“My Client is Looking at a Home that has been on the Market for 421 Days”

Maggie sent me the listing information, what immediately got my attention was the number of days the property had been on the market. All kinds of flags went up, I suggested that she discuss the history with her Realtor. She sent me the history within a few minutes.

Originally listed for $309,900, price reduction to $299,900, price reduction to $279,900, price reduction to $269,900, price reduction to $249,900 which is where we are now. Maggie told me that her Realtor felt the property was overpriced and a $220,000 mortgage is what will be presented. It is always difficult to understand some of this history, this property was listed badly right from the start.

What I don’t understand, why would someone take a listing so overpriced? This is a disservice to the sellers and every Realtor that might have had a prospective buyer for this home all these months. Not sure how many offers there has been or if there had been any. Hopefully buyer and seller can work out an agreement.