Anonymous
10/15/2015 23:36
Subject: Question for Realtors/Seller who yanked a house to wait for Spring
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.
Anonymous
10/15/2015 23:29
Subject: Question for Realtors/Seller who yanked a house to wait for Spring
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Husband and I are in a position where the sale of our current home is not contingent on our future home. We are in a sought after neighborhood and priced well. Our house should sell quickly. But the market seems slow and if we don't sell for the right price by mid November, we will yank the house and wait for the spring market where we can get as much, if not more than, we are asking now.
So, for those who have done that - or have had your clients do that - did it work out for them?
Financially we are fine and may even be better off waiting till Spring, though it is a risk. We also have the bonus of friends who are interested in our home as a short term rental (4-5 month) should we not sell right away.
You'll still have to leave were price. Your house isn't selling because of price, plenty still going under contract now.
Lower price.
My house has barely been on the market. But I know, as the realtor mentioned, that the market will come to a halt very soon. I want to be prepared.
The answer isn't always lower the price if you aren't desperate to sell. You can be priced right and there aren't the right buyers out there looking. There is such a thing as bad timing.
This is what people who price too high tell themselves. It's still a very active market. Different story in a legitimate buyer's market, but that isn't now.
Omg-you are nuts. My house has been on the market 2 days with showings and more scheduled. It is not priced too high. It is certainly not stale. I am just planning ahead. And while so neighborhoods may be active the market is slowing down.
Second realtor - thank you for the response. We are under contractvon another house. Mortgage payments on current house are very small and a significant chunk of principal is paid down each month. We could carry the house for 6 months for less than $10k, not including the principal paid down.
Anonymous
10/15/2015 23:11
Subject: Question for Realtors/Seller who yanked a house to wait for Spring
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Husband and I are in a position where the sale of our current home is not contingent on our future home. We are in a sought after neighborhood and priced well. Our house should sell quickly. But the market seems slow and if we don't sell for the right price by mid November, we will yank the house and wait for the spring market where we can get as much, if not more than, we are asking now.
So, for those who have done that - or have had your clients do that - did it work out for them?
Financially we are fine and may even be better off waiting till Spring, though it is a risk. We also have the bonus of friends who are interested in our home as a short term rental (4-5 month) should we not sell right away.
You'll still have to leave were price. Your house isn't selling because of price, plenty still going under contract now.
Lower price.
My house has barely been on the market. But I know, as the realtor mentioned, that the market will come to a halt very soon. I want to be prepared.
The answer isn't always lower the price if you aren't desperate to sell. You can be priced right and there aren't the right buyers out there looking. There is such a thing as bad timing.
+1. we are in a sought after neighborhood and one home (priced high IMO) has been sitting on the market for weeks and has already had a price reduction. no takers. a home (less expensive) went for sale last Friday and was under contract by Monday. another home in the same price range as the first one, just one block away, went under contract in less than two weeks. the first one is still sitting. your home has been on the market for a short time so it may be too early, but if other homes around you are selling quickly and yours is not, it is priced to high for the house you have. you can't be certain you will sell for more in the spring.
This is what people who price too high tell themselves. It's still a very active market. Different story in a legitimate buyer's market, but that isn't now.
REALTOR4U
10/15/2015 21:49
Subject: Question for Realtors/Seller who yanked a house to wait for Spring
Hi-
You stated "Husband and I are in a position where the sale of our current home is not contingent on our future home." Are you currently under contract for your new home? Depending upon your answer, my answer would differ slightly.
If you are under contract, I would be concerned about how many mortgage payments you would be making on a vacant home and if this would outweigh any potential benefit of waiting for the Spring market. While there are more buyers in the Spring, there will also be more sellers. I'm not concerned about potential rise in interest rates. An increase in Fed rates would only have an indirect effect on fixed mortgage rates as they are tied to the ten year bond.
If you are staying put, feel free to roll the dice. While the market does slow, there are homes listed and sold throughout the winter months. As of today, we only have about a 3.5 months of inventory in MoCo.
You are right, price is only on aspect in selling your home and would should be aware of the recent comparable sales. Focus on more recent sales, not those stemming from the Spring market sales. You also need to look at your home with a buyers eye. Perhaps there is something else turning off potential buyers. Review the feedback with an open mind.
Best of luck!
You stated "Husband and I are in a position where the sale of our current home is not contingent on our future home." Are you currently under contract for your new home? Depending upon your answer, my answer would differ slightly.
