I recently had a Seller who turned down a full price CASH offer. Many agents would have a stroke if this happened to them. There are many reasons not to accept an offer. In this case, the Seller was building a new home in Westchester County. The offer came in in August and the Buyer was insistent on a 30 day closing. The Sellers’ new home would not be done until late December. We sat down and calculated 2 moves, storage, and temporary housing cost and determined that it would cost the Seller an additional $30,000. We were all confident that even if we needed to lower the price, we could sell this lovely home and coordinate the closings, greatly reducing costs and stress. The Seller ultimately received $10,000 less but realized a positive delta of $20,000 and then, what is minimal stress worth??Continue Reading

James Philipakos from Flagstar Bank forwarded me this great information about which day to make your home ACTIVE on the MLS.  James is a trusted advisor and you can reach him at 203 856-4771.

Redfin studied 100,000 recently sold homes and found a pattern for price and time results based on which days of the week listings went active.

To understand why this information is both accurate and important, we should think about consumer behavior. Potential homebuyers who are in the “looking” mode don’t do a lot of planning. They jump out on the weekend and check out open houses.

Serious buyers plan much more, setting up a list of homes for sale that fit their needs and they schedule their time to see as many as possible, usually on the weekend. To get their schedule together, they need at least a couple of days, so (drum roll), what is the best day to take a listing active?
By a stretch, Wednesday came out on top. Take a listing active on Wednesday to give the serious buyers two days to plan before the weekend. The study showed an average $2,023 higher selling price and a shorter time on the market for Wednesday-activated listings. Thursday came in second, but Wednesday was much better when compared to activating the listing on the weekend.

Get the serious buyers to your listing on its first active weekend by taking the listing active on Wednesday.