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 01-08-2018, 10:49 AM
 
Location: Grosse Ile Michigan
29,608 posts, read 71,706,145 times
Reputation: 36904

Advertisements

We listed our house in the spring(ish) we did not get it ready until June. By august we had no interesting offers and were prepared to pull it off the market and relist it the following spring.

We were only going to move in the summer to avoid disrupting the kid's lives as much as possible, and we were not going to sell it if we could not get the price we were looking for.

We did not end up relisting because when we told the realtor to pull it off the market, she called a guy who had made a low-ball offer and told him we were pulling it off the market and he came back with a serious offer.

Had we not sol it, we may have relisted it the following year, or we may have waited a year or more, depending on how entrenched the kids were in school. We kind of wanted to move, but did not have to, so we were prepared to wait for the right buyer, or let the market rise a bit more if needed. Regardless of whether that mean waiting a year or two or three to relist it.
Rate this post positively Reply With Quote Quick reply to this message

 
Old 01-10-2018, 04:09 PM
 
Location: los angeles county
1,765 posts, read 1,773,342 times
Reputation: 1877
I see you're in crazy socal.

yeah, people do crap like this here.
They think they can make a profit off the rising house prices, then realize there's nothing to buy with all the inflated prices.
30 days later they change their minds and take it off market.

Other times, they're duped by agents who use it as free advertising, telling homeowners that their home can sell for eyepopping prices.
I often see agents list homes at super inflated prices for 30 days, just to stick a sign in the yard and field inquiries.
Any competent agent knows the CMA doesn't support the price. But agents do it anyway because there are almost no consequences to having a ton of expired listings under their belt.
No one cares about an agent's "Listings taken/Listings sold" ratio.
An agent can take 1000 listings, and only sell 25 of them, and people will only look at the 25 homes he sold.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 01-12-2018, 11:15 AM
 
Location: Raleigh NC
23,226 posts, read 12,673,211 times
Reputation: 13677
Quote:
Originally Posted by City Guy997S View Post
Funny, I always joke that if you buy a realtor's own home you are overpaying for it! I guess I was right!
no, that was somewhat in jest. As far as I'm concerned, every house is for sale, it may just be at a much higher % of market value to get them out.

The 2 houses I have sold, both sold much faster than market time - less than 2 weeks when average would be 90 days. I always ask what is a very reasonable $$ amount, and make sure the house is ready day 1 of the market.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 01-12-2018, 11:27 AM
 
4,690 posts, read 9,045,744 times
Reputation: 14800
Don't know about others, but my wife and I recently did it (well, 12/2016) ~ had an offer at 5 days and had to seriously think about moving.... again... for the 9th time since 2004. We simply couldn't do it, so the offer was declined and the listing pulled. Opps, Zillow shows 6 days, maybe there was a little lag....

Hated it for our listing agent, but he's gotten 9% off us in the past few years anyway.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 01-13-2018, 09:15 PM
 
Location: Saint John, IN
11,584 posts, read 5,447,316 times
Reputation: 14741
Quote:
Originally Posted by Brian_M View Post
Don't know about others, but my wife and I recently did it (well, 12/2016) ~ had an offer at 5 days and had to seriously think about moving.... again... for the 9th time since 2004. We simply couldn't do it, so the offer was declined and the listing pulled. Opps, Zillow shows 6 days, maybe there was a little lag....

Hated it for our listing agent, but he's gotten 9% off us in the past few years anyway.
So you listed your house for sale, got an offer and then changed your mind and decided not to sell??
Rate this post positively Reply With Quote Quick reply to this message
 
Old 01-14-2018, 01:02 AM
 
7,654 posts, read 4,140,843 times
Reputation: 4997
Quote:
Originally Posted by Nov3 View Post
One home that was on my list came on the market in 2013. Way to high priced. They got two offers and it fell thru. Took it off the market and six months later reduced the price 50 k. Now it was in my range. So I made an offer...20k below their price. They declined. (Bad mistake!). Again they take it off the market. A land developer bought the acres behind them...Started putting up gawdy townhomes..And suddenly these folks knew they had to move. Their agent started calling all us who put in a bid...We declined. We saw what this new development was going to cause....More traffic and more taxes...Took these folks 2 1/2 yrs to unload that beautiful home. It sold for 20k less then what I had offered. It was a gorgeous home...But no longer had the lovely farm views...I'm glad I didn't get it..Cuz 8 months later I lost my lucrative job and learned how to pinch pennies. Bless those who can be so confident they have a job for 15-20 years more. .
I agree, once my step son is out of school, there is no reason we could not sell our house and live out of a motor home touring north america. Doing gig work here and there, etc.

