home buying 101: why do [seemingly good] homes sit on the market?

[Anonymous]

If it's a good neighborhood and otherwise a nice house, it's usually either 1. price or 2. the price is right, but the bank's appraiser was a nutcase and valued it too low for a loan to go through.

[Anonymous]

My experience is that either (1) the house is "perfect" but is priced just incredibily too high, or (2) the house has some minor "flaw" that can't be fixed (in the area I'm looking in, it's usually something to do with the lot not being flat or it is on a busy street and doesn't have a garage or parking space, or is next door to something undesirable) and wasn't originally priced to reflect that. Sometimes you see what looks like a fabulous listing, but as soon as you look on google earth and zoom out a bit, you immediately see what the problem is. After houses "sit" on the market they get "tainted" somehow. Like you, people think there's something wrong with them that they can't see. You can actually get a really good deal on such houses. We did.

[Anonymous]

Also, it is still winter. If a house was put on the market in November or December, it could be a great house, it's just that there are far fewer buyers in the winter.

[Anonymous]

I agree with 8:38. Sometimes, there really isn't anything wrong with the house, it was just originally priced too high. So, the sellers keep dropping the price but can't sell even when the price is right, because now the house has "the stink." Everyone thinks there's something wrong with it because it's been on the market awhile. Usually, these houses are the best deals and will sell well below market value.

This is why when you go to sell, you need to be realistic about price. It doesn't matter what price you want or need for your house, it matters what people will pay for it.

[Anonymous]

Pay close attention to the proximity and attitude of the neighbors houses! Crap outside? Disheveled curtains (sheets)? Car parts? Boats? Car port full of crap? This usually means mice, rats or worse, FYI.