Anonymous wrote:If you are just 'testing' the market and maybe will sell, maybe not (drives realtors nuts!), you list it high and just hold out. Pretty soon every realtor knows you're not serious.

weird
Never heard of 'testing' the market. But I can see how realtors can be angry with sellers.

Anonymous wrote:It also depends immensely on your current mortgage. If you own outright, then it doesn't cost you much to stay on the market. If you owe a LOT, and your house isn't worth a lot, then it can make a big difference. You also have to factor in condo dues, property taxes, etc. into the equation.

This is a common error. The fair market value of your house has nothing to do with what you owe on it. The price is set by the market and supply and demand. If your house is priced fairly, then you should have an offer within 100 DOM. If your house is not, regardless of what you owe on it, you will not get an offer and you will see the number of showings peak early and then drop off. The more showings, the more likely you are close to the right ballpark. If you have no viewings after a short initial period of time, then you are not priced in the right ballpark.

It also depends immensely on your current mortgage. If you own outright, then it doesn't cost you much to stay on the market. If you owe a LOT, and your house isn't worth a lot, then it can make a big difference. You also have to factor in condo dues, property taxes, etc. into the equation.

If you want to actually sell the house you (A) list it high and every 3-4 weeks drop the price, or (B) you list it around fair value and hope to get a little bidding up.

If you are just 'testing' the market and maybe will sell, maybe not (drives realtors nuts!), you list it high and just hold out. Pretty soon every realtor knows you're not serious. Then do the same next year. And hope the market doesn't move away from you. Oh, and keep your house spic & span due to those viewings...