Red Flags & Danger Signs - Or Maybe - Just Maybe - an Opportunity??

I showed a house this weekend that had my buyers & I very curious before we even got there to see it.  In looking at the listing's history, I could see that it has been on the market over a year.  It's at a price point and in a neighborhood where that is NOT normal.  It has had 5 price reductions over that time, and been under contract and then back on the market twice.

You know the question that was in our minds - What is WRONG with this house??

Well, now that we have seen it, we are thinking maybe no fatal flaws - maybe an opportunity.  Yes, it is dated to some extent, needs some TLC - and has that lingering "home of a smoker" fragrance.  But we decided it MAY just be a victim of the poor decision to start at a listing price that was WAY too high, then the misfortune of a pair of failed sales (which according to the listing agent were due to one buyer's financing failing and another buyer's current house sale falling apart).  And those issues are certainly not unusual in this current market.  But all that combined to create a very, VERY long market time for this house - so undoubtedly we are not the only ones wondering what is wrong with this house!

So maybe an opportunity!  The most recent failed sale threw the house back on the market only a short time before the sellers moved out of the area.  I'm sure they were disappointed; I imagine they are hopeful of the house selling soon - and actually closing.  My buyers and I think the price is actually STILL a bit too high for its condition.  So MAYBE we will write up an offer, and we will see if the bad luck those sellers have had thus far is about to change - with my buyers also managing to get a bigger home and a good value.  They're talking it over - we'll see!