I have a house to sell. Should I put it on market now or wait till next January?

Asked by Wei, San Jose, CA Tue Nov 13, 2007

The house is in Santa Clara w/ Cupertino schools. I can afford to wait a couple to months before selling it.

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27
Pam Winterba…, Agent, Danville, VA
Tue Nov 13, 2007
Based on where the current market is I would put it on the market now. As January or spring rolls around there will be more inventory to choose from. Also, it is hard to predict where the interest rates will be headed next year.
Web Reference:  http://pamwinterbauer.com
1 vote
Wendy Taylor,…, Agent, Beverly Hills, CA
Tue Nov 13, 2007
The holiday season is traditionally a time most sellers are hesitant to put their properties on the market. It can be a great time. There are usually less properties - meaning yours will have less competition. It is also a time when more serious buyers are out there actively looking.

If you are ready to sell now - price it to bring the buyers now.

Good luck.
1 vote
Robert Lei, Agent, Cupertino, CA
Sun May 6, 2012
You picked a great time to sell !! Congratulations.
0 votes
Ask Realtor, , San Jose, CA
Mon Aug 30, 2010
While interest rate still low. Please do not wait.

Agent- Christine Hsu - Full service @ Discount price.

408-799-8880

Good luck!!
0 votes
Duane Murphy, Agent, Appleton, WI
Wed Feb 20, 2008
Congrats!

If you sold your home that quick and you are now able to move on with the next step in your life then you received the right price. Don't second guess that you could have gotten more or "what if". Look at it as one chapter closing and another just waiting to get started.
0 votes
Terri Vellios, Agent, Campbell, CA
Thu Jan 10, 2008
I must congratulate Wei and his agent on pricing. Wei you first said you priced it AT value then later said BELOW market. What is really important for sellers to understand (I hope you sellers are reading this) Price is a HUGE part of MARKETING your home. When Buyers see a perceived value (what they perceive as value not any of us) they act. A property will sell AT VALUE which is set by the final Buyer on the accepted contract. Great Job!
Web Reference:  http://www.terrivellios.com
0 votes
Michael Robe…, Agent, San Ramon, CA
Tue Dec 11, 2007
Congratulations Wei! A took a bit longer than I expected...but worth the wait!

Michael
http://www.MichaelRobertsHomes.com
0 votes
Wei, , San Jose, CA
Tue Dec 11, 2007
Of course in this case, over asking is not saying much as we priced it below market. Still I am glad it sold quickly. Hoping for a smooth closing.
0 votes
Wei, , San Jose, CA
Tue Dec 11, 2007
In contract. Multiple offers over listing.
0 votes
Sylvia Barry,…, Agent, Marin, CA
Mon Dec 3, 2007
Hello Wei:

Glad that you did not wait. I have seen more buyers during the last month then during the summer. So, have fun moving.

By the way, great looking house, does show like a model. Where are you moving to?

Sylvia
0 votes
Wei, , San Jose, CA
Mon Dec 3, 2007
Thanks Michael, The question is what kind of offers.
0 votes
Michael Robe…, Agent, San Ramon, CA
Mon Dec 3, 2007
Get ready to move! If you don't get an offer in the next ten days....I would be surprised.

Good Luck!

Your stuff may be the best stuff LOL!

Michael
http://www.MichaelRobertsHomes.com
0 votes
Wei, , San Jose, CA
Mon Dec 3, 2007
We had our first open houses this weekend and had a great turn out. My agent counted 70+ groups both days, with quite some repeat visitors. "The house shows like a model. " I might be a "my stuff is the best stuff" kind of seller, so I quoted my agent :-) We also price the house at value -, hoping to attract multiple offers. You be the judge.
Web Reference:  http://2726estelladr.com/
0 votes
Michael Ricks, Agent, Palm Springs, CA
Sat Dec 1, 2007
I may not put my home on the market until 01/01/2008 as the holidays tend to be slow and you start racking up days on the market. Use the next few weeks to really look at your home and detail it like a model home. Get the marketing organized and have some great pictures taken, who ever you decide to work with make sure you are working as a team. Take time and look at some shows like design to sell and see if you have any obvious issues. Ask your agent to be very upfront regarding the condition and pricing of your home, what would it take to sell my house in 30 days or less? ... what would it take to sell my home in 7 days. Go to open houses and check out your competition. Paint is cheap and can really make a differance.
Web Reference:  Http://www.MIchaelRicks.com
0 votes
Don Reser, Agent, San Antonio, TX
Sat Dec 1, 2007
Waiting is silly. You are trying to outguess the market. If you know which way things are going, I suggest the stock market. Decide what price is best for you and offer the property for sale. There are people changing jobs in December looking for places to live. There are also retired people and others not in the general cycle.
Web Reference:  http://reserrealty.com
0 votes
Durenda Fach…, , Coastal Tampa Bay area. Pinellas and Pasco Counties.
Sat Dec 1, 2007
Wei

As soon as a home owner decides to sell, especially in a declining or static market, they should put their home on the market as soon as possible.

No one has the crystal ball to say when the right buyer will walk through the front door and fall in love with your home. Who knows, that buyer may be out looking this weekend.

You have received good advice below, the holidays are traditionally a slower time of year, and inventory is slightly lower.

The prospective buyers who are looking over the holidays are generally serious buyers.

The key in selling in this market is to price agressively at value.

Most Lenders on new financing these days are requiring their appraisers to use comparabel sales no older than three months.

