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When is a home listed for sale considered "stale"
Thanks all who gave me feedback.
Message edited 8/17/2014 1:21:11 AM.
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Posted 8/15/14 2:40 PM  |
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Prudential Douglas Elliman Real Estate
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: When is a home listed for sale considered "stale"
How many showings have you had? are you still getting them?
any open houses? (not my favorite- but at least point I would do one)
I send emails and call for feedback- but I don't always get it- I also don't always give it unless you get me on the phone- I show 10-50 houses per week so it can be difficult some times
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| Posted 8/15/14 3:17 PM |
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Re: When is a home listed for sale considered "stale"
Message edited 8/17/2014 1:21:27 AM.
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| Posted 8/15/14 3:25 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: When is a home listed for sale considered "stale"
you can only put 20 pics on MLS- it's all it allows- you can get around that with a tour
you took your own pics?
Can you message me the address- I want to take a look
the buying season is not over- it slows down right before back to school- and then gets busy after school starts again
if she is showing the house- then she should have more feedback then that
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| Posted 8/15/14 3:38 PM |
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JandJ1224
Member since 6/06 5911 total posts
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Jannette
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Re: When is a home listed for sale considered "stale"
My first thought is the price. How did you comp it out, did you use homes in similar locations, affected by flood in past? What was the average DOM of those listings?
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| Posted 8/15/14 3:42 PM |
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FirstMate
My lil cowboy
Member since 10/10 7790 total posts
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Re: When is a home listed for sale considered "stale"
As someone who was just a buyer, I would say after 6 months the listing is sale.
I also just wanted to comment about the open houses. As someone who was recently a seller, I have to tell you that we had 4 or 5 offers on our house, all of which came from open houses. In my personal experience as a seller and as a buyer, people don't want to commit to appointments when everyone is so hectic with life. As a seller, even when people made appointments to come see my house, they would often cancel. I would get at least 4 showings during open houses. As a buyer, I would scour MLS, Newsday and any other source for open houses on the weekends so that DH and I could look at our leisure. That's how we found the house we are buying too.
While I get the whole privacy issue and it's so weird having people parade through your home when you aren't there, I do think open houses are really effective. My first realtor really poo-poo'd open houses and I didn't get a single offer through her. The realtor that sold my house did open houses probably every 6 weeks. I completely understand DH being weary but it may be worth a shot. Just thought I would share. Good luck! I know how frustrating it is.
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| Posted 8/15/14 3:45 PM |
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Re: When is a home listed for sale considered "stale"
Message edited 8/17/2014 1:21:42 AM.
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| Posted 8/15/14 3:48 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: When is a home listed for sale considered "stale"
open houses are much better now then when I first started in real estate 5 years ago
but the reality still is 96% of homes are sold thru private showings
I have had buyers see a house with an agent, then go to the open house and then make an offer
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| Posted 8/15/14 3:49 PM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: When is a home listed for sale considered "stale"
Posted by EclecticEsq10810
Unfortunately our realtor hasn't been very proactive with feedback and I am so tempted to find another realtor.
If you think your realtor sucks, FIRE THEM. Seriously don't be stuck in a listing if you aren't happy. Even if you have a listing agreement, email the broker and say you want out because of xxx, yyy, and zzz. If they refuse, report their license to the state. They will release you.
To answer your original question, i'd say 3+ moths would mean stale in this market. A nice price drop will take any stale listing and make it hot again.
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| Posted 8/15/14 8:08 PM |
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Re: When is a home listed for sale considered "stale"
Thanks everyone, all replies have been very helpful! I am going to talk to DH about dropping the price again..he was adamant about not dropping but it looks like we really have to if we want an offer soon. The house was listed at $25K above appraisal, so now we will have less wiggle room for negotiation if we get an offer for the actual appraisal price.
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| Posted 8/15/14 10:24 PM |
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LSP2005
Bunny kisses are so cute!
Member since 5/05 19458 total posts
Name:
L
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Re: When is a home listed for sale considered "stale"
No one would pay above an appraisal price because they would be unable to get a mortgage. I would price your home to sell, not a price where you would negotiate a lot. Most homes near me go for asking. We offered asking price on a home and hope to close next week.
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| Posted 8/16/14 11:39 PM |
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Re: When is a home listed for sale considered "stale"
What do you mean the "appraisal" price? Did you have an actual appraisal done prior to listing? Or do you mean the market analysis your listing agent did?
Sometimes I meet with sellers who tell me -- My house appraised for x amount 2 years ago when we refinanced. But you really have to look at comparable homes that have closed in the last 6 months (preferably last 3 months) to get a good idea of current value. And an appraisal for a refinance is a very different thing than an appraisal for a purchase mortgage.
I think if the feedback is that the house is too small, that translates into "the house is too small for the PRICE." You can't make the house bigger and you can't take it out of a flood zone, so I think the only way you can account for it and make it attractive for a seller is to drop the list price (painful as it may be). All houses sell, no matter how small, no matter where they are located, no matter what the condition -- they just need to be priced right (and 95% of the time, the issue with a house not selling is the price).
Good luck!
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| Posted 8/18/14 10:20 AM |
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Re: When is a home listed for sale considered "stale"
Posted by Century 21 Dallow - Christine Braun
What do you mean the "appraisal" price? Did you have an actual appraisal done prior to listing? Or do you mean the market analysis your listing agent did?....
We paid OOP for an appraisal prior to listing because when we talked to various realtors they gave us such a wide range of comps that DH said he couldnt deal with conflicting opinions so we paid for an independent appraiser to come and give us a number. It came back much much lower than we ever expected (almost 90K less than what DH paid for the home 10 years ago), so we opted to list at 25K higher than that at our current realtors suggestion. So far, our raltor hasn't said anything about lowering the price. The only thing we are going to work on (besides considering a price drop) is taking more current pictures because some of the feedback I've received indicates the pictures don't showcase the property features very well and we didn't use a professional photog).
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| Posted 8/18/14 11:29 AM |
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JSDB
<3
Member since 1/13 1329 total posts
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Re: When is a home listed for sale considered "stale"
if you PM me the MLS # I will give you my opinion, I believe we live in a similar area and bought recently so I can give you a buyers POV
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| Posted 8/18/14 4:03 PM |
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