“So . . . How Long Has it Been on the Market??” First, a definition: “CDOM” stands for “Cumulative Days on the Market” — what non-Realtors call “market time.” As a prospective Home Seller (and their Realtor), it’s your friend on a new listing, neutral after perhaps 6-8 weeks on the market . . . and...Read More
Gap Between Last Ask, Sold Price One clue that a just-sold home had major inspection issues is when the sales price represents a big discount from the last asking price. So, for example, a house that was listed at $500k, was “Pending” on MLS for six weeks (give or take), then closed for . . ....Read More
Administering Financial Pain People famously dread visiting their dentists; after all, who looks forward to having cavities filled? Unfortunately, for home sellers whose homes are languishing on the market unsold, a visit to their Broker’s office may be more painful, at least financially. That’s because, after 60-90 days of market time without a deal, a 3%...Read More
“Don’t Be a Secret Agent,” the Corollary What’s one way to avoid racking up market time — the enemy of every home seller trying to get top dollar for their home (in other words, all sellers)? Don’t formally put your house on the market. Instead, more would-be Sellers appear to be quietly networking their homes...Read More
Law of Diminishing Returns If you don’t like technical, legalistic real estate posts — stop reading here. Earnest money (called “unrest money” by at least one recent Buyer) plays an overlooked but critical role in every real estate deal. Typically 2% to 5% of the purchase price, given by the Buyer to the Seller as...Read More
The Second Most Popular Question in Real Estate What’s the second most popular question in real estate? (the first being, “what’s my home worth?”) “How long will it take to sell my home?” Unless the Realtor is going to buy it, the honest answer is, “I don’t know.” However, it is possible to give the...Read More
