People selling right now...

If you're selling now, just curious how you've been doing? How long have you been on the market and how much traffic do you get?

We originally listed in May, then switched brokers in early July (he was terrible - put the sign in the lawn and we never heard anything from him, didn't return calls etc - thankfully we were able to break the contract with no penalty). We signed with a new agent, like her a lot, she's been doing a lot of marketing and follow up, we had 2 open houses. First one we had 6 couples and this past one we had 8 couples. So far we've had 2 serious interests but no offers...fingers crossed. Meanwhile we saw a house WE loved but don't want to put an offer in until we have an offer on ours...not sure we want to do a contingent offer or if the sellers would accept that. I'm in NJ...but wondering how any of you are doing, whether it's NJ, LI, CT...thanks!

Re: People selling right now...

I am selling in Brooklyn so it is a bit different... We tried to sell by owner from March-June and had good traffic, some serious interest, no offers. We gave it to a broken in June and within two weeks we had a great offer. But she (the buyer) sat on the contract for weeks and then ultimately reneged so we basically lost all of July. Since we have been back to Open Houses this month it has been dead and my realtor expects it to stay that way until September. So aggravating! Good luck.

Re: People selling right now...

It took us over a year to sell. In the beginning we had a lot of foot traffic and then it died down. Sometimes going 3 weeks without any interest.

In the end, with this market, it's all about price. Check out comparables in the the area and price accordingly. Listen to your Realtors opinion on pricing. They aren't "just trying to sell a house" if they are good, they KNOW what price your home will go at. You may not like what you hear but if you don't listen you'll sit on the market for a longgggggg time. Also, they will beat you up with offers. We were getting offers 50-60k below asking. It's a buyers market. If you can hold out a little, I'd wait. If not, you might be taking a loss, but you'll make it up on the next house for sure.
thankfully we did

Re: People selling right now...

were in CT but went on in april
4 offers that ended up flaking so never go to contract on anyone

we reduced once


we went through early july and it was dead
then end of july we had 10 showings in a week, this week we had 4 showings

havent seen an offer since june

Re: People selling right now...

We have been on the market since end of feb. We started a little higher in price (bc we bought high in price).
We saw some interest but not much.

We dropped the price significantly about 2 weeks ago (also had a private appraiser come) and now we are more than priced well/ right

Since the price drop we have seen a significant amt of traffic and interest. Had 1 offer but didnt work out.


It is sooo frustrating. We wont look at anything until we are AT LEAST in contract here.

Our house is all redone which puts us in a higher price range for the area. So it makes it even more difficult.

Re: People selling right now...

We went on the market a little over a year ago at the high end of what was recommended. Within two weeks we had an accepted offer. The buyer flakes at contract signing.

We reduced the price by 10k and saw no traffic for over a month. My cr@p broker didn't even notice, I had to flag it with him!

We reduced another 20k and that did the trick! We had 1-2 showings a week and went through a period of open houses every weekend bc they were so successful. But no offers.

Then I get a low ball offer. The buyer would not counter my counter so my 'wonderful' broker encouraged me to short sell. We would not. The buyer came back a month later saying he really wants the house and wants to work with us. He went up 5k. Now to give you some perspective, his bid was in the price range of the tiny bungalows in the area. I have an updated small 3 bedroom.

We gave up and took the house off. Three months later my broker calls bc he has someone and please can he show it. The woman ended up making an offer and we went to contract! Then she breached!!

House went back on in April now priced even lower. We had a few successful open houses but only two showings. There are a lot of houses in my area for sale and much lower prices. We couldn't compete and took the house off.

Having been involved with home selling for over a year now I noticed that the market, at least near me, is worse now. At 399 last summer we had tons of traffic. At 389 this year we did not.

Re: People selling right now...

We had one offer for over 100k less than we were selling for when we were new to the market (2 weeks on). In the past year there have been only THREE sales in our market. None of which was our home. No one is really reducing their prices. I think we are going to take our home off of the market when the contract with our realtor expires in September. July was completely dead here. For April, May, June and August we have had multiple people look every week. I told my realtor that unless the people are "real" don't bother to stop by because we are not resigning with him. I am so annoyed with him. We had only 1 open house because I begged for it. It had no notice. We had a realtor open house because I begged for it as well. He has done nothing. This week he finally brought someone to look at my place for the first time ever. I don't think he did a good job at all. I cannot stand living like this and we are just done. We cannot sell lower than what we have it priced for other wise we will need to bring $ to the table to sell.

Re: People selling right now...

Re: People selling right now...

We listed in early May. We got lucky with an offer the first weekend. We continued showing it for a few weeks until we were in contract, but I was surprised that there wasn't tons of traffic.

We're closing tomorrow

Re: People selling right now...

It took us about 2.5 mos to sell...our broker was awful but somehow she managed to get a decent offer pretty quickly..we're hopefully closing in two weeks!!!

Re: People selling right now...

Yeah tell me about it!

I left the worst part out - so we went to contract I think in January. All cash buy but she wanted to wait until mid April to close bc of a jumbo cd that would mature. Fine. March comes around and she requests an early close and asked if we could move out early. So we scramble to find an apt to rent. We move in April 1...get ready for it...April 4 she backs out. Fortunately we got out of our lease and moved back in June but the landlord pulled a bait and switch with us and tried to say we are responsible for rent if the new tenant doesn't pay, even though an entirely new lease was created. I had to get our lawyer involved in that mess too!

But fortunately it is all over now and we decided we will try again in a few years when we can hopefully make some money. Some of the active comps are listed as low as 330s and there is just no way we could compete with that.

Re: People selling right now...

I know the market $ucks right now, but I think a good real estate agent can also help.

She's working with me on a seperate issue with a client in need of a specific kind of rental, but LIF's own BETH LOWE has been great. Just thought I'd throw the word out.

If we ever decide to sell in the next few years I'd absolutely consider using her if she's still doing this kind of work.

I wish I knew about LIF and Beth when we were househunting, because our agent was not that good at all.