My home has been on the market for 31 days as of today. I have had no showings or calls related to it. I have been monitoring the hits to the

Asked by Lori Simpson, Weatherford, OK Sat May 1, 2010

various websites and have had over 100 on all of them. What is the average time that it takes a home to sell in the Weatherford/Willow Park area?

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12
Anna M Brocco, Agent, Williston Park, NY
Sat May 1, 2010
What is your agent advising--if you had no showings and the marketing is giving you plenty of exposure, do consider lowering your price--keep in mind that a property is worth what someone is willing to pay for it; it doesn’t matter what the seller needs or potential buyers can afford to spend. Market conditions do matter-- make sure your property shows well, is neat clean, clutter free and don't forget the exterior for curb appeal. Your agent can advise you best.
2 votes
T.E. & Naima…, Agent, Dallas, TX
Mon May 3, 2010
The pictures are really of poor quality. You really need to have them taken by a professional. Has your agent asked you to declutter? Busy wallpaper is out so you may want to consider taking it down and painting the walls a neutral color and improving the curb appeal without breaking the bank. Has your Realtor shared with you comparables in your neighborhood? Homes in your immediate neighborhood sell in less than 45 days and that is not taking into consideration the one foreclosure.

Sorry if it seems harsh, but this is from someone that saw the pictures.

Good luck,
1 vote
Keith Sorem, Agent, Glendale, CA
Mon May 3, 2010
Look at the link below.
It says that there are 43 homes for sale and 3 sold recently.
What does your Realtor show you? How many homes, like yours, have sold since your home hit the market.

In most markets with high inventory and low sales levels (which your appears to be), only aggressively priced homes will sell.

Good luck.
1 vote
Daryl & Brig…, Agent, Garden City, KS
Sat May 1, 2010
There are 5 main reasons homes do not sell.
#1 The Price: you must be priced within your local market value. You have to be in-line with what other comparable homes recently sold for in your area. You must be in-line with other reasonably priced homes that are your competition. (of course the lower priced homes are going to sell first). If you are over priced then you will not be able to sell your home even if someone wants to overpay for the home. The reason being is that it must appraise for at least the purchase price for the lender to be able to loan the funds. Unless of course someone is willing to over pay with cash.

#2 Marketing Efforts: List with a professional Realtor, Local M.L.S. and Internet exposure are key. etc..
#3 Property condition/staging: De-cludder, Clean, fix unsightly problems, etc...
#4 Availability: Make your home available for showings, don't have ridiculous showing times. etc...
#5 Location: If your home backs to a freeway, don't try and sell it for the same price as the homes in the middle of the neighborhood. Or if it's on a busy street, awkward lot, next to junk yard, the part of town with the less popular school district, or whatever.

Good luck!
1 vote
Jackie Rankin, Agent, Fort Worth, TX
Sat May 1, 2010
Lori,

I am very familiar with your area, having sold many homes in the Weatherford//Willow Park/Hudson Oaks area. In Willow Park, there have been 19 properties sold in the past 6 months. The shortest amount of time on the market has been 4 days. The longest is 137 for an overall average of 45 days. There are currently 43 properties for sale with 10 under contract, so you basically have over a year's worth of active homes on the market. Pretty stiff competition which means you need to be priced aggressively and you must be the best home on the block (so to speak :) ). If you are represented by a Realtor have them run a CMA so that you can see if you are priced correctly. If you are not represented by a Realtor then you are not receiving maximum exposure for your property (I expose my listings on over 30 websites plus MLS), and I know how to price a home correctly as I was trained by an appraiser. Give me a shout if you need some help (and you aren't already represented.) Thanks and good luck !!

Jackie Rankin truvaluerealty@gmail.com
1 vote
Carl Ben Wit…, Agent, Upper Montclair, NJ
Sat May 1, 2010
Your local market is a variable. I would say, the first answer by Bill there is about as on the money as anything you will hear. If you are selling yourself, it is a familar story. I would add Open Houses to Bill's list. Good luck.
1 vote
Bill Eckler, Agent, Venice, FL
Sat May 1, 2010
Lori,

31 days on the market is not a long time but the fact that you have had so little interest should cause concern. Are you working with a real estate professional? If so are thorough review of the recent sales activity for similar homes in your area may provide you with some helpful insight.

