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.