Lingering a Little Long???

Written by: rebecca and filed Under Buyers, Real Estate |

Recently someone posted a challenge to real estate experts on a community forum as to why a seemingly lovely home on the Sammamish Plateau has been on the market for reportedly over 300 days and how that relates to the overall state of the real estate market in our area. While I have not had an opportunity to tour this home yet, it does appear that it has been well maintained and has some nice features. The question specifically mentioned that the home has been on the market for around 300 days but my data indicates that it has only been listed in the MLS since September 4th (about 173 days). This is about two months longer than the King County average of 114 days. For all of King County the Average Days on Market has increased in January 2009 by 20 days over January of 2008.

So to answer the question – why is this home taking so long to sell?? #1 – Based on my research it hasn’t been on the market all that long compared to county averages. #2 - The biggest downfall that this home appears to have is that it is a split entry. In ten years of real estate I have found that most buyers tend to avoid a mid entry home if they can. There is nothing wrong with a mid-entry home but for aesthetic reasons, a majority of buyers tend to avoid them. A mid –entry home almost always sells for less per square foot than a rambler or traditionally two story or even a tri-level home.

All that being said - if someone is looking to make a purchase now, I would advise them to be educated about the process and assertive in what they ask for. If they are looking to purchase for the long term (5 plus years) I believe that they will likely be making a reasonable if not good investment provided that they stay within their means.

Comments

One Response to “Lingering a Little Long???”

Issaquah Homes for Sale on September 18th, 2009 10:04 am

Hi Rebecca,

There is a interesting find that you pointed out. I guess now the listing agent just needs to find someone that is interested in a split level home.

Cliff

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