Lorraine Dsouza (American Real Estate-List &Sell)

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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

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!

Dec 11, 2018 08:44 PM
Rainmaker
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Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Life and real estate are always changing. Are sellers realistic? Have they been properly informed of the current market conditions of comparable properties?  

Dec 11, 2018 08:38 PM
Rainmaker
658,656
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

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.

Dec 12, 2018 03:36 AM
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Fred Griffin presently on Leave of Absence
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

  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.

Dec 11, 2018 09:07 PM
Rainmaker
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Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

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

Dec 12, 2018 05:12 AM
Rainmaker
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Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY
Getting results w/ knowledge & know-how!

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....

Dec 12, 2018 04:38 AM
Rainmaker
527,282
Peter Mohylsky, SoWal Is HOME.
Gulf Place @ 30A - Santa Rosa Beach, FL
Let me help you find your path to the beach.

The same way I deal in other types of markets,  regular conversations about market activity and suggested strategy going forward.

Dec 12, 2018 04:22 AM
Rainmaker
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Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

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.

Dec 12, 2018 03:39 AM
Rainmaker
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Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

This is just seasonal.

Dec 12, 2018 03:28 AM
Rainmaker
1,459,800
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

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.

Dec 11, 2018 11:31 PM
Rainer
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J.R. Schloemer, CRS
Kentucky Select Properties - Louisville, KY

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.

Dec 11, 2018 08:30 PM
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Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams fox cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Some parts are slowing, most are hot.

Dec 12, 2018 08:50 AM
Rainmaker
622,860
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

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?"

Dec 12, 2018 08:22 AM
Rainmaker
724,701
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

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.

Dec 12, 2018 05:57 AM
Rainmaker
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Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

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.

 

Dec 12, 2018 05:54 AM
Rainmaker
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Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

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.

Dec 12, 2018 04:22 AM
Rainmaker
3,057,904
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

No showings in over 35 days. Time to adjust the price!

Dec 12, 2018 03:55 AM
Rainmaker
916,524
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Our market has slow down because of the holidays

Dec 12, 2018 10:59 AM
Rainmaker
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Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

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.

Dec 12, 2018 07:00 AM
Rainmaker
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Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

The concept of buying & selling starts in the minds of those who do or don't...richfuscious

Dec 12, 2018 06:53 AM
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Time for a price reduction.

Dec 12, 2018 06:09 AM
Rainmaker
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Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

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 .

Dec 12, 2018 06:00 AM
Rainmaker
961,113
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

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.

Dec 12, 2018 10:54 AM
Rainmaker
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Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

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.

Dec 12, 2018 09:31 AM
Rainmaker
3,964,523
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

No l change in My market.  Not my homes over  days

Dec 12, 2018 08:40 AM
Rainmaker
4,791,160
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Tell them they need to get ahead of a downward price spiral.

Dec 12, 2018 08:17 AM
Rainmaker
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Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

We are seeing longer days on market and many price reductions.  

Dec 12, 2018 05:18 PM
Rainmaker
4,191,026
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Each market is different. A

Dec 12, 2018 04:35 PM
Rainmaker
4,747,700
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

after 7 days with no showings, that price is reduced.... review your CMA.... was there an error??

Dec 12, 2018 12:38 PM
Rainmaker
979,414
Valeria Mola
SIB REALTY - Sunny Isles Beach, FL
305-607-0709 SIB Realty

Thank you, Lorraine. 

We are in slow market. :(

Dec 12, 2018 11:24 AM
Rainmaker
968,822
Dave Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality #WeWillGetYouHome

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.

Dec 18, 2018 07:49 PM
Rainmaker
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Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

We  are lucky that are market is still okay and having showing.

Dec 15, 2018 06:32 PM
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Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

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.

Dec 15, 2018 07:03 AM
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Susan Emo
Sotheby's International Realty Canada - Brokerage - Kingston, ON
Kingston and the 1000 Islands Area

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!

Dec 13, 2018 03:43 AM
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Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

Haven't seen a slowdown in my market yet, but price adjustments will bring buyers in any mark

Dec 12, 2018 06:33 PM