Attention Pasadena Home Sellers: Homebuyers Are Looking At Your DOM

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Real Estate Agent with Coldwell Banker Residential Brokerage CalBRE #01165532
http://actvra.in/FW4

Attention Pasadena Sellers:   Homebuyers Are Looking at Your DOM


Attention Pasadena Home Sellers!


 

Be prepared Pasadena and San Gabriel Valley area home sellers:  homebuyers are looking at your DOM.   Huh?   Duh, da, duh...DOM...DOM.   DOM, you say?   Yes, that’s real estate shorthand for days on market.  Days on market = the length of time the home has been on the market for sale.

One of the first questions I am asked by every home buyer is the number of days or the time a particular property has been on the market.   The longer the time on the market sends a signal -- overpriced, undesirable....second thoughts may set in...what’s wrong with this house??   Hmm, so you think you are smarter than that -- you’ll cancel the listing and start fresh.   Not so fast -- our local multiple listing service(MLS) has a field that buyers see -- CDOM -- cumulative days on market.   This is the time period the property has been on the market for sale over the last year.   This number reflects the market time regardless of  change in listing brokerage and price changes.   

So, Pasadena/San Gabriel Valley home sellers be mindful that homebuyers will ask about your DOM.   Are you a homeowner who is considering selling your Pasadena/San Gabriel Valley home and want to learn how to shorten your DOM.   I can answer these any other real estate questions and can be reached at 818.516.4393 cell or michaeljacobs@coldwellbanker.com

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Topic:
Home Selling
Location:
California Los Angeles County Pasadena
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days on market
pasadena real estate
pasadena home sellers
dom

Comments 21 New Comment

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Rainmaker
915,468
Belinda Spillman
Your Real Estate Resource For Life!
Aspen Lane Real Estate LLC

hi Michael.  This is sometimes the kiss of death.  Buyer's are so much smarter these days.  That is always one of their questions.  We get lots of folks who take their home off the market over the winter for this very reason. 

August 06, 2012 11:24 AM
Rainmaker
179,517
Tatyana Makarov
Your Greater Hartford Area Realtor
Coldwell Banker Residential Brokerage

Great post, great point...

Today's Buyers always ask me about DOM for the properties I show.

August 06, 2012 11:42 AM
Rainmaker
472,114
Chris and Dick Dovorany
Broker/Associate at Premiere Plus Realty
Homes for Sale in Naples, Bonita Springs and Estero, Florida

Don;'t you think that buyers ask days on market because they were told it's important?  I don't think it's important at all UNLESS we're into the triple diget numbers.

August 06, 2012 11:45 AM
Rainmaker
606,391
Ron Marshall
Birdhouse Builder Extraordinaire
Marshall Enterprises

I respectfully disagree that it doesn't matter.  It does.  It could mean that the sellers aren't motivated to price the property to the market, whcih could be a bad sign for other negotiations, if needed.

August 06, 2012 12:09 PM
Rainmaker
887,009
Michael Jacobs
Pasadena Real Estate Representation 818.516.4393
Coldwell Banker Residential Brokerage

Nancy - it's certainly one of the items I note when I am reviewing properties for a buyer or seller.

Belinda - yes, we also have sellers and many agents who think a house will not sell during the holidays -- many times a home will show so much better when it is tastefully decorated and our winters are quite nice and with less competing properties on the market for sale --- a seller may be able to realize a nice holiday gift....a sold home.

Tatyana -- yes, me too.

Chris and Dick -- well, in our market it is not uncommon for a well-priced, well-presented and well-located home to come on the market and receive offers fairly quickly so buyers and sellers are well aware of days on market.   Perhaps there is a difference in Florida.

Ron -- isn't it great to know that every market is different and perception on subjects can vary.   

August 06, 2012 12:32 PM
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Rainmaker
887,009

Michael Jacobs

Pasadena Real Estate Representation 818.516.4393
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Additional Information

Your source for real estate representation in the San Gabriel Valley and northeast communities of the city of Los Angeles including: Pasadena, Altadena, South Pasadena, San Marino, Alhambra, San Gabriel, Temple City, Arcadia, Sierra Madre, Monrovia, Duarte, Bradbury, Azusa, Glendora, Claremont, Glendale and La Canada Flintridge as well as Highland Park, Monterey Hills, Eagle Rock, Mt Washington, Montecito Heights, Glassell Park and Sagamore Park.