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Old 08-17-2013, 12:39 PM
 
6,352 posts, read 5,188,388 times
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My house has been on the market 3 weeks now. It had some traffic the first couple of weeks but now things have come almost to a halt. I did have someone look at it this past Monday though.

Last weekend I had no one looking and so far this weekend no calls to view it.

I could have sold it, but I don't have to sell and not willing to take a low ball offer. The house is priced comparatively to other homes in my neighborhood so I won't lower the listing price. I know I could and I know I could then sell it but right now I'm not willing to.

I hear realtors say all the time that the first weeks after being listed is when you get the most action and then things slow down. Why is that? Is it because the same buyers have been looking for awhile and they see a new listing and they all want to see it hence all the traffic coming in at once? That would make sense.

But wouldn't there always be new potential buyers deciding to look later down the road after your house was listed and this would bring you some traffic to your home also? Don't different buyers look at different times? Why would it be expected, if I did need to sell it, to lower the price just because the potential buyers on the market right when I listed my house did not make good offers? Does that necessarily mean later on new potential buyers won't make a good offer?

For instance let's say in 2 months from now a new buyer goes to a realtor site and sees your home listed and really likes the looks of it and wants to view it. They see it's been on the market for 3 months. Is that telling them your house is overpriced and they will low ball you thinking you need to sell? What other reasons is it bad to have your house on the market for a longer period of time and when should you just give in and un-list it and just wait it out for later?

Let's say for example I keep it on the market at the same price for 6 months total. What are the odds that I might get the price I want later down the road? How often have you seen that happen or is it extremely rare?

Last edited by diddlydudette; 08-17-2013 at 12:50 PM..
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Old 08-17-2013, 12:47 PM
 
Location: Hot Springs, Arkansas
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The first thing to do is to know whether or not the agent is competent to sell the house. What you need is what you should be told is the value and not necessarily what you want to hear. And much depends on your local market. It may be that the house is priced right or it could be priced too high. Price is the one thing that will more likely than not determine success. And it only takes one buyer.

As a general rule of thumb you should get three comparative analysis's by three top realtors. That would be the first start. And of course you want someone you feel you can comfortably work with.

I would agree that the most traffic will be found in the first few days. That is quite typical.
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Old 08-17-2013, 12:59 PM
 
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Thanks rmissourimule,

I did interview different realtors and I feel confident in my pick. In looking at the CMA, it is priced in line with other homes.

I do know 2 other homes for sale in my neighborhood are definitely overpriced. One is on my cul-de-sac. I haven't seen anyone looking at that house and I can for sure understand why. Crazy that a realtor would have agreed to list it at that price. I made sure I looked at the realtors name so I knew to steer clear of ever dealing with that person.
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Old 08-17-2013, 01:02 PM
 
Location: Newport Beach, California
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You need to be patient.

My parents had a rental property located in Rowland Heights, California. They decided to sell that house RIGHT after 911 attack. Agent told them that because of the timing, they perhaps need to consider lowering the price of the house for a quick sell. My parents decided to ignore that advice and stick with the original listing price.

I don't think they got any offers within the first two weeks. But after 3 weeks, potential buyers started offering them good prices for the property. My parents ended up selling their house to a cash buyer at original listing price.

Be patient.
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Old 08-17-2013, 01:04 PM
 
Location: Berkeley Neighborhood, Denver, CO USA
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Default Simpsonville, SC ?

I see lots of houses for sale in Simpsonville, SC.
You may need to rethink your pricing strategy.
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Old 08-17-2013, 01:05 PM
 
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lilyflower319191, that sounds promising. That's what I like to hear. Thanks for the response.
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Old 08-17-2013, 01:06 PM
 
Location: North Idaho
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Yes, new buyers come on the market all the time.

If you want to sell, your house has to be the best one at that price. So, if it is priced just like similar houses, yours has to be the cleanest, the best location, have the best lawn, or be the best decorated. It has to be the one that meets whatever criteria that buyer has.

Different buyers all have different criteria. But whatever their criteria, they are going to look at houses in their price range and pick the best one for the money.
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Old 08-17-2013, 01:07 PM
 
6,352 posts, read 5,188,388 times
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Quote:
Originally Posted by davebarnes View Post
I see lots of houses for sale in Simpsonville, SC.
You may need to rethink your pricing strategy.
Lots of houses for sale in lots of places in the country.

Yes, I realize if I lower my price, I can sell, but right now I'm not willing.
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Old 08-17-2013, 01:10 PM
 
396 posts, read 1,736,347 times
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Quote:
Originally Posted by diddlydudette View Post
My house has been on the market 3 weeks now. It had some traffic the first couple of weeks but now things have come almost to a halt. I did have someone look at it this past Monday though.

Last weekend I had no one looking and so far this weekend no calls to view it.
As a home buyer, I noticed in July that dozens of saved properties in my MLS portfolio were changing status from For Sale to Pending. (I get e-mail alerts every time one of those properties' status changes.) They were changing within two weeks of listing - like a fire sale was going on.

Ever since August rolled around, many of the newly added properties in my saved portfolio still are stuck at "For Sale." Might be because of the interest rates. But also probably too late for the buyers to move into the home by Labor Day weekend. Many schools are starting soon or already have begun.
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Old 08-17-2013, 01:15 PM
 
6,352 posts, read 5,188,388 times
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Quote:
Originally Posted by Sky-Blue View Post
As a home buyer, I noticed in July that dozens of saved properties in my MLS portfolio were changing status from For Sale to Pending. (I get e-mail alerts every time one of those properties' statuses change.) They were changing within two weeks of listing - like a fire sale was going on.

Ever since August rolled around, many of the newly added properties in my saved portfolio still are stuck at "For Sale." Might be because of the interest rates. But also probably too late for the buyer to move into the home by Labor Day weekend. Many schools are starting soon or already have begun.
Thanks. That makes sense. I was probably a little late putting my house on the market. When I decided to go ahead and list it, I knew it was later in the summer.

I also was thinking people were in a rush to buy now before the interest rates increased too much.

I think I'll just wait it out and be patient and see what happens. If it doesn't sell then it doesn't sell.
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