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HOUSE NOT SELLING?
March 27th, 2018 9:57 AM

Barbara’s Blog:

When a house is put on the market, most sellers are hoping for a quick sale.  While one should not panic if the house does not sell immediately, if months fly by without any real offers, here are some things to consider:

A home is only worth what a buyer is willing to pay in the current market.  Realtors will advise a price based on recent sales and comparables of like properties.  But it still depends on the location of the home, recent upgrades and current condition as to what a buyer is willing to offer.  Many sellers make the mistake of adding on the cost of any renovations made, but those same improvements may not add to value.

Do not be present at showings or open houses.  This puts unwanted pressure on the buyers, which will make them uncomfortable and likely to chase them away.  This is another reason why FOR SALE BY OWNER is more intimidating to a buyer.

If a seller refuses to negotiate even a penny off the price, then he is too attached to the home.  If a seller doesn’t really want to sell, or thinks his house is the best one on the market, then odds are that it will be difficult to come to an agreement with a potential buyer. 

Do not display all of the personal décor.  Buyers are going to feel uncomfortable touring the house where all of the family portraits are on display.  Take down all of the personal décor so that buyers can imagine themselves living there.

The home is too cluttered.  Even if the home is clean, clutter can be a big issue.  There may be too much furniture in one room, which makes the house feel smaller.  Home improvements might be too personalized, such as murals on the walls.  And those “collections” or “hobbies” that are displayed on shelves are a big turn off to most buyers.

The home is in need of too many repairs.   Many buyers simply do not want to deal with the cost or effort of doing repair work, even it is only small repairs, such as replacing a broken tile.  It is best to do the repairs before listing the home, or even pay for a home inspection to ward off any future surprises, and have everything done before selling.

We are now entering a buyer’s market again with inventory constantly increasing.  It is best to have a home completely ready before trying to get top dollar in a competitive market.

 

Written by Barbara Doeringer

 

 


Posted in:Real Estate
Posted by Allen Doeringer on March 27th, 2018 9:57 AMPost a Comment

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