Quote:
Originally Posted by 1stLand
Our office is seeing sales pick up.
If a property is priced right and is in a popular area, it is gone.
|
I bought in Sept in a neighbourhood with very little movement (average less than 2 a month since May; and I still think I overpayed) where the house we bought was 120 DOM and we hacked the list price quite significantly. We bid on one other house where the sellers weren't interested in moving at all on price (house is listed at the price they paid in 2007, yeah good luck getting that back) and it's still for sale. They delisted it and relisted and it's coming on 290 DOM. The house next door listed at market value, sold in two days; so did two other houses in the neighbourhood in the last two months. There's 5 or 6 (out of 10ish) listings that have been on market for 100+ days, all massively overpriced. Guess they're not interested in selling.
The lesson: list competitively and your house will sell. Overprice, and you're wasting your, your realtor's, and any prospective buyers' time.