We can talk, can’t we?
Houses that have been on the market for more than 60 days (which includes 507/1,079 = 47% of NSDCC active listings) missed the hot season.
Buyers presume,
“If it hasn’t sold by now, something is wrong with the house, or the price.”
Some people use the days-on-market statistic has a primary search feature. Even if the list price has been reduced, just the longer market time can cause buyers and agents to miss the longer-listed properties.
So not only are those listings easier to pass up, the buyer pool in general is shrinking due to the time of year. It’s too easy for them to pack it in.
It’s going to get tougher for the older listings to find a buyer, unless they get aggressive on price. But how many sellers will knock 5% to 10% off their price? Not many.
Hypothesis:
1. The list price has to be at least 10% wrong if not selling for months.
2. Most unsold listings aren’t that far off. Buyers would be interested in many of the active listings at 10% to 15% under list.
3. Sellers are reluctant to chop that much off their price.
4. Buyers have to take the initiative.
My game plan here:
Jim, why do I feel like you are speaking to me on this video; or should I say, someone I know? Lol.
People, if you are considering working with Jim, do yourself a favor and get him into your fold. He is A+. His best qualities are: 1. he is analytical. He knows the data (just look around on this site for examples). 2. He is STRATEGIC, which you have to be when buying/selling in an open market.
Jim is two steps ahead of you, and you haven’t even hired him yet! Get good help.
Thanks BAM – I appreciate the support!
P.S. How many have I talked you out of buying so far? 😆