Why has this great house been on the market for so long?


from TexasRealEstate.com

Ward Lowe | Consumer columnist

Nov. 14, 2011

If I told you a house had been on the market for the average amount of time for its neighborhood, would that affect your decision to make an offer? How about if I told you that it had been on the market for 13 months?

Like it or not

It shouldn’t matter how long a house has been on the market – if you like the house, you like the house. But some buyers get scared when a property has been on the market for a long time. Rather than worrying, however, they should ask some questions.

You’re just guessing

Buyers may think a property that’s been on the market for a while has serious problems – termite infestations, toxic mold, haunted bedrooms – but it may not. There are plenty of reasons why a home could on the market.

The seller might’ve set his price too high at first. The home may have been listed too soon, when repairs were underway or a tenant was living there. Maybe the sellers aren’t very motivated, preferring to test the market for a while.

Find the real reason

Ask why a particular property has been on the market longer than you’d expect. A Texas REALTOR® can also help you figure out why a house has lingered on the market – and if you should be concerned.

Don’t let a number scare you away from a great house.

This entry was published on December 29, 2011 at 10:47 AM. It’s filed under Canyon Lake Real Estate News and tagged , , . Bookmark the permalink. Follow any comments here with the RSS feed for this post.

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