Home Buying in Alhambra>Question Details

James, Home Buyer in Rowland Heights, CA

Why has the house on 56 Hampden Ter, Alhambra CA 91801 been on the market for 157 days now. I am interested in this house, but it kind of scares me

Asked by James, Rowland Heights, CA Sun Feb 28, 2010

that its it is a good price, seem like a good house, but its been market for that long?? Any input as to why?

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Answers

4
Dan’s answer
Location plays a big role with that house. It is on the border with El Sereno, which has some serious gang problems. Look at the crime map overlay on the Trulia web site and you'll see higher crime along Huntington, especially in El Sereno. I'm looking but won't buy along the El Sereno border. Schools also might play a role because that area is served by Emery Park Elementary, which doesn't have as high of test scores. Those issues lower the demand, which will affect price. The bank might not understand those nuances to the local market and wanted to hold out for more (or were just inept in accepting an offer). Good luck.
0 votes Thank Flag Link Thu May 24, 2012
It's a duplex and it is in escrow. It's a short sale, depending on who the banks are that the listing agent has to deal with and whether or not the 1st or 2nd buyer walked because they got tired of waiting on and now are possibly on a 3rd buyer, 157 days isn't too too bad.

The owner had tried to sell many times prior but didn't reduce his price fast enough at the right time to avoid short sale, hence the now, listing price of $400K.

Let me know if you'd like me to get more information, see where the deal is at right now, if the current buyer is sticking with it, find out who the banks are, maybe you could be the primary back up buyer.

emilyknell1@yahoo.com
562-430-3053 cell
0 votes Thank Flag Link Mon Mar 1, 2010
James,

I wrote a five part series on "Why hasn't my home sold yet". It may give you some answers to your very reasonable question.
http://www.trulia.com/blog/dave_sutton_windermere_walnut_cre…
0 votes Thank Flag Link Sun Feb 28, 2010
Hi James,
I can't answer specifically about that particular house, but I can tell you the reason most homes stay on the market too long and that is price. If the price looks good to you, I would recommend that you contact an excellent Realtor to take a look at the property for you. We are trained to see "red flags" and to protect you from getting into problems with Real Estate.
Best of Luck to you
0 votes Thank Flag Link Sun Feb 28, 2010
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