Here are some stats on the Fresno Market:
- In a 24 Hour period between Wed and Thursday afternoon the Fresno MLS had 168 residential listings that expired.
- The average time on the market for those listings was 165/185 days.
What does this mean?
It means these properties sat on the market approx 6 months with no buyers!
Who is to blame?
- Agents for taking an overpriced listing to begin with.
- Sellers for either expecting or NEEDing too much money.
Why do I say "needing?" Because I look at the public records and see that many of the sellers either bought or refinanced in the last 2 years and I can tell by the price that these sellers are just hoping they can get out whole i.e. sell for enough to pay off what they owe and the closing costs.
I looked at one that had been listed for $220,000 and see that the owners refinanced earlier this year for $200,000. I can tell you definitively that house will NOT sell for $220k. Maybe - and that's only MAYBE it will sell for $165k. Many of the sellers are in the same situation.
If you want to sell you want/need to buy or sell a home in Fresno CA. Call me: 559-301-1647. The last sale I closed I got my buyer in at $95,000 under the ask. I'm a seasoned investor/broker who knows when the numbers work and when they don't.
© R. "Lazarus" McAteeOwner/Broker Lazarus Realty
aka BloggingBroker
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