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Friday, March 05, 2010

Home Buyer Tips: Days On Market (DOM) Can Reveal Much!

When looking for that new home one of the key indicators to consider is the number of days a property has been on the market (Days on Market). 

Unless a property is a distressed property (short sale or bank owned/foreclosure) where the days on market will probably be longer, excessively large days on the market may just tell the real story!

Such as..
  • Price is too high for neighborhood.
  • Price is too high for condition.
  • Seller restricts access so as to make it difficult to be shown to prospective buyers. (Owner or agent must be present; only certain days and times; no weekends, etc.)  Even if price is reasonable some prospective buyers don’t want the hassle!
  • Seller is not really motivated. With the stress involved with selling it is a wonder anyone who is not serious would even give it a try!
When you find that house you want to purchase knowing the days on the market can be in developing your offer.

For information on homes for sale in Brevard County Florida (Melbourne area), contact me at 321-693-3850 or email me.

Gary Waters, Florida licensed real estate agent, Bucci Realty, Rockledge, Florida working exclusively with Century 21 Baytree Realty.

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