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