Home Buying in 01453>Question Details

Kelly, Home Buyer in 01453

How can I find out how long the property has been listed on the market?

Asked by Kelly, 01453 Sun Sep 6, 2009

I am looking at a particular property in Leominster, and I'm wondering if someone can help me...I would like to know how long it has been on the market. I love the townhouse, and I would like to know how much the asking price is. I am anxious to make an offer!

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6
Kelly,
It should be easy for me to look it up through the MLS system. What is the address of the property? Or, if you are working with a Buyer's Agent, you can ask them for a full market history, which will not only tell you how long it's been on the market, but if it has gone under agreement during that time, and what price changes it has gone through.
Rachelle
1 vote Thank Flag Link Sun Sep 6, 2009
Ask any agent for the days on market for that particular listing and the property history for that address (in the event that it has been listed more that one time). If you are looking at a property listed in the MLS/Pin system (which covers 80% of Massachusetts) all of that is a few clicks away. Good luck!
Web Reference: http://www.robertmbyrne.com
0 votes Thank Flag Link Sun Jan 17, 2010
My office in located in Leominster and I would be pleased to meet with you to go over the details of the townhouse and everything that goes along with making an offer. Please feel free to call me at 978-621-0515 or email me at colleen@acresawayrealty.com
Web Reference: http://www.cloprohomes.com
0 votes Thank Flag Link Tue Nov 17, 2009
Hi Kelley

Working with a Buyer's Agent is the easiest way to get the information on specific properties. There is no charge to work with a buyers agent and that agent looks out for your best interest. Lisitng agents represent the seller and it is there duty to get the highest price for a property. A buyers agent represents you and has your interest first.

Working with a buyers agent allows you to get the information and research on all current properties and will help you to submit a fair offer on the property. It really does not matter on the time frame that a property is on the market - what matters is that a fair price is offered. If I can be of any further assistance, pleas econtac tme.

AMS, Real Estate, Westport, MA 774-264-9117
0 votes Thank Flag Link Sun Sep 6, 2009
Hi Kelly,

I am an agent with Prudential Prime Properties and specialize in the Worcester County area. There are many townhouses for sale in Leominster - ones in the Village of Fallbrook, Fox Meadow, Applewood Condos, Wildwood, Litchfield Gardens, etc. plus some half duplexes as well. If you can give me the address or MLS number of the property you're interested in, I'd be happy to work with you and get you in to see the property and/or get you any information you're asking for on Trulia.

I can also help you set up a saved search for the type of properties you're interested in, so let me know if I can be of any further assistance to you.

Angela Dolber
Prudential Prime Properties
508-826-8553
angela@pruprimehomes.com
0 votes Thank Flag Link Sun Sep 6, 2009
It'll be in the MLS, so any agent can help you. Just understand that there are really two numbers: "DOM" (for "days on market") and "DPOM" (days property on market). "Days on market" shows the number of days in the current listing. However, if a property was listed, then expired or was withdrawn, then relisted, the more accurate number is the other one. Different MLSs have different policies on how long a property has to be off market, etc., for the DOM to reset.

Recognize, though, that days on market isn't always an accurate indicator of a good value or a poor value. If it's a really good value, then of course it's likely to go under contract quickly. Longer days on market--in traditional markets--generally meant the home was overpriced. And, in many cases, that's still true. However, it might be a very good value for you, yet still have a long DOM. Or, in today's market, it could mean that the home simply doesn't show well and while the fixes wouldn't be expensive or time-consuming, buyers are just skipping past it. Or, in a lot of areas (such as townhouse complexes) there really may be two markets: (1) the short sales and foreclosures, and (2) the others (the "traditional" sales). Example: In an area in Northern Virginia, some townhouses (3 bed/1.5 baths) had sold for about $350,000 at the peak of the market. Back in January and February, the only homes on the market were foreclosures at about $70,000. There were no "traditional" sales. The foreclosures have gone up in price to about $125,000, and some people who'd bought years earlier have theirs on the market for maybe $175,000. So, you've got two markets now--$125,000 for foreclosures and $175,000 for the others--and two very different DOMs.

That's a long way of saying that while DOM is something you should know, it's not really the primary determinant on what your offer should be. Pay closer attention to the comps, and to whether you really want the place and would be happy living there.

Hope that helps.
0 votes Thank Flag Link Sun Sep 6, 2009
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
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