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Home Deals

What makes for a good deal? 

The right listing price, right condition and right marketing help a home sell quickly. It takes all three to secure a buyer and sell for top dollar. The average days on market in the Triangle for a single family home was 30 for 2018. While every neighborhood and price point are unique, homes that are lingering beyond 90 days in most cases are sitting for a reason. What this means for you, the buyer, is that there is an opportunity to come in and get it at an aggressive price.  If you have vision, patience and persistence, you can potentially get a great deal. We've gathered a list of homes that have sat on the market for more than 90 days. We can't specify that each of these properties have sat on the market for any of the specific reasons stated above, but this is a good place to start your search if you are on the hunt for a deal. 

Check Out these Potential Deals

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Factors that can cause a home to sit?

Challenged Showings

Some homes sit simply because of poor marketing. By and large we attribute this to bad photos, poorly staged homes and inaccurate listing information. It can also happen when the access to the home is challenging. A For-Sale-By-Owner who doesn’t allow the buyer to feel comfortable touring and is breathing down their neck set the stage for a bad start. Other times the showings are too restricted or constantly denied by a tenant making the average buyer move on to another property. A little vision and patience can go a long way here!

Outdated

Some agents and sellers don't look at the process of selling with the understanding of their primary target audience. They simply look at $/sq ft. However, after some time on the market it becomes apparent that they weren't hitting their primary audience and have lost steam. Let's take the example of a 3000 sq ft 4 bedroom home in a well established desirable neighborhood. If they haven't updated their home in 20 years they may find that the average buyer looking at their property are families that aren't willing to pay a premium, put in sweat equity and keep up with the demands of a busy life. 

Overpriced

The headlines can be misleading to the average seller. They believe that the market is so hot that buyers willing to pay anything for a home. That can be true but only of very specific areas and price points. When home prices are rising, think of it as climbing a mountain rather than taking a helicopter ride to the top. You can go up so quickly and still stay within a range that buyers are willing to pay and banks are willing to lend at.   

Condition

Homes that have apparent work that needs to be done can be off putting to the average buyer. They generally think the work that needs to be done will cost more than it really does. In addition, they can't see past the style specific or worn out items. After some time on the market, a seller is more opening to knocking more off the price to get it under contract. 

Ready to Find Your Deal in The Triangle?

If you're thinking of buying a home in The Triangle area, then don't hesitate to contact our team! With years of local experience and expertise, we're here to help you with every aspect of your real estate journey, from learning more about the unique communities to finding your perfect home. Give us a call, and let's get started today!

Questions? Just Ask!