Praveen Mudwani

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Rainmaker
908,918
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

Don't put too much weight in Days on Market. Different type properties have different average DOM. Different priced properties have different average DOM. Townhouses, detached, land, farms will all be different. DOM just means you should do some more research and try to figure out the reason it's staying on market longer than similar properties. I wouldn't assume you have any bargaining power unless you've seen the property, and confirmed the reasons it has above average DOM.

Mar 28, 2017 09:11 AM
Rainmaker
1,531,144
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

The day the buyer hires me. 

Mar 28, 2017 07:11 PM
Ambassador
3,582,259
Anna "Banana" Kruchten
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

Praveen we have so many market segments that we follow every month and some DOM means something and others.......not so much.  It really depends on the market.

Mar 28, 2017 01:51 PM
Rainmaker
707,292
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

If the home is new construction, the DOM really don't mean anything except the house is being built and a buyer cannot close until the home is completed.

Mar 28, 2017 12:18 PM
Rainmaker
1,712,551
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Probably one of the most meaning less stats if it is an overall. However, I try to build in an automatic price reduction within two weeks unless the price is below market value.

Mar 28, 2017 11:10 AM
Ambassador
5,033,427
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Depends on the property and the market

Mar 28, 2017 10:08 AM
Rainmaker
1,157,785
FN LN
Toronto, ON

Each market, transaction, set of parties, etc. is different.

Mar 28, 2017 10:03 AM
Rainmaker
5,096,466
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

The impact of high DOM depends on the individual property, the market conditions, etc. No hard and fast rule that would apply to all.

Mar 28, 2017 09:42 AM
Rainmaker
1,723,026
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

There are too many other variables to consider.

Mar 28, 2017 03:39 PM
Rainmaker
7,794,774
Roy Kelley
Retired - Gaithersburg, MD

In our market, over 60 days on the market would tend to indicate issues.

Mar 28, 2017 12:51 PM
Rainmaker
5,772,353
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Praveen,

I wholeheartedly agree with Corinne Guest, Managing Broker .  There are so many factors to consider depending on the marketplace.  A

Mar 28, 2017 10:40 AM
Rainmaker
5,194,033
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Depends on the property and the seller motivation. Some languish and sell at full price and some sell quickly at significant discount!

Mar 28, 2017 10:24 AM
Rainmaker
4,854,437
Richard Weeks
Dallas, TX
REALTOR®, Broker

Depends on the sellers level of motivation.

Mar 28, 2017 10:17 AM
Rainmaker
2,776,061
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Most excellent question thank you.....

At about the two week mark, unless there is a reason for not getting offers, interest etc. I believe the buyer may start to have more leverage.

Mar 28, 2017 10:17 AM
Ambassador
6,357,805
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Depends on the motivation of they seller, most long term listings are there for a good reason, the seller is fishing for a fool.

Mar 28, 2017 09:56 AM
Rainmaker
3,986,196
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Depends on the property. 

Mar 28, 2017 09:27 AM
Rainmaker
2,171,011
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Right now if a Buyer needs a lot of Seller Assist , I start my Property searches at 90+ DOM !

Mar 28, 2017 09:12 AM
Rainmaker
4,319,419
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Praveen Mudwani - the number of days on the market is always a dependent on the town, type of homes, price range etc.

I will not worry much about it.

Mar 28, 2017 10:41 PM
Ambassador
5,204,760
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Here, it's about 14 right now. It's a crazy market here in Charlotte and buyers will hit them 2-3% lower than list if over 14 DOM.

Mar 28, 2017 09:19 PM
Rainmaker
4,976,070
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Depends on the market and the area..it shifts.

Mar 28, 2017 07:31 PM
Rainmaker
3,988,007
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

It depends on the market, the neighborhood, the price and the home.

Mar 28, 2017 07:23 PM
Rainmaker
1,619,316
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Depends on the market. If the properties on average are sold in 30 days, the one that is 90 days would already have  a bad stigma, unless it is a unique house. 

Mar 28, 2017 06:59 PM
Ambassador
2,679,649
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Vacant property not owned by an investor, the leverage for the Buyer starts on Day One.

Mar 28, 2017 03:12 PM
Rainmaker
3,415,644
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

In this market i do not have homes stay around long enough to go down. In a normal or average market, adjusting the price for time on market can bring about a sale. Location and condition both affect that

Mar 28, 2017 12:45 PM
Rainer
259,005
Mick Michaud
Distinctly Texas Lifestyle Properties, LLC Office:682/498-3107 - Granbury, TX
Your Texas Lifestyle is Here!

A high DOM is generally a negative.  However, I've seen sellers hold out for that "one" buyer that loves the property and thinks it's worth the asking price.  

