
“A lingering listing with no takers…”
A lingering listing with no takers … how long does it take until the home seller to accept that a price reduction is needed? The most common answer was three months, if there have been zero offers, according to a new survey by ShelterZoom, a blockchain-based real estate platform.
Thirty-three percent of 1,000 consumers surveyed say they would opt for a price cut after three months, the most common choice. Slightly under 20% say they would wait just one month; 17% would wait five months; and 9% say they’d wait an entire year before they’d consider reducing their asking price. The remainder say they would never lower their asking price.
But waiting for and receiving an offer can be stressful. Home sellers said they’d like some extra assurance when offers are presented to buyers. Forty-eight percent of respondents said they’d like to ensure that their offer was presented to the seller and to track it every step of the way.
And when an offer does come, home sellers wish the process would speed up. Forty-eight percent of consumers surveyed said they think it takes too long to get a mortgage approved. Thirty-six percent say it takes too long for contracts to be signed and 34% believe too many people are involved in the process.
“When you consider how fast everything moves these days, thanks in large part to technology, and how short attention spans and expectation spans have gotten as a result, the home buying and selling processes are even more of an anachronism than they were just a few years ago,” says Allen Alishahi, co-founder of ShelterZoom.
To view original article, visit REALTOR Magazine.
Should I Buy a Home Right Now? Experts Say Prices Are Only Going Up
If you’re debating whether to buy now or wait, remember: real estate rewards those in the market, not those who try to time it perfectly.
Are Investors Actually Buying Up All the Homes?
The idea that Wall Street investors are buying up all the homes and making it impossible for you to compete is a myth
Is a Newly Built Home Right for You? The Pros and Cons
An agent can walk you through the pros and cons of considering a newly built home and help you decide if it makes sense for you.
How To Buy a Home Without Waiting for Lower Rates
Even if mortgage rates don’t drop substantially, there are still ways to make buying a home more affordable.
Do You Know How Much Your Home Is Worth?
The only way to get an accurate look at what your house is really worth is to talk to a local real estate agent.
Buying a Home May Help Shield You from Inflation
A fixed-rate mortgage protects your budget, and home price appreciation grows your net worth.