Posted by Wayne-NC on March 31, 2004 at 11:25:53:
Sellers have been spoiled in a hot market where properties sell in 9 days! A 90 day MLS listing will make people think that there is something wrong when it is just a matter of price and timing in most cases. Keep an eye on the average DOM.
Hey Doug Pretorius! - Posted by Space Available
Posted by Space Available on March 30, 2004 at 21:02:31:
Doug, are you experiencing any marketing slow down i.e. extended marketing time, general drop-off in T/B quality, relaxation of terms to meet competition in your area etc.?
Re: Hey Doug Pretorius! - Posted by Doug Pretorius
Posted by Doug Pretorius on March 30, 2004 at 22:02:39:
Nope, none of the above. Keep in mind that I have almost no competition here, only one professional, and the odd do-it-yourselfer.
I think you have one thing backwards though … when the market slows down, the quality of T/Bs should go UP, not down, since fewer people want traditional purchases.
I have noticed that houses on the MLS seem to be sitting longer. Some have been listed all winter (overpriced), and there’s a noticable move towards reducing prices if the house doesn’t sell in a few weeks.