Went on the market, had a close to full price offer in less than a week with less than 10 showings. Accepted it. Buyer turned out to be completely insane, and offer fell apart over home inspection. Went back on the market, this time had a full price offer in just over a week with about 5 showings. Accepted it and closed just over a month later.
Post by orangeblossom on Jul 11, 2014 8:06:59 GMT -5
I have to look at the listing date, but we've only had a few showings. It's been about 1.5 months give or take. It is definitely a buyers market here. The houses in our neighborhood are starting at $30K less than what we paid for eight years ago, so you've got new homes going for less than old homes.
We're more than likely going to have to reduce our price. I just want it to sell, so we can move on.
Four showings (that I know of) and we had a full price offer in less than 2 months and closed 1 month later. We were definitely in a buyer's market though. The house across the street from us took 13 months to sell. We felt incredibly lucky.
Ours was listed on a Tuesday & went under contract the following Monday. I think we had 6-7 showings, but the 2nd one was the buyer.
6 days from listing to under contract
House before that was our first one and was under contract in 7 days. It was in a cookie-cutter neighborhood, closed within a month of going under contract.
ETA: it was a cash buyer who just sold their $1 mil house to 'downsize' - they did not want an appraisal and it was a quick close. We will never be that lucky again!
I just tried to sell a house. 90 days on market, two price drops and only one serious showing that I know of. I took it off the market and will rent it instead. The market around here is very neighborhood specific--houses in the neighborhood where I live go on/off the market in less than 30 days. In the neighborhood I was selling the house in, it could be 6-9 months or more in some cases. And these neighborhoods are about 15 miles apart.
I have to look at the listing date, but we've only had a few showings. It's been about 1.5 months give or take. It is definitely a buyers market here. The houses in our neighborhood are starting at $30K less than what we paid for eight years ago, so you've got new homes going for less than old homes.
We're more than likely going to have to reduce our price. I just want it to sell, so we can move on.
Good luck selling your house.
We are listed at $5k over what we paid 8 years ago. That doesn't include the $10k in upgrades. We may be renters for life after this.
Good luck to you, too. This shit is stressful.
Thank you. Yes, it's very stressful.
I fill a little less stressed now that the house is show ready, but then you have to always try to keep it that way, so that's kind of a pain.
We've had some issues with our realtor, and if we run the length of the contract, we definitely won't resign with them.
I just had to send them new pictures that I took, because the ones they took and put up were just not good and representative of the house. To be fair, the whole house wasn't picture ready when she took them, but the main rooms were: kitchen, MB, family room, dining room, etc and she just didn't do a good job. I retook those pictures, and added the rest of the house.
We listed last year at this time. Took us 30 days. We had 4 or 5 showings. It was a very small house so not a huge market for them. I felt lucky it sold as quickly as it did.
Now homes in my new subdivision are selling within the week if they are priced right.
I sold my co-op with 2 showings. It was never listed online, these folks knew the listing agent and she showed it to them first. I priced to sell. I could have gotten a better price but our renters were being weird and we felt that until they moved out we were going to have low ball offers.
Post by imojoebunny on Jul 11, 2014 10:17:26 GMT -5
We sold in May. We had three offers in 24 hours. Two for over list. We took the third offer, $14k over list, 21 day close, 20% down, standard loan pre approved, 10 day inspection period, minimal cash in lieu of repairs. $10k earnest money. We had a backup offer, if that didn't work out. We spent about $7k to stage, paint, and do repairs before listing, but I feel like that netted us about $21k more than we would have gotten without them and a quick sale, so those two weeks of juggling contractors was worth the $1,000 a day payoff.
I feel like we were very fortunate. Of course, they had us over a barrel on the buying side, so that's the other side of the coin, but we moved to an area that is a little less expensive, with better schools, so I feel good about what we got for the additional money (a brand new house, verses an old renovated one, an additional 600 square feet of finished space, 1000 square feet of storage, and a carport). Our payment is pretty much the same.
Not me, but my parents "sold" their house in June in about six hours. The first showing resulted in an offer and they accepted it later that day after some back & forth. We're in the Midwest. They live in a very popular neighborhood and priced their house well, so I think that's why it went so fast.
(I put "sold" in quotations because if you read my thread on here, the buyers are now trying to back out less than a week before closing)
We had an offer, as soon as the sign was up. We decided we would take the offer.
There was already an open house scheduled, and we told our realtor to have it anyway. So after an open house and a handful of showings later, we had no other offers, the market crashed, but our sale went through.
I've sold 5 houses in various markets. The last house was in 2011, and we had a contract in 10 days after 3 showings. We were also priced well and had a kick-ass realtor.
The longest was probably 3 months, after a good dozen showings.
Post by illgetthere on Jul 11, 2014 10:39:52 GMT -5
The first time we listed, we had no offers in 6 months. After we dropped the price 25k, we had 2 offers within days. They were the only two showings we had and 1 ended up being full price. Origianlly listed in 2013, sold in 2014.
Edit: We listed on a Friday, had a showing Saturday. The offer was about 10k under asking and I was taking my time. We then had another showing Monday and had them compete.
Post by thatgirl2478 on Jul 11, 2014 10:48:19 GMT -5
1st buyer - we were on the market for about a month took about 10 - 12 showings. Buyer fell through.
