Number mof days on a listing
Should the number of days that a property has been listed determine if I should consider purchasing a property? How should that factor in on my decision?
Most Popular Reply
@Wave Taylor usually there are 3 main reasons why a property seats on the market for long.
1. Asking price is too high.
2. Structural issues with the property, but the price is not reflecting it. ( if the properties good location with value add opportunity then it would be attractive AT THE RIGHT PRICE)
3. Marketing is no good, a Broker is not doing his or Hers job properly.
Bottom line is to investigate the reason, if the price is too high then time is often the best solution.
ie. make an offer and follow up with the broker / seller regularly. at some point they may become more realistic or motivated. OR they may get that price, because an investor from California will over pay.