For those who have sold OR are selling their home

For those of you who have sold recently, how long did it take from the time you listed it??

If you are selling, how long has your house been listed?? Are you getting alot of traffic?? Any offers??

My husband and I want to sell our condo in Middle Island, so we are trying to gauge a time frame. We have found a house we like, but are reluctant to put a bid on it because we dont know how long it will take us to sell (we dont need to sell for a down payment).

Thanks!!
Katie

Re: For those who have sold OR are selling their home

We bought a house before selling our condo. It was scary, but we had enough money in the bank to balance both for 8 mos. or so (and the bank needed this to approve us for our mortgage without selling first).

We sold in 2 weeks, BUT we priced below ALL units in our complex, and ours was completely updated, which others were not. And units in our complex were still moving quickly--you can check MLS and see how your complex is doing. Some complexes aren't selling at all, regardless of price (like the Selden one with the recent fire). It will take 3 or 4 months to close after we accepted the offer. Our buyer is using SONYMA. We took a loss selling, esp. once taking out the realtor commission, but it was worth it to us not to overlap.

Message edited 4/2/2009 8:27:14 AM.

Re: For those who have sold OR are selling their home

we are in the process of selling. We listed in early February and have had a decent amount of traffic, but no offers yet but REA is still confident and so are we.

We have a house in mind, but we won't put a bid on it until we have a contract for our current house. The stress of two mortgages would be too much for me. We actually are willing to move into my parents' house if there is a gap.

Re: For those who have sold OR are selling their home

I am nervous about carrying two mortages too. We have enough to cover for about 7 months, but I get nervous. My condo is a 2 bed and 1 bath in Middle Island (Country View Estates). According to MLS, there are only 2 for sale in my complex (60 units total) and they are both upper units. Mine is a ground floor with a patio (no deck for outside on upper). I love the house we saw, but I am nervous about putting in an offer before we sell the condo (will be officially listing it over spring break).

Thanks

Re: For those who have sold OR are selling their home

we're selling our (ILS) home and we found the most PERFECT house, but the loan would be more than we could get. (we're buying a hi ranch with our ILS, they're putting down half the mortgage so they don't have any payments (they paid off their house years ago) and we would only have to get a mortgage for around 250,000. if we were to try to buy a house first, we would probably only get approved for around 450,000 and the house we want is 585,000 so we're kinda stuck. i'm hoping the house goes quickly, but i doubt it :(

Re: For those who have sold OR are selling their home

our house is on the market. We had two offers right away but nothing since. We have a good amount of traffic. I know the house will sell, it just takes more time these days

Re: For those who have sold OR are selling their home

We are going to contract (hopefully!!!) this week on our co-op; it's been on the market 3 mos.

I personally would never make an offer unless your condo at least has an accepted offer, preferably in contract. JMO.

ETS: The above is based on needing to sell your condo to purchase a home - whether it be for the downpayment or to make the mortgage month after month. If you don't need to, then go for it but if you do need to, I wouldn't make the attempt. Perfect houses priced well can sit for six months for no real reason than people are afraid to take the plunge. We're in uncharted territory and IMO no house is so great as to get yourself in dire financial straits.

Message edited 4/3/2009 9:14:31 AM.

Re: For those who have sold OR are selling their home

on the market 6 months just went into contract last week! we had a lot of traffic, i showed the house literally 5 days a week for 6 months!