When I am showing properties to buyers, the first thing that they ask me is how many days the house is the on the market for. Often times, they are wondering why the house is still on the market. A number of things are determine how long a home is on the market for.
-The house could have a previous deal fall through because of mortgage issues, inspection items, buyers couldn’t their home required to purchase this home or any other of issues.
-The seller could have had previous offers that were not accepted.
- The home doesn’t show well due to clutter, deferred maintenance, a smell or any other potentially negative thing with the house.
-The home is difficult to show.
-The listing is not being marketed properly.
-Difficult property for potential buyers to obtain financing on.
-Property is being marketed at above market value by owners that won’t reduce their listing price.
-Oversupply of inventory
In the Danbury area, the average days for homes currently on the market is about 120 days. I won’t be afraid to look at look at any homes that are on the market for more than 6 months. I have shown great homes in the last couple of weeks that have been on the market for more than 6 months that have me confused why the house hasn’t been sold yet that are priced right and show well. Sometimes it’s just a matter of waiting for the right buyer to come along.
The only way to find out what is ‘wrong’ with the house is to look at it. If you were further interested in the home, we would determine what fair market value is and look over the property disclosures. On top of that, to protect you, your offer would be subject to contingencies such as inspections,appraisal and obtaining financing, so in case something comes up you will be protected.