Christina L, Home Seller in Lancaster, PA

We have just listed our home in Adamstown, PA. The price is $269,000- a bargain. Due to the time of year & price , how long will it take to

Asked by Christina L, Lancaster, PA Mon Nov 29, 2010

sell? The MLS/Source ID: 5799463. We originally listed at $279,900, but are in the process of dropping the price. We are transferring due to job and would like to sell quickly.

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I am a local realtor and have shown and sold properties in your area.

3 homes sold recently within 2 miles of your property and were on the market for 8, 3 & 136 days for an average of 49 days on the market. There are 7 properties currently on the market similar to your property and within 2 miles that have been on the market from 8-199 days.

As you know, curb appeal and showings are important. Best wishes and I hope your home sells soon.

If you would like more details, please feel free to contact me.

Joyce Herr
SRES®, ABR®, e-Pro
Century 21 Park Road, Ltd.
1825 Oregon Pike
Lancaster, PA 17601
(717) 509-8577 ext 3117
(717) 572-4315 (cell)
(717) 509-8575 (fax)
http://www.joyceherr.com
www. Century21ParkRoad.com
0 votes Thank Flag Link Fri Dec 10, 2010
Consider having this discussion with your agent, he/she can best advise, as none of us can accurately answer as to the time it will take to sell--do review your list price and make sure you are very competitive--keep in mind that a home is worth what someone is willing to pay for it, not what the seller needs or potential buyer can afford to spend--market conditions do matter.
0 votes Thank Flag Link Fri Dec 10, 2010
Have you had a talk with your agent about this? What have they said to you about the price and the comps in the area? Usually, if you price it below (about 3%) less than the other homes selling in the area and offer 3% to the buyers agent, you'll get your fair share of lookers. Good luck :)
0 votes Thank Flag Link Fri Dec 10, 2010
Hi Christina, you need to sit down with your listing agent, and discuss the time on market issue in detail. Your listing agent most likely has given you comparables for your property, And potentially also an average time on market.... but if you need to sell quickly, then your Realtor will be able to give you advice, either by staging or upgrading your property, or by making the price more competitive in your particular market.

Discuss this in detail with your listing agent, and let him or her know how important the time for selling is to you, you may not get the sale price you would like in that case though, so you have to make a decision what is most important, to sell quickly or .....

Good Luck to you!
Edith YourRealtor4Life and Chicago Connection
Working always in the very BEST interest of her clients
EdithSellsHomes@gmail.com
0 votes Thank Flag Link Tue Nov 30, 2010
I assume, from the MLS #, that you are working with an agent. Did your agent not discuss with you about what an absorption rate is or how your pricing your home can affect when it gets sold...if ever?

Ask your agent about what the absorption rate is there. I can't because I do not work in that area.

The absorption rate is the amount of homes currently on the market compared to how many homes get sold in a given month. Let's assume that there are 45 homes similar to yours on the market and only about 15 get sold every month. As long as NO OTHER homes come on the market, it would take three months before all of those homes get sold.

Seeing that more homes DO come on the market, that's were price comes in. If your home is in the higher end of the homes on the market, then it would always be lower on the list of homes to be shown and subsequently sold. So as long as more homes come on the market lower in price than yours, your home would get infrequent showings and even less offers.

You want to ensure that your home is as close to the top of the showing list as possible. It must be priced right. Not too high (not attract buyers) and not too low (you would be miserable). Your home must be shown in its best light and it must be very easy to show.

Good luck... and very nice looking home by the way.

Terrence Charest
0 votes Thank Flag Link Mon Nov 29, 2010
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