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Asked by ETF, Fairfax County, VA Tue May 5, 2009

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Answers

11
Lauryn Eadie, Agent, Reston, VA
Tue May 5, 2009
BEST ANSWER
I always tell my clients that if you do not receive an offer withing the first 21 days that you are priced to high! no matter the market...there are buyers out there, and if you are priced correctly you should have an offer quickly. The longer you sit on the market the less likely you are to receive an offer close to list price. You can never be priced to low because you will then draw multiple offers and you will be more likely to drive the price upwards to the market value. For example, a home recently came on the market at 399,000 and within 48 hours there were 12 offers and the highest offer price was in the 420's....this happened this past weekend in Fairfax County...the house was priced below market value and the competition corrected to the right price....

GOOD LUCK!
1 vote
Lilo Clacher, Agent, Cape Coral, FL
Tue May 5, 2009
Hi!
Ask your Realtor if the home is staged right. Sometimes it just takes a couple of changes to make a big difference. Maybe some paint ( a very inexpensive solution} or just rearranging your furniture will give your place a whole new look.
Good luck on your sale
Lilo
Web Reference:  http://www.LiloRealtor.com
1 vote
Andrew B Sine…, , Point Pleasant Beach, NJ
Tue May 5, 2009
I have been Listing and selling Real Estate for over 25 years. If your home is priced correectly it should sell in the first 30 days, even in this market. Buyers buy by comparaison, if the home is a perceived value it will sell quickly. You should consider a price improvement after 30 days. Have your agent give you updated comps. Make sure the comps are from the last three months. Review all the feed back you received and review the comps and set your price. I hope this helps. If you have any additional questions please feel free to call or e-mail me. My cell is 732-232-4724

Andrew B Sine (BRAD)
Weichert Realtors
1 vote
Colin Storm, Agent, Falls Church, VA
Tue May 5, 2009
Have you seen enough similar homes nearby sell within two weeks that you should expect yours to sell within that time frame? Two weeks is not typically cause for concern.

That said, if you are getting that kind of traffic but no offers the most likely hang up is price. Priced fairly, and priced well are not necessarily the same. Generally speaking homes with solid updates and priced slightly ahead of the market are selling almost immediately. That is not true absolutely everywhere necessarily, and also depends on price point. Homes over $700k are selling much more slowly than homes under.

Not an exhaustive answer, but hope there is some graim of help there.
1 vote
Glenda Cherry, Agent, Herndon, VA
Tue May 5, 2009
While feedback from other agents is somewhat useful, feedback from potential buyers is what you really need. Has your agent been following up with the agents who have shown your home to find out why their clients aren't making offers? If the potential buyers like everything about the house except the price, I think you have your answer.
Web Reference:  http://www.GlendaCherry.com
1 vote
Bill Eckler, Agent, Venice, FL
Wed May 6, 2009
NOW...........

Plenty of showings....no interest, lower the price.

If the appeal and desirability of the home is there and offers are not following......the logical response should be to make a price adjustment.

Don't wait!
0 votes
Geri Sonkin, Agent, Merrick, NY
Wed May 6, 2009
Real estate is very local so it's hard to speak about a specific market other than one's own. However, I generally tell my sellers if we are getting showings and no offers come in over a period of two to four weeks, we probably need to make a price adjustment. If there are no or few showings our price is off by more than a little. You might want to ask your agent what the typical days on the market is in your area right now. That would tell whether or not this is the time to consider a reduction or whether you should wait awhile longer. I would also be interested to know whether there have been any re-shows.
0 votes
Keith Sorem, Agent, Glendale, CA
Tue May 5, 2009
ETF
Normal rule of thumb is 10-12 showings or one offer within two weeks or reduce the price. The market is talking to you, the question is...who is listening?
0 votes
Abdullah Al-…, , Alexandria, VA
Tue May 5, 2009
If there is not reason for a buyer to purchase your home today, then there's not rush. Each buyer has a reason that they purchased their last home. There has to be something about your home that is valuable enough for him to buy it today. Examples:

" They fell in love with the kitchen"
" It had the backyard they were looking for"

Sellers spend a lot on landscaping, kitchen, and bathrooms for these reasons. If you're in the neighborhood the buyers want to live in and the home is priced well then you should be getting interest "Activity at the Open Houses, etc"

Work on those things. Make sure your home doesn't look lived in. When you buy a house you want to picture yourself in the home. Simple stuff

Let's be clear on one thing. Everybody wants to sell their home today. There's a big difference between having to sell and wanting to sell. If you don't sell you home today, what's the consequence? If it's nothing, I'll just see what happens tomorrow, then you want to sell. So that means you can't wait to see if the fish bite.

You can see from everybody's comments that price is the easiest way to sell your home. It's the easiest solution than figuring out "how to make your front yard look more appealing"

Forget it, I don't think you guys understand anything I'm saying.
0 votes
Lauryn Eadie, Agent, Reston, VA
Tue May 5, 2009
im not sure I understand the last comment, but my point isn't to compete for the lowest price....my point is that the lower you are, in respect to market value...the more competition there will be, the more competition for your home the better price you will end up getting in the long run. Obviously any home can sell at a rock bottom price, to get the best price for your home you should list 5-10% below market value for the quickest and strongest offer.
0 votes
Abdullah Al-…, , Alexandria, VA
Tue May 5, 2009
Let's say you are buying home, listening to all the reports, and taking in all the options, why must you put a contract on your home today?
0 votes
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