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Old 05-15-2010, 12:51 PM
 
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Supposedly if a house is on the market too long it can create "why has it not sold" in the eyes of some. As I was looking around in Rock Hill for a small house last year, I found one that had been on the market for 256 days.

So, if a house is listed and is for sale on the market for 5 months and then removed from the listings, is there a time period the seller must wait to relist it again so that the previous 5 months on the market don't count toward the new listing period?
ex: listed 5 months, removed for 3 months waiting on the market to improve, listed again. Is that a "new and fresh listing" or does the previous 5 months on the market still show up to prospective buyers?
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Old 05-16-2010, 08:16 AM
 
Location: Lake Wylie, SC
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Any good realtor will be able to identify the actual time on market with one click of the DOM portion of the listing in CMLS. Takes about 2 seconds. If the house is listed on the York CMLS it takes about a minute.
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Old 05-16-2010, 08:29 AM
 
Location: Murrells Inlet
194 posts, read 711,932 times
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Quote:
Originally Posted by naeem5 View Post
Supposedly if a house is on the market too long it can create "why has it not sold" in the eyes of some.

Is that a "new and fresh listing" or does the previous 5 months on the market still show up to prospective buyers?
There are many listings that have extended marketing time and reasons 'why' they are not selling. Price, condition, location, competing properties, new construction, amenities, ect...
Buyers move in and out of the market all the time.... as do properties ....so 'fresh' to a new buyer in the market could be a listing that has been listed for a while or a 'just listed' property.
Depending on the area MLS data for expired or withdrawn listings would be available to a buyers agent. In addition there are expired or withdrawn listings that continue to show up on home search sites that still show as active in some instances.
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Old 05-16-2010, 06:35 PM
 
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We have sold two houses in a tough market. One was a rental house in Rock Hill in the Winthrop University neighborhood. We had to re-do the house when the tenant moved out ... painted, new carpet, new kitchen floor, new bathroom, even new electrical outlet covers and light switch covers, mailbox everything ... it was on the market over a year.

We tried to make it as attractive as we could due to it's age. As creekgirl said price, condition, location, competing properties, new construction, amenities, etc all contribute and play a big part in the house selling. We reduced the price and when the right buyer came along he made an offer we accepted it and rejoiced. The second realtor we signed a contract with sold it in less than 6 weeks after the listing.

The other house was at the beach for our use only never rented it out. It was on the market over a year ... we gave up and didn't renew the contract with the real estate company. A neighbor from New Jersey called us and had a friend in NJ interested in a home at Myrtle Beach ... another neighbor had a key to our house so we asked her to let the people see our house. They bought it.
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Old 05-17-2010, 03:42 PM
 
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my agent says a house can become a "why has it not sold" after about 6-9 months.
My problem is I am hopeful of getting a certain amount for it, or I might just live there and abandon other projects. So, my price is high and will come down slowly.
I'm not in a hurry to sell because I hope for a certain sale price. I looked at some older homes last year and saw one that had been listed for 256 days.
I may not be able to get my price in 6-9 months. The market may change and I may need to "de-list" it and come back later in future months and try again. Don't want the house to have a "bad tag" on it.
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Old 05-18-2010, 02:48 AM
 
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Why don't you live in it? If it's paid for that's a plus for you. You said you were disable and you will receive a Homestead Exemption on the York County Property Taxes. Just hang on to it with hopes the market will turn around.
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Old 05-18-2010, 07:46 AM
 
704 posts, read 1,959,825 times
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Originally Posted by CarolinaWoman View Post
Why don't you live in it? If it's paid for that's a plus for you. You said you were disable and you will receive a Homestead Exemption on the York County Property Taxes. Just hang on to it with hopes the market will turn around.
The taxes will be around 1000 a year, add in the grass cutters and insurance and water (I've never had a water bill before) the total is about 33% of my income. My plan was to sell the house and divide the proceeds into 3 pieces, one for a more modest home, one to increase my income and one other.

It'd be misery in that big house on poverty income.

I follow business-investment news for 8 hours a day and some are saying a 2nd wave "down" in the housing market is on the way.
Hoping to sell before that.

I'm currently paying monthly expenses at two locations, while I look for a more modest place in Rock Hill.
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