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