You may want to consider the following guidelines as you continue with your home sale.

1. no showing.....lower your price

2. showings but no offers.....lower your price

3. offers but none that are accepted.....lower your price

Obviously, there are other factors that should be considered but under the premise that anything(in any condition) can be sold if it's priced right.....it's a matter of identifying the right buyer.

Good luck with your sale.


Bill
1 vote
Debbie Scri…, Agent, Weatherford, TX
Tue Sep 14, 2010
Markets shift and so must we as agents, sellers, and buyers. In July I listed a home in Weatherford that got a contract within 3 days of listing it. The buyer bought it off the internet. It took the sellers months to get it ready for it's debut. But when it hit the market it was the best price and the best condition and I put in a lot of effort showcasing it. Sometimes in this market it is hard to reduce a home enough to overcome deferred maintenance no matter how insignificant it seems to you. You can thank DIY and HGTV for that. Nevertheless, many homes are greatly improved and updated so if yours is not, you cannot compete at any price. Paint is simple and makes such a difference and provides a clean slate to look at. Storing anything including family photos is of utmost importance.
The next thing after doing all that work is to price it as the most competetive DEAL on the market. Sorry to call it a DEAL but that is what it is to a buyer if he is going to buy in this market. If you price WITH the market then you are just the average home. You must price AHEAD of the market which at this time is LOWER than the other comparable homes. Even a little bit is substantial enough to make a buyer bite. You must have the best bait. The seller of the house above was worried about getting a low offer after pricing at his lowest price. He did get an offer $20000.00 low. But when we finished the negotiatioins the seller only came off his price by $400.00 because we proved he was the best DEAL to they buyer and his agent. Any questions, I can be reached at 817 980-1047
Web Reference:  http://debbiescrimshire.com
0 votes
Ronda Allen, Agent, Plano, TX
Tue May 4, 2010
I pulled it up in the MLS and I do agree with Naima -
de-clutter
neutralize
re-shoot
I can see three home maintenance chores that need to be done in order to make your home sell-ready without objections. You have an agent. Ask what those might be. They can see them, too.

Review the marketing strategy with your agent. Know where your home is found on the internet. Open up to the idea of open houses. They work a lot better in DFW now than they did before the recession. The more lines you have in the water, the more opportunities to catch a fish. Selling a home is very much like fishing. See if there are some more avenues that can be explored.

Start with the above, and if you still aren't driving showings, then you'll know it is most certainly your pricing.
No neighborhood is an island. Buyers search the community for a home. You have to be the better overall value as they make their tours. Who plans their tours? Most times, the agents. Wow them with the above, and you should be included in the home tours. You just have to be 'worth a look'. You are being skipped, and there is always a reason. Be your own critic.

Have a blessed day!
Ronda
0 votes
Pelin Guzel, Agent, Dallas, TX
Sun May 2, 2010
Hi Lori,
Talk with your Realtor, lower your price, clean up the home and you will get a buyer. Make sure that you have good pictures of your home on the internet and MLS. Here is a good information for staging your home for sale http://www.dallashomelist.com/home-staging-tips.html
Good Luck,
Pelin
http://www.dallashomelist.com
0 votes
Michael Russ…, , 75006
Sat May 1, 2010
Hits are a neat tool but not reliable. Showings are very reliable and actual offers are best. The fact that you have no showings is in fact worriesome. If I were you I'd review the marketing plan with your agent(I'm asumming you have one), try an all out open house with cookies baking, balloons, color flyers, are u in the star telegram? As everyone has alluded to; if your price is right the buyers will come looking. Then it's just a matter of condition. Best of luck, Lori
0 votes
Alma Kee, Agent, Tampa, FL
Sat May 1, 2010
Dear Lori,

You may want to pay $350 to a well experience appraiser (10 years experience or more) to help you correct your asking price.

Some Realtors may suggest a price too high to "buy" the listing. I'm not saying that is definitely what happened to you but you may need a "reality check". Pay the $350 then you will not price too low and lose thousands needlessly and also not overprice and sit on the market with decling prices.

You already missed the rush of First Time Homebuyers. You may want to lobby your Congresswomen to get the program back so you can more easily find a buyer.
0 votes
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