If you are under contract, I would be concerned about how many mortgage payments you would be making on a vacant home and if this would outweigh any potential benefit of waiting for the Spring market. While there are more buyers in the Spring, there will also be more sellers. I'm not concerned about potential rise in interest rates. An increase in Fed rates would only have an indirect effect on fixed mortgage rates as they are tied to the ten year bond.
If you are staying put, feel free to roll the dice. While the market does slow, there are homes listed and sold throughout the winter months. As of today, we only have about a 3.5 months of inventory in MoCo.
You are right, price is only on aspect in selling your home and would should be aware of the recent comparable sales. Focus on more recent sales, not those stemming from the Spring market sales. You also need to look at your home with a buyers eye. Perhaps there is something else turning off potential buyers. Review the feedback with an open mind.
Best of luck!
Anonymous
10/15/2015 21:37
Subject: Question for Realtors/Seller who yanked a house to wait for Spring
Buyers will know that your listing is stale. Lower your price and sell it. Forget the old realtor games, that era is long past.
Anonymous
10/15/2015 21:20
Subject: Question for Realtors/Seller who yanked a house to wait for Spring
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Husband and I are in a position where the sale of our current home is not contingent on our future home. We are in a sought after neighborhood and priced well. Our house should sell quickly. But the market seems slow and if we don't sell for the right price by mid November, we will yank the house and wait for the spring market where we can get as much, if not more than, we are asking now.
So, for those who have done that - or have had your clients do that - did it work out for them?
Financially we are fine and may even be better off waiting till Spring, though it is a risk. We also have the bonus of friends who are interested in our home as a short term rental (4-5 month) should we not sell right away.
You'll still have to leave were price. Your house isn't selling because of price, plenty still going under contract now.
Lower price.
My house has barely been on the market. But I know, as the realtor mentioned, that the market will come to a halt very soon. I want to be prepared.
The answer isn't always lower the price if you aren't desperate to sell. You can be priced right and there aren't the right buyers out there looking. There is such a thing as bad timing.
Realtor again. I 100% agree with this. I have a listing now that proves that. All the comps are there, just no showings, no buyers. It's slowing down already.
No harm taking it off but buyers will view it as an old listing and price offers accordingly. You can't hide days on from Zillow.
Anonymous
10/15/2015 21:03
Subject: Question for Realtors/Seller who yanked a house to wait for Spring
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Husband and I are in a position where the sale of our current home is not contingent on our future home. We are in a sought after neighborhood and priced well. Our house should sell quickly. But the market seems slow and if we don't sell for the right price by mid November, we will yank the house and wait for the spring market where we can get as much, if not more than, we are asking now.
So, for those who have done that - or have had your clients do that - did it work out for them?
Financially we are fine and may even be better off waiting till Spring, though it is a risk. We also have the bonus of friends who are interested in our home as a short term rental (4-5 month) should we not sell right away.
You'll still have to leave were price. Your house isn't selling because of price, plenty still going under contract now.
Lower price.
My house has barely been on the market. But I know, as the realtor mentioned, that the market will come to a halt very soon. I want to be prepared.
The answer isn't always lower the price if you aren't desperate to sell. You can be priced right and there aren't the right buyers out there looking. There is such a thing as bad timing.
Realtor again. I 100% agree with this. I have a listing now that proves that. All the comps are there, just no showings, no buyers. It's slowing down already.
Anonymous
10/15/2015 21:03
Subject: Question for Realtors/Seller who yanked a house to wait for Spring
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Husband and I are in a position where the sale of our current home is not contingent on our future home. We are in a sought after neighborhood and priced well. Our house should sell quickly. But the market seems slow and if we don't sell for the right price by mid November, we will yank the house and wait for the spring market where we can get as much, if not more than, we are asking now.
So, for those who have done that - or have had your clients do that - did it work out for them?
Financially we are fine and may even be better off waiting till Spring, though it is a risk. We also have the bonus of friends who are interested in our home as a short term rental (4-5 month) should we not sell right away.
You'll still have to leave were price. Your house isn't selling because of price, plenty still going under contract now.
Lower price.
My house has barely been on the market. But I know, as the realtor mentioned, that the market will come to a halt very soon. I want to be prepared.
The answer isn't always lower the price if you aren't desperate to sell. You can be priced right and there aren't the right buyers out there looking. There is such a thing as bad timing.
This is what people who price too high tell themselves. It's still a very active market. Different story in a legitimate buyer's market, but that isn't now.