Having a steady job for 15-30 years seems like a huge risk. Although it would be nice to have a base of operations to bring the motor home back to ...
Rate this post positively Reply With Quote Quick reply to this message
 
Old 01-14-2018, 08:56 AM
 
8,231 posts, read 13,022,959 times
Reputation: 11194
Quote:
Originally Posted by bookspage View Post
I agree with a previous comment, I found it's usually empty nesters doing this. I found it extremely annoying as a buyer last year.

Folks who do this need a therapist more than a real estate agent
There is a house in the market I'm looking that falls into this category according to my realtor.
Its a low inventory high speed market so I don't know what to think.
But apparently yes, their children are out and in another part of the country.
The price just seems so high, but in that market who knows.
Drives me a bit nuts because I've been looking a long time and this sort of thing
is frustrating. I don't even like it but would consider it if the price is reasonable but even with the
price reduction I think its too much (good for that realtor getting them to see some sense though).
I'm on a 5 year plan so I have to be careful, not planning on living there longer so
I have to be able to sell without losing money. (Breaking even would be fine)

Price History
DATE EVENT PRICE $/SQFT
09/08/17 Price change $334,900-14.1% $221
08/24/17 Listed for sale $390,000+11.4% $257
11/05/15 Listing removed $350,000 $231
05/12/15 Listed for sale $350,000 $231
05/27/11 Listing removed $350,000 $231

They did put on vinyl siding in there at some point.

Honestly I'm surprised realtors take on clients like this. But in this market, lake property they might get it this spring.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 01-15-2018, 08:35 AM
 
Location: Grosse Ile Michigan
29,608 posts, read 71,706,145 times
Reputation: 36904
Quote:
Originally Posted by CGab View Post
So you listed your house for sale, got an offer and then changed your mind and decided not to sell??
We did that. The offer was a lowball offer. We decided if we could not get more than that, we woudl just stay. We told the Realtor we decided to pull the house and maybe list it the next year. She called the offeror and told him we were pulling the house off the market and suddenly the offer jumped up $150K. That was not our goal, but at that time, moving started to look appealing once again, so we negotiated a lightly higher price and sold it.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 01-16-2018, 02:07 PM
 
9,866 posts, read 10,054,275 times
Reputation: 21885
Quote:
Originally Posted by Brian_M View Post
Don't know about others, but my wife and I recently did it (well, 12/2016) ~ had an offer at 5 days and had to seriously think about moving.... again... for the 9th time since 2004. We simply couldn't do it, so the offer was declined and the listing pulled. Opps, Zillow shows 6 days, maybe there was a little lag....

Hated it for our listing agent, but he's gotten 9% off us in the past few years anyway.
If the offer had been for full price and a legitimate sale meeting terms you requested and they were qualified for a mortgage etc., you would have still owed the agent the full commission you were offering on the property, as they did their part of providing a buyer.

Years ago I sold a grocery store owned by a broker, and ran by her son. I sold the husband a combination mobile home park, and log cabin restaurant business, and the wife made a full price offer on the restaurant, and both were qualified to buy. The brokers son told her if she sold the store out from under him, he and his family were leaving the area. The broker told me when we were getting near closing, she would not close as she did not want to lose her only child and his family. The buyer agreed to let her not close even though they could have forced the sale. I had earned a $47,000 commission, which the Realtor arbitrators told her to pay, and she did.

This property was 200 miles from my office, on the other side of the state. I had spent 4 days over there involving the sale, and handling the different things that had to be done towards closing the sale. That broker was a long time broker, and she held high office in the State Realtors Association. She knew the laws, and should not have asked me to sell the property, if she was not willing to deliver it to the buyer. She wanted her son to give up the grocery store, and enter the real estate business with her. He did not want to enter the real estate business with her. She sold the store, to force him to do things her way. When he told her he was leaving the area the day after the store closed, she simply stopped the sale.

Word to the wise, never put a property for sale, if you are not willing to close. If you do, you may very well find there are ways that a buyer can force you to go through with the sale, or you may have to pay the commission if you do not close due you not going through with the sale.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 01-16-2018, 02:52 PM
 
5,955 posts, read 2,509,183 times
Reputation: 10506
I keep listing my house to meet chicks...
Rate this post positively 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.

© 2005-2021, 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