Why are some properties on market for soooo long?

Unicorn_cottage

Hey all
Am looking to move. You get on Rightmove etc and go oh wow look at that property and then you look at the date of the listing...2018 etc. Why does this happen? Difficult vendor? Something wrong with house? Etc etc? Hoping to hear from anyone's experience of this including Estate Agents
Thanks for any advice.

eidand

who knows, each one has a  different reason. maybe some had a buyer, few months of work then it falls through. 
I wouldn't focus on that. Decide what you like, ask the EAs why and decide what to do from there.

AskAsk

soemtimes the EA doesn't bother taking the listing off rightmove i find.

lingvolingo

It can depend on the area. Some areas don't have a lot of buyers and sellers which can make for a slow market. I'm in one of those areas. It's not uncommon to find houses on the market for years. There can be other reasons too. As mentioned above, it could have been under offer but the chain fell through. It may be that there are unseen major issues (structural for example) that make it undesirable. Or maybe the asking price is too high. People also tend to question why a house has been for sale for so long and assume there may be something wrong with it so they are put off by it which in turn, makes the house stay on the market even longer!

eidand

lingvolingo said:

It can depend on the area. Some areas don't have a lot of buyers and sellers which can make for a slow market. I'm in one of those areas. It's not uncommon to find houses on the market for years. There can be other reasons too. As mentioned above, it could have been under offer but the chain fell through. It may be that there are unseen major issues (structural for example) that make it undesirable. Or maybe the asking price is too high. People also tend to question why a house has been for sale for so long and assume there may be something wrong with it so they are put off by it which in turn, makes the house stay on the market even longer!

Absolutely right. the one I am buying has been on the market for a full year. Decent price, Very decent plot and room sizes. I am quite happy that no one else bought it. The survey was very good so I am quiet chuffed.

RelievedSheff

The long time lurkers in our area are all over priced. Similar properties that are more realistically priced tend to sell quickly. 

iwb100

Sometimes certain areas just have buyers for certain property types and ones outside that struggle. Other times it can be things like schools that mean houses are on the market a long time. Or the layout when you go inside is odd or the feel just isn’t right. Lots of properties are perfect for a few but terrible for many others.....

Chilli6

My house sold in two months. The neighbours identical one (similar decorated and presented too) took 9 months. Partly due to them putting it on for £10,000 more as in their words 'we don't expect to get that but it can't hurt to try can it.' They ended up dropping by £10,000 and sold. 

walwyn1978

Either unrealistic sellers who either price it too high, or quirky properties that appeal to some but not many, or a property with an issue either as part of it or close by (eg proximity to a power station or pub or whatever), or a seller who doesn’t ‘really’ want to sell - yes they exist! 

NameUnavailable

There's usually good a reason (assuming it's not a slow market area). I'd say most likey is being overpriced and an unrealistic vendor (rejecting offers maybe they've had in the past). Next most likely is some issue that keeps coming up on survey although you'd expect the agent to get to a point where they tell the vendor it needs to be disclosed up front to avoid wasting time. Then there's places that look fine online but when you visit you immediately realise the issue - I looked at a place that was perfect, ticked every box! At the end of the garden were tall gates which the vendor told me opened into another parking area/garages. I could see there was a car parked in front of them and after the viewing I found the way into the parking area which was via another road. Oh my god! Garages which were broken into or falling down, full of rubbish (no doubt infested with rats as well). The car was all smashed up an vandelised. Directly behind the garages was a permanent gypsy camp........

Davesnave

Some friends not far away were on the market for well over two years. Property was OK and well presented, but those who viewed first had to run the gauntlet of the immediate neighbour's three dogs barking and snarling, as they do at everyone who walks past or stops a car. Eventually, during lockdown, the price dropped well below reasonable and someone purchased almost instantly.

The new people are due to move in at the end of the month. I hear they have 4 dogs and a similar number of kids to fit into this mid terrace house of 'upside down' design. This will be interesting, as there is only a postage stamp garden. The lady with the 3 barking dogs thinks it might be a little noisy.

I think it might be Karma.