Anonymous
10/15/2015 20:53
Subject: Question for Realtors/Seller who yanked a house to wait for Spring
Anonymous wrote:Anonymous wrote:Anonymous wrote:Husband and I are in a position where the sale of our current home is not contingent on our future home. We are in a sought after neighborhood and priced well. Our house should sell quickly. But the market seems slow and if we don't sell for the right price by mid November, we will yank the house and wait for the spring market where we can get as much, if not more than, we are asking now.
So, for those who have done that - or have had your clients do that - did it work out for them?
Financially we are fine and may even be better off waiting till Spring, though it is a risk. We also have the bonus of friends who are interested in our home as a short term rental (4-5 month) should we not sell right away.
You'll still have to leave were price. Your house isn't selling because of price, plenty still going under contract now.
Lower price.
My house has barely been on the market. But I know, as the realtor mentioned, that the market will come to a halt very soon. I want to be prepared.
The answer isn't always lower the price if you aren't desperate to sell. You can be priced right and there aren't the right buyers out there looking. There is such a thing as bad timing.
Anonymous
10/15/2015 20:41
Subject: Question for Realtors/Seller who yanked a house to wait for Spring
Anonymous wrote:Anonymous wrote:Husband and I are in a position where the sale of our current home is not contingent on our future home. We are in a sought after neighborhood and priced well. Our house should sell quickly. But the market seems slow and if we don't sell for the right price by mid November, we will yank the house and wait for the spring market where we can get as much, if not more than, we are asking now.
So, for those who have done that - or have had your clients do that - did it work out for them?
Financially we are fine and may even be better off waiting till Spring, though it is a risk. We also have the bonus of friends who are interested in our home as a short term rental (4-5 month) should we not sell right away.
You'll still have to leave were price. Your house isn't selling because of price, plenty still going under contract now.
Lower price.
Anonymous
10/15/2015 20:41
Subject: Question for Realtors/Seller who yanked a house to wait for Spring
Anonymous wrote:Husband and I are in a position where the sale of our current home is not contingent on our future home. We are in a sought after neighborhood and priced well. Our house should sell quickly. But the market seems slow and if we don't sell for the right price by mid November, we will yank the house and wait for the spring market where we can get as much, if not more than, we are asking now.
So, for those who have done that - or have had your clients do that - did it work out for them?
Financially we are fine and may even be better off waiting till Spring, though it is a risk. We also have the bonus of friends who are interested in our home as a short term rental (4-5 month) should we not sell right away.
You'll still have to leave were price. Your house isn't selling because of price, plenty still going under contract now.
Anonymous
10/15/2015 20:34
Subject: Re:Question for Realtors/Seller who yanked a house to wait for Spring
Realtor here.
I'd do it. Why not? More traffic in spring. The only potential downside I see is that rates are supposed to start ticking upward in December. We'll see though - that's not a guarantee. But I can pretty much guarantee that the market halts in about 4 weeks. So if you're not under contract soon, you probably won't be until spring. Pull now and relist after Jan 15, Days on Market resets at 90 days off-market.
I'd do it. Why not? More traffic in spring. The only potential downside I see is that rates are supposed to start ticking upward in December. We'll see though - that's not a guarantee. But I can pretty much guarantee that the market halts in about 4 weeks. So if you're not under contract soon, you probably won't be until spring. Pull now and relist after Jan 15, Days on Market resets at 90 days off-market.
Anonymous
10/15/2015 17:08
Subject: Question for Realtors/Seller who yanked a house to wait for Spring
We are thinking of doing the same thing. The homes in our price range in our neighborhood had sat and I do not see things changing until after the New Year.
Anonymous
10/15/2015 16:34
Subject: Question for Realtors/Seller who yanked a house to wait for Spring
I guess you're better off if you can sell the house for what you'd list now + four months of mortgage payments and utilities.
Anonymous
10/15/2015 16:31
Subject: Question for Realtors/Seller who yanked a house to wait for Spring
Husband and I are in a position where the sale of our current home is not contingent on our future home. We are in a sought after neighborhood and priced well. Our house should sell quickly. But the market seems slow and if we don't sell for the right price by mid November, we will yank the house and wait for the spring market where we can get as much, if not more than, we are asking now.
So, for those who have done that - or have had your clients do that - did it work out for them?
Financially we are fine and may even be better off waiting till Spring, though it is a risk. We also have the bonus of friends who are interested in our home as a short term rental (4-5 month) should we not sell right away.
So, for those who have done that - or have had your clients do that - did it work out for them?
Financially we are fine and may even be better off waiting till Spring, though it is a risk. We also have the bonus of friends who are interested in our home as a short term rental (4-5 month) should we not sell right away.