How long was your home on the market before it sold?

[Sadie22]

The only open houses held at our property were for realtors only. Realtors told us open houses for the public got them other listings but did not sell the house where the open house was held, so they stopped holding them. Open houses tie up time realtors could be showing houses that potential buyers have decided they want to see based on Internet listings.

How fast a property sells depends on the condition of the property, whether someone whose needs are met by that property learns it is for sale, actually visits that property and makes an offer, and whether the seller accepts any of the offers made. Good photos and description of the property on the Internet make a big difference.

 

[powellrj]

I sold my parents condo last year in 10 days. I asked friends to refer their realtors and found mine that way. There were lots of condos for sale where my parents live and many had been on the market for over a year.

I took her advice and listed low and had a bidding war and got more than not only my asking price, but more than I expected.

 

[GaSleepingBeautyFan]

The house down the street just sold for full listing price after a month. The previous homeowner moved and had it completely remodeled inside - upgraded kitchens and bathrooms, all carpets replaced with laminate, polybutylene pipes replaced, outside repainted. I was surprised at how much they did on it.

We are in a area with great schools and most houses sell quickly as long as they are in good shape.

Oh and they didn't do a for the public open house but did do a realtor only open house - I saw vans full of real estate agents touring it.
Plus they walked the neighborhood afterwards - I was outside for a bit and had several ask me if we were interested in selling.

 

[Darcy03231]

We sold our home in July 2014. My advice to you is to know your market. I watched sales in our neighborhood for two years before we went on the market and knew what was selling and for how much and what the condition of the properties were. We were lucky and lived in a small pocket of the city that had the elementary, middle and high schools that everyone wanted.

While most advice is to not do major improvements to your home before selling, that didn't work in our neighborhood. Before listing we redid the kitchen (cabinets, counters, lighting & hardware - we had already done the floors several years earlier) and 2 bathrooms (gutted to the studs and new plumbing). 4 years before we went on the market we did siding, windows, roof and deck. We listed at $40,000 over what the realtors were telling us and sold in less than 48 hours for 98% of list price. A comparable house in that neighborhood without the improvements (pretty much the way it was in 1972 when it was built) went on the market right before we did. It's still on the market and right now is listed at almost $150,000 less than what we sold for. In our case it was definitely the right move to do the improvements as we sold quickly and at a premium price. We more than doubled what the improvements cost us.

 

[Monykalyn]

We sold our home in July 2014. My advice to you is to know your market. I watched sales in our neighborhood for two years before we went on the market and knew what was selling and for how much and what the condition of the properties were. We were lucky and lived in a small pocket of the city that had the elementary, middle and high schools that everyone wanted.

While most advice is to not do major improvements to your home before selling, that didn't work in our neighborhood. Before listing we redid the kitchen (cabinets, counters, lighting & hardware - we had already done the floors several years earlier) and 2 bathrooms (gutted to the studs and new plumbing). 4 years before we went on the market we did siding, windows, roof and deck. We listed at $40,000 over what the realtors were telling us and sold in less than 48 hours for 98% of list price. A comparable house in that neighborhood without the improvements (pretty much the way it was in 1972 when it was built) went on the market right before we did. It's still on the market and right now is listed at almost $150,000 less than what we sold for. In our case it was definitely the right move to do the improvements as we sold quickly and at a premium price. We more than doubled what the improvements cost us.

You did very smart improvements! We did something similar 12 years ago when we moved to AR-bought a builders basic spec house-last 1 of 2 to be sold but had been sitting on market for >6 months (was a very family oriented neighborhood so scared off empty nesters and those with no kids-we fit in perfectly)-gave us the deal of price below market value. We put in crown molding, updated lighting, painting, flooring throughout lower level and landscaping, closet organizer systems etc. 5 years later sold in a supposedly down market (although our area only saw a <2% decrease) with a competitive price at over asking (multiple offers) within 21 days.
In SW MO now and houses in our neighborhood are on market less than a week. We bought a builders foreclosure and a similar home 2 streets over is under contract now for nearly 100K more than what we bought our house for (been here 6 years now). Friends of ours were looking at the house but before they could even get in for a look (saw it off MLS) it went under contract.

Realtors who know the area are a MUST-and listen to what they tell you what to list for and compare comps.

