“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.
Why Now’s Not the Time To Take Your House Off the Market
By keeping your home on the market, you increase the chances of attracting people who are truly ready to make a purchase.
Now’s the Time to Upgrade to Your Dream Home
A recent survey reveals the top motivator for today’s homebuyers is the desire for more space or an upgraded home.
This Is the Sweet Spot Homebuyers Have Been Waiting For
If you’re waiting for the perfect time to buy, it’s important to understand that timing the market is nearly impossible.
Buying Beats Renting in 22 Major U.S. Cities
Whether you live in one of these budget-friendly cities or any town in-between, it’s time to to talk a local real estate agent to get started.
Don’t Fall for These Real Estate Agent Myths
Don’t let myths keep you from the expert guidance you deserve. A trusted local real estate agent isn’t just helpful, they’re invaluable.
The Down Payment Assistance You Didn’t Know About
Believe it or not, almost 80% of first-time homebuyers qualify for down payment assistance, but only 13% actually use it.