Days on Market Beyond 180 Days

[Chasity C.]

I assume that the longer a property sits on the market, the lower that listing will drop...When a property has been sitting on the market more than 6 months, is there a formula investors use when offering a reduced price? Is a certain percentage deducted each month?

[Aaron K.]

No it isn't a formula it depends on the property, usually if something is going to sit for 6 months something is wrong, it usually means the seller is unwilling to accept a realistic price or there are repairs that need to be made that are not reflected in the price.