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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
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what is the avg. length of time a house sits on the market?
in your opinion...
Message edited 4/18/2006 3:25:29 PM.
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Posted 4/18/06 3:25 PM  |
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Prudential Douglas Elliman Real Estate
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lorich
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Member since 6/05 9987 total posts
Name:
Grammie says "Lora Gina"
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Re: what is the avg. length of time a house sits on the market?
I keep reading 8 mths is the average...
(I don't have an opinion )
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| Posted 4/18/06 3:27 PM |
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lululu
LIF Adult
Member since 7/05 9511 total posts
Name:
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Re: what is the avg. length of time a house sits on the market?
There was an article in Newsday that said the average time on LI this year was 82 days but that seems a little high if you ask me.
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| Posted 4/18/06 3:27 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: what is the avg. length of time a house sits on the market?
it depends on the area- and how the house is priced
there are houses in my area that have been on the market for a year- shocking they are asking $1M or more
but well priced ones move quick
peoples attitudes have changed in the last year
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| Posted 4/18/06 3:31 PM |
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: what is the avg. length of time a house sits on the market?
our realtor told us 3 months is average. I thought she was BSing us 
there is a house for sale that needs at LEAST $60-$70K worth of work and it's been sitting on the market for a little over 3 months. it had 1 offer which fell through. it's listed at $389K and I told her that I wouldn't pay more than $300K since it is in horrible horrible shape!! she said "no way, you can't do that".
does anyone have any thoughts about this situation? 
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| Posted 4/18/06 3:32 PM |
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MrsERod
Praying for Everyone.
Member since 5/05 26170 total posts
Name:
MrsERod™®
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Re: what is the avg. length of time a house sits on the market?
Posted by Beth1210
it depends on the area- and how the house is priced
there are houses in my area that have been on the market for a year- shocking they are asking $1M or more
but well priced ones move quick
peoples attitudes have changed in the last year
completely agree!! i've seen overpriced houses sit for MONTHS, and approach the 1 year mark!!  
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| Posted 4/18/06 3:33 PM |
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lorich
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Member since 6/05 9987 total posts
Name:
Grammie says "Lora Gina"
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Re: what is the avg. length of time a house sits on the market?
Posted by SweetestOfPeas
our realtor told us 3 months is average. I thought she was BSing us
there is a house for sale that needs at LEAST $60-$70K worth of work and it's been sitting on the market for a little over 3 months. it had 1 offer which fell through. it's listed at $389K and I told her that I wouldn't pay more than $300K since it is in horrible horrible shape!! she said "no way, you can't do that".
does anyone have any thoughts about this situation?
Sounds like a money pit.... Is this the one you put an offer on?
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| Posted 4/18/06 3:35 PM |
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MrsERod
Praying for Everyone.
Member since 5/05 26170 total posts
Name:
MrsERod™®
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Re: what is the avg. length of time a house sits on the market?
Posted by SweetestOfPeas
our realtor told us 3 months is average. I thought she was BSing us
there is a house for sale that needs at LEAST $60-$70K worth of work and it's been sitting on the market for a little over 3 months. it had 1 offer which fell through. it's listed at $389K and I told her that I wouldn't pay more than $300K since it is in horrible horrible shape!! she said "no way, you can't do that".
does anyone have any thoughts about this situation?
you CAN. however, if you REALLY want the house, you may reconsider the offer, and go a little higher. some sellers become insulted with really low offers, and just flat out reject an offer, rather then presenting a counter-offer.
eta: when you say HORRIBLE shape, what do you mean? does it need new roof, siding, burner, etc??
Message edited 4/18/2006 3:37:23 PM.
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| Posted 4/18/06 3:36 PM |
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schnapy
LIF Adolescent
Member since 9/05 766 total posts
Name:
Diana
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Re: what is the avg. length of time a house sits on the market?
Posted by SweetestOfPeas
our realtor told us 3 months is average. I thought she was BSing us
there is a house for sale that needs at LEAST $60-$70K worth of work and it's been sitting on the market for a little over 3 months. it had 1 offer which fell through. it's listed at $389K and I told her that I wouldn't pay more than $300K since it is in horrible horrible shape!! she said "no way, you can't do that".
does anyone have any thoughts about this situation?
