Any realtors? Question about the housing market

[zacattack]

Getting ready to sell our house, moving to a different state for work, was just wondering what the housing market is doing? The realtors we talked to all said it’s slowed down but all of them have our house for about 30 to 40% higher than what we paid for it a few years ago. Just kinda curious as we are on a tight timeframe and don’t want our house to sit forever. There are currently no other houses that arecomparable to ours in the area for sale right now so it’s kinda hard to look and see what others are doing.

 

[kybuck1]

Lots of depends with that question. I'm no realtor but building now and gonna sell here soon. Interest rates are continuing to drive things down a bit but availability close to cities and certain size houses are still in demand. I think overall market is still really good to sell but it may take a bit longer to happen than previously. I also don't see it improving in the near future.

 

[h2so4]

So what’s the question? Has the market slowed down- hell yeah. All local markers are unique. Talk to your local expert. Price it low for quick sale. Price it higher for most profit. Basic capitalism at play here.
Add more detail to your post for more detailed responses! What city are you in? Do you need to sell to buy in the new state?

 

[TCUHunter34]

Market has slowed more than anything but prices are still up from a couple years ago here in OKC, even just as high as a year ago per median sales price. Likely similar to where you are. Sellers got greedy in 2021 and buyers got careless. If you price your home right, it will still sell quick.

 

[BRTreedogs]

If you have a solid family size house in a decent area it will sell as long as the financing company can get them into the payment.

 

[zacattack]

So what’s the question?

So what’s the question? Has the market slowed down- hell yeah. All local markers are unique. Talk to your local expert. Price it low for quick sale. Price it higher for most profit. Basic capitalism at play here.
Add more detail to your post for more detailed responses! What city are you in? Do you need to sell to buy in the new state?

We are in East Lansing, Michigan moving to Fayetteville arkansas. The local experts are all over the place on how the market is, like they’ve told us it should sell in a week, but also that the market is much slower now, prices are also all over.

We do need to sell this one first to buy in a new state, that’s one thing that worries me is if we price this one too high it’s going to sit (maybe) some really over prices houses in our neighborhood sold in a few weeks in the fall. It all kinda feels like a crap shoot but maybe I’m just overthinking it. This is also the first house we’ve sold so I’m probably just anxious about all of this.

 

[BRTreedogs]

So just don't price it to high.
In my area if you don't have multiple offers in 72hrs your to high

 

[GSPHUNTER]

Just go online and check comparable in your neighborhood, And in area you are moving too.

 

[crich]

Im not an agent but I invest so I watch quite closely. Things have slowed significantly but It will take time for brokers to come back to reality and get comfortable telling clients that their homes are no longer going to sell for 40% over 2020 prices with current rates. If you dont want your house to sit then you need to have a candid conversation with your agent about a realistic/competitive price based on what youre comfortable walking away from the closing table with. A large number of people listing their homes for top dollar and letting them sit have FOMO in my opinion. But at the same time its tough to swallow when you also need to buy elseware and deal with inflated prices and rates.

Edited to say it takes longer for prices to fall because prices are set off other comps... comps that sat on the market for 3 months and were continuously reduced from not selling. Its a much slower process than constant bidding wars that raise a market 25% in a year.

 

[fmyth]

Getting ready to sell our house, moving to a different state for work, was just wondering what the housing market is doing? The realtors we talked to all said it’s slowed down but all of them have our house for about 30 to 40% higher than what we paid for it a few years ago. Just kinda curious as we are on a tight timeframe and don’t want our house to sit forever. There are currently no other houses that arecomparable to ours in the area for sale right now so it’s kinda hard to look and see what others are doing.

I've been a broker for 23 years. If you'd care to answer a few questions I can offer some advice on how to determine the current market value of your home.

 

[zacattack]

99% of the agents you will encounter will make a wild guess, sign you to a listing contract and let the market determine if they were close. If you'd care to answer a few questions I can offer some advice on how to determine the current market value of your home.

