Should I take my house off the market for a month?

By
Real Estate Agent with Sun Realty NC

HERE’S THE DISCUSSION THAT COMES TO MY MIND:  Do you think the market is going to change that much in a month?  Real estate markets tend to move more like glaciers than like jets. 

 What will you do when you put your house back up on the market?  Will you keep the same price? Will you change the condition?  In the Outer Banks MLS, withdrawing your home from the market for 30 days WILL NOT RESET your days on market count. Additionally, any realtor worth their salt will check the property history (that’s a one click, easy check) and see that you were listed before, for how long, and at what price. 

 ALSO:  How much will it cost you to carry the house for another month?  If you take your home off the market for a month, then put it back on, let’s say it takes a month to get a buyer and another month to close. That’s 3 more months of mortgage, utilities, taxes, insurance, and HOA fees.  Is that total more or less than the amount you’re willing to change your price today?

OR HOW ABOUT THIS: What will interest rates be in a month?  There’s something that can change quickly. What new financing restrictions will there be in a month?  How will the availability of home loans stretch or shrink your potential pool of Buyers over the next 30 days?

What was the goal of selling your home in the first place? Has that goal changed? It’s ALL about risk, and making that risk as small as possible, right?  So after thinking about all of that, should you take your home off the market for a month?

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Got questions?
Ask! 
hughwilley@sunrealtync.com or 252-489-8491
Hugh "Scooter" Willey
www.nagsheadhomes.com 
www.hughwilley.obxwhere.com
www.outerbankshomes4sale.com 

 

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Comments (1)

Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

great questions to ask the sellers thinking about taking their home off the market. 

Aug 06, 2016 08:38 AM