Reply to Sellers who let their house sit on the market for months without price adjustments

Forum Index » Real Estate

Reply to "Sellers who let their house sit on the market for months without price adjustments "

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Or, house is paid off, relatives of owner (maybe passed away?) are in no rush [b]and want to get a certain amount of money.

Or, like one of my relatives with 4 homes, they can wait it out to get the number they want[/b][/quote]

OK, but this doesn’t work! The longer a house sits, the less attractive it becomes to buyers because they correctly assume there’s something wrong with it or others have deemed it to be overpriced.[/quote]

It depends on the market. Sometimes the market catches up and they get their price. But like pp's said, the seller doesn't need to sell so they don't care. We might be a seller like that soon. We plan to put our beach house on the market in the Spring. If we get our price then great, but if not then we'll keep it and rent it. It's not worth it to me to let it go for less than my number.[/quote]

This. Also if someone puts their house on the market late ..ie mid summer/fall it’s a different pool of buyers than in late winter/early spring. The late summer/fall buyers are the ones who weren’t buying urgently or are bargain hunters or trying to buy into an area or larger house than they can afford. If the sellers drop their price another 10 or 20%, those buyers will offer even less and try to knock down the price through the inspection asking for credits for things that were disclosed We ran into this as sellers but had moved out of the area and just wanted to be done. Buyers got a great deal. [/quote]
Late summer/fall buyers are also those who got shut out of the spring/summer market in bidding wars and are now super eager (desperate?) to get a place.  They're also folks who are less savvy and don't know that seasonal markets even exist.  [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics