180 Days on the MLS

Hey Roy, you always tell me that I should look for things that are old on the MLS. Why? The reason is simple. You are more apt to find an owner who will sell at a steep discount when his/her property has been for sale for a long time. When things are new on the MLS the owner has a different mindset even if his property is in terrible shape.

When things have been on the MLS for six months there is a trove of properties to look at for our needs. There are many hidden gems that no one has looked at in a long time. The price has often been dropped. The property is often vacant and the condition of the property is often in need of rehab. The motivation of the owner is high to get the prperty sold.

Have you agent count the number of these properties in your major metropolitan area. You may be surprised and find several hundred. If needed you can lessen the days for your MLS search. However, I have found 180 days on the MLS to be rich in properties.

Happy hunting and good luck.