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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]You couldn’t be more wrong.

About half my neighborhood is elderly people and half young families.

When the old people want to downsize they find a house they want to buy somewhere warm and slowly move. They can afford both because the family house has been paid off for years. Spending a year snowbirding in the warm climate and coming home a few more times is not unwelcome—it probably sounds kind of nice.

Realistically, the old people are not going to care of their house sits on the market for a year or two if there’s any chance that they could get top dollar for their property.

Only the young families relocating feel pressure to sell quickly so they can roll over equity into their new house.

[/quote]
Seeing a house that's on the market for over a year is a serious turn off. Most buyers will assume something is wrong with it or the sellers. If the property is vacant because the sellers have moved out already I would also not touch it because long vacant properties tend to develop problems that aren't addressed fast enough. I would never touch a property that was on the market for more than 3-4 months at this point. [/quote]

+1.  No one wants to deal with sellers who have an unrealistic idea of the value of their house.  It just leads to wasted time.  [/quote]

You're wrong.  Many people don't want to deal with those sellers, but not no one.  Certainly they've cut down the buying pool, but when inventory is low (and we are at historically low levels of inventory), then you often have buyers who have a short fuse and need to be moved in who will buy as long as there are no major issues.  So, if the house has no major issues that an inspector would find, then they an sit on an overpriced house looking for a desparate buyer.[/quote]

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