Top 3 Reasons Why to Buy Encinitas Houses That Aren’t Selling

Houses in Encinitas that sit on the market for some time can give off a bad impression to potential buyers. People who are looking to buy a home may be wary of homes in Encinitas that have sat because they may assume that there is something wrong. However, buying a house in Encinitas that hasn’t sold could be a great bargain.

Here are the three top reasons to buy houses in Encinitas that are not selling.

Sellers May Accept a Lower Offer

One of the main reasons why a house does not sell is because the asking price is too high. Buyers may overlook high priced homes because they search for homes in their price range, resulting with the potential buyers not even considering to making an offer.

Usually, buyers already assume that the seller would not accept a much lower offer, but this may not always be the case. The seller may not even know that their asking price is over current market value, not to mention, if the home has been on the market for quite some time, the owner may be willing to reduce the asking price.

As a potential buyer, you should offer a price based on what you believe to be a fair market value. You have nothing to lose by making an offer and you may be surprised when the seller accepts.

Minor Fixes May Result in You Getting a Bargain

Properties can sit on the market because of exterior reasons, but overall could be considered a minor fix. Cracking paint, unkempt landscaping, or even junk throughout the home may be unappealing and cause homes to sit. Minor and superficial renovations can quickly bring a home to livable standards. Because a house has been sitting on the market for a long time, you may be able to purchase it for a bargain and invest some of the money you have saved on the repairs.

Location for the Home is Key

Often times, buyers will pass on a home for sale because of the location, but what doesn’t work for other buyers doesn’t necessarily apply to you. For example, the quality of the schools in a specific district may raise or lower the value of the surrounding neighborhood homes, even if the homes are just a couple of blocks apart. Someone without school-aged children may be able to buy a cheaper home in the “non-prime” neighborhood, even if the school district is a prime factor for other buyers.

Don’t be scared by non-selling homes that other buyers have passed on, look out for them as an opportunity. A smart home buyer shouldn’t worry about the amount of time the house has been for sale, he or she should think about why the house could be the right choice for them.

By Linda Moore

Source: http://www.realtor.com/advice/buy-houses-not-selling/

 

 

 

 

 

 

 

 

 

 

 

 

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