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Is That Real Estate Listing Getting Rusty or Is It A Good Deal?
One of the more popular questions I get on a day to day basis from people looking to buy a home in Northern Virginia is "How Long Has That House Been on the Market?"
In that respect, Northern Virginia is not unique, as buyers around the country ask themselves and their REALTORS that same question, over and over again.
When you learn that a home has been on the market for a long time, what do you think?  If you're like most potential buyers, your house searching red flags start going berserk and you make one or more of the following assumptions:
There's gotta be something wrong with the house.  
The price is too darn high.  
The sellers must be willing to negotiate.  

The sellers don't really want to move.  
There's something else we don't know (about the home, the neighborhood, the sellers) Typically, when a home is on the market for a significant amount of time, over and above the average time on market in a given area, that's a strong indication that the home is overpriced.  Many sellers do themselves an injustice by overpricing their home for sale at the beginning. 
There may be several reasons ... more

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