What's going on?

Asked by iSell, Tenafly, NJ Sun Aug 5, 2012

Okay, I tweaked my price to the level of discomfort, and I painted and polished up as good as it's gonna get - to make my home show well -and sell! What's going on? Show me the buyers! Where the heck are they? (It's like Twlight Zone -where no one is left on earth!) It's too quiet. Surely someone is looking for a home? (Will it pick up in September?) Is everyone away (except me?) Maybe the problem is that I listed late (late June.) I guess I will have to list again in March? Does it pay to stay listed for the winter (just in case?) What to do???

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Jay Shapiro, Agent, Tenafly, NJ
Sat Sep 1, 2012
Dear iSell,

I understand your frustration, but the answers to your questions lie in the specific market for your home. For example, where is your home priced? Is it between $250 - $500; $500 - $750; $750 - $1MM, etc.

When people ask me, "How's the market?" I have to know which one they mean. Are you targeting investors, end-users, first-time home buyers, etc? Each one is somewhat different.

For example, for Single Family Homes in Tenafly priced from $250 - $500K, there has been a 55% increase YoY in sales, but a 4% decline in prices YoY. In homes priced from $500 - $750K, there hasn't been any change YoY in sales, but there has been a 5% increase in prices YoY.

The opportunities to sell exist all year and having your home actively on the market is the right thing to do.

The Realtor(r) Code of Ethics prevents Realtors(r) from interfering with the clients of other brokers so any one of us who responds to your questions has to speak in general terms. I'd suggest asking your broker for an updated Market Analysis and get an idea of what they are doing to market your home for you.

Best regards,

0 votes
Abu Musa, Agent, New York, NY
Mon Aug 6, 2012
In real estate right price and marketing is the best tools to quick sell. You may consider your strategy. Good luck.
0 votes
Laquita Baez, , New Jersey
Mon Aug 6, 2012
I can sense your urgency with wanting to get your home sold.
Selling a home at times takes more than just 'listing' your home in the Mls.
What other actions is your agent doing to draw attention to your home?
Remember, if one sale method is not working, then try another.
Don't just focus on the 'hottest' selling months, as homes are sold all year round. Make sure you and your agent is doing all you can to draw activity to your home.

Laquita Baez
Licensed Realtor in NJ and GA
0 votes
Tim Page, , 99037
Sun Aug 5, 2012
Ask your Realtor to show you all of the listings within 1 mile from your home. You may just want to be sitting down. Now find all of the listings that offer similar amenities to your home. You might want to site down for this too. Next, ask your realtor what they are doing to sell your home??
0 votes
Debra (Debbi…, Agent, Livingston, NJ
Sun Aug 5, 2012
I am not away, but I was!
Have no fear - you're not alone, and I feel your pain!!

The market does tend to get quiet in August.......unless someone is strongly motivated to buy, they are off somewhere nice on weekends rather than looking at homes.

And yes, you did miss the "height" of the market activity by listing in June, rather than Feb., March or April.........

That being said.........is anything in your immediate area selling now??
Is anything in your price range selling in Tenafly?

What does your agent say about the amount of traffic OTHER homes are experiencing?
You DO have an agent, don't you???

Does it pay to stay listed?
I think it does.............

Best wishes....and even though it is painful, when all else fails.....know that price trumps everything .

Good luck!
0 votes
She says the economy is bad and therefore people aren't looking in the 1.5 price range. Not many are selling now, it's true. But I have an empty nest and I am paying on a home that I no longer need.
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