When buyers see a home that has been sitting on the market for weeks or months, their first reaction is often to wonder what’s wrong with it.
But overlooking those properties automatically could mean overlooking an opportunity.
Keeping Current Matters highlights data showing a connection between longer market times and price reductions. As homes remain available longer, sellers may become increasingly motivated to make a deal.
And a longer time on the market doesn’t always mean the property has a major problem.
Sometimes a home started with an ambitious asking price. Maybe the original photos didn’t present it effectively. Or perhaps there are simply many competing properties available nearby.
Those factors can cause a perfectly viable home to receive less attention.
For buyers, that can create negotiating opportunities.
Depending on the circumstances, a motivated seller may be willing to discuss the price, closing costs, repair credits, or other concessions.
Of course, every lingering listing deserves careful evaluation. Reviewing comparable sales, disclosures, property condition, inspection findings, and the listing history can help determine whether the home represents genuine value.
Instead of automatically filtering out homes that have been available for a while, consider giving them another look.
The Suarez Team can help you identify overlooked properties and determine where there may be an opportunity to negotiate a better deal.
Source: Keeping Current Matters.
