A LOT of Days on Market
Over the past few years you've seen homes fly off the market sometimes the same day with multiple offers. The buying frenzy was undeniable. You did not see many homes sit on the market for long. A few might have sat for a few days or a week, but most decent homes were selling fast!
But one house stands out...
207 Riverview Terrace on Lake Wylie has been on the market for roughly 2,882 days from its original listing on the MLS in Sept 2012. There were some off-market days in between listing agents, but pretty much the home has been on the market since 2012. That is 7.89 YEARS of being on the market (not including the time between listings).
During that time it did actually go under contract once in Oct 2013. I wonder what happened there?
I could tell you it might be over priced, but price is a matter of opinion. I would pay more for a perfectly baked pizza than the next guy probably. I simply love pizza that much.
Maybe the seller has it out there on MLS for that one person that thinks it's the absolute perfect house and price isn't a factor to them: that one angel buyer all sellers hope and wish for.
Maybe the seller has it listed at a 'MAKE me move' price: a price that if you're willing to pay it, the seller would be willing to move.
I can't imagine any other scenario other than the latter. This owner must have the property listed out there in MLS land at a price that if someone is willing to pay, they would sell, and under no other condition. But that's just my opinion. Im not the listing agent.
Can you blame them though? I love my home. It's not just a house, it's my home. It is where I am raising my kids. The MARKET VALUE of my home is not my personal value, not even close. And that's ok. If someone came along and offered me a 'make me move' offer that was just an absolutely ridiculous offer, then I would consider it.
That has to be what is happening here right??
In the end this article is about the philosophy of Days on Market and the idea that the longer the home sits on the market the worse it is.
I would say in unique situations (where a seller doesn't have to move, doesn't need the money, and is only willing to sell their home for a certain price regardless what the market is doing), Days on Market doesn't really matter. The seller might be completely fine living in the home forever. There very well might be a buyer come out of no where after 8 years and find this property to be the bees knees. Who knows!? If you're a seller and you have a 'Make me Move' number in your head, put it out there! You never know what you'll get until you slap that price tag on the side of the house and see.
Take a look at the listing here and let me know what you think.
Currently listed at: $2,380,000!
207 Riverview Terrace is currently listed by Brad Patton with Coldwell Banker Realty.