Long-in-the-Tooth Listings
Even in a Seller’s market where listings vanish in the blink of an eye, they’re out there: homes that have been on the market, through rain and shine, winter and summer, seemingly year after year.
What gives?
Or perhaps more to the point, is there an opportunity to be had?
“Days Years on Market”
From the perspective of potential Buyers, guess the best possible explanation for such long-in-the-tooth listings:
A. The home is seriously overpriced (still).
B. The home needs substantial updates (see “A.”).
C. The home’s floor plan is off.
D. The showing instructions are so restrictive (“Monday, Wednesday, and Thursdays between 11 a.m. and 1:30 p.m.”) that no one can get in.
Answer: “D.”
The catch for prospective Buyers?
The same owners who strangle their listing with such restrictive showing instructions also tend to have overpriced, dated homes beset with multiple issues (like, a challenged floor plan).