Mar 28, 2017 11:52 AM
Rainmaker
1,027,602
Susan Haughton
Long and Foster REALTORS (703) 470-4545 - Alexandria, VA
Susan & Mindy Team...Honesty. Integrity. Results.

You have gotten a lot of great answers here;  I'll add it also depends very much on market dynamics and what is typical for the specific market.  Right now, we have neighborhoods where the only reason houses stay on the market longer than 1 day is because it takes that long to go through the multiple offers and get one ratified.  

Mar 28, 2017 11:36 AM
Rainmaker
129,698
sandy straley
Rindlesbach Homes - Salt Lake City, UT
Selling Homes for over 40 Years

I agree, it depends on the property, the market and motivation of seller.  Some properties take longer to sell depending on the uniqueness of the property or location and what type of clients will purchase the property

Mar 28, 2017 11:02 AM
Rainmaker
1,045,440
Dave Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality #WeWillGetYouHome

It would depend on the Market at that time but also the needs of the Seller. In general the longer a property is on the market the worse it is for the seller.. the assumptions always begin... What's wrong with it? Why didn't it sell, It must be overpriced etc etc. 

Market well, price appropriately make sure the home has Price, Showability, Terms and Great Marketing it needs ALL 4 Praveen Mudwani 

Mar 16, 2018 09:58 AM
Rainmaker
809,258
Kasey & John Boles
Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com - Boise, ID
Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties

As many others have said, it really depends on a lot of factors and depends on the type of property, area, etc. -Kasey

Mar 30, 2017 09:53 PM
Rainmaker
4,903,371
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Boy it depends on the market and the condition of the home.

 

Mar 30, 2017 12:29 PM
Ambassador
3,339,834
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

The answer depends on the market, the location and condition of the home, the price, and the seller's motivation.  

Mar 30, 2017 08:47 AM
Rainmaker
599,124
Nathan Gesner
American West Realty and Management - Cody, WY
Broker / Property Manager

This sounds like an opportunity to market your site...

Mar 30, 2017 05:58 AM
Rainmaker
1,498,708
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

It can be 600 days, it doesn't matter.  When the market is at low inventory the seller has all the power.

Mar 29, 2017 02:55 PM
Rainmaker
987,352
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

DOM doesn't really represent a shift - there are quite a few more variables to consider

Mar 29, 2017 07:07 AM
Rainmaker
3,071,489
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Corinne Guest, Managing Broker nailed this one!

Mar 29, 2017 06:18 AM
Rainmaker
4,800,082
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

There is no way of telling.  It is up to the seller.

Mar 29, 2017 06:17 AM
Rainmaker
1,617,866
Harry F. D'Elia III
WEDO Real Estate and Beyond, LLC - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

past 60 days

Mar 29, 2017 06:13 AM
Rainmaker
2,233,760
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

You could have a seller who says, thinks he is the most negotiable owner out there. But if his price for the last four years has not moved a dollar lower, he is not. Waiting for one brave soul to make an offer keeps away lots of buyers who woould jump at the chance when the price is dropped, chopped and shows up in the upper end of a lower bracket. Over priced listings are the fault of agents who take them. Buyers who don't waste their time on them have the advantage in the real estate maret.

Mar 29, 2017 03:55 AM
Rainmaker
1,390,113
Wayne Zuhl
Remax First Realty II - Cranford, NJ
The Last Name You'll Ever Need in Real Estate

Depends on the seller. For some sellers, being on the market even a week is too long and they'll take any offers. For others, they're perfectly content to sit it out and wait for the holy grail of offers to come in.

Mar 29, 2017 03:27 AM
Rainmaker
979,496
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Praveen - I hate to say it, but it really does depend on the market. If most homes are selling within 30 days, and you find one that has been on the market 60+, I would say that the buyer may have more leverage. However, it is also specific to the seller. Perhaps this seller is only listing their home and willing to sell if they get top dollar, and don't really care how long the home sits on the market.

Mar 28, 2017 11:45 PM
Rainmaker
4,272,524
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

With our market, 40 days...

Mar 28, 2017 10:05 PM
Rainmaker
142,796
Diana White-Pettis
Bennett Realty Solutions - Upper Marlboro, MD
GRI, CDPE, CNE, WHC Upper Marlboro Homes for Sale

It really depends on the area, the price, and the condition of the home.  I  think the number of days on the market can be attributed to a variety of things.

Mar 28, 2017 08:33 PM
Rainer
321,564
Melissa Jackson REALTOR
Trinity Premier Properties - Azle, TX
Helping You Make The Right Move

Extended DOM doesn't mean the buyer will get a deal.  I found an older ranch home on land near my son's neighborhood. It's been listed forever and needs works. Not the typical home in demand for our market.  Well, as soon as we go check it out.. The agent got a contract! UGG!!  

Mar 28, 2017 07:33 PM