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When buyers are out looking at homes they always ask how long a house has been on the market. This question can often provide some valuable insight. How motivated is the seller? How flexible is he on price?
that for you
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17 Comments on Some Homes Are Becoming Stale
Sandy, your right those houses become "stale" If a seller is not motivated to sell at the CURRENT market price, that seller should take his home off the market and stop the clock running. Here after 91 days off the market it becomes a NEW fresh listing again.
We have a similar situation in my area - hundreds of homes that have been on, in several cases, for years! That's not stale, it's dead and buried. I empathize with everyone trying to sell a home nowadays, but if you really don't have to sell, take it off the market.
Hi Gail, I agree. It hurts the seller to indefinitely leave the home on the market.
Hi Margaret, In many areas some are in difficult situation, it would be best for those that don't have to sell to get these homes off the market.
Many of the unrealistic sellers in Massachusetts have pulled their homes off the market and if you can believe it, buyers don't have too much to choose from. We've had multiple offers on 3 of my last 5 listings. Two of them went for well over asking...the roller coaster ride continues!
Wow, that's something! We still have a good percentage of overpriced listings. We still have plenty of inventory here. But, we are seeing multiple offers on attractively priced short sales and foreclosures.
Sandy, wow, you have some properties sitting for a very long time. The sellers are not being realistic.
Good post Sandy, I have noticed people taking their homes off the market - but they do come back on, and usually with a different listing agent, too.
Hi Sandy
The market has a number of homes on the market that are stale, what we can do is clean them up and price them right and they will sell.
Good luck and success.
Lou Ludwig
Sandy, many of the stale listings are most likely the ones I call perpetual listings. We have listings that bloom like flowers every spring and wilt at the end of the season year after year. Of course there are the foreclosed properties that the asset companies will eventually move by cutting the price after they are in total disrepair!
You are so right Sandy. I just showed a home on Saturday that I first showed buyers three years ago. In that time, it has only been reduced about 15%.
Sandy, I went on a mission and found one here. Get this, 2,641 days on market. the price is now $75,000 less than it was 2002. Steal it for a cool million. Sad part is we have 214 more at over a thousand days. I'm relieved none of them are mine.
Sandy - It is pretty amazing to see some properties sit so long. It makes you wonder if the agent is communicating at all with the seller about price. I'm looking at Kevin May's comment, "2,641 days on market" That's over 7 years folks!
Sandy, Homes are becoming stale and the sellers don't think over pricing applies to their home...
Hi TOTO, No, I would have to agree with you on that one.
Miss Mary, We have seen alot of that too...goes off the market and comes back with a new agent...hopefully, at a lower price.
Lou, It would be nice to get these off the market, or get them priced properly.
Caren, Unfortunately that's true... on and off the market... and then they are not able to be sold at all.
Tom, Ouch, that really hurts - that's no good.
Kevin, That is absurd. Why would anyone leave their home on the market for over 7 years?
Myrl, That is absolutely unheard of! Incredible! Get it off the market.
Paul, It's unfortunate, as these properties are sitting for so long...some will never sell.
Hi SS,
good post. My home is going on 11 months on the market. I'll wait until after the summer to take it off the market.
Hi TO, Uh-oh - hate to hear that! I know that it's taking the higher priced properties longer to move off the market. Hopefully you'll get a buyer this summer for it!