The domino effect!
So here we sit, on the market for 10 weeks. Showing have been picking up but not like it used to be years ago when I have had homes on the market. I get two different kinds of feedback. One is "this house is not for us" as it is a ranch and way too many people in New England want the typical big New England colonial, and the other is "Wow, I just love it and it is my first choice". The problem with ALL of those people who love the house is they either have something on the market that is not selling or they will be putting their home on the market. So here we sit in limbo land. We have had a few "off the cuff" offers, none in writing, and they have been low. We had an offer from someone who has not put their home on the market yet and wanted to get a feel of what we might accept if they did put their home on the market (!!???). And we also had an offer from a couple who were looking way out their price range and were hoping we would just give the house to them.
So now we still are here, sitting patiently waiting for the homes below ours to start taking deposits so things can start moving at our range.
I check Listing Book daily and can actually see the homes in the $300K and $400K range taking deposits, and there have been many of them, but beyond that range, high $400's to over One Million, very, very little is happening. There are more homes in those price ranges that are coming on daily and interestingly enough, most initial asking prices are more realistic than what homes have been originally been listed for. The homes that had been listed higher have dropped their prices to adjust for the market, and a few have sold. Some of those were short sales or distressed properties that needed a lot of work.
Hopefully the market will start to work it's way up and things will start moving again. I need to stay positive!