HOW MANY DAYS?
 Has your home been on the market an adequate time?

Call Us To Customize an Opinion of Value for YOUR Home

1.

Why Didn't My House Sell?

SELF DIAGNOSIS IN A CHANGING MARKET

1. How Many Days?

Your home needs to have adequate exposure to the the open market in order to meet the FNMA definition of value.  One common way people measure exposure is days on market, but this is a fallacy.  While even the best agents can't sell your property in a 30 day window, the average agent doesn't ever achieve adequate market exposure.  For example: Under ideal conditions, our team builds web sites and begin search engine optimization (SEO) procedures for our listings up to two weeks in advance of the day the sign goes in...because it takes that much time to propogate through the system.   At 30 days, however, the job should be done as far as exposure goes.  If typing your exact address into google does not show your property on the front page in the organic (unpaid) listings, you need a new real estate agent.

That's exposure.  But that is not average market time.  The following is an example of the market times for this year in your city.    Source:  Minneapolis Area Association of Realtors

Saint Louis Park

Golden Valley

Hopkins

Minnetonka

Plymouth

Year to Date

138

August 2007

117

122

138

124

117

112

81

117

130

Sometimes the media uses market statistics that include areas so dissimilar to yours that it holds no validity at all.  Some real estate agents are able to extract and use data which is meaningful and may even contradict what the media says.  It's a safe bet to trust REALTORS over the media, just as you would trust your Doctor / Lawyer / Accountant over the media.  It's not that they are using incorrect statistics, it is that they are using too general a sampling.  How does your market have anything to do with Saint Michael in Wright County...or Stillwater?  I assure you, it does not.  

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Average Days on Market Until Sale

Chuck Heubach CRS GRI
952.239.1311
CRS Council Certified Residential Specialists (NAR)
GRI Graduate Realtor Institute (NAR)
Real Estate Instructor
Appraisal Experience
Mortgage Industry Experience

Linda Heubach, REALTOR®, CRS E-Pro
952.931.9008
Top 5% in Sales in Minnesota 2006, All Agents
E-pro Certification National Association of Realtors (NAR)
Member CRS - Council of Cert Residential Specialists
Self Employed 30+ Years in Housing & Service Industries
Linda is the high touch people specialist & Leader of our team