I am looking at a rental property that I am interested in but it's been on this site for 91 days. Should that be a concern?

Asked by Cloakofstars9, The Colony, TX Wed Sep 26, 2012

Could that be a warning sign that something is wrong with it?

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Raymond Edler, Agent, Dallas, TX
Wed Nov 14, 2012
The extended days on market could be due to multiple reasons. Location, condition and price are the 3 highest determining factors of how fast a property will move. Some secondary considerations could be a current tenant who was not moving out for a couple months, a landlord with a high standard for credit profile, etc.

The most often frustration we run in to is once an application is approved, deposit is made and lease is signed the listing agent should move the status to pending. This is not always the case. I get calls every week of listings that were leased or sold weeks, sometimes even months ago. Have your agent check the MLS or call the listing agent to get the latest status. Usually the best way to get the full story is from the source.

Raymond Edler
Texas Broker
Keller Williams Realty
0 votes
Bruce Lynn, Agent, Coppell, TX
Wed Sep 26, 2012
Yes, the best properties tend to rent very fast these days, but there could be lots of reasons.

It's hard to rent if they're occupied, or had pets, or if it was during a rennovation, so there could be other explanations.
0 votes
Dallas Texas, Agent, Dallas, TN
Wed Sep 26, 2012
I doubt it .. could be agent forgot to remove from all listings

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0 votes
Don Groff, Agent, Austin, TX
Wed Sep 26, 2012
I would have your agent take a look at the MLS listing for you. May have been leased already or it may be overpriced or have issues with move in condition. Hard to say but the only way to know for sure is to check it out yourself if it is still available. Rental units are going fast these days in most areas.

Don Groff
REALTOR® | Mortgage Broker
Keller Williams Realty | 360 Lending Group
o 512.669.5599 m 512.633.4157
listings@dongroff.com | http://www.AustinListed.com
0 votes
Mike Gonzalez, Agent, The Colony, TX
Wed Sep 26, 2012
Could have already been leased out (or at least accepted another application) and status hasn't been updated, might have been initially listed with a future available date (listed in June but not available until September), or possibly it's a stagnant listing either because of price and/or condition. If you like what you see online, go take a look at it and make your own decision on whether there's something wrong. Might turn out to be a great home that others have erroneously discounted because it's been listed too long.

Good luck.

Mike Gonzalez
SFR-Certified REALTOR® / Broker-Agent
Mosaic Realty
214-783-4240 | Mike@MosaicDFW.com
0 votes
Brent Rice, Agent, Plano, TX
Wed Sep 26, 2012
Occasionally, the properties on this site are not updated when they lease/sell. Please call or text me the address and I'll confirm for you it's current status. If it's still Active, then I can examine it further to determine the answer to your questions. I'm located across 121 from The Colony, so I'm very familiar with the area. Call or text me at 214-808-3100 now. Thank you! Brent Rice, The Rice Group, Inc.
0 votes
Tim Moore, Agent, Kitty Hawk, NC
Wed Sep 26, 2012
Time on market means little these days. Each market is different. I have 10 homes for sale and half have been on the market 200+ days. No big deal here where the average is well over 200 days. Often a house over priced will stay on the market longer, is anything wrong with the house? No, just over priced. You have to go see and check it out.
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