Should you list your home during the holidays? Real Story…

There are 2 themes in the real estate market right now:

1) Don’t list your home during the holiday’s. There are less buyers and less activity.

2) The real estate market is slowing down and people are dropping prices.

This is a story of the past weekend in Orange County, California….

Clients decided to list the home now in an effort to sell the home sooner than later. They had concern that the market was slowing down and that there wouldn’t be much demand. They also wondered if they should make improvements to the property to make it more presentable or not (paint, flooring, etc.). We spoke about this at length and I suggested an “asking price” that if they were to get this amount, would it be good enough for them without having to put any money into the property. They agreed to move forward with putting the property on the market as-is.

The house was put on the market on Thursday, we hand dropped 100 open house flyers in the neighborhood on Friday and held a 1 day open house on Saturday. RESULTS – 85+ groups of people through the open house, of which 19 were buyers with agents, 12 were buyers without an agent and the rest I am not sure because I wasn’t able to speak with everyone to find out. 20 written offers with 7 of them being 12.5% OVER ASKING (this is relative as the property was based on its current condition and no repairs or termite….property needs at least $50-$100k on day 1. 4 offers were 15.6% over asking. This property will be the highest priced sale in this neighborhood….regardless of the fact it needs paint and new flooring throughout. Sales price will be mid $900,000’s.

submitted by /u/dpatstr
[link] [comments]

There are 2 themes in the real estate market right now: 1) Don’t list your home during the holiday’s. There are less buyers and less activity. 2) The real estate market is slowing down and people are dropping prices. This is a story of the past weekend in Orange County, California…. Clients decided to list the home now in an effort to sell the home sooner than later. They had concern that the market was slowing down and that there wouldn’t be much demand. They also wondered if they should make improvements to the property to make it more presentable or not (paint, flooring, etc.). We spoke about this at length and I suggested an “asking price” that if they were to get this amount, would it be good enough for them without having to put any money into the property. They agreed to move forward with putting the property on the market as-is. The house was put on the market on Thursday, we hand dropped 100 open house flyers in the neighborhood on Friday and held a 1 day open house on Saturday. RESULTS – 85+ groups of people through the open house, of which 19 were buyers with agents, 12 were buyers without an agent and the rest I am not sure because I wasn’t able to speak with everyone to find out. 20 written offers with 7 of them being 12.5% OVER ASKING (this is relative as the property was based on its current condition and no repairs or termite….property needs at least $50-$100k on day 1. 4 offers were 15.6% over asking. This property will be the highest priced sale in this neighborhood….regardless of the fact it needs paint and new flooring throughout. Sales price will be mid $900,000’s. submitted by /u/dpatstr [link] [comments]

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