Home Selling in 23185>Question Details

Sylverte, Home Seller in 23185

Is it typical to have no showings after house is put back on market when deal falls through?

Asked by Sylverte, 23185 Mon Jun 8, 2009

Listed house in early April, received 4 offers over that weekend and got house under contract. House was under contract for 4 weeks and then the deal fell through. Put back on market 3 weeks ago and have only had 2 showings since. Is this normal? I don't understand how we could get several offers when we first listed and not even showings now.

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Barbara Q.’s answer
Ouch! When deals fall through...it hurts the Seller.
Prices may have declined during the past 2 months.
Interest rates have definitely jumped up recently ...

Ultra low interest rates:
Fuel the market
Enhance affordability
Improve market psychology

Discuss your options with your Realtor.
Rather than a price reduction...
You may want to consider offering BELOW MARKET interest Rates...3.5%.(Temporary Buydown)
You do Not hold the mortgage.
You pay a fee to discount the Buyer's interest rate/payment at the closing.
The cost is minimal for the Seller in comparison to the savings for the Buyer.

Buydownn Calculator: http://www.321advantage.com/sellers-calculate-your-rate
Web Reference: http://www.321advantage.com
0 votes Thank Flag Link Tue Jun 9, 2009
Many factors involved. Market conditions have changed, people you were interested probably have moved onto something else. Should advertise haevily that it is back on the market, open house and word of mouth to other agents.
0 votes Thank Flag Link Tue Jun 9, 2009
I would have to agree with Jim Mellen in that there are several factors involved here; Interest rates, while still historically low, have just gone up in the last few weeks. In addition, the first quarter of the year saw an increase in sales and consequently, we've seen a recent increase in new listings. If you had that much interest when you first listed your home, I would think that you're still in a good position. There's simply more out there and, as Jim said, sellers are becoming more realistic and educated in how best to price and market their homes from the start.
0 votes Thank Flag Link Tue Jun 9, 2009
Showing volume has really dropped off in the last week or two. Hopefully, it will pick up again.
0 votes Thank Flag Link Mon Jun 8, 2009
Higher interest rates may also be to blame. Rates are inching up once again and qualifying remains tough for buyers. Depending on your price range, we most likely have seen more new listings to compete with and the newer listings have the benefit of 20/20 hindsight when their pricing and marketing begins. Every day brings new listings, new competition,new challenges. Look at your closest competition with regards to location, price, condition and see what you can do to outshine them. But sometimes even that's not enough...
Web Reference: http://www.JimMellen.com
0 votes Thank Flag Link Mon Jun 8, 2009
The highest activity a property will see is typically when it first comes to market. There are a lot of buyers waiting on the side lines and when the property hits the market you basically access this "pool" of buyers. When the property fell through and went back active, you only capture the "new" buyers therefore activity is likely to decrease.
0 votes Thank Flag Link Mon Jun 8, 2009
I would suspect that your home is overpriced for currrent market condition.
Web Reference: http://cindihagley.com
0 votes Thank Flag Link Mon Jun 8, 2009
Cindi Hagley, Real Estate Pro in Pleasanton, CA
MVP'08
Contact
If home prices have dropped since your house went under contract and you put it back on the market at the original price then it's most likely that your home is now overpriced and that is why it's not being shown.
Web Reference: http://SusanWalshHomes.com
0 votes Thank Flag Link Mon Jun 8, 2009
When you listed your home there were potential buyers looking to buy in your area at that time. .Try to contact the others three buyers that were interested in the house .Also open house in desirable area is very important. because potential buyers like to drive by the neighborhood they want to live in.
As I said open house in you case is GOOD.
0 votes Thank Flag Link Mon Jun 8, 2009
I wish there was a " Normal" My lower priced listings are being shown 2-4 times weekly. Higher priced not as often. So much inventory around makes it difficult for buyers to choose...
0 votes Thank Flag Link Mon Jun 8, 2009
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