Why would a home be on the market for well over a year? I have noticed that it is priced well above the Comps in the area. Could this be it?

Asked by Kilian.sondra, Miami Lakes, FL Mon Oct 21, 2013

This question was asked from http://www.trulia.com/property/3082416753-Single-Family-Home…

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7
Dudley Allen, Agent, Tamarac, FL
Sat Nov 2, 2013
All the answers are viable.
My motto is to be creative in buying and selling. I had a situation where a property was priced high as to show the IRS the seller was selling his home. We needed to do a 1031 exchange to a trust to help the seller with his situation.
Using your 401k you may buy investment property without incurring any early withdrawal penalties. Ask me how?
0 votes
David Fleish…, , Boca Raton, FL
Fri Oct 25, 2013
As others have said the accuracy of these sites is only as good as the info entered. Many listings can be inaccurate because they are syndicated from other dependant sites. However, an unrealistic price could also be due to the owner owing more on the property than it's worth. Ultimately they will need to realize this, and consider adjusting to a realistic number or remain in the house .
0 votes
Gary Hitchco…, Agent, Coral Springs, FL
Mon Oct 21, 2013
Bingo,you hit the nail right square on the head.
0 votes
Vivian & Kei…, Agent, Plantation, FL
Mon Oct 21, 2013
Killian, hi. Your question is honest and real. This situation is really confusing. There could be a number of things going on here.

First, these sites - Trulia, Zillow, etc. - aren't accurate. Often, homes listed here are not really still available. I'm sure other agents here will confirm this. It's a constant problem that we deal with.

Next, assuming the property is still available, there are only two reasons a home doesn't sell - the price is too high, or there is an uncooperative seller. That's pretty much it.

Here in South Florida we are in a "sellers' market." So if this property is still actually available, it is probably priced too high - or the seller is unrealistic.

I hope this helps, Killian. Of course, we would be very happy to help you find a home or investment that meets your needs. We pride ourselves in our ability to find the right property for our customers. Just let us know.

Best of luck!
Vivian & Keith Harmeyer
REALTOR-Associates
Ace Realty & Investments
Website: SouthFLRealEstate.net
Email 1: SouthFLRealtors@gmail.com
Cell: (954) 834-3349
0 votes
I will add that IF the latter, then a good agent will have dumped the seller a long time ago.
Flag Mon Oct 21, 2013
Edith Karoli…, Agent, Winnetka, IL
Mon Oct 21, 2013
Oh my, there could be a multitude of reasons, but of course once a property is that long on the market, nobody is going to be interested anymore it kind of becomes an old hat, many buyers will think that there is something wrong with the property, and the wrong they think could be in their minds all kinds of items, updates, amenities, floor plan, over priced..... But it could also be as simple as the owners do not need to sell but will or possibly would at the right price.... One will never know, but in a case like that,
the buyer's Realtor certainly will advise the buyers, that this Seller probably will not negotiate a lot on the price, or is may be not really willing to, or serious enough to sell...

The very best way to find out, Make an offer, an educated market friendly offer and see what the reaction is going to be.

Sincerely yours,
Edith YourRealtor4Life & Chicago and Northern Illinois Expert

Working always in the very BEST interest of her clients, Buyers, Sellers and Investors alike....
And always with a SMILE 
Covering for @Properties the city of Chicago, all N and NW suburbs, the fine homes on the
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HAVE THE MOST WONDERFUL DAY :)
0 votes
Meir Aloni, Agent, Plantation, FL
Mon Oct 21, 2013
It is up to the professional/Realtor to educate sellers (as well as buyers, of course)
If an agent is OK with taking a listing at an unrealistic price, that's up to them...
Personally, I will not like to see my For Sale sign growing roots.....

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Meir Aloni & Team

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0 votes
Yes This I like!!!!!!!!!
Flag Sat Nov 2, 2013
Thomas Moser, Agent, East Northport, NY
Mon Oct 21, 2013
I think you hit it on the head. Some owners think their house is worth more then the comps will support. And so it sits.
0 votes
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