2nd buyer - we were on the market for 6 days and had 9 showings. Buyer now owns the house .
Total time from listing to closing: Mid Oct - Mid April so 6 mo.
MCOL - not a 'hot' or even 'warm' area. Lots of foreclosures, undesirable school district, major city (county seat of a county outside Chicago) so typical major city crime issues. Buyers market - lots to choose from - some in updated condition some falling apart.
ETA we never dropped the price. We listed at 105k and accepted an as appraised value of 95k.
Post by asoctoberfalls on Jul 11, 2014 10:50:55 GMT -5
We are listing our house soon. We will be lucky to get what we paid in 2007, and we have put almost 50k into it. I can't wait to just be free of this money pit!
In our area low priced fixers and low priced entry level homes fly off the market - often the day of listing - at list price with no seller assist. Mid priced homes often require price reductions or sit on the market for extended periods and may need seller assist to move them. High end homes sell at the same rate as in the past.
First house- sold in 4 days. Multiple offers. Second house- sold in 2-3 months. It was a very generic house in an undesirable neighborhood. Third house- 3 weeks, got 3 offers in at once About to list my fourth house...
I don't think I've gotten that lucky. I think if you are realistic about price you can find a buyer quickly. The goal is to have your house be the nicest one for sale at that price point. I think people go astray when they try to decide what the house is worth based on what they paid, or how much they put into it, or how much money they want to make from the sale. If you want or need to do that you can, but it may take a long time until someone is willing to pay what you want instead of what it's worth right now.
We sold our house in 2011. I think we listed at the worst time - in January during the snowiest winter. We had one open house and 6 showings in 2.5 months before we got an offer. We closed in mid-April.
We were in the "starter home" price range and the market was really hot for houses under $200k, which ours was. This was two years ago but I think the market is still pretty good if you are priced right. I check the listings pretty regularly and the only houses that seem to be sitting for more than 30 days are houses that are way over-priced or need a lot of work.
Post by FishChicks on Jul 11, 2014 12:23:07 GMT -5
Our house in Los Angeles was listed on a Friday, had several showings that day and more at an open house on Sunday. Full price offer received that Tuesday with closing 30 days later. Downside: we listed for 90k less than we paid in 06, and the appraisal came in 20k below list because the appraiser would not consider the condition of the house or the comps.
The place we're renting in MN has been on the market since April with close to 20 showings and no offers. It is overpriced.
We listed yesterday afternoon and have already had one showing. It's vacant, so I am hoping I have good luck like a lot of the ladies here!
We listed at a reasonable price for the area (totally taking out what we paid, what upgrades we have) but are still willing to negotiate. I think that's ultimately the key.
First house -- just under a month on the market, two well-attended open houses, and maybe 3-5 showing a week (maybe ~20 showings total). Went under contract for $30k under list, but still sold for $120k more than we paid two years earlier.
Second house -- just under three months on the market, two open houses, and maybe ~30 showings (including several people who came back 2-3 times). Went under contract for $45k under list, which was $40k less than we paid five years earlier. It was an awesome house, but it was relatively expensive for the area and on a weird lot, so kind of a hard sell.
Listed on Halloween 2010, closed 5/26/11 I believe. Countless showings.
The house we bought was listed for less than 24 hours before our offer was in and accepted. The houses in our area of the neighborhood now are sitting for 3-6 months; our neighbor is the realtor for the house across the street that has been for sale for 7 weeks and he said last night there have been 16 showings, no offers.
Post by crashgizmo on Jul 11, 2014 17:11:07 GMT -5
We listed in April 2013, two showings and a full price offer in 4 days. We did not live in a hot market, but our house was awesome. DH and I loved it on site and made a full price offer when we bought it, and so did the family that bought it from us. It just had a great flow and layout that most other houses in the neighborhood did not.
Less than 2 days to sell our house. We listed ours 3 weeks ago on a Thursday. Two showings on Thursday, four on Friday, and several on Saturday. We had a below-asking offer on first night and a full-price offer on Saturday mid-day. We took the offer, had a few minor things to replace/fix from the inspection (maybe $2k or so), and close a week from Monday. Assuming no hiccups, our house will sell for $60k more than we bought it for 3 years ago. It's insanely a seller's market in my city. Thankfully we're moving to a different state, so while it's a seller's market there, it's not nearly as crazy as here.
We were lucky - and I know this will never happen again for us.
Our townhouse is in the DC suburbs. Listed in early May. On the market 75 days with 20+ showings and no offers, so we rented it out instead. We dropped the price twice
Post by whitemerlot on Jul 12, 2014 20:51:27 GMT -5
February 2013 4 or 5 showings. Full priced offer within 24 hours, no issues and a 30 day close. We had a second full priced offer, but they wanted a 60 day close and would be all cash.
Post by thecatinthehat on Jul 12, 2014 20:57:55 GMT -5
Our house was listed mid March, we've had a bunch of showings and two lowball offers. Actually now that it's taking so long, the first offer would have been good enough at this point We lowered the price once so far and just recently, we added a closing cost assistance. It's a small town so the market does not move as fast even though I think out house is the best in the market at our price range. DH and I are getting anxious because I think our realtor made it sound like our house was going to sell so fast we were even worried about closing before we had to move.