We had a bunch of activity and showings in the late summer and fall but none in the last several weeks. I'm wondering if between the current housing market and the crummy Chicago winter (12" snow today!) it might be better to pull it now and relist it in Feb/Mar. Does that set off any flags in MLS that might scare away potential buyers or their agents? Or is that better than having a house next spring that's been on the market for 8 months straight?
Look forward to any advice!
2006-12-01 01:42:06 · 5 answers · asked by geopav 1 in Business & Finance ➔ Renting & Real Estate
When a house is listed with an agent, it has a history. If you remove it, and place it back up with another one, the new agent will know it was on the market already, and it does look bad to potential buyers that the house didn't sell the first time. They'll wonder if there was a problem with the house, if it was over priced, if there is damage, etc.
With it being winter, though, it might be best to take the house off the market. Typically, people prefer to move in good weather. You might also consider doing some minor changes to the yard, landscaping, painting, and interior decore in the mean time.
Updating the look, or making some of it look more neutral (removing wallpaper, repainting a brightly colored room to a beige or white, taking out dated looking fixtures such as lights, carpet, counters, etc). If you can get it updated, it might get a better receiving at future open houses.
2006-12-01 01:50:31 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I don't know about any problems that this would cause with MLS, but typically if a house just "sits" on the market, THAT creates red flags galore.
I would personally take it off the market completely, especially since the overall market is losing steam right now. I'd then relist when the market starts to pick up, which is typically March / April, depending on how the weather is! If interest rates drop, your sale may get a welcome boost.
I wouldn't worry that prices are dropping right now; the price drop is very marginal and there is considerable opinion that there will be a boost to the housing market again in 2007.
2006-12-01 02:19:34 · answer #2 · answered by Anonymous · 0⤊ 0⤋
The problem with most realtors is that they dont inform sellers of the market conditions when they list the home. If you have a few homes in your area
for sale its not a good sign. The realtor should have told you and showed you the market time of the homes in your area before listing it, if he failed to do that he was not a good agent to sell your home. I was a gent for several years and I lost many listing because sellers don't want to hear the truth about market conditions. If you keep it listed have some buye conditions such you paying closing cost and or cash at closing, also consider rent with option, lease option etc..If you can don't lower the price to much or the buying public will know you are eager to sell and they will low ball you again..The MLS has a huge database and buyers agent will tell client that your home has been listed for 300 days and will convince them to lowball you..I live in the Chicago area and unless you are in Beverly , Lincoln Park or another hot area I would consider taking it off the market for now
2006-12-01 01:58:51 · answer #3 · answered by Ezra J 1 · 0⤊ 0⤋
We had a house in the Minneapolis area for sale for a year with less and less interest as it was on the market longer. We took it off the market for a day so it would be considered a new listing again and it sold in a couple months. So it might work to do that or wait until spring too.
2006-12-01 01:45:28 · answer #4 · answered by Mom of Three 6 · 0⤊ 0⤋
Everyone is saying right now that if you do not have to put your house on the market, don't.
The market is so low right now that you will take too much of a loss.
Speculation is to wait two years.
2006-12-01 01:54:09 · answer #5 · answered by Anonymous · 0⤊ 0⤋