In pricing your home, you will find that evaluating your property based on sales no older than 3 months, and then pricing your property at value will give you a huge sales advantage.

Many sellers price their property at value + room to negotiage.

Buyers have a lot more inventory to choose from than they did a couple of years ago. As a result they are doing some serious shopping for the best deal.

In pricing at value, your property will be perceived as one of the best deals, and will have a better chance of getting the buyers attention to make the first offer.

Of course the buyer will come in low. But if you have priced at value, while your "competiton" has priced at value +, the buyer will be able to justify (in his mind) the legitimacy of your counter when you counter back.

best of luck in the sale of your home
0 votes
Joy Terrell, Agent, Berkeley, CA
Sat Dec 1, 2007
I would Wait--I am a realtor here in the Bay w/ Keller Williams--If you have any further questions--I would be happy to talk to you!!! Joy 1-800-780-1948 x 0 or 510-502-7811---We can look at pros and cons of both choices. Have a great day!!!
0 votes
David Blockh…, Agent, Los Altos, CA
Thu Nov 15, 2007
Wei,

Wait until next March 2008...You're neighborhood should have a few sales in early 2008 by then (ie. homes sold in January and February that an appraiser will use as comps. Santa Clara w/Cupertino schools is a solid buy and if properly marketed should sell quickly at top dollar, but market timing can be a key. I'm advising my buyers that this time of the year is the best time to buy because most sellers will wait until next year to sell unless they have to (ie. only sellers who are selling now, have to sell). If you can afford to wait, I would sell next year when it is more likely that there will be more buyers to compete for your home. If you can wait until then you can take advantage of the benefits of the usual annual selling cycle. If you can't afford to wait sell yesterday (lol).
0 votes
Chris, , 95037
Thu Nov 15, 2007
Hi Wei,

Interest rates are pretty decent as you probably have noticed, so keep that factor in mind too.

I agree with the majority here as well, as to the time is now, because of low inventory. I also want to say that I also think the market will pretty much stay this way, until spring.

There are alot of serious buyers out there, esp. up in your area. Cupertino schools are very desirable, as is the location for the dotcommers.

It just all boils down to you, and your comfort zone financially and mentally. ; )

Lots of Luck,
0 votes
Ray, , 95050
Thu Nov 15, 2007
Wei,
Now would be just as good as any ,given the fact that housing prices are still on the decline. If you need to sell in the near future, granted we are in the holiday season,but prices are only going in the down direction, go ahead and get a hold of a Realtor thats knows your area and maybe is a resident in the same city. If you need a referral, let me know.
Web Reference:  http://www.ownit2day.com
0 votes
Michael Robe…, Agent, San Ramon, CA
Wed Nov 14, 2007
Wei, You have Cupertino schools so, referring to the other's opinions, your home will be the most desirable at ANYtime. If selling is only a consideration and of no real imperative nature....Sooner may not be better. The preferred sellers market looks to be coming in 2009...Now, if your plannning does not allow for a 2009 market then, I agree with all the opinions below. Have fun! Homes in Cupertino School district usually go like hotcakes.

Michael
http://www.MichaelRobertsHomes.com
0 votes
Keith Sorem, Agent, Glendale, CA
Wed Nov 14, 2007
Wei
It sounds as though you are on board with our unanimous opinion to LIST NOW. A couple of suggestions while on the market:
People know that families have things going on during the hoildays, so make sure you explain to your Realtor your schedule so they can inform buyers and their agents.
Also, knowing how everybody busy everyone is, try to be accommodating to buyer's requests to see your home.
To that point I recommend a virtural tour. Everyone can see all the details about your home to a much greater degree than just a couple of photos. If you can swing it I would suggest taking the photos before you decorate for Christmas. If you take them with the decorations up, you might need to re-shoot them afterwards. Hopefully your home will sell fast, but just in case...

Happy Holidays!
0 votes
The Hagley G…, Agent, Pleasanton, CA
Wed Nov 14, 2007
Go for it now...plenty of buyers looking. Good luck!
Web Reference:  http://www.cindihagley.com
0 votes
Sylvia Barry,…, Agent, Marin, CA
Tue Nov 13, 2007
Like what they said, the ones that are out there are serious buyers. People relocate in and out of the area, and there are needs for homes in the middle of winter.

I also think it's easier for students to switch schools between semesters / quarters; that also helps in deciding to move during the holiday seasons

You are going to have bargain hunters out there anytime, the more inventory, the better for them to pick and choose, and hunt for bargains. - at least that's my take on this.
0 votes
Wei, , San Jose, CA
Tue Nov 13, 2007
Thanks for all your answers! Seems everyone agrees that now is better than later, as the inventory is low. The inventory is indeed low in my area at this moment. I see virtually no comparable homes. The turn over rate in my area is very low usually. However, I do have concerns that buyers are also less during holiday seasons. And the few buyers that might be out there are most likely bargain hunters. Any further comments?
0 votes
Sylvia Barry,…, Agent, Marin, CA
Tue Nov 13, 2007
Hi Wei:

Personally, I would not wait. I have seen more buyers coming out and more houses going into contract during just the last month. I have also seen properties being withdrawn from the market for the holidays, or expired because quite a few came in spring and has been on market for a while.

However, I have also seen the property value continue to drift lower even in great areas.

The inventory will be lower, hopefully, in the winter; some of the buyers have waited for a long time and are ready to buy.

If you wait until January, I am worried that the price will be lower and there will be more inventory because most people want to put their property on market for Spring.

Sylvia
0 votes
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