Can you find good deals on the MLS that have been sitting on the market for a while?

[Golan Corshidi]

Hey,

I am curious if any of you have found good deals on the market that were listed on the MLS for a long time (90+ days).

I find that the best deals on the market are usually newly listed (less than a week on the market) and usually the deals that haven't sold have significant issues with them.

What are the reasons that you think homes sit on the market for a long time and how do you navigate the issues to make a deal that works for you? 

[Victor Patel]

Golan,

There are typically two reasons why a property listed on the MLS hasn't sold: either it's overpriced or there's an issue with it. In either case, the longer a property remains on the market, the more motivated the seller often becomes to offload it.

Savvy buyers understand this and often target properties that have been listed for three months or more. These homes can present excellent opportunities. By negotiating a significant discount, buyers can secure great deals while meeting the seller's urgent need to close the sale. It’s a win-win situation for both parties.

4o