A look at the Coeur d'Alene Multiple Listing Service Hot Sheet on any given day will show that there were expired listings, as well as those that sold, pended, were withdrawn or canceled.
The expired count will usually soar at the end of a month from the normal few to perhaps several dozen.
But this morning I was stunned to see that a
whopping 706 listings expired on the last day of 2016!
This translates to a huge decrease in the number of available listings in the Coeur d'Alene MLS while we were sleeping last night!
What does this mean for you?
If you are a seller with your home currently on the market:
This is wonderful news in that there will NEVER be less competition for buyers over the course of the coming year than there is right now! Hold your agent's feet to the fire to keep up marketing momentum.
If you're a buyer:
You will find fewer homes to choose from than you will at any other time of the year. It will be more difficult for you to find your perfect home. You can't be quite as picky as you might otherwise be, and you could very well find yourself in a competitive bidding situation for the well-priced homes in great condition.
If you're a seller whose property has expired:
Remember Albert Einstein's definition of insanity - doing the same thing over and over and expecting different results. Reposition yourself in the market and hire a savvy agent to get the job done for you! And the sooner you get your home back on the market, the better for you.
Many real estate agents make it part of their business plan to target owners of expired listings and attempt to relist the home.
If you own one of the 706 expired properties in the Coeur d'Alene Multiple Listing Service, brace yourself for an onslaught of contacts by phone, mail and knocks at the door.
My number one piece of advice for you - Before hiring your next agent, make sure you take a close look at what they are doing to market the listings they currently have. There is no reason not to expect success in 2017! You may have to rethink and reposition yourself, and accept that the past is the past and can't be changed.
Move forward, think positive, focus and make smart decisions.
Whether 2017 becomes a happy new year is all up to you!