When there aren't sellers in a corner of the market, or there aren't buyers, funny things happen
Scott P. Rogers
For every buyer there is a home, and for every home there is a buyer -- right? Well, it doesn't always work out to be so neat and tidy.
What happens when there aren't sellers?
Twice in the past six months I have listed homes for which the sellers and I could not find good comparables when we were pricing the home. We did our best in pricing the homes, and in the end our pricing was appropriate -- but we just couldn't find many similar homes that had sold anytime in the past year. And what do you know --- when each of these two homes (one around $200K, one around $250K) came on the market , there was a flurry of showings and an offer that resulted in a contract.
Sometimes, there are homes that are quite popular amongst buyers (based on size, price, location, acreage, etc) that don't become available too often. When they do become available, they sell quickly, because of the lack of similar sellers in the market.
What happens when there aren't buyers?
Unfortunately, sometimes the reverse takes place. There are plenty of homes currently on the market that show well, are marketed well, and just aren't selling. I typically advise people that it is either price, condition or marketing --- but it is possible optimize all three of those areas and still not sell your house. Selling your house, after all, requires that there are buyers (or at least one) in the market that want to purchase such a home.
Sometimes, there just aren't buyers looking for a particular type of home (based on size, price, location, etc) -- and thus these homes can languish on the market.
What happens when there aren't sellers?
Twice in the past six months I have listed homes for which the sellers and I could not find good comparables when we were pricing the home. We did our best in pricing the homes, and in the end our pricing was appropriate -- but we just couldn't find many similar homes that had sold anytime in the past year. And what do you know --- when each of these two homes (one around $200K, one around $250K) came on the market , there was a flurry of showings and an offer that resulted in a contract.
Sometimes, there are homes that are quite popular amongst buyers (based on size, price, location, acreage, etc) that don't become available too often. When they do become available, they sell quickly, because of the lack of similar sellers in the market.
What happens when there aren't buyers?
Unfortunately, sometimes the reverse takes place. There are plenty of homes currently on the market that show well, are marketed well, and just aren't selling. I typically advise people that it is either price, condition or marketing --- but it is possible optimize all three of those areas and still not sell your house. Selling your house, after all, requires that there are buyers (or at least one) in the market that want to purchase such a home.
Sometimes, there just aren't buyers looking for a particular type of home (based on size, price, location, etc) -- and thus these homes can languish on the market.
