That Would be *Five(!) Price Reductions (If You’re Counting) First, two caveats: 1) the home that goes with the rather brutal chart (above) — spanning over 2 years of market time — wasn’t my listing (I prepared it as part of my listing presentation for a home down the street); 2) it’s from a...Read More
Three Days on the Market vs. Three Months I don’t know about other Realtors, but my policy as a listing agent (representing Sellers) is to counsel that they leave Realtors’ business cards out the first few days their home is on the market (protocol is for agents who come through the Broker Open or do a private...Read More
“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
“Name . . . That . . . Tune Market Time!!” I’d be terrible at “Name that Tune” (I’m tone-deaf and know next to nothing about contemporary music — or any other kind). If you blindfolded me, I couldn’t tell you if I was smelling a rose or rotten eggs (my sense of smell is worse than my musical aptitude). But if I went...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
One Less Holdover in Fern Hill What characterizes a weakening housing market? Currently “For Sale” properties linger inordinately, creating a backlog that undercuts pricing for successive, new listings. What characterizes a firming market? Long-time, “carryover” listings get absorbed, tightening supply and setting the stage for more aggressive listing prices prospectively. Category #2: Exhibit A You...Read More