 

[ktlm]

There are so many factors. Area is one, but another big one is how many houses are for sale in your area? In terms of the houses for sale, is yours comparable in terms of updating or have the others been significantly updated while yours has not been updated? Is there something about your house that is going to be an issue for buyers-- is the floor plan strange or non-functional in some way- does it need a lot of work in some area- are the closets small, does it have a 2 car garage where all the other houses on your street have 3 car garages. Pricing is huge. We have a very nice house in our neighborhood which has sat for sale for months because the price they are asking for it is ridiculous and they will not come down. How is the economy in your area? How is the school system in your area? Another thing is often timing. We were told when we were looking for a house that there is a lot more activity both in buying and selling in the spring and early summer, because people with kids like to move out and in during the summer so that kids are in place at the start of the school year. More houses get listed and sold during that time period around here

Around us, some houses sell before they are even published as being on the market and others sit for a lengthy period of time.
Open houses are big around us. I know several friends who bought houses after seeing them through an open house. We actually bought our current house after seeing it as an open house.

Unless you have a reason that you do not want people to know that you are moving, I would put the word out right now through friends and acquaintances that your house is going to be for sale and to let you know if they know anyone who is looking in your area or to send those people to you. We sold our last house without ever putting it on the market. We kept it as a rental when we moved because we had a friend interested in renting it when we bought the new house. When that tenant was ready to move out we were debating whether to rent or sell it, when an acquaintance advised that he had heard I was deciding what to do with the house and wanted to know if I would consider selling it to him instead of renting it as he had been looking for a house in that specific neighborhood. I named my price and let him take a look at it, and he accepted. Done deal. It was so very easy. My friend that lives down the street did the same thing. She and her DH put the word out to friends and neighbors that they were going to be selling their house, and wound up showing it to a few people who had been told that the house was going to be on the market soon. They had to show it themselves a few times, but sure enough, it sold to the 3rd or 4th people that heard about it through the friend/acquaintance network. I have another friend who sold her house a couple of months ago by posting on facebook that she was selling with a picture of her house and the specs and asking her friends to let her know if they or anyone else was interested. I don't know if I would do that, but it sure worked for her. Her house sold within a week of her post.

 

[NewRVLady]

I like the idea of open houses, probably not happening where I live currently. Did you guys ask the realtor any questions? I have never sold a house before. We have lived in ours for 17 almost 18 years now.

I don't know if you watch any house buying shows on HGTV.....

spruce it up
get rid of clutter-even if it means cram the attic
get rid of personal photos etc

I know the reason the Townhouse my son bought was on market so long-she had big words and sayings PAINTED on all the walls ( well we thought it was painted-ended up being STICKERS-SO relieved!)

 

[vaDisneyGuy]

Our house in Ca sold in a week last year and we got $25,000 over asking price.

 

[book_junkie]

We "sold" our house in the DFW area in a weekend in the middle of October 2015. It went on the market on a Thursday, we had a full price offer on Friday, and signed a contract on Monday. We closed right after Thanksgiving, and handed over the keys in early December.

That being said, our house was an older house in an older neighborhood, and we hadn't done big upgrades to it, so we did our research and priced it aggressively. We interviewed 3-5 different realtors before settling on one, and knew what we could and couldn't take on with getting the house ready for sale. We also knew what number we wanted for the house- we didn't have to sell.

We also did the basics to make the house staged- repainted inside and out, resodded the lawn and landscaped, updated the outdated oven and put almost all of our things in storage. We didn't do open houses, we did scheduled showings, and uber staged the house before we left- new bedding and towels, sparkling clean, new welcome mat, no trace of the dog, etc.

Our neighbors thought we were nuts pricing it the way we did as other houses were $20k or more for sale in the neighborhood. But ours didn't have their upgrades, and we weren't going to gut the kitchen or bathroom because we would just break even. And when we sold the house and those houses are *still* for sale today, I'm confident we did the right thing.

I think the best things we did were know our numbers and comps, know what we could and could not do repair wise, and not take anything personally- it's a business transaction, not a judgement on your taste and lifestyle.

 

[mrsabbott]

We are planning on selling our house in the next couple of years. This is an informative thread to read.. Our house needs some upgrading. Nothing major, mostly cosmetic. We live in a decent area, near the end of a cul de sac (which was a big selling point for us since we have young kids who love to ride bikes.. no busy through traffic), decent schools, quiet.. Unfortunately, the market has slowed way down. There was a sort of boom when we first moved here because we are near an Army post and a large Battalion moved there, bringing thousands of soldiers and their families with them. Houses were selling/renting fast.. new homes were being built, new apartment complexes, new businesses.. and then the Battalion left and now lots of homes are sitting empty and for sale.

I'm already thinking about the improvements we will need to make on our home in order to make it more desirable when it comes time to sell!

 

[Kenny1113]

My in laws recently sold there house, had an offer which they accepted two days after listing it. My neighbor accepted an offer the day it was listed.

