A question that people often ask – Why do some homes spend up to 200 days on the market?

I’m sure you’ve heard it happened to somebody you know. A person lists a home for sale and it sits on the market for a very long time. Why is this? While there is no one answer for every solution, in 90% of the cases it’s the seller’s inability to accept the reality of the current real estate market.

It’s a blow to your ego to realize that your home is not worth what you think it is. You’ve put a lot of work and love into it and naturally you want to receive top-dollar. But with market fluctuation, your home may have been worth more last year and less this year. Sometimes it’s all a matter of timing. The buyer base just may not be there right now.

In such a situation, it’s dangerous to leave your home on the market at the higher price. This often results in a very long time on the market, which makes potential buyers even more skeptical of your home. A listing that’s been around for too long is a red flag in people’s minds. They assume – rightly or wrongly – that there’s a hidden problem with it. You have to ask yourself, “Am I willing to see things for how they really are or cling on to what my ego tells me my house is worth?” Reality is reality and there’s nothing any of us can do about it. On the Raveis.com site you can access listed and sold homes in a designated neighborhood. You can access neighborhood mapping from the homepage of raveis.com by clicking on the Mapping link.

For accurate, thorough and detailed property values in your neighborhood, or for any real estate questions, give me a call.

Anne Scott www.RidgefieldRealEstate.com H. 438 – 2284 Office 431 - 8850