| A common question that Buyers ask is how long | | | | be unreasonable. They do not want to sell |
| a house is on the market. If it is too long, | | | | their properties for a dime less than what |
| interest is lost quickly. It is a natural | | | | they are asking. It may be a ridiculouse |
| reaction to not be interested in something | | | | price, but it may also be entierly |
| that no one else is interested in. The | | | | reasonable. But, not negotiating at all turns |
| natural assumption is that there must be | | | | away a lot of Buyers. So, the property will |
| something majorly wrong with the home. But | | | | sit until a Buyer is willing to give in |
| there are many reasons why a house has been | | | | completely to the Seller. |
| on the market for a while. | | | | |
| | | | If you are interested in a house that has |
| A very common reason is that the home was | | | | been on the market a long time, do not |
| originally listed to high. When a home is | | | | dismiss it soley on the number of days on |
| first on the market, it will get a large | | | | market. One thing to check out is the average |
| amount of traffic with the group of Buyers | | | | days on market of the neighborhood. If the |
| currently looking. It is crucial for it to | | | | average is high, get your agent's opnion as |
| not be over-listed, or those potential Buyers | | | | to if that is normal or because the |
| will pass, either because it simply is not | | | | neighborhood is a undesirable area that will |
| showing up in the right price range or those | | | | be hard to resell. If the average is lower |
| people looking in that price range are | | | | than that particular house, just investigate |
| finding better deals. So, the house sits on | | | | the house, as you would with any property. |
| the market for the first couple weeks without | | | | Get it thoroughly inspected. Check that it is |
| intriguing any interest. Even if the price is | | | | not in a restricted area, like a flood zone |
| lowered, the initial rush of Buyers is over. | | | | or endangered species area. Also, most MLS |
| And the damage of the house being on the | | | | systems will show if the property ever went |
| market for a while with no offers was already | | | | pending. If so, ask the listing agent what |
| done. | | | | happened the last time the home went under |
| | | | contract and why those Buyers chose not to |
| Another reason a house is on the market for a | | | | purchase the property. |
| while is that the showing procedure for the | | | | |
| house is difficult. There could be unwilling | | | | In the end, choose a property because you |
| tenants, or even some Sellers themselves make | | | | enjoy it and any repairs are something you |
| it extremely hard to show a property. If the | | | | can handle. Days on market could be an |
| home cannot easily be seen, there will be | | | | indication of the property having severe |
| lots of missed opportunities to have possibly | | | | problems, but that is not always the case. |
| sold the house. So, the place stays on the | | | | Look at it in context of the market area and |
| market for a while. | | | | get it inspected as you would with any home. |
| | | | Some of the best deals are properties that |
| Also, some Sellers or even their agents could | | | | are being ignored by everyone else. |