A client of mine has been eying a beautiful but overpriced house for the past couple of the years but she never took the initial step of viewing it, and why should she? It remained overpriced. It finally dropped down a couple of million and was at least in the reasonable range but still, no activity.
So last week, the call came: “let’s go see it” – I called to make an appointment and learned that just the day before the owners had accepted one offer and had a backup offer behind that. What are the odds, no interest for nearly three years and then three interested buyers in one week?
In my experience, the odds are pretty good. This particular house happens to be near the New York border and when I asked, I learned that Westchester tax bills were just sent out; that undoubtedly was the final straw for this group of buyers, but I’ve witnessed the same phenomenon occur in all parts of town. It’s not a conspiracy between brokers, it’s just one of those weird things that happen in real estate.
So the moral is, just because a house has sat forever, unloved, don’t assume no one else is watching it: sometimes, they are.