the house we like has been on the market for 30 days and our offers is the first one , what could be a possible reason ?

Asked by Maggie, West Hills, CA Sat Jun 16, 2012

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Annette Law…, Agent, Palm Harbor, FL
Sun Jun 17, 2012
BEST ANSWER
Grand intervention! This home was kept off the radar of ALL other buyers so it would be available for YOU. You should celebrate, not question the grand designers intention.

If only 10 comparable homes a month sell in that area and market, what has occurred is not unexpected. Don't question your good fortune, you glass is truly half full.

This home may have attributes that would appeal to a very narrow segment of the buying population, and that segment apparently contains you. It may be the library, the park like yard, baking workstation or the hidden/secret room behind the bookcase on the landing. Some fall in love with the work bench and space in the garage. The 'hooks' are endless. But you found the one....Celebrate!

Now, it is fully possible that skeptic eyes can sabotage your negotiations for this home. Is this home in alignment with your goals? Don't let the paranoia of the existence of something you don't know, you don't know, be the cause of losing something preserved for you.

Of course, do the inspection, be aware of the major, cosmetic and maintenance concerns, visit the community at various hours and days. The celebrate your good fortune.

Best of success to you,
Annette Lawrence
Broker/Associate
ReMax Realtec Group
http://www.FloridaRealEstateMadeEasy.com
0 votes
Annette , your answer hit the spot ... thanks so much
Flag Tue Jun 19, 2012
Phillip Allen, Agent, SAN DIMAS, CA
Wed Jun 19, 2013
Well, there are too many possible answers to your particular question; your broker should have already provided the correct answer and advise... however, if you're not satisfied continue to press for answers...

Not sure I would consider replys from agents not in the specific market... I'mjustsayin'
0 votes
Diana Margala, Agent, Rancho Cucamonga, CA
Mon Jun 18, 2012
I'm not exactly sure what you are asking, however if you are asking because you made an offer, that offer was accepted and it is still showing available or if you have not received an answer to your offer at all.

If for some reason the seller did not like your offer, example: your offer was too low, your financing wasn't acceptable, then the seller does not have to respond to your offer and can leave it on the market, until they get an acceptable offer. Have your agent call the listing agent and ask what happened.

Also they could be in multiple counters, but after 30days that doesn’t seem likely.

If it is a short sale, then possible the agent representing the seller doesn't understand the process. The seller is suppose to accept one offer subject to the SSA (banks agreement with the terms), and they are suppose to return to you an accepted offer with the contingency of the bank granting them the ability to sell the property. (According to the contract, this should be done in the first 3 days). There can be counters back and forth until the seller picks an offer to present to the bank.

Some agents don't understand this process and they do not send the buyer a proper response so in reality that is not an accepted offer.

Some agents gather all of the offers and send all of them into the bank, which in reality is also wrong because it is still the sellers property and it is still the sellers decision.

Some agents leave the property showing available when they have an accepted offer into the bank, which is also wrong, against MLS rules and very confusing to other agents and buyer.

Your agent should be the one that can help you with your specific situation. If he or she doesn’t know then call their broker for help.

Diana Margala (909-560-0145)
Web Reference:  http://www.dianam.com
0 votes
Don Tepper, Agent, Burke, VA
Sun Jun 17, 2012
Lots of them. (Your Realtor can probably help narrow it down.) Among them:

Overpriced. Overpriced houses will get few or no offers. But that shouldn't scare you, so long as you make an offer at or below the property's market value.

Unusual/unique. The more unusual a home is, the less likely it is to get offers. And sometimes all that means is that you're trying to sell a Cape Code in a neighborhood mostly of Colonials. Sometimes it means no swimming pool when all the others do. Or it can mean some unusual appearance or design.

Condition. Houses in less than perfect condition scare away lots of buyers. That can be as simple as old carpeting. Or it can be a house built in the 1960s that hasn't been updated.