 

[katie111]

We've sold 5 houses and all of them have sold in less than a week for full asking price or more. I think there is some great advice above. Make sure the house is clean and well maintained. Make sure all of your paints are touched up. I would not repaint everything a neutral color but I would repaint anything that is a strange or very bold color choice. Have friends over (the ones with good taste & a sense of decorating style) & ask them honestly what they think you need to do. Replace old ugly curtains, especially shower curtains, & bedding. If a friend or realtor tells you something is ugly, then it probably is. Remove clutter. All of the clutter! Nobody wants to see your collection of ceramic clowns or Disney memorabilia. Refresh area rugs and have any wall to wall carpet cleaned. Clean out all of your closets.

Have at least 3 realtors in & ask them their opinions on what you need to do to sell. You will get 3 different lists and then it will be up to you to figure out which projects you want to tackle. Any items that overlap on all 3 lists should definitely be addressed or your house probably won't sell. Find out the realtors marketing plans. Find out what they have sold in your area & how long it took to sell. Remember that the price of your house is based on the buyers market, not on what you "need" to get for the house. Good luck!

 

[DisneyMandC]

Agreed that it all depends on your area, but we just purchased our first home. Listing went online on a Wednesday, we viewed the house on Saturday (first available day to see it) and put an offer in that day. Seller accepted the next day after some light negotiations.

 

[Wade E]

As a real estate broker I will say the area open houses and anything else you hear has no bearing on how quickly your home will sell. In any market or area houses sell. It solely depends on one thing PRICE! Listen to and get quotes and comparables from a few agents before listing your home. You may think that's not enough money but agents are in this business to SELL houses not let them sit on the market and they want to get as much as they can so their commission is more. That said there is no possible way to under price your house today if it's underpriced you will start a bidding war amongst buyers and create almost an auction atmosphere typically selling higher than actual market value. Buyers have the same info available to them that brokers and agents do today and in a lot of cases are more familiar with sales in a particular area than the agents because their sole focus is on that area and any good agent is looking at many areas.

 

[redsonja76]

Tampa florida at the height of the market: 12 hours No marketing necessary as inventory was low and demand was high
San Antonio in 2005 (a very steady market): 6 days. Our agent paid for a stager to set our house up. Honestly when she was done I didn't want to sell lol, but we were moving to Germany. She was very smart. She said "the curb appeal gets them in the door, the staging gets them excited, and the backyard sells the house". We followed that advice and it worked perfectly. We referred her to three more military families and she sold their houses similarly in less than 2 weeks each time when the market standard at the time was 3-6 months. She also priced slightly below market value (no more than $1000 below) to get people in the door.

We had excellent realtors both times.

 

[Bree]

Never put the sale of your home on a time line. We listed our house in central MA in May 2014. It went under contract September 2014 and we closed October 2014. We had to pay two mortgages July, August & September.

The house we bought here in southeast FL was on the market for two days when we made our offer. The house next door to me sold in one day last fall. We are in a highly sought after area in our town which has very little inventory. Homes that have been somewhat updated and do not back to a busy road sell within days and usually end up in bidding wars. There are two very nice houses in my neighborhood that have been on the market forever. Once backs to a busy road and the other is priced at least $50K too high.

 

[unrequited23]

We sold our condo last May in 26 days for $500 below asking in a market where the average unit was on the market for 6 months. I have no idea if this is true or not, but I've heard that 10% of realtors do
90% of the business. We chose our realtor based on the recommendation of a friend--she couldn't believe her home sold in a month!

 

[Iowajes]

I think the #1 thing you need to market your home is good photos. You won't sell your house with an online listing, but a lot of potential buyers will cross you off the list without even visiting if the pictures are bad. Most people don't have a ton of time to go look at houses so they decide which ones to see based on online listings alone. I know we eliminated houses from our search just because they looked ugly online.

My house wasn't ever on the market when we sold it (we rented first and sold to the tenants)- but we had 26 tenant applications within 5 hours of listing on craigslist. It was the photos well more than the price, as we were on the high side of the rental market price.

 

[SandyinMonterey]

We are about to put our house on the market, hopefully by early April. Properties in my area range anywhere between being sold before they ever hit the market to months. We had four realtors come to the house, I know they say three but we kept getting a higher price point for our house which we couldn't imagine to be correct. It's said realtors should be pretty close to one another when giving price, about $10,000 or so. We had as much as a $70,000 plus difference! Which made the process all that more confusing. I do know I'm not going with the one who gave the highest price to list at. At the end of the day, I want it priced right and to sell fast, so my husband and I will make the final decision as to what to list at. I think that's key. Don't over price a home. Then you start into price deductions and then people start wondering "what's wrong with your house."

 

[kool_kat]

My house has been on the market since October...In my area the market died right at that point through the end of the year. Things started to pick up in January and we pulled it at the end of January to regroup. We just put it back up Monday so hoping it goes quicker.