Sure I’ll take all the help I can get

 

[zacattack]

So just don't price it to high.
In my area if you don't have multiple offers in 72hrs your to high

Yeah, I just want to be sure I get enough to buy a new house where we are moving, which appears to have an insane housing market.

 

[BRTreedogs]

There is always a million shooda wooda.
My rental went up 100k and I didn't like owning a rental.
I sold.
Had I waited another year, well I would of made another 100k.

 

[Dos XX]

I am not a realtor, but I live in Fayetteville. If you have any questions about the area, let me know. The market here has cooled some but is still up like most places.

There is a local realtor that has a radio show every week on KURM radio. I think it is at 9:00 in the morning, but I can't remember which day, maybe Tuesday. You can stream KURM. They talk about the market conditions every week on the show, including how many listings there are, median price, etc. Might be worth checking it out.

KURM is mostly an agriculture-based radio station in Rogers. They cover the cattle sale barn in Decatur live every week and other farm related events. I looked on their website and it doesn't show the time for the show. You might email them or even call them, if you are interested.

 

[zacattack]

I am not a realtor, but I live in Fayetteville. If you have any questions about the area, let me know. The market here has cooled some but is still up like most places.

There is a local realtor that has a radio show every week on KURM radio. I think it is at 9:00 in the morning, but I can't remember which day, maybe Tuesday. You can stream KURM. They talk about the market conditions every week on the show, including how many listings there are, median price, etc. Might be worth checking it out.

KURM is mostly an agriculture-based radio station in Rogers. They cover the cattle sale barn in Decatur live every week and other farming related events. I looked on their website and it doesn't show the time for the show. You might email them or even call them, if you are interested.

I’ll look into it. Any places I should avoid? We are primarily looking into west Fayetteville and Farmington.

 

[Dos XX]

I’ll look into it. Any places I should avoid? We are primarily looking into west Fayetteville and Farmington.

West Fayetteville and Farmington are both good areas. Wedington Dr is a high traffic area, especially at certain times. That is high traffic for this area. I have lived places where it wouldn't even register as traffic, so it kind of depends on what you are used to.

If you are coming into town from Farmington on 62, the area where 62 gets close to intersecting I49 is kind of a zoo. That is the most used access point to the University. You figure out how to get around places like this and use alternate routes. The traffic where you live now may be worse than what we have here.

EDIT. I see you live in East Lansing. It looks like Lansing metro area and NWA metro area are about the same population. Are you going to be connected to the University here?

 

[zacattack]

West Fayetteville and Farmington are both good areas. Wedington Dr is a high traffic area, especially at certain times. That is high traffic for this area. I have lived places where it wouldn't even register as traffic, so it kind of depends on what you are used to.

If you are coming into town from Farmington on 62, the area where 62 gets close to intersecting I49 is kind of a zoo. That is the most used access point to the University. You figure out how to get around places like this and use alternate routes. The traffic where you live now may be worse than what we have here.

EDIT. I see you live in East Lansing. It looks like Lansing metro area and NWA metro area are about the same population. Are you going to be connected to the University here?

Yes I’ll be faculty at UA. Traffic around here sucks because of constant road work, not so much volume of cars.

 

[def90]

To many variables. It's going to depend a lot on the city and the price range.

 

[Bachto]

It all kinda feels like a crap shoot but maybe I’m just overthinking it. This is also the first house we’ve sold so I’m probably just anxious about all of this.

Hi there! Actual real estate agent here. You are probably just nervous and anxious. Selling and buying a home is most peoples biggest financial transaction they will ever make so it's understandable. It also sounds like you haven't quite found an agent that you fully trust which will probably help ease some of the anxiety once you do.

Some of this advice on here is correct, some of it makes me roll my eyes. typical internet lol. I think you need to find an experienced (key word here, and like 3 years experience with a minimum 15 transactions a year) in your area. Nobody on here is going to know the market where you live unless they are a broker there. Hope this helps.

 

[Mojave]

Every market is cooling, real estate, vehicles, expensive things galore.

You missed the market up, and hopefully you can sell before the market falls apart again.