If a property has been on the market for a long period of time, the owner might now just be desperate to get out of the situation. Real estate agents can gather this information for you – let you know how long the home has been on the market and if there have been fluctuations in the price being offered.
There are a number of variables though, perhaps there’s something wrong with the land or you might see something that others don’t—structural problems or the neighborhood is becoming run down.
If the property has just been on the market a long period of time because of market trends, and the neighborhoods has a positive outlook, maybe you can scoop up the property for a lower price – doesn’t hurt to ask.
On the other hand, the property might just be on the market because and there’s a fairly cheap solution—a new roof or simply landscaping. Or maybe you have an idea that will increase the value of the property and not require much capital. Gauge the owner—is this person from out of town, is this person going to retire, what are they looking for by selling the property?
Selling in Season
If you’re selling a property, the price might not be the only factor that dictates how many people are viewing the property. There are seasonal ebbs and flows, especially if your area is hit hard with a storm, the weather and road conditions can dictate some level of interest. Consider when you’re going to put your property on sale – try to avoid the worst of the weather. As for the buyer, this might be the best time to buy a home when the weather’s not so sunny, you’ll have less competition.
Also, now, via the Internet and your real estate agent, you can put a slide show and virtual tour of your property on the real estate agents site. Gone are the days when property was purely listed in the classified sections of the local paper.
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