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Why would a house sit on the market for a while?

There is a house I'm interested in that looks to be priced fairly but it has been on the market for 4 months. Why would this be?
Asked By Ricky Hasan | Fort Lauderdale, FL | 311 views | Buying | 1 year ago
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Rising Star
16 Answers
Keith McKeever

Fathom Realty Central IL

(9)

There could be many reasons why this is the case. Keep in mind that the photos of property could be misleading in a way. Sometimes poor quality photos, bad angles or angles that avoid something unsightly are used. There is no substitute for seeing a property in person and getting a feel for the place. Perhaps there is a smell in the house, poor layout, issues that have come up during past inspections, the neighborhood etc. It could also seem like a decent price to you but be overpriced for others. Also keep in mind for the past year homes in many markets around the country have sold very quickly because of low inventory creating a sellers market. That is changing in some places and having a month or two on the market may be more "normal" in an area now than it has been in a long time.
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Semi-Pro
42 Answers
Brian DiMaggio

Atlanta Communities

(23)

It all comes down to price. If a home is priced correctly it will sell. Even if it has major major issues. If the price reflects that then it should sell, given it may take a little longer than usual.

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Novice
4 Answers
Marianne Windridge

Berkshire Hathaway HomeServices Florida Realty

(35)

There may be issues with the home that are not readily apparent. If the home has gone under contract several times and come back on the market then I would almost be certain that the home is failing inspection. There could also be issues such as an older roof, older electric panel or something similar that would prohibit a buyer from being able to insure the home. If the house is priced fairly I would assume it would be one of these issues.
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Novice
4 Answers
Raymond Cabral

MVP Realty Associates LLC

(23)

There are several reasons why a house may sit on the market for a while before being sold: Overpriced: If the asking price is higher than the market value, it may take longer to find a buyer. Poor condition: A house that is in poor condition or needs repairs may take longer to sell, especially if the seller is not willing to invest in necessary repairs or upgrades. Poor marketing: A lack of exposure or ineffective marketing can make it harder to find buyers. Location: If the house is located in an area that is not in high demand, it may take longer to sell. Competition: If there is a high supply of similar properties for sale in the same area, it can be more challenging to sell a property quickly. Timing: The real estate market is influenced by many factors, including seasonality and overall economic conditions, which can impact the time it takes to sell a property. In order to overcome these challenges and sell a property more quickly, it may be necessary to adjust the asking price, invest in repairs and upgrades, improve marketing efforts, or seek the assistance of a real estate professional.

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