Monday, August 3, 2009

Reasons Some Homes Don't Sell

Reasons some homes seem to sit on the market for extended periods of time;

* Too few pictures online, no Virtual Tour, or a simple matter of bad photos

* Home is Priced too high for the neighborhood. A killer in any market. This can change too. We have seen situations where a new home was listed for sale at a deemed fair market value, and then several subsequent listings came out on the market and their offering prices made our listing look "too high." Also prices do change! Your competition on the block may in fact reduce their price. Therefore price is something you have to work at looking at every week your home is listed to make sure you never find yourself too high as compared to the competition.

* Interiors "to die for," literally or landscaping that looks to be in huge need of "upkeep." Yep, this can make a difference in a huge way, but I will say that if the house is priced right for the neighborhood or area that this can at least compensated.

* Online marketing that is lacking or listings that are hard to locate. This of course is the kiss of death now-a-days with something like 96 percent of all buyers starting their home search online. A good way to test your personal marketing is to Google your street address, your neighborhood or some other term that might have been featured in your home's listing such as "log cabin, golf course community, East side location," etc....

* Homes not in the most pristine condition. A dead give away that your "like-new" home for sale will not be getting "new home" pricing is when there are noticeable stains, leaks, and antiquated roofing. Couple this with other tell tale signs of wear and then all of a sudden the most minute detail such as a paint chip on a column will be emphasized and you next offer will be anything but complimentary. Most people now-a-days still seem to want "new" or like new if possible.

As I always tell home sellers, walk through your home and analyze it with the eye of a buyer. Ask yourself "Would I buy this house, and is the asking price more than 'I' would pay?" If you answer "no" then most likely you are now uncovering some issues that might also keep away real buyers.

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