Home Selling in 27617>Question Details

Sheri Leider, Home Seller in 27617

My house in Raleigh has been on the market since Nov 2007. It was built in 2006 and now we are going for a

Asked by Sheri Leider, 27617 Thu Dec 18, 2008

short sale. We took it off the market for the holidays as we were told that after 31 days we can relist and make it look like a new listing, without the MLS showing that it was on for 396 days!!! What do you think of this strategy?By the way, a smaller home up the block just sold for $65K more than we have reduced our price to!

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11
Sherri,

It does not help "days on the market" to take your house off the market. It always comes down to PRICE. If your home is clean, clutter free and priced right--IT WILL SELL.
The best of luck to you
0 votes Thank Flag Link Sun Jan 4, 2009
Since your home has been on the market for almost a year I assume you’ve already spoken with the lender about a modification of your existing loan. If not and if you wish to stay there you should take that step.

If your focus is to sell your home fast I would be interested in speaking with you. – we buy homes and if we’re willing to buy yours you will not need to stage it or improve its condition. Also, we could be interested in buying in a short sale situation and again I have to assume if you’re talking about a short sale you’re behind on the mortgage payments. If not it may be difficult to get a lender to speak with you about a short sale. It depends on the lender and you or someone who is authorized to speak with the lender on your behalf needs to contact the lender to obtain that info.

I’d be happy to speak with you about your home. If not, good luck with it.
0 votes Thank Flag Link Mon Dec 22, 2008
Sheri,
You have some great answers and should be able to come to some resolution yourself with that information. While I know the Triangle area market is different from my market in the Triad whether the "market" is slow or not is simply a matter of opinion. With the historically low interest rates and the amount of inventory on hand yes it is a buyers market. I will honestly say this is my busiest month this year. I have been receiving calls daily on my listings and from my buyers wanting to see homes. My problem with taking your home off the market now is that all those buyers that want to buy soon are going to be off work and they will have spare time on their hands during this season. Do you not think they will be on the internet looking at homes?

I agree with the answers below also that your pricing is reflective of your motivation. In other words are you priced to sell? You do have to be aggressive in this market as a seller. As for incentives definitely look towards the buyer not the buyer's agent. Of course not seeing your listing or knowing the particulars of your home it is hard to comment on what exactly you may need to specifically do to help sell your home. Speak with your agent and ask where he is marketing the home, what is the marketing plan for your particular home and what market segment is he targeting.

To close I would say that I personally expect that very soon alot of buyers who have previously been on the fence are going to be jumping off with the interest rates where they are. So hopefully you and your agent can position your home to be in the right place (price and strategy wise) at the right time.

Hope this helps,
0 votes Thank Flag Link Sat Dec 20, 2008
Sheri,

All the previous advise is correct. I am responding to let you know that if you do decide to hire a stager, I came across one this past week that is the most reasonably price one I've seen and they do not cut corners to be better priced. I'd be happy to supply their information to you if you choose to go that route when you relist.

One other thing you may consider in selling your home is offering to pay some closing costs or some type of lender friendly bonus to a buyer. A great way to figure out the most beneficial incentive is to talk with a lender and find out what financial obstacles buyers face in the lending process and see if lenders will allow that obstacle to be covered by the seller.

The holidays are the slowest selling time of the year, but it is not impossible. After the first of the year, the sales tend to pick up sometime between mid-Jan to mid-Feb for familes relocating in the spring/summer. Making sure you use this time to optimize your property's condition will best position you for any competition you will have in homes nearby.

Please feel free to email for the stager information as needed or if you have any additional questions I can assist with.

Merry Christmas and I wish you and your family a very safe and wonderful New Year!
0 votes Thank Flag Link Fri Dec 19, 2008
Sheri
I am not going to go into the entire short sale analysis.
212 homes recently sold according to Trulia. So the problem is not the market.
The market is speaking so loudly that you are not listening. If you need an expert in short sales let me know, I will be happy to help you.

In any market, a home priced and marketed correctly will sell.
0 votes Thank Flag Link Thu Dec 18, 2008
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
Contact
Hi Sheri
I live near Brier Creek, and homes are selling there. I agree with the previous answers, it almost always comes down to those 3 things. I would be happy to look at the market and give you my opinion as far as price and location, if you would contact me via my website.
Thanks, Michael
Web Reference: http://www.colvinm.hpw.com
0 votes Thank Flag Link Thu Dec 18, 2008
I tell my brokers and my clients that if a house does not get any serious lookers, say within 45 days of listing, it is because of one or more of three things:

1) Location
2) Condition
3) Price

The location cannot be changed. The condition can. And the price can change.
Let's look at condition first. Is there anything you can do to improve the "condition" of the home? If not, move on to Price. If there are some things you can do to improve the condition of the home, think about doing them. It could be simple things like putting our some fresh pine straw or mulch around shrubs, to repainting a room or two (especially if the current paint is not a neutral color. Or it may be something a little more such as redoing a kitchen or a bathroom. Just check those items against the latest Return on Investment reports to determine if you would get your improvement investment back by doing them.

And the third is price. Priced right needs to take into consideration many factors, including the current market and estimated buyers for your house in its particular neighborhood. Otherwise...

If it's in a good location, in good condition, and is priced right, it should sell. Even in this market.
0 votes Thank Flag Link Thu Dec 18, 2008
Hi Sheri,

Brier Creek is a great area. However in this current market your home has to be priced competitively and show extremely well in comparison to your competition.
Once your home is listed it will never revert back to 0 days on the market no matter how many times it's relisted even with a new firm. There are two sets of numbers for DOM (days on the market ) for each listing. One is for the current listing DOM and the other is for the cumulative days on the market. The information you were provided is incorrect.

Good luck!
Lizete
Web Reference: http://www.LizeteSantos.com
0 votes Thank Flag Link Thu Dec 18, 2008
Maybe just keep the house. You like it, right? Good Luck
0 votes Thank Flag Link Thu Dec 18, 2008
Sheri,Actually with the listing upgrade any Realtor will be able to see the accumulated days on the market.
A fresh presentations may help a little but it will still boil down to Price,Condition and Location.
So if any of those three conditions are not as good or better than your competition,it will be a long sell.
Best of Luck
0 votes Thank Flag Link Thu Dec 18, 2008
The 31 day trick will not work. Any agent with access to MLS will be able to get a complete history of the home. Did you do an honest comparision of your home to the one that sold? What were the more desirable traits of that home versus your home? Sometimes some relatively minor and easy changes can make a difference. You might want to consider hiring a stager to review your home and make suggestions for you.
0 votes Thank Flag Link Thu Dec 18, 2008
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