Question for Realtors/Seller who yanked a house to wait for Spring

[Anonymous]

Anonymous wrote:Op here - sorry for the typos - on my phone. I want to emphasize that it was emphasized to me that the DC metro market is slowing down by friends (multiple) who are realtors. That is why I am asking. One friend (not my realtor) said my house would easily fetch $10k more than asking in the spring. So I want to be prepared to yank it rather than accept a low ball offer if it does not sell during this short active window.

Bird in the hand is worth two in the bush. Don't be greedy, if house is vacant sell now. If you two years vacant, you lose capital gains exemption. And you should be paying higher vacant house insurance.

If you sell now, great you priced if not then Zillow will show it to all buyers.

[Anonymous]

The house isn't vacant. What are you talking about?

[Anonymous]

Anonymous wrote:Op here - sorry for the typos - on my phone. I want to emphasize that it was emphasized to me that the DC metro market is slowing down by friends (multiple) who are realtors. That is why I am asking. One friend (not my realtor) said my house would easily fetch $10k more than asking in the spring. So I want to be prepared to yank it rather than accept a low ball offer if it does not sell during this short active window.

But your $10k more in the spring is offset by the $10k you said you'd spend on mortgage payments.

[Anonymous]

You'd have to be certain that you're able to sell for ~$10k more in the Spring, AND that it offsets whatever your regular payments are between now and then. It's a pretty risk gamble, but I'd stay in the market for now. Things have slowed down since the peak, but there are still buyers out there.

[Anonymous]

Anonymous wrote:Op here - sorry for the typos - on my phone. I want to emphasize that it was emphasized to me that the DC metro market is slowing down by friends (multiple) who are realtors. That is why I am asking. One friend (not my realtor) said my house would easily fetch $10k more than asking in the spring. So I want to be prepared to yank it rather than accept a low ball offer if it does not sell during this short active window.

You do realize this person has no idea what your house will sell for in the spring, right? Unless they have a crystal ball?

And on the flip side of that whatever you buy in the spring will be more expensive too (if the prediction is correct), it's pretty much a wash.

[Anonymous]

OP here - my concern isn't netting in the spring what I would net with a full offer today.

I am asking, based on those with experience, whether it is better, should I not sell quickly, to yank my house in 4 weeks rather than let the listing sit and induce only low ball offers from people who view me as desperate to sell because it is winter.

As an example, say my house is listed at 700K now. In the Spring, I could probably get 710K. But if the house sits through the winter, I may end up with people low balling me at 670-680K. And at that point I have missed the chance to yank the listing and make it fresh for the Spring. (Yes, I know Zillow shows that I listed it in the Fall - I am not concerned about that).

As an aside, for those hung up on price, we are priced below a recent appraisal, are the lowest price house in our neighborhood right now and are priced comparable to or better than comps. We had 4 realtors give us a price and they (shockingly) all came in a almost the exact same price and we listed $5K below that. But nothing in my direct area that has been listed in the last 2 weeks has gone under contract.

[Anonymous]

Anonymous wrote:You'd have to be certain that you're able to sell for ~$10k more in the Spring, AND that it offsets whatever your regular payments are between now and then. It's a pretty risk gamble, but I'd stay in the market for now. Things have slowed down since the peak, but there are still buyers out there.

OP said that they're at the point in their mortgage where most of their payments are going to principal so that's not really true. OP would only have to offset gains by only that portion of the mortgage that is covering interest, taxes and insurance.

[Anonymous]

I know you don't want to hear this, but because you have it listed now, it will NOT be fresh in the spring. As a buyer, it wouldn't matter to me if you had it on the market during the winter or not. In both cases, I would assume you would be slightly more desperate because I'd see that you originally tried to sell it 6 months prior.

So to answer your question, I would leave it on now and try to work with whatever offer(s) you get.

[Anonymous]

Anonymous wrote:The house isn't vacant. What are you talking about?

OP is under contract on their new house. Presuming they move into their new house, their old house will be vacant. Or a rental. Both which make it slightly harder to sell/insure.

Also, it's cute the OP doesn't care that Zillow shows the stale listing, it's so nostalgic!

[Anonymous]

Anonymous wrote:I know you don't want to hear this, but because you have it listed now, it will NOT be fresh in the spring. As a buyer, it wouldn't matter to me if you had it on the market during the winter or not. In both cases, I would assume you would be slightly more desperate because I'd see that you originally tried to sell it 6 months prior.

So to answer your question, I would leave it on now and try to work with whatever offer(s) you get.

Honestly delisting and relisting shows seller is even more desperate, rather than just listing and being patient and confident that a buyer will come and not fidgeting abut it.

[Anonymous]

Anonymous wrote:Op here - sorry for the typos - on my phone. I want to emphasize that it was emphasized to me that the DC metro market is slowing down by friends (multiple) who are realtors. That is why I am asking. One friend (not my realtor) said my house would easily fetch $10k more than asking in the spring. So I want to be prepared to yank it rather than accept a low ball offer if it does not sell during this short active window.

Pricing is an art, not a science. It doesn't matter what your realtor friend or any friends think. The market makes its own judgment. Your friend is wrong, you won't get $10,000 more in the spring than the price you have not (yet) gotten this fall -- that isn't how things work.

