The Serial Cancel-and-Relist Property
If early May is when perennial flowers bloom (at least in Minnesota), it’s also when the real estate equivalent (re)appears: the oft-listed, oft-cancelled property that comes back on the market each Spring after not selling the previous season(s) — albeit at a better price.
By definition, these properties are characterized by one (or more) of the following three attributes:
One. “Patient” (unmotivated) Sellers, presumably with deep pockets;
Two. Aggressive asking prices (at least once upon a time);
Three. Rarified market niche without much competition or near-substitutes.
That last attribute can include price (upper bracket); location; and style or features (the truly unique, one-of-a-kind property).
Oddly (or not), such Sellers often attract Buyers much like themselves: patient, deep-pocketed, and looking for truly unique properties (albeit at a good price).
See also, “Buyer – Seller Resemblance.”