“Back on market”

[Anonymous]

I see this now on quite a few of the listings that pop up on my Redfin alerts. What are the likely causes? Financing, appraisal or problems with the house?

[Anonymous]

It could be any of the things you listed, how would we know?

[Anonymous]

I think it it due to rise in rates and some people didn't lock in rate (I don't blam them locking in a rate is expensive). I am seeing this more also in my part of Virginia.

[Anonymous]

Anonymous wrote:Financing, appraisal or problems with the house?

Yes.

[Anonymous]

Anonymous wrote:I see this now on quite a few of the listings that pop up on my Redfin alerts. What are the likely causes? Financing, appraisal or problems with the house?

Mostly issues with the houses on inspection and they buyers walked or the house didn't appraise for the offer amount and the sellers won't budge on lowering it and the sellers won't pay cash for the difference (who would in this market). Anyway to me those houses are tainted because the will refuse to tell you the truth and it means the sellers aren't flexible at all to get the house sold.

[Anonymous]

Anonymous wrote:I see this now on quite a few of the listings that pop up on my Redfin alerts. What are the likely causes? Financing, appraisal or problems with the house?

Financing problems. Def.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I see this now on quite a few of the listings that pop up on my Redfin alerts. What are the likely causes? Financing, appraisal or problems with the house?

Mostly issues with the houses on inspection and they buyers walked or the house didn't appraise for the offer amount and the sellers won't budge on lowering it and the sellers won't pay cash for the difference (who would in this market). Anyway to me those houses are tainted because the will refuse to tell you the truth and it means the sellers aren't flexible at all to get the house sold.

It’s not inspection issues. Yes those happen, but they happen all the time and didn’t suddenly become a thing.

The recent bump in back on market around here is mostly because these people started shopping at ~6% rates and the latest rates are averaging 7.5 - 8%.

[Anonymous]

How long did it take go back on the market?

[Anonymous]

I’ve seen listings that said it was financing. If it’s not a problem with the house, the listing agent will let it be known.

[Anonymous]

For us it was an underappraisal. Since this is technically related to financing, I wouldn't put it past an agent to tell future buyers that "financing" was the cause.

[Anonymous]

In the category of the crazy things realtors do, couldn't "financing" mean, "buyers never got financing because they backed out due to the inspection."

[Anonymous]

Anonymous wrote:In the category of the crazy things realtors do, couldn't "financing" mean, "buyers never got financing because they backed out due to the inspection."

No

[Anonymous]

Anonymous wrote:

Anonymous wrote:I see this now on quite a few of the listings that pop up on my Redfin alerts. What are the likely causes? Financing, appraisal or problems with the house?

Mostly issues with the houses on inspection and they buyers walked or the house didn't appraise for the offer amount and the sellers won't budge on lowering it and the sellers won't pay cash for the difference (who would in this market). Anyway to me those houses are tainted because the will refuse to tell you the truth and it means the sellers aren't flexible at all to get the house sold.

I'm neither a buyer nor seller right now. I wouldn't consider a return to market to be "tainted." Buyers play a lot of games too. Sometimes they make an offer for a price they never intend to pay, then try to renegotiate for an absurd reduction after inspection. Sometimes buyers either can't get financing or they didn't realize how high their payments would be so they back out. Or they're first time SFH buyers and they get terrified of minor stuff from an inspection.

We always turn on sinks, open windows, look at electrical, plumbing, HVAC systems, foundation, roof, ceilings for evidence of leaks, etc. before we make an offer. Look around and turn on stuff. Sometimes something unexpected is found during the inspection, but a lot of times buyers just don't look around then are surprised with the inspection results.

[Anonymous]

I would say financing - in that the homes are not appraising. You have a lot of sellers who still have their 2021-2022 glasses on.