<p>Do you know if that house was appropriately priced, VH? What is the condition? Have they scheduled an open house where you can go peek?</p>
<p>Wrapping up my first week on the market. Not an action, no showing, a few calls… Worked my self silly to get it ready -feel like I’m ready for a party and no one showed! Market is slow here, I was warned. I know its early yet, just tired…</p>
<p>maybe should have posted on the “get it off your chest” thread!</p>
<p>“Things are moving verrrrrrrry slowly here.” </p>
<p>VH, I’m surprised to hear that as I’ve heard the market has really picked up in the Westchester County town my sister lives in. </p>
<p>My realtor friend told me today she has sold every house she had listed. Most aren’t even on the market two weeks now. </p>
<p>I even have a friend who is going to put her house on as a FSBO she is so optimistic.</p>
<p>So much depends on the amount of INVENTORY in any given area.</p>
<p>Well, we’ll see. I scour the list of houses that have actually sold in my town, and there aren’t many of them. I also scour the listings of those for sale and see that many many houses reduce their price after two or so months on the market. </p>
<p>So, we’ll see.</p>
<p>VH, I think you have done your homework and if you price wisely, you will succeed.</p>
<p>Artlovers, thanks. Fingers crossed.</p>
<p>Here is the verdict from NAR</p>
<p>Pending home sales increased in March and are well above a year ago, another signal the housing market is recovering, according to the National Association of REALTORS®.</p>
<p>The Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 4.1 percent to 101.4 in March from an upwardly revised 97.4 in February and is 12.8 percent above March 2011 when it was 89.9. The data reflects contracts but not closings.</p>
<p>The index is now at the highest level since April 2010 when it reached 111.3.</p>
<p>Lawrence Yun, NAR chief economist, said 2012 is expected to be a year of recovery for housing. “First quarter sales closings were the highest first quarter sales in five years. The latest contract signing activity suggests the second quarter will be equally good,” he said. </p>
<p>“The housing market has clearly turned the corner. Rising sales are bringing down inventory and creating much more balanced conditions around the county, which means home prices will be rising in more areas as the year progresses,” Yun said.</p>
<p>Pending Home Sales Index by Region: </p>
<p>Northeast: slipped 0.8 percent to 78.2 in March but is 21.1 percent above March 2011. </p>
<p>Midwest: declined 0.9 percent to 93.3 but is 16.9 percent higher than a year ago. </p>
<p>South: rose 5.9 percent to an index of 114.1 in March and are 10.6 percent above March 2011. </p>
<p>West: increased 8.7 percent in March to 108.0 and is 9.0 percent above a year ago.</p>
<p>Source: NAR</p>
<p>sisterS</p>
<p>Hang in there, perhaps the buyer of your house has not born yet…
</p>
<p>Anyway, in a “normal” market, it is not unusal to sell a house for more than 100 days.</p>
<p>[Stunned</a> Home Buyers Find the Bidding Wars Are Back - WSJ.com](<a href=“Stunned Home Buyers Find the Bidding Wars Are Back - WSJ”>Stunned Home Buyers Find the Bidding Wars Are Back - WSJ)</p>
<p>Bidding wars…</p>
<p>^Maybe in some selected areas.</p>
<p>Heard on the radio today, foreclosures are down but they fear it’s because the banks were holding back & verifying the paperwork (the robo signature thing) and things will pick up again soon.</p>
<p>There have been some bidding wars here. I have a client who is looking for a new house, but so far every house he’s looked at someone else has made a better offer.</p>
<p>Let’s not forget that there is still another (big) wave of foreclosers coming. I know plenty of homeowners that are underwater and a handful that are not currently making any mortgage payments. My kids both want their home this summer. Son is summer interning in Irvine and D is studying/taking her CPA exam before starting work up in San Jose CA in September, so I don’t want to shake things up too terribly for them. I’m thinking of listing our home in mid to late July. Hopefully, multiple offers will come our way if we price it correctly.</p>
<p>Ah, bidding wars, every seller’s dream and every buyer’s nightmare! We close on Tuesday on the sale of our house after putting it on the market March 26. We didn’t get multiple bidders, but our one and only bidder made their offer on March 27, went considerably over asking price, gave us a seven week free rent back (to get us to the end of school) and offered to take our 45 year old house “as is” IF we accepted within 24 hours. They wrote a very nice letter with attached picture, too. With an offer like that, we were OK foregoing our open house and possibly becoming the beneficiaries of a bidding war. Bird in the hand and all that. Still, I wonder what would have happened if we had held off and had the open house. Silly of me, but there it is.
Good luck to all the sellers and soon-to-be sellers!</p>
<p>MATHMOM!!! Why wasn’t this happening when my dad’s house was on the market?!?!?!?!?!</p>
<p>Timing is everything in ANY investment, housing market is the same. If you buy/sell at the wrong time, you will have financial variances. So many ppl bought at the wrong time in the ~2007 era and lost their house. It seemed the market had bottomed out at the turn of 2012. Luck played a major role in many ppl’s life.</p>
<p>Just got the email that the one of the church members (who can get a mortgage) is going to be the buyer on MIL’s house, since the church can’t find any bank willing to give them a mortgage even with a 30% down payment. We’re supposed to see the formal offer, with no contingencies in the next couple of days, enter escrow next week, and close within 30-40 days. Cross your fingers!</p>
<p>Congrats, arabrab!!</p>
<p>Why is selling to the church so important? Can’t your realtor market it to the general public?</p>
<p>Was curious about what happened to the NJ house I sold in 2000 today. So, looked up on Zillow. I sold the house at the bottom of the market then at 260K, it took me over 7 months to sell and close the deal. Market soon recovered and at the height of the market, the house could easily be sold for over $500k, 600k on a stretch. Today, I just learned the house across the street sold for $325K in Sept. 2011 and the house next door sold for $350K in Feb. 2012. Those three houses are exactly the same size.</p>
<p>It don’t look so bad for my sale in 2000 now a days…:)</p>