,430 times
Reputation: 134
One more thing.. I am a teacher and where we plan on moving to is over an hour drive to my school. I plan to seek a job closer to the new home for the next school year (2008-2009) but will be working at my present school this year. Putting the house up for sale now is really not an option. We are not ready to move quite yet.
Reply With Quote Quick reply to this message
 
Old 07-05-2007, 01:06 PM
 
Location: central California
114 posts, read 397,113 times
Reputation: 57
Sounds like this year might be a little too soon to list. It is the selling season, (spring through summer, early fall), but as an agent showing homes, most buyers have limited timelines to make their own decisions, knowing they need to find their replacement home within, say 30 days, so they can also sell their own homes time for school to start, etc. So if you offer yours too soon, you may decline motivated buyers, who then have to keep looking, under pressure. By waiting to get your new job lined out first, you will be more in control. You can always rent while you look for the perfect place. If you sell your house but can't get the job, you may not want to sell after all. Does this make sense?

From an agent's perspective, it is expensive to market a home for a seller who is undecided. We run ads until it's sold, and if we have a home that sits on the market 'too long', other agents (and buyers) wonder what is wrong with the house (they do not know if offers are coming in and if buyers are changing their minds or what). Eventually, the listing expires or showings cease.
Also, unless the interest rates go up, next year might be a better seller's market. This is not an exact science. If you were to wait a year, you might get more, or decide to lease your home, move to the new area, and rent, and wait out the market. Most people would rather not rent their home, of course, but time is on your side unless interest goes up a lot. Just some thoughts to consider. In our market with high prices, it is taking at least 120 days minimum, or 4-12 months to sell a home. If it's like that there, maybe listing now would assure you a sale before next year, but waiting until after tax season (April) is one strategy. By then, the holidays are over, and buyers are beginning to look for that season.
Reply With Quote Quick reply to this message
 
Old 07-05-2007, 07:39 PM
 
Location: Virginia Beach, VA
2,124 posts, read 8,822,978 times
Reputation: 818
If we knew that interest rates are not going to go up (and we don't) and we knew the market would pick up (and we don't), then I would put my home on the market in February, no later than March. That gets you out in front of the Spring market. Do it after the super bowl, when the weather is starting to warm. However, we have no idea what the market is going to do. But since you are not ready to do anything right now, then wait through the winter and take advantage of the spring. Spend your winter time getting the house ready to list, do your homework, interview your agents, pick the right one, and GO!!

good luck,

shelly
Reply With Quote Quick reply to this message
 
Old 07-05-2007, 08:15 PM
 
214 posts, read 1,977,430 times
Reputation: 134
Shelly,
I was thinking February or early March would be good. (then even if we do have a quick sale (I wish!) if I have to commute an hour to work a day that is fine! (especially if I have a new house to go home to!)
Quick question about our kitchen floor. Our kitchen is huge and probably the highlight of our home. Unfortunately the floor is cheap linoleum (sp?) and has many cuts and scratches from our family and previous owners. We have not replaced it due to us knowing we will be moving but I was wondering if it would be worth putting pergo or similar in to up our chances to sell it?
Reply With Quote Quick reply to this message
 
Old 07-05-2007, 08:22 PM
 
Location: Virginia Beach, VA
2,124 posts, read 8,822,978 times
Reputation: 818
What is selling in your neighborhood? Go to some open houses and see in your neighborhood. Generally, I would say you could get a quicker sale with an upgraded floor, a better grade vinyl or laminated wood or real wood depending on what you are competing against, but you may not get back what you put into it, money wise. But since you are planning this far enough in advance, go and see what the others have, do your homework, so you have the best listing when you do put it on the market next spring.

shelly
Reply With Quote Quick reply to this message
 
Old 07-05-2007, 09:06 PM
 
Location: Athens, Ga
81 posts, read 349,558 times
Reputation: 52
You really need to go ahead and choose an agent, even if you don't start marketing until next year, so that you can get market data (especially days on the market for your subdivision and the immediate surrounding competition) that is specific for your neighborhood. Whey you have the market stats for your specific area, you will have a much clearer picture of when you need to place you home on the market so that it will be sold by your target date at the latest.
Reply With Quote Quick reply to this message
 
Old 07-05-2007, 09:16 PM
 
376 posts, read 1,502,614 times
Reputation: 164
I love this question because many sellers miss the opportunity to get the most for their homes because they list their homes in summer (when everyone else does). I understand with school/vacations etc this is tempting but here in Socal we see a very real trend. Listings between Jan/April generally sell quicker and for more, why because the inventory is lighter and less demand. Have your agent pull some comps for you during that time period and pay attention to the pricing and days on the market. Then pull -May-July and I am sure you will see the trend changing to longer days on the market and pricing starting to come down. Here in the late summer we begin seeing pricing decrease as sellers panic and want to be settled before the school year starts. Further reductions come Oct or the homes come off the market due to upcoming holidays. The beling season is really early spring!
Reply With Quote Quick reply to this message
 
Old 07-06-2007, 05:29 AM
 
Location: Stuck on the East Coast, hoping to head West
4,640 posts, read 11,890,196 times
Reputation: 9885
I second kturbe's post. I was really surprised when my neighbor sold her house last winter, in the second week of Jan for a price about 10% higher than what the other homes had gone for the previous summer. I've seen her house and it was ok, but not any different than the other houses I'd seen. Also, she had a red bedroom so to me that alone would've been a turnoff. Anyway, I'm not an agent, but I think buyers who are looking in the dead of winter are very serious buyers and ready to deal and there are far fewer houses are on the market at a that time so the seller doesn't have as much competition.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top