You can do whatever you want, she has to present all offers...;
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| Posted 4/18/06 3:36 PM |
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MrsERod
Praying for Everyone.
Member since 5/05 26170 total posts
Name:
MrsERod™®
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Re: what is the avg. length of time a house sits on the market?
Posted by schnapy
You can do whatever you want, she has to present all offers...;
absolutely. legally, the realtor must present ALL offers.
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| Posted 4/18/06 3:38 PM |
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Tah-wee-ZAH
Kisses
Member since 5/05 15952 total posts
Name:
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Re: what is the avg. length of time a house sits on the market?
I just drove by two houses that I looked at in July of last year... colonials in East Northport that are still on the market. Both are over 600K and need at least 175K worth of work. One has livingroom walls that have a combo of bark and mirror on them... oh, and popcorn ceilings and a stucco hallway. I swear. DH and I were like... HUH, is that bark? How do you remove bark and mirror?
MrsErod, correct me if I'm wrong but isn't it mostly houses over 500K and 600K that have slowed down the most?
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| Posted 4/18/06 3:38 PM |
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MrsERod
Praying for Everyone.
Member since 5/05 26170 total posts
Name:
MrsERod™®
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Re: what is the avg. length of time a house sits on the market?
Posted by Tah-wee-ZAH
MrsErod, correct me if I'm wrong but isn't it mostly houses over 500K and 600K that have slowed down the most?
nope. everything has. for ex. i've personally seen a house in Dix Hills sit on the market for over 8 months..OVERPRICED..(originally asking $925k, needs at LEAST 100,000 worth of work...
and has now been lowered to $800K and STILL hasn't sold!!
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| Posted 4/18/06 3:41 PM |
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My2Boys
Love.
Member since 10/05 4796 total posts
Name:
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Re: what is the avg. length of time a house sits on the market?
Posted by MrsERod
Posted by schnapy
You can do whatever you want, she has to present all offers...;
absolutely. legally, the realtor must present ALL offers.
Exactly... but as was mentioned, the sellers have no obligation to respond.
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| Posted 4/18/06 3:43 PM |
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Tah-wee-ZAH
Kisses
Member since 5/05 15952 total posts
Name:
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Re: what is the avg. length of time a house sits on the market?
Posted by MrsERod
Posted by Tah-wee-ZAH
MrsErod, correct me if I'm wrong but isn't it mostly houses over 500K and 600K that have slowed down the most?
nope. everything has. for ex. i've personally seen a house in Dix Hills sit on the market for over 8 months..OVERPRICED..(originally asking $925k, needs at LEAST 100,000 worth of work...
and has now been lowered to $800K and STILL hasn't sold!!
So glad we sold last August. Even though we also bought we got our house for way over six figures less than the appraisal for the area Of course, we had to put A LOT into it but we bought still way under even present day comps. We got really lucky I guess I got the most I could have hoped for for my sale.
Are any houses going for full asking price anymore?
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| Posted 4/18/06 3:45 PM |
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: what is the avg. length of time a house sits on the market?
Posted by lorich
Posted by SweetestOfPeas
our realtor told us 3 months is average. I thought she was BSing us
there is a house for sale that needs at LEAST $60-$70K worth of work and it's been sitting on the market for a little over 3 months. it had 1 offer which fell through. it's listed at $389K and I told her that I wouldn't pay more than $300K since it is in horrible horrible shape!! she said "no way, you can't do that".
does anyone have any thoughts about this situation?
Sounds like a money pit.... Is this the one you put an offer on?
no, we didn't put an offer on this one.
and yes, it is a money pit! 
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| Posted 4/18/06 3:47 PM |
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schnapy
LIF Adolescent
Member since 9/05 766 total posts
Name:
Diana
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Re: what is the avg. length of time a house sits on the market?
Yes but the realtor cant say absolutely not without presenting the offer
You can drop a note in the mailbox if you want tyo the owner saying you would likme to make an offer of 300K
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| Posted 4/18/06 3:48 PM |
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MrsERod
Praying for Everyone.
Member since 5/05 26170 total posts
Name:
MrsERod™®
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Re: what is the avg. length of time a house sits on the market?
