Home Selling in 03870>Question Details

HG, Home Seller in New Hampshire

My house has been on market since July. Should I keep it on through the winter or take off til Spring?

Asked by HG, New Hampshire Thu Nov 8, 2007

Help the community by answering this question:

Answers

9
I am not a real estate person. But it is fun to keep eyes on it. Plus, it helps with general financial awareness.
The idea you will hear that taking it off & putting it back on so it is "new to market" is so old that it fools only the very naive.
I look at this differently. How bad do you want to sell? If you sold it for $1 how long would it take to sell? One second. How about $2? One second. $100. One second. So there is clearly a price at which it will sell. Now how much do you want for it? If that price is below market value, it will sell. Pretty quickly. It is impossible to know market value exactly. It is a guess. It depends on many factors that no one, certainly not Real Estate salespeople, will know for sure. What a "similar" home sold for 1 month ago is just that. One house at a moment in time. In my town there have been two homes that have sold in the past 4 months. It says that everyone has their home priced too high. For sale at this moment. To take it off & put it back on is an old strategy that works if the market goes up. Do you think it will? No one knows for sure. It depends on the health of the local economy, as well as the supply of homes for sale. Remember the old supply demand price curves from high school economics? They really help explain things.
So.. the answer to your question involves numerous variables, perhaps the two most important is how much do you have to get vs. how quickly do you need to sell it.
1 vote Thank Flag Link Fri Nov 9, 2007
The question of whether to keep your house on the market through the holiday season is partly answered by a second question--how badly do you want to sell?

If you are anxious to sell, then yes, keep it on the market. There will be less competition during the snowy months as other sellers less motivated than you will take their homes off . But homes always look and smell nice at Christmas-time too, so you will have additional appeal and buyers like to see wrapped packages in a nice property.

And there ARE buyers out there, many of whom will be honestly motivated to buy (the cold weather is just as tough on the buyers--meaning the lookers will stay home), and some buyers will have just been transferred to a new job in NH so they will be anxious. (Remember, many companies hire or transfer employees based on their annual budgets--and as the budgets often start with January, that's a good time to have your home on the market!)

Or, on the other hand, if you are not terribly motivated to sell, then remove the home from the market. This way you won't have folks tracking mud and snow through the house. It will be easier for you and your family not to have to keep the house cleaned up during the holidays. The house will appear to be a new listing when it comes back on in the Spring. But remember, there will be lots of houses coming back on in the Spring, so the competition will be strong at that time and given the economic prognosis for real estate, in order to sell, you will want to come back to the market with the lowest price in your category, which no doubt will be lower than it's asking price is now.
1 vote Thank Flag Link Thu Nov 8, 2007
HG
You have some interesting advice here. I, for one, read the previous posts. IMHO you really are not going to get the answer you need without consulting with someone that knows your specific needs and circumstances of your sale. In the Realtor Code of Ethics there is a guideline about working outside your market area...well, New Hampshire is definitely out of my area!

Some general comments:
1. I'll be there are homes like yours that have sold during the last five months. Buyer purchase the properties offering the most value. What did those properties offer that yours did not?
2. Sellers usually net the most when the property sells in the first 30 days. I set clear expectations for my sellers: ten showings or two offers in two or three weeks and we adjust the price.
3. The market is not static. It's changing all the time. "listing a property" does not mean uploading the pictures in July and then letting them sit there for five months. What recommendations has your Realtor made?
4. If you need to sell, suggest the following steps be taken immediately:
a) Review the latest CMA
b) Adjust the price
c) Increase the commission rate
d) Repaint the trim on the house
e) Adjust the curb appeal landscaping
f). Remove furniture
g) Move furnishings around
h) Re-shoot the photos and virtual tour
i) Mail an open house invitation to 200 neighbors...NAR says that 35% of the time a neighbor refers the buyer
j) Serve food, put the food on the patio so they have to walk through the house
k) Have a raffle for a digital camera. Cost to enter the raffle is a can of food. Make a donation to the Salvation Army or a local food bank
l) Do two open houses, Saturday and Sunday.
m) Have your Realtor sponsor a Broker's open after all this is done.
n) Cancel the listing, relist it with all this done.

Have your Realtor contact me or Trulia if they have questions about anything.
1 vote Thank Flag Link Thu Nov 8, 2007
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
Contact
Keep it on the market if you can. How is it priced? Have your Realtor run you some reports showing all solds, then solds most close to your home so you can get a tighter feel for your immediate market.
Web Reference: http://www.iansellsnola.com
1 vote Thank Flag Link Thu Nov 8, 2007
Hi Heather:

That is a question many sellers are asking right now, and is hard to answer specifically without knowing your situation. What kind of activity have you had since it's been on the market? The key to this market is price and having your house show well.
Do you have a time frame in which you need to move? If so, why not aggressively price it right now before the holidays and get it sold?
If you are not in a hurry to move, you may want to keep it on until the holidays and then take it off until the start of spring. When you are ready to put it back on the market, look at what sold during the winter and price it accordingly.
Web Reference: http://www.northropteam.com
1 vote Thank Flag Link Thu Nov 8, 2007
I would have taken it off to make it fresh in the spring, but spring is in February as far as real estate is concerned. Get ready now so you can beat the other sellers to the spring rush. If you can afford to take it off for 30 days and then relist to make it fresh that will help. In that time I would dress it for success!
0 votes Thank Flag Link Mon Jan 14, 2008
Has your motivation to sell changed? You only have to answer that and you will have your answer to your question.
0 votes Thank Flag Link Wed Nov 14, 2007
I think the question here is, do you need to make a price reduction! Have your agent do a new Comparative Market Analysis for you. Look at your competition and get your house positioned correctly. Waiting is risky business. Get it sold now if you can.
0 votes Thank Flag Link Thu Nov 8, 2007
One major advantage to starting fresh in the spring-- you will be able to start your DOM (days on market) back at 0 DOM. That is a very significant advantage. Undoubtedly, you will do some better staging, maybe repricing-- so don't drag the listing through the holidays-- start over.
0 votes Thank Flag Link Thu Nov 8, 2007
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer