Reply #20: Fall is not a great time to sell. It always slows..

[progressivebydesign]

And.. it depends upon the house. During the slower seasons of the year, some houses sell in a matter of days, others languish. It all evens out in the springtime. When things slowed down a bit during July (while everyone was on vaction) people were screaming and gloating that 'this was the burst of the bubble', well.. in August, when people returned and just before school began, it got crazy again with homes selling in a matter of days with multiple offers.

I have a ton of experience with real estate and trends. This is not a bursting market, it's a phase that happens each year around this time AND the phases are also based upon short term news cycles and mindsets. Her house was probably overpriced, and 30k off an 800k house isn't jack when it comes to enticing buyers. I have experience in preparing homes for sale, I'll betcha I'd go into that house and be able to tell you in 10 minutes why it hasn't sold... hot or cold market aside.

The mortgage rates rising does affect sales, as people rush to do their loans before a rate increase arrives.. but more, it's a reflection of kids being back in school and all of us wanting to be settled into our homes by thanksgiving and the other holidays.