Skip to main content

6 Reasons Your Home Won't Sell

Debunking Myths To Home Buying
Are you ready to sell your home and want it to have a great first impression on the market? Or maybe your home has been listed for a few weeks or months, and you can't figure out why it won't sell, and you know your agent is working hard to market it. We've listed below the top 6 reasons your home may not make a good impression and end up stagnant on the market.
1. IT'S OVERPRICED
To be clear, an overpriced home is the #1 reason a home won't sell. We often times want our homes to be worth a lot more than we may see based on the data, but if you put your home on the market for the number you wish it will bring instead of the price it actually needs to be, your home can sit on the market for months without getting a single showing. If you're thinking you need to price high to leave room for negotiations, statistics show that views for your property, for buyers in your price range, can drop a whopping 90% if it's priced too high. Discuss with your agent what the market says the value of your home is, then price it competitively to potentially get a bidding frenzy instead of low offers or having it expire.
2. LOW SHOWING AVAILABILITY
Making sure the house is clean and having to leave on a daily basis for buyers to tour the home may get a little overwhelming, but it is crucial to have open availability to have your home shown. You could end up missing out on the perfect buyer if you decline too many showings. The longer it sits on the market, the less value buyers will see in it. Talk with your agent about having a 24 hour notice period if the extra time is needed, but make sure your home is available to be shown as often as possible.
3. CLUTTERED SPACE
Buyers want to walk into a house and envision their lives in that home. This is difficult to do if your home is cluttered with personal belongings. They are instantly given the feeling of invading someone else's personal space, instead of the satisfaction of being able to see a future in your home. Make sure your property is clutter free before putting it on the market; and store away any family photos.
4. UNPLEASANT ODORS
If you smoke or have pets, it's easy to get used to the smell to the point that you don't even notice it anymore. But it's important to understand that the scent can be picked up by new people visiting your home, and it can really turn them off from making an offer. Before a showing, make sure to dispose of any garbage, don't cook fish or other strong smelling food, and ensure the home is freshened up so there are no pet or smoke odors. 
5. UNWILLING TO MAKE REPAIRS
Selling your home as-is may sound appealing at first, but being unwilling to make repairs could cost another mortgage payment that far exceeds the cost of repairs if you refuse to work with the buyer on their requests and the home goes back on the market again. It's wise to be open to repair requests, and simply go over with your agent what you can afford to do and make a reasonable counter offer during the repair negotiations. 
6. UNWILLING TO NEGOTIATE WITH BUYERS
It's important to have an open mind about requests that will come from buyers when it comes to purchasing your home. These requests can come in the form of price negotiations, repair requests, or even requests to cover closing costs or home warranties. With your agent on your side advising you of the best steps to take, it's best to be open to working with the buyer's on some of their requests to ensure a successful closing.

Labels:

Comments

  1. My housemanAugust 2, 2018 at 6:29 AM

    Thanks, this was helpful

    ReplyDelete
  2. EvelynSeptember 23, 2018 at 7:56 PM

    You have chosen a very good topic for the discussion because this question is arrived in everyone's mind at the time of property selling or buying. Your article is very informative and provides an amazing solution. If anyone interested to know more about the..... https://www.myamericandreamhomes.com/

    ReplyDelete

Post a Comment

Popular posts from this blog

The Hidden Costs Of Homeownership

If you've never owned your own property before, there are some costs you should prepare yourself for ahead of time. Should you take out a mortgage, you'll have your monthly mortgage payment, but often there are additional costs and fees added that a new homeowner may not expect. Listed below are items you should expect to pay once you become a homeowner. Property Taxes When you rent, you are not responsible for the property taxes on the property. But when you become a homeowner, you're expected to pay yearly property taxes, of which go to public works, wages for government workers or public school boards. Based on the current value of your home, property taxes are assessed every year and will likely change to reflect an increase (or decrease) in your home's value. Property taxes can be paid at one time, or they can be divided into 12 payments over the course of a year and added to your mortgage payment. When you're trying to determine what your mortgage...
Post a Comment
Read more

Home Buying Tip: How To Save Up For A House

Are you thinking about buying a home and just don’t know where to start? Before you even begin looking at homes, consider how much you may need to save to make the process as smooth as possible for you, especially in the long run. While there are situations where you don’t need a large down payment for a home, having one can save you money down the road.  Saving for a down payment is slightly different than other large savings, like retirement. With those savings, you can set aside smaller amounts or invest the money. Because you will need your down payment sooner rather than later, those saving methods won’t be beneficial to you. Here are some steps to take to save up for your dream home! 1. Determine How Much You Need There is a general rule of thumb in real estate, the rule of 28, that says your maximum mortgage payment should not exceed 28% of your gross monthly income. Sitting down with a mortgage lender will help you find out how much of a mortgage you qualify for ba...
Post a Comment
Read more