5,488,359
Sellers are no longer able to push the envelope as they have been hearing other sellers were able to do in recent years. Many are still trying to sell high and wind up with extended DOM as a result.
They just have to stick to the basics - location, condition and price are the 3 factors that will sell a home. Nail all 3 and you'll find a buyer!
-
Kathleen Daniels, Prob...
San Jose, CA
-
Anthony Acosta - ALLAT...
Atlanta, GA
-
Bob "RealMan" Timm
Minot, ND
-
Lyn Sims
Schaumburg, IL
-
Doug Dawes
Topsfield, MA
-
Peter Mohylsky,
Miramar Beach, FL
-
Michael Jacobs
Pasadena, CA
-
Fred Griffin Florida R...
Tallahassee, FL
4,739,220
Life and real estate are always changing. Are sellers realistic? Have they been properly informed of the current market conditions of comparable properties?
-
Kathleen Daniels, Prob...
San Jose, CA
-
Ron and Alexandra Seigel
Carpinteria, CA
-
Anthony Acosta - ALLAT...
Atlanta, GA
-
Bob "RealMan" Timm
Minot, ND
-
Doug Dawes
Topsfield, MA
-
Nina Hollander, Broker
Charlotte, NC
-
Debe Maxwell, CRS
Charlotte, NC
1,101,219
Riverside CA, my old stomping grounds! Your market is so different than ours, even just a few hours away.
Doing a quick search for single family resales in my area, median DOM = 40.
Next month we'll be able to tell if we slowed down. We have a lot of new construction. Plus, I don't handle much residential at all and this is 'go time' for us in commercial, consistently each year at this time.
-
Ron and Alexandra Seigel
Carpinteria, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Lyn Sims
Schaumburg, IL
-
Doug Dawes
Topsfield, MA
-
Michael Jacobs
Pasadena, CA
2,708,363
Not an issue here in Tallahassee. A correctly priced home in the median price range ($175K to $275K) will get offers. Same for lower-end 2/2 townhouses at $100K to $125K. Anything north of $400K, and especially over $500K, may see longer times on market. High-end houses ($600K and up) may take a long time to sell.
-
Bob "RealMan" Timm
Minot, ND
-
Doug Dawes
Topsfield, MA
-
Nina Hollander, Broker
Charlotte, NC
-
Peter Mohylsky,
Miramar Beach, FL
-
Debe Maxwell, CRS
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
3,416,372
Our market here in NH has slowed. There is a slow and steady pace of buyers, but i am sseeing homes that old in a couple of days not selling. The old answer is that it is priced too high. Buyers are not looking at over priced homes where those homes who bring their price down are selling
-
Andrew Mooers | 207.53...
Houlton, ME
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Doug Dawes
Topsfield, MA
874,080
First I'd pull an activity report to see showing activity at homes within the same price range. Are NO homes getting activity or just your listing? If it's the later, it's price. A properly priced home WILL sell any time of year....
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Lyn Sims
Schaumburg, IL
-
Doug Dawes
Topsfield, MA
-
Michael Jacobs
Pasadena, CA
1,292,395
The same way I deal in other types of markets, regular conversations about market activity and suggested strategy going forward.
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Fred Griffin Florida R...
Tallahassee, FL
-
Doug Dawes
Topsfield, MA
-
Michael Jacobs
Pasadena, CA
2,288,866
No "slow down" and just "adjust your sales". Your video count shows there are "showings"... lots of them. Communicate with your seller with a link to where you blogged about their property, where you are getting traction on a social media site and all the positive comments about their listing. They don't know if you don't show and tell them. Plenty to do in marketing. Look at your copy, change up images... but squeeze more out of any market... there is always a real estate market. Is a listing over priced? Building a case for lowering it a tad... to be in the higher end of a lower bracket and watch what happens.
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Doug Dawes
Topsfield, MA
-
Michael Jacobs
Pasadena, CA
-
Candice A. Donofrio
Fort Mohave, AZ
4,434,227
This is just seasonal.
-
Bob "RealMan" Timm
Minot, ND
-
Fred Griffin Florida R...
Tallahassee, FL
-
Doug Dawes
Topsfield, MA
-
Michael Jacobs
Pasadena, CA
-
Andrew Mooers | 207.53...
Houlton, ME
1,650,542
No offers- yes, average DOM is in here 40 ish days depending on the area and price, but no viewing? Seems impossible, unless you have no marketing in place, no pictures, no open houses, overpriced, and showings by appointment only at a certain time of a day with 48 hour notice.
-
Bob "RealMan" Timm
Minot, ND
-
Doug Dawes
Topsfield, MA
-
Nina Hollander, Broker
Charlotte, NC
-
Candice A. Donofrio
Fort Mohave, AZ
-
Michael Jacobs
Pasadena, CA
457,890
It depends on the area of town. I do think all-in-all things have pulled back a bit, but some areas are still going stong; even stronger if you have it priced right. I think the price, condition, & location still dictate how the property is going to fare on the open market.
-
Bob "RealMan" Timm
Minot, ND
-
Lyn Sims
Schaumburg, IL
-
Doug Dawes
Topsfield, MA
-
Nina Hollander, Broker
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
6,689,449
Some parts are slowing, most are hot.
-
Andrew Mooers | 207.53...
Houlton, ME
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
1,444,598
The Bay Area market inventory is up. Prices have stopped climbing towards the moon. We are seeing lots of price reductions...which is what you need to suggest to "sellers who have their home on the market for over 35 days with no viewings & no offer?"