Market conditions. (Though 30 days often isn't that long.) In some areas, even properly priced homes in good condition can sit on the market for 90 days or much longer.

Normal conditions. As noted below, for many areas (even relatively healthy ones) 30 days isn't that long.

Poor marketing. Although the primary form of marketing really is getting a house on the MLS, there are other things that can and should be done.

FSBO (for sale by owner). There's nothing wrong with a FSBO, per se. But it's likely to have one or more of the problems listed above (poor marketing, overpriced, etc.). So a lot of FSBOs will just sit on the market.

Poor neighborhood. The house itself may be nice, in good condition, and reasonably priced. But maybe the house next door has a couple of junk cars up on blocks in front. Or there's a cluster of vacant houses on the next block.

And there are plenty of other reasons. Again, your Realtor can probably provide more guidance on what the reason is for your particular house.

Hope that helps.
0 votes
Lisa Wozniak…, Agent, Highland, IN
Sun Jun 17, 2012
I think you should be happy you are the first one! In my market, we have lots of homes for sale, and that gives buyers a lot of options. When buyers have lots of options and new homes are always coming out, sometimes it takes them longer to decide on a house. It feels like there is something new out each day they want to look at and not possibly miss. Then, when they want to go back to the home they did like...its usually gone because they waited too long to make a commitment.
Congratulations for you, though, because you found a home you absolutely love (I hope) and wanted to make an offer!
I personally wouldn't question why something has been on the market for 30 days...thats not that long. If a home has been on the market for 280 days, however, well, I would bet it started at a high price and the sellers were unrealistic in value. Another reason is maybe their agent didn't market it properly, too.
0 votes
Christopher…, Agent, Tarrytown, NY
Sun Jun 17, 2012
There are many answers to this question, price, marketing, and amount of buyers are three that come to my mind. When a property is first listed it can take a few weeks for the marketing to fully absorb into the market. Typically your first offer is going to be your buyer, not guaranteed though.

Chris
0 votes
Bill Eckler, Agent, Venice, FL
Sun Jun 17, 2012
It often takes several weeks to completely execute an effective marketing plan for a newly listed property. As others have contributed, 30 days is not an excessive amount of time for a property to receive offers.

As always, to protect your interests be sure to take advantage of having a comprehensive inspection of the property with a contingency that allows you to back out without penalty should the inspection reveal serious concerns.

Best wishes with your offer.

Bill
0 votes
Joseph Finne…, Agent, Bethlehem, PA
Sun Jun 17, 2012
Hi Maggie,

30 days on the market really isn't that long and I wouldn't read too much into it. Sometimes, it can take a few weeks for a listing agent just to get all of the marketing put in place on a property.

If you are interested in the property have your agent pull sold comparables to see if the pricing seems correct and make an offer. If you just noticed the property (after 30 days) another perspective buyer may have also just noticed it.

Best of luck.

Joe Finnerty
Prudential Patt, White Real Estate
Lehigh Valley, PA
http://www.lehighvalleyhomesonline.com
0 votes
Dan Tabit, Agent, Issaquah, WA
Sat Jun 16, 2012
Maggie,
Hard to tell, but I've found that one offer often leads to more. I can't tell you how many times I've had a listing sitting on the market longer than expected, only to have an offer come in, followed by more.
Your agent would be the best one to advise you if there are some limiting factors to the home such as location, marketing, pricing etc.
0 votes
Alain Picard, Agent, Puyallup, WA
Sat Jun 16, 2012
I would ask your real estate agent why he or she thinks there hasn't been any offers. The previous answers here are probably correct.
0 votes
George Malh…, Agent, San Dimas, CA
Sat Jun 16, 2012
Depends what type of sale. MOST LIKELY... Short sale which is typical
0 votes
Trinidad Gae…, Agent, Diamond Bar, CA
Sat Jun 16, 2012
Overpriced, condition, location. Every situation is unique but those are just a few possibilities.
0 votes
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