Posted by Tah-wee-ZAH
So glad we sold last August. Even though we also bought we got our house for way over six figures less than the appraisal for the area Of course, we had to put A LOT into it but we bought still way under even present day comps. We got really lucky I guess I got the most I could have hoped for for my sale.
you did good!!!!! 
Posted by Tah-wee-ZAH
Are any houses going for full asking price anymore?
yep, when they're priced RIGHT!!  they sell for asking price
OR
they sell VERY close to asking.
for ex. i just sold a house in Lk Ronk. asking $ was $399k, sold for $395k!
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| Posted 4/18/06 3:49 PM |
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: what is the avg. length of time a house sits on the market?
Posted by MrsERod
Posted by SweetestOfPeas
our realtor told us 3 months is average. I thought she was BSing us
there is a house for sale that needs at LEAST $60-$70K worth of work and it's been sitting on the market for a little over 3 months. it had 1 offer which fell through. it's listed at $389K and I told her that I wouldn't pay more than $300K since it is in horrible horrible shape!! she said "no way, you can't do that".
does anyone have any thoughts about this situation?
you CAN. however, if you REALLY want the house, you may reconsider the offer, and go a little higher. some sellers become insulted with really low offers, and just flat out reject an offer, rather then presenting a counter-offer.
eta: when you say HORRIBLE shape, what do you mean? does it need new roof, siding, burner, etc??
it needs a new roof, new siding, a new kitchen, all new flooring, a new CAC unit and the whole yard needs to be excavated and God only knows what else.
I don't love the house but it's in a nice area and I do like the layout.
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| Posted 4/18/06 3:49 PM |
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MrsERod
Praying for Everyone.
Member since 5/05 26170 total posts
Name:
MrsERod™®
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Re: what is the avg. length of time a house sits on the market?
Posted by schnapy
Yes but the realtor cant say absolutely not without presenting the offer
You can drop a note in the mailbox if you want tyo the owner saying you would likme to make an offer of 300K
you can also request that YOUR realtor present the offer in PERSON to the seller. (which legally, the listing agent MUST arrange, and also be present for)
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| Posted 4/18/06 3:51 PM |
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: what is the avg. length of time a house sits on the market?
Posted by schnapy
Yes but the realtor cant say absolutely not without presenting the offer
You can drop a note in the mailbox if you want tyo the owner saying you would likme to make an offer of 300K
that's another thing... the owners already vacated - since January. and left a lot of their crap behind too
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| Posted 4/18/06 3:51 PM |
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schnapy
LIF Adolescent
Member since 9/05 766 total posts
Name:
Diana
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Re: what is the avg. length of time a house sits on the market?
hmm, well tell the agent that you want that offer presented.... Call the agents broker if she doesnt.
ARe they still gettting mail there?? Can you drive by and check
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| Posted 4/18/06 3:52 PM |
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: what is the avg. length of time a house sits on the market?
Posted by schnapy
hmm, well tell the agent that you want that offer presented.... Call the agents broker if she doesnt.
ARe they still gettting mail there?? Can you drive by and check
I am very torn about the whole thing. my DH would go along with putting in a bid, but I don't know if I have the energy or desire to go through all that work 
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| Posted 4/18/06 3:53 PM |
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schnapy
LIF Adolescent
Member since 9/05 766 total posts
Name:
Diana
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Re: what is the avg. length of time a house sits on the market?
well that I hear, we bought a handy piece of crap and its been a year and we only put a dent in it
Its a lot of work
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| Posted 4/18/06 3:59 PM |
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: what is the avg. length of time a house sits on the market?
Posted by schnapy
well that I hear, we bought a handy piece of crap and its been a year and we only put a dent in it
Its a lot of work
I would not even consider moving into this house until it was done. it's a MESS!!! totally freaks me out. not to mention the smell of gas throughout!
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| Posted 4/18/06 4:00 PM |
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schnapy
LIF Adolescent
Member since 9/05 766 total posts
Name:
Diana
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Re: what is the avg. length of time a house sits on the market?
we lived in our apt for a couple of month till all the major crap was done.
But we have a ways to go
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| Posted 4/18/06 4:02 PM |
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