Tuesday, September 24, 2013
7 Reasons Your Home Isn’t Selling and What To Do About It.
As a Realtor I often see listings that linger on the market for months or even years – while others sell in a matter of months or even days.
Price and local inventory play a big part in a home not selling in a timely manner, there are as many other reasons as there are homes that are sold daily and yes, homes are bought & sold everyday, and in all areas.
I will highlight 8 reasons a home don’t sell, as well as what you can do about it.
1 – Selling Price
The price of any home that is not getting showings or offers is usually the main factor. Whatever is wrong with the home, it can usually be overcomed by adjusting the price!
2 – Tacky or Dated Décor
Everyone’s taste is different, so less is more when it comes to décor at sale time. Loud patterns and bold colors can be big distractions. Do I need to say anymore?
3 – Poor Condition
If a home looks as if it’s going to cost half as much to repair or renovate as it does to purchase, it’s going to take a long time to move. Just think about it - “why should I buy this house, when there are houses around that don’t need as much work”?
4 – Bad Location
A wonderful house can’t always overcome a bad location. Houses that are close to a power plant, waste-treatment facility or busy freeway will sit, unless the seller is willing to take a major hit on the price.
Also, when a neighborhood has disintegrated, pushing values down & crime up, it’s hard to find a buyer who wants to purchase there, and owners are forced to rent out the house.
5 – Bad Design
In some cases, it’s a matter of functional obsolescence, when a dated design no longer serves today’s population, such as older houses where you have to walk through one bedroom to get to a second bedroom.
6 – Over Improved House
While it certainly feels nice to have the largest most elegant home in the neighborhood, it won’t do you any favors when it comes time to sell. People are paying not only for the house, but also for everything around it. If the houses around yours don’t mirror yours in size or polish, you might have a hard time getting a luxury price.
7 – “Sloppy” House
If a seller don’t bother to spruce up the outside area, or cleanup, clutter, debris or simply make the house appealing to the eye – the house will be a challenge to sell – it will be hard to impossible to get the asking price, or sell, period.
4 Tips for Selling Your House Fast:
1 – Be realistic about the selling price. Experience shows that the main reason a property stay on the market without selling in a timely way is the price is too high.
As I mentioned earlier, “Price will overcome any objection”. Look at comparable sales, paying special attention to those in similar condition.
2 – Everybody’s taste is different, so don’t stage your home as a showcase of your own bold or traditional style. Buyers want a minimalist picture in which to see themselves in their “home”.
Hiring a Realtor to stage your home can achieve this!
3 – Post eye grabbing photos. Your Realtor can do this important task and more for you. Your Realtor can post photos on MLS and other Real Estate sources that promote and showcase your property’s features that are true selling points.
4 – Your home should look as good as it can from the minute it hits the MLS.
More then ever, in today’s market it is extremely important to have an informed
REALTOR who knows and understand this market
- CALL -