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Sometimes you will just never know! We bought in a seller's market, with most homes receiving well over a dozen offers, with well over asking price and often even all cash offers; all within days of listing. Our house sat on the market for a lengthy two weeks when we put the offer in at slightly less than full price (we had to try!). It was rejected, we looked around another week, put in another offer on our home this time at full price. I really was very worried we had missed something about the house or neighborhood b/c it really was unheard of. Even after inspections, moving in and things seem fine, I wondered and wondered. 18 months later, I still wonder, LOL, but clearly it wasn't something enough to bother us b/c we cannot figure out why no one else put an offer in on it. It was probably a combination of factors adding up but overall I think we were just really fortunate!
And a house in the same neighborhood that we didn't offer on b/c we liked ours better? Received multiple offers and sold. It was priced slightly less than ours but not significantly so we figured if we were willing to pay that much for that house (busier street, not as recently updated, could use better landscaping, etc.) we may as well pay a bit more and make the full offer on our home. It ended up selling for a bit more than ours so must have received multiple offers. Go figure.
So that all is a lengthy way of saying sometimes the right people just haven't come along yet.
You haven't looked at the house yet and you're asking us if there's anything wrong?
No, not at all. We've looked at it twice, called the town about it, called the conservation commission, gotten estimates for the work that we think would need to be done. Nothing in any of these interactions has screamed "stay away from this house" so we're just perplexed as to why it hasn't sold. Houses we like less go in a few days for more money, so we feel like there must be something we're missing and just wanted ideas on what that could possibly be.
One home I bought was on the market for a very long time...
The owners would not let anyone view the property... offers were to be subject to inspection and full price only.
They effectively eliminated 99% of potential buyers...
The real question is what is sending buyers away?
Another home languished on the market... the seller was a new agent and offered 2% to buyer's agents... the talk was no one was going to show that listing and those in the business simply didn't care for the owner/agent.
Hard to sell if no one knows it's for sale...
As to price... people often search price... even a thousand dollars more and it will not show up in a search.
The tend here is to price on the low side... most sales are overbid at the moment.
When a home is overpriced, buyers looking for homes in that range disregard it because it doesn't stand up to the competition, and it doesn't show up for buyers looking in the lower range.
The sellers could have had it tied up for months with deals that fell through. Or may have been resistant to negotiating a more realistic price.
Look at it. Check out the property records. Talk to the neighbors about the neighborhood. See what you think.
When property is overpriced, it sells the competition.
No, not at all. We've looked at it twice, called the town about it, called the conservation commission, gotten estimates for the work that we think would need to be done. Nothing in any of these interactions has screamed "stay away from this house" so we're just perplexed as to why it hasn't sold. Houses we like less go in a few days for more money, so we feel like there must be something we're missing and just wanted ideas on what that could possibly be.
The seller's motivation to move and price are the differences between getting sold versus becoming a stale donut in the marketplace. The longer a property sits unsold the greater the difference between the seller 's original ask and closed sale price is all but a very strong seller 's market.
It's possible that this local market has caught up with the seller's asking price. A competent agent will know this.
I don't think you should be so paranoid. It could be any number of reasons, but if you like it then who cares if others didn't? My house had been on the market for about 5 months with zero offers when I came along. My neighbors told me there were quite a few showings. My house was a foreclosure and it needed a good bit of cosmetic work and was priced pretty high considering how awful it looked. I'm sure a lot of people took a look and thought nope, no way. But, I had someone to help me fix it up and I still can't believe the offer they ended up accepting. WAY lower than I ever thought they would go for. You just never know.
No, not at all. We've looked at it twice, called the town about it, called the conservation commission, gotten estimates for the work that we think would need to be done. Nothing in any of these interactions has screamed "stay away from this house" so we're just perplexed as to why it hasn't sold. Houses we like less go in a few days for more money, so we feel like there must be something we're missing and just wanted ideas on what that could possibly be.
Sometimes it's just floorplan that some people don't like. Maybe they didn't like the location of the master or how the kitchen lays out. Not every house is for everyone, but there is a person for every house. This might just be the house for you. Go in with a good offer, and they're probably ready to receive something, anything, so don't lowball, but go in a little lower than you think would fly.
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