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House for sale 700 plus days, what do buyers think?

By Kenneth Cole

Real Estate Agent with Weichert Realtors Appleseed Group, 2043 Richmond Ave. S.I.N.Y. 10314. office phone 718-698-9797, Appleseedhomes.com -

March 22, 2011 09:56 AM

House for sale 700 plus days, what do buyers think?

What goes into your mind when you see that a house has been on the market for a long time? Something is wrong, right? Absolutely. If everything was just dandy, it would have sold within a reasonable time period, say 90 days, right?

So, if you are a buyer, and see it's been on the market awhile, what are you thinking?

For me, I'm thinking it's over priced, next I'm thinking the buyer, if any, canceled because they did not qualify for the mortgage, then I'm thinking if none of the above, the agent did not market properly.

For the public, and that's more important then what any agent thinks, they must be asking themselves, "if it takes over 700 days to sell a house, their must be something wrong with it, and when I'm going to sell how long will it take me"?

Overpricing is a down market, not a good idea.

Thinking of selling on Staten Island? Call me for a free analysis of the value on your home.

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Christine Hooks

Pino Agency - Pennsville, NJ

Celebrating 25 Years in Real Estate!

And the unspoken question; "Is there something wrong with the listing agent?"

I worry about that one, Kenneth. I heard that there are going to be rating systems for Realtors online very soon. (scary!)

Mar 22, 2011 09:59 AM

John Howard

Century 21 LeMac Realty - Mountain Home, AR

GRI, Mountain Home, Arkansas 870-404-3614

Kenneth, Just had experience selling a farm after it was on the market over 1400 days...a real chore to get a reasonable offer due to time on the market.

Mar 22, 2011 10:06 AM

Valerie Osterhoudt

Johnson Real Estate, Inc. - Cromwell, CT

ABR, Cromwell, CT Real Estate ~ 860.883.8889

Kenneth.. I'm think the general public / buyer should start thinking not what is wrong with the house, but why did the Realtor over price the house. Find out who the realtor is... and STAY AWAY.

Mar 22, 2011 10:14 AM

Gabrielle Kamahele Rhind

KGC Properties LLC, Tucson Property Management & Real Estate - Tucson, AZ

Broker/Owner

HI KENNETH! Well, it's easy to blame the real estate agent - and it's why clients "agent hop". The reality of long listing periods is a result of two things: the Seller and the condition of the home. And price is dictated by the Seller - no matter how great of an agent one is - if you can't crack a difficult Seller - you have an over-priced home.

Mar 22, 2011 10:38 AM

Kenneth Cole

Weichert Realtors Appleseed Group, 2043 Richmond Ave. S.I.N.Y. 10314. office phone 718-698-9797, Appleseedhomes.com... - Staten Island, NY

NYS Licensed Real Estate Salesperson

Wow! What great comments. Thanks Chris, John, Valerie and Gabrielle. Home sellers really need to understand this. Thanks again.

Mar 22, 2011 11:49 AM

Debbie Gartner

The Flooring Girl - White Plains, NY

The Flooring Girl & Blog Stylist -Dynamo Marketers

Yes, 700 days would really make me wonder. Could be a difficult seller too.

Mar 22, 2011 01:33 PM

Debbie; I'm just using 700 days as an example. Anything over 180 days and buyers start to wonder. The big question I think is "If I buy this house, how long will it take for ME to sell it when my time to move comes"? This can really hurt the present seller. It winds up selling for less then it would have if priced right in the beginning. Thanks for stopping by.

Mar 22, 2011 02:15 PM

Wanda Kubat-Nerdin - Wanda Can!

Red Rock Real Estate (435) 632-9374 - St. George, UT

St. George Utah Area Residential Sales Agent

Yikes Kenneth! It's easy to assume the worst when a property is on the market that long. Sometimes it's the national bank who thinks their property is worth more than local market value!

Mar 22, 2011 03:00 PM

Pam Jank

Coldwell Banker Schneidmiller Realty - Coeur d'Alene, ID

Your Coeur d'Alene & North Idaho Real Estate Pro

Kenneth, You are so right. When they keep a property on the market for too long at too high a price it just sets them up to sell at a much lower price than if they had priced it correctly.

Mar 22, 2011 04:53 PM

Gary L. Waters Broker Associate, Bucci Realty

Bucci Realty, Inc. - Melbourne, FL

Eighteen Years Experience in Brevard County

I have seen a few of these and think overpriced. Buyers do think "what is wrong?" Agents need to manage the listing or let it expire!

Mar 25, 2011 04:27 AM

House for sale 700 plus days, what do buyers think?

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