Home Selling in 08225>Question Details

Maddie, Home Seller in Ocean City, NJ

I had a home listed for sale in Ocean City, NJ. in the fall. Lots of traffic and a couple of offers we rejected for price.

Asked by Maddie, Ocean City, NJ Wed Feb 1, 2012

I just read that the longer a home sits on the market, its value decreases. Should we just forget about selling right now?

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The best time to sell a home is right away. The reasons why this is true have never been clear or made perfect sense to me. It's like it gets "shopworn", people figure something must be wrong with it if no one has bought it yet. I often have to give my buyers reasons why a property which has been listed a long while has not sold (deal fell through, asked too much money before, took it off the market over the winter... etc.). You may wish to take it off the market briefly, re-evaluate the market and what you are asking, then relist it. This resets the counter and allows you to start (almost) as new.
1 vote Thank Flag Link Thu Feb 2, 2012
Maddie - The spring market is now. Don't wait, that's what everyone else does & things are moving quickly, atleast here. As long as the house is priced correctly, now is as the time!
0 votes Thank Flag Link Thu Feb 2, 2012
Thank you Roland. It seems to me by listing in the Fall we got a lot of traffic but buyers were grazing for price reductions as the winter months approached. We will probably relist in the Spring. I know realtors want listings asap but I am concerned about time on market. Would it be best to list in March so it appears fresh for spring buyers?

Thank you for your helpful response.
0 votes Thank Flag Link Thu Feb 2, 2012
You should have also read that your first offer is usually your best offer; but that's water under the bridge. If your MLS allows you to re-list the property w/o Total Days on the Market Information, then do so. If not, then lower the price to what your agent advises is the current value of the home.
Web Reference: http://www.321property.com
0 votes Thank Flag Link Thu Feb 2, 2012
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