June 30, 2010 · 2:32 pm

Eight sales, one contract, 7 price drops today

Here’s the deal: you missed the spring market. Sales are old information, contracts are what’s going on now, and there’s nothing going on now. See you in September.

6 Comments

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6 responses to “Eight sales, one contract, 7 price drops today”

  1. Stanwich
    June 30, 2010 at 2:43 pm

    oh please, as if real estate in town still follows those silly old conventions. You are starting to sounds like David Ogilvy.

    • christopherfountain
      June 30, 2010 at 2:48 pm

      Stan, I have decades of statistics on my side – what do you have? The time to drop your price is March, when, after three weeks on the market, you’ve received no offers. Come July, buyers are off with their kids on vacataion. They’ll be back in September, but by then your shabby old price reduction of July just looks worse, and you’ll have to take another one to compete with the new listings coming on.
      The longer a house sits on the market, the worse it looks and the lower its price must be to attract a buyer.

  2. Fly Girl
    June 30, 2010 at 3:39 pm

    This year, from my vantage point, vacationers aren’t staying away as long as two months, or even a month for that matter. We own a couple of rental properties; our decade-long tenants dried up; newbies are asking for much shorter stays. We were always rental snobs, insisting on a minimum of a month. These days, we say we’ll take what we can get. So maybe the traditional seasons of house buying have also changed? If I were house hunting, I’d absolutely positively shop when sellers/realtors don’t expect me to pounce….August.

  3. Anonymous
    June 30, 2010 at 4:23 pm

    I like your thinking flygirl

  4. Priapus
    June 30, 2010 at 9:29 pm

    Does ANYONE have a Quotron?