November 13, 2009

Selling in a Bad Market

Our Realtors came over earlier in the week to discuss a new selling strategy. The WTown house has been on the market since June and unfortunately we still own it.

Pete and I have talked for hours about all of our options regarding what we want to do about getting this house sold. It is well known that winter is notoriously bad time to sell a house. The buyers are few and far between, with most people choosing to stay put through the holiday season and dreary winter months. Early spring is when buyers start to look again, focusing on closing during the late spring/summer so children can finish out the school year.

Do we keep our house on the market through the winter? Out goal after all, is to sell and ones house must be FOR SALE in order for that to happen. But do we hold out hope for the rare winter buyer? Or do we re-list in the spring so the house can get a fresh and clean appearance on the MLS hot sheet?

I've already seen a lot of homes in my town go off the market because of the impending slow season. Which is fine by me, because I'd rather be in a smaller sales pool where the house has a better chance of standing out. We learned that pulling your house off the market and then re listing in the spring does not reset the dreaded days on market count. I wonder if these people think that four months off will bring the counter back to zero. That Days on Market counter scares me, I don't want to be that house with the high number, cause then I think it scares buyers too.

After talking about all our options with our Realtors, we decided to keep the house on the market through the winter and in two weeks we're going to do (ANOTHER) major price drop. Two weeks because that will put us right past Thanksgiving and we'll have decorated the house for the holidays. Our house always feels really cozy and nice during the holiday season, so we think that it can only help if we manage get any showings.

So, There is our plan. Hopefully it works! and fingers crossed that we don't have to come up with a new one.

1 comment:

  1. Good luck. I can't imagine trying to unload your home in this market. I'm sure you want to pull your hair out sometimes, but be encouraged. You're just waiting for that one special buyer!