How many DOM before listing looks "stale"? (agent, footage, sellers)

[art_teacher_mom]

Even with regular price drops, will a 6 month listing look stale in this market? (Texas)

I'm thinking the house is now at the back of anyone's search, even with the 40k price drop.
Would we be better off pulling it and relisting after a short break?

How long do we have to let it sit before the DOM refreshes?

ALSO: what's your opinion on letting people know we're selling due to relocation? My agent advised against it, saying it might cause people to think we're desperate and lowball. But to me - it's obvious we've already moved out anyway (no clothes in the closets, etc.)
I guess I would want to say this so people know there's nothing "wrong" with the house or neighborhood - we've just taken a job elsewhere.

All opinions welcome! THANKS.
(by the way, our house is professionally staged, completely updated and cheapest per sq. foot in neighborhood/area.)

[TheyCallMeDerek]

It's not common to state WHY a seller is selling, however if a seller told me that it was ok to advertise I might suggest against it also. Only because if (for example) if you have a pool and every teenager that can read (tall order, I know) discovers that no one lives there, it could be a problem. I might suggest to said seller that we advertise "Bring all offers' OR "Seller is Motivated". Kind of cliche I know, but the objective is to get offers.

6 months could be a little stale, however, when buyers perform searches your house will pop up regardless of how many days it's been on the market. And with price drops it appears again for buyers with saved searches. I might suggest your listing agent take another look at comps to see what's been happening over the last 6 months by doing a CMA. Gotta make sure it's priced right. you had mentioned that you've got the cheapest per sq feet, but if your house is larger than most your sq footage price will drop lower naturally....just a thought.

[keeshonder]

What is the average days on market in your area? Especially for homes in your category? Compare to both sold DOM and unsold DOM. If the average sold DOM for your type of home is 8 months, you might not be stale yet. It was good advice to get your agent to compare current comps. As for when D.O.M. refreshes, it depends upon the MLS rules.

[art_teacher_mom]

Thanks for the input. To answer some questions:
We're at 290k in a neighborhood that ranges from $230-$800k. The lots are anywhere from 2-15 acres, built between 1975 and 2005, so the comps are kind of hard to do. (Some huge houses on 2 acres and some tiny ones on 10 have sold.) Still, looking at what has sold we appear on the low end. Our agent refers to our house as a "niche" product because it's not in a "regular" type neighborhood. She says they take longer and I know she's probably right.

I do trust my agent - I just don't know if she'd really tell us we're stale and should pull it!

Ok, so it's not so normal to say why you're selling. Gotcha.

[Rakin]

A year or 2 back 60-90 days would mean a stale or old listing. I would hardly show a home past those time periods.

In todays market 6 months is not a big as a factor. We have a couple of listings with about the same amount of time. I may recommend they take them off the market around the holidays for 30 or so days and relist after Jan 1 to reset the clock.

Going into 2011 with 9-10 months on the market to me would not be a good thing. I'd rather start the new year out fresh. JMO

[middle-aged mom]

I do not know your local market or what information is available to consumers.

In my market attempts to reset the DOM is meaningless.The history of every listing resides in the MLS and many subscribers publish it on independent websites.

Any agent worth their salt is going to do their homework and understand your motivation for selling before making an offer.

I do not care for the " regular price drop" strategy because it begets further reductions and everyone knows it. I advocate doing it once and doing it right. Having said this, I also understand that many sellers need more time to understand how markets work and to hear what the market is telling them. A cumulative price reduction of $40K is meaningless if the market is, for example, $75K off of where you began.

[Rakin]

Originally Posted by art_teacher_mom

Thanks for the input. To answer some questions:
We're at 290k in a neighborhood that ranges from $230-$800k. The lots are anywhere from 2-15 acres, built between 1975 and 2005, so the comps are kind of hard to do. (Some huge houses on 2 acres and some tiny ones on 10 have sold.) Still, looking at what has sold we appear on the low end. Our agent refers to our house as a "niche" product because it's not in a "regular" type neighborhood. She says they take longer and I know she's probably right. .

It's hard for us to judge. It is just taking a while to sell and if you are near new construction the builders are very tough competition.

Many good homes, priced well are just sitting right now even in DFW. Every buyer is looking for a low price on a home.

There is a clog in the dam somewhere. Once the buyers start to buy, it will release people like you to move on and purchase elsewhere.

[art_teacher_mom]

Originally Posted by Rakin

Going into 2011 with 9-10 months on the market to me would not be a good thing. I'd rather start the new year out fresh. JMO

That's exactly what I was thinking. Thanks.

[chet everett]

I have seen all kinds of efforts work well. A place near me had a huge garage as the seller was a collector of classic cars. Agent bought a mailing list of car collectors, sent out post cards that highlighted that fact and got a whole lot more interest.

Place with big outdoor pond , get list of subsribers to koi world.


If your agent is willing to spend a little money you might be amazed how mainstream your niche looks...

[art_teacher_mom]

Chet, that's actually pretty clever to do that type of niche marketing.
Wonder if I could market to 2012 apocalypse survivalists? We have our own water well, rain collection, room to garden, deer to hunt, wood burning stove and chickens are allowed.
(only partially kidding. )