If it is more convenient for you, take it off around the holidays. But all buyers will care about is total days on market, info that is easily accessible these days regardless of whether you remove the listing for a period.

[Anonymous]

Anonymous wrote:

Anonymous wrote:The house isn't vacant. What are you talking about?

OP is under contract on their new house. Presuming they move into their new house, their old house will be vacant. Or a rental. Both which make it slightly harder to sell/insure.

Also, it's cute the OP doesn't care that Zillow shows the stale listing, it's so nostalgic!

I am the OP and I didn't say I didn't care - I said I am not too worried. I have seen Zillow listing where houses are delisted and related. I do not presume to know why the house was delisted and relisted, especially if a chunk of time has gone by. In fact, the house I purchased was delisted and relisted. It went in 5 days with 4 offers this time around. Price is the same and house is now vacant. Seller apparently had a long distance move and decided to delist and get the move over with and relist after. I only know that after the fact, as the buyer.

Again, I realize there are pros and cons. I realize that there is a chance I will not get as much in the Spring (and I will not actually try to raise my price in the Spring). I am just wondering if people have done this and if it was better than letting the house sit over the winter. Considering the house has been on for only 3 days, this may never come to pass. I am a planner and it comforts me to think ahead. Some of you are reading way too much into this.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The house isn't vacant. What are you talking about?

OP is under contract on their new house. Presuming they move into their new house, their old house will be vacant. Or a rental. Both which make it slightly harder to sell/insure.

Also, it's cute the OP doesn't care that Zillow shows the stale listing, it's so nostalgic!

I am the OP and I didn't say I didn't care - I said I am not too worried. I have seen Zillow listing where houses are delisted and related. I do not presume to know why the house was delisted and relisted, especially if a chunk of time has gone by. In fact, the house I purchased was delisted and relisted. It went in 5 days with 4 offers this time around. Price is the same and house is now vacant. Seller apparently had a long distance move and decided to delist and get the move over with and relist after. I only know that after the fact, as the buyer.

Again, I realize there are pros and cons. I realize that there is a chance I will not get as much in the Spring (and I will not actually try to raise my price in the Spring). I am just wondering if people have done this and if it was better than letting the house sit over the winter. Considering the house has been on for only 3 days, this may never come to pass. I am a planner and it comforts me to think ahead. Some of you are reading way too much into this.

We're reading to much into this? You've only been on the market for 3 days!

It's the height of rudeness that you are now considering pulling your house off the market after 3 days -- talk about wasting the time and money of an agent.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The house isn't vacant. What are you talking about?

OP is under contract on their new house. Presuming they move into their new house, their old house will be vacant. Or a rental. Both which make it slightly harder to sell/insure.

Also, it's cute the OP doesn't care that Zillow shows the stale listing, it's so nostalgic!

I am the OP and I didn't say I didn't care - I said I am not too worried. I have seen Zillow listing where houses are delisted and related. I do not presume to know why the house was delisted and relisted, especially if a chunk of time has gone by. In fact, the house I purchased was delisted and relisted. It went in 5 days with 4 offers this time around. Price is the same and house is now vacant. Seller apparently had a long distance move and decided to delist and get the move over with and relist after. I only know that after the fact, as the buyer.

Again, I realize there are pros and cons. I realize that there is a chance I will not get as much in the Spring (and I will not actually try to raise my price in the Spring). I am just wondering if people have done this and if it was better than letting the house sit over the winter. Considering the house has been on for only 3 days, this may never come to pass. I am a planner and it comforts me to think ahead. Some of you are reading way too much into this.

We're reading to much into this? You've only been on the market for 3 days!

It's the height of rudeness that you are now considering pulling your house off the market after 3 days -- talk about wasting the time and money of an agent.

Well they listed in October, so I'm sure agent knew they didn't have their act together.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The house isn't vacant. What are you talking about?

OP is under contract on their new house. Presuming they move into their new house, their old house will be vacant. Or a rental. Both which make it slightly harder to sell/insure.

Also, it's cute the OP doesn't care that Zillow shows the stale listing, it's so nostalgic!

I am the OP and I didn't say I didn't care - I said I am not too worried. I have seen Zillow listing where houses are delisted and related. I do not presume to know why the house was delisted and relisted, especially if a chunk of time has gone by. In fact, the house I purchased was delisted and relisted. It went in 5 days with 4 offers this time around. Price is the same and house is now vacant. Seller apparently had a long distance move and decided to delist and get the move over with and relist after. I only know that after the fact, as the buyer.

Again, I realize there are pros and cons. I realize that there is a chance I will not get as much in the Spring (and I will not actually try to raise my price in the Spring). I am just wondering if people have done this and if it was better than letting the house sit over the winter. Considering the house has been on for only 3 days, this may never come to pass. I am a planner and it comforts me to think ahead. Some of you are reading way too much into this.

We're reading to much into this? You've only been on the market for 3 days!

It's the height of rudeness that you are now considering pulling your house off the market after 3 days -- talk about wasting the time and money of an agent.

Well they listed in October, so I'm sure agent knew they didn't have their act together.

Are you all reading my posts? I didnt say I was going to yank after 3 days. I said I was going to might yank in 4 weeks when the market comes to a halt. And how did I not have my act together with listing? Because my dream house came on the market during a time when we were looking? We listed 5 days after we went under contract on our new house.