-
Teri Buchanan
Napa, CA
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
921,504
35 day, no viewing, no offer.
Start mining. What is happening with other homes with comparable features and size regardless of price?
What is happening with other homes at the same price point? One bracket up? One bracket down?
Pay really close attention to homes that DID sell in all of these categories. Can you tell why they sold and yours lives a lonely life. Is it updates, style, location, descriptive. I discovered that a $35 update in a 3/2/2 SFH turned my listing into 'the listing' and got a $32,000 bump in the sold price. I've sold this same house several times.
What is happening with other homes with same features/price point in nearby locations?
I have never encountered resistance from other agents regarding sharing their experience with current or recently sold homes. Always take 'We're getting lots of showings" on a home with 63 DOM with a grain of salt. All agents like to engage in puffery to make themselves appear busy.
What is the level 1 and level 2 ratio of YOUR marketing effort? Level 1 should be ten times the number of comparable homes sold. If your ratios are in, then your marketing IS WORKING!
The consumer is rejecting the perceived value. Don't mistake that to mean only price.
With this information it can be determined if its the market or the agents marketing.
The sellers situation dictates what you do next. Reducing price when there is no indication of the presence of ready buyers will definitely hurt the seller.
IF all of that is too much effort for a real estate professional, go for the 'universal cure' and reduce the price.
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Lyn Sims
Schaumburg, IL
1,259,558
1st - No viewings no offers in 35 days...adjust the price or advertise it...lol
The market is still active with homes in the upper end lagging, in our town.
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Doug Dawes
Topsfield, MA
5,313,828
To-date, I've not had homes sit on the market for over 35 days in recent months even thought our mls statistics show longer DOM on average. The last one I listed sold in 24 hours with multiple offers. Market seems to be relatively stable... we are still short on inventory.
-
Bob "RealMan" Timm
Minot, ND
-
Fred Griffin Florida R...
Tallahassee, FL
-
Doug Dawes
Topsfield, MA
-
Michael Jacobs
Pasadena, CA
5,484,994
No showings in over 35 days. Time to adjust the price!
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Doug Dawes
Topsfield, MA
-
Michael Jacobs
Pasadena, CA
2,230,207
Our market has slow down because of the holidays
-
Michael Jacobs
Pasadena, CA
-
Bob "RealMan" Timm
Minot, ND
-
Anthony Acosta - ALLAT...
Atlanta, GA
2,522,392
Our market is slow to stable Lorraine Dsouza . Over the last decade we have had a real roller-coaster market with an oil boom, oil bust, and now things starting to pick up again in the oil field. My crystal ball for the Minot ND market is that we will see an excellent spurt of activity this coming spring.
-
Anthony Acosta - ALLAT...
Atlanta, GA
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
2,849,062
The concept of buying & selling starts in the minds of those who do or don't...richfuscious
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
8,153,130
Time for a price reduction.
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
1,870,553
We use the market stats from Showing time to show sellers the slowdown. Helpful as it tells you the difference from month to month & yearly. It shows foot traffic. It is interesting & validates what you are 'feeling'.
But ... no shows at all might mean they are overpriced.
We are working in spurts which doesn't help you really at all does it .
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
1,153,799
July through mid October is our normal "slow down" and a Holiday slump is often a regular visitor until just after the New Year, hold on tight after that.
-
Michael Jacobs
Pasadena, CA
-
Bob "RealMan" Timm
Minot, ND
1,538,744
Need to set expectations from the get-go and price appropriately. No more "pushing the envelope" since the buyers that can afford that are long gone. Now have to price for the zero down conventional buyers.
-
Michael Jacobs
Pasadena, CA
-
Bob "RealMan" Timm
Minot, ND
3,986,473
No l change in My market. Not my homes over days
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
3,430,532
We are seeing longer days on market and many price reductions.
-
Michael Jacobs
Pasadena, CA
5,774,100
5,584,639
after 7 days with no showings, that price is reduced.... review your CMA.... was there an error??
-
Michael Jacobs
Pasadena, CA
1,598,552
Thank you, Lorraine.
We are in slow market. :(
-
Michael Jacobs
Pasadena, CA
1,045,965
Yes, leading indicators of a slow down have been there since late spring early summer. I have seen many properties on the market for multiple months but fortunately none of my listings have experienced this every listing I have had this year has had multiple offers in under a month. I have had very smart seller clients that understood what I was showing them and the end results were they sold quickly and above list and market prices at the time. You have to adapt to markets but unfortunately many agents and home sellers during up markets become complacent and even lazy. They cut corners on marketing, preparation or over anticipate home values by pricing ahead of the market. The last is a mistake in nearly every market condition.
5,201,981
6,006,034
I don't have any active listings right now, but if I had a Seller with this mentality, I would definitely be sending market updates to show other homes are going UC and the pricing has changed.
1,472,185
Just once I'd like to work in your markets!!! We have homes that've been on the market for years!! I have never in my entire career had multiple offers! Our market has ALWAYS been a Buyers Market and has always been sloooooow. When I take a listing, it is for a minimum of 1 year and the Sellers know it can be months between showings. Totally different ballgame in my market and Price is NOT King. I've seen homes priced more than a million under appraised value and still no takers. We continue to market knowing our Buyers Pool is beyond shallow. This week I've sold 2 properties that have been available for more than 7 years!
3,213,529
Haven't seen a slowdown in my market yet, but price adjustments will bring buyers in any mark