The house seller x post.

palimpsestFebruary 24, 2011

So, in general, properties in my neighborhood are sitting for 6-9 months on the market, many longer.

Last year, I looked at a few houses I was interested in. One had an offer put on it by the person who was walking in as we were leaving. Another got an offer soon after we looked, and when we had lost interest came back on the market. Then I made a contingency offer on a house that they took because there had been no interest in six months. My offer was accepted and then another offer came in, which they were free to take, and did.

In the last several weeks, houses have come on the market that I have wondered about for a long time. I called about one the Day the sign went up. It had an offer on it the next day. I looked at another house and made an offer on it. It was one of FOUR, one of which was all cash, one of which was for over asking price. This was not a move in ready house, nor was it cheap. There was a third that came on the market on Monday, and I was going to look at it this weekend. Sold.

I had no expectations of being able to offer on it, I just wanted to Look at it.

So two of the three I didn't even get a chance to LOOK at. This is 2011, not 2006. Houses are NOT selling in days. Unless I am interested.

The realtor for one of them asked me to PLEASE look at all her properties because they will immediately sell to someone else, No matter the condition.

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kats_meow

I don't guess you want to travel to my area....

    Bookmark   February 24, 2011 at 11:02PM
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chrisk327

maybe this is correct, or maybe not...
but in my area ther eare plenty of houses sitting on the market for monthes on end. there are a lot that sell in a week or two. the aveage DOM is somewhere in between, but thats not really a picture of the market.

bassically when something is priced right, in good shape, it seems to move pretty quick. if there is some major quirk to the house, its in terrible shape and not priced dirt cheap, or its overpriced for the decent condition its in, it will sit.

it sounds like you're interested in the priced right houses that hit home to a number of people

also its weird, when I sold my house we did drop our price about 20k in the last bit, which was about 5%. that pricedrop for some reason brought 3 offers and a lot of lookers in a short period of time. sometimes a house just hits the "right" price and there you go.

FWIW, my house went for what i consider a very low price for what it was, but my was had a quirk. the buyers don't really know how good a deal they got and how nice some of the materials that went into the house are.

    Bookmark   February 25, 2011 at 3:40PM
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