If a house is on the market for over a year then...

When you close your mind, you may lose a lot of opportunities.  Never mistake the length of time a home has been on the market because you just assumed and didn't investigate. 

Some of the houses have a poor floor plan that can be made better if someone has the ambition to change it.

I think you are right. Price is usually the factor but after time on the market I think sellers are more receptive to offers. Maybe they are ready to move on with their life.

Richard,

I always remind my buyers that we have a better opportunity for negotiation, the longer the houses on the market. Around here, coming in with an offer below list price on the house that's only been on the market for a week, is usually a failed proposition.

Rich

Hi Richard I am seeing more and more homes that were on the market well over a year suddenly go under contract. It is not a detriment it is a matter of supply & demand. Housing inventory is low, consumer confidence is up,prices are increasing  & those homes are selling again.  

Richard, it's true; sometimes the market speaks, it may just take some time for the seller to hear the voice.

in my market it means. .

that property is a pretend short sale. .being used cautiously as a ploy for the pretend sellers to remain on the house and bait the bank for more time. .. .or

the banks last lost its ability to foreclose for some unknown reason. .and there is nothing being done. while the house deteriorates

 

 

I would always want to show those properties as well as others.  If they are structurally sound and fit the buyers needs the fact that they have been on the market so long can be a great price negotiating point, especially if backed up with comps.

Sue of Robin and Sue

I've heard agents and buyers say, "I'll wait until it comes down to my price range.

HA!  The best way to do that is to MAKE AN OFFER!!!

Richard, We have plenty of homes in our area past the one year mark.  We have some hot pockets where 30 days or less is the norm, others where 8 months is the average, and it's easy for it to get worse if the home has anything odd or challenging about it.  We show them like the others just in case it is "the right one" for our buyers.  Sellers often come down enough to make it work, they're often "just tired" and want to be done and the first reasonable offer will make it happen.

Richard  Over a year is the norm around here.  I always like to show most everything knowing that an over-priced home just might solidify another home at the right price.  Sometimes the listing agent will be honest and explain the circumstances.  Re-blogged and suggested

Richard, I am currently working with a buyer that likes to see properties that have been on the market awhile. She thinks it will give her some advantage in negotiating.

Richard, 

Sounds like the sellers are still waiting for the prices of old to come back again.  Maybe they will or maybe they won't...they're just missing out on the buyers that are here today!

When a house has been on the market that long, there is usually something wrong with it. It may show poorly, or be difficult to show. It might be very dated. It might be owned by a smoker who smokes while showing you the home. It might have been decorated so strangely that buyers can not focus on the home, but on the foil wall paper or overwhelming smell of fake plants. It might have an attack dog who only allows you to see a part of the home. Or it might be a short sale where each room is locked by the tenant renting it. Or it could be the price. You'll never know until you go and see for yourself.

How do you spell OVERPRICED? And, yes, in my experience the seller won't budge to what it is really worth. UNTIL ONE DAY HE DOES. And that is usually when he's given it to another brokerage. Sad, but there it is. The lesson? Don't take an overpriced listing.