Tuesday, September 7, 2010

A Second Look at Overpriced Homes in Lexington

There are many beautiful homes for sale in Lexington MA that offer historical charm and stunning detailing. If you are looking to buy your dream home in Lexington, but are afraid the homes you love are out of reach, read on! Oftentimes home buyers feel that there’s no use in even considering those homes that seem overpriced, but these are just the properties that may be worth a second look.

There are a few reasons why buyers may be avoiding these homes altogether. If a home has been sitting on the market for a while, buyers may feel that there is something wrong with the home. But, more often than not, it is just that the sale price is too high and buyers are shying away from attempting to make an offer. A few other reasons buyers may not be biting:

- Fear of Offending the Seller- Buyers may feel that a significantly low offer on a Lexington home would completely offend the seller. The buyer may also feel embarrassed that they attempted such a low offer and may be convinced that the seller would never accept.

- The Price is Solid- Buyers may think that they seller is already aware that the home is overpriced. They think that if the seller was anxious to sell, they would have lowered the price and perhaps the seller is solid on the listing price and not willing to budge.

- Offers Have Been Turned Down- If an overpriced home has not moved at all in price, those interested assume that lower offers have been made and the seller has simply turned them down. The reality could be that, in fact, no offers have been made.

Since these factors play in to an overpriced home sitting on the market; there’s a good chance the seller may be willing to rethink their price. If they haven’t had any offers, they may assume it’s the house itself that people are not interested in and they may not realize how overpriced their home truly is. Or, it could be they have had low-ball offers that have been far too low and simply not worth their time. They may be willing to accept an offer somewhere in between or they may eventually grow weary of trying to sell their home and may be ready to give a little on the price.

Whatever the reasoning may be, if you have your eye on your dream home in Lexington that seems to be out of reach; let me know! I would be happy to give you information on how long it’s been on the market, comparables and other useful information that we can look over together. Seeing what the options are and even taking time to visit the home may be the jump start needed towards buying that gorgeous Lexington home! Feel free to contact me today with any questions you may have about the Lexington Real Estate market or to get started in finding the home of your dreams! You’ll be glad you took that second look!

Theresa D'Antuono

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