It’s a Hot Market. Why Isn’t My Home Selling?

Since it is a hot market, you may have fantasies about putting a sign in your yard and being flooded with offers. However, before putting your home up for sale and to prevent days from passing with no activity or offers, be prepared to act and change direction quickly if you don’t get an offer. Here are four common reasons homes don’t sell:

 

It is priced too high.

There is such a thing as pricing too high even in a hot market. The current market simply may not support the value a seller believes the house has.  Real estate, just like the stock market, is based on supply and demand.  If the home is not priced with comparable homes on the market (meaning homes that are priced similarly to the listing, have higher-end finishes, more square footage, a view, etc), buyers are savvy and will recognize that it is overpriced.

 

Before putting your home on the market, we will need to take a look at your competition – by price point, style of home, neighborhood, and determine where your home truly falls in with the rest of the inventory. What has recently sold and how does your home compare – price and finish-wise? If other homes are selling and yours is languishing once on the market, then a price adjustment will be needed.

 

It is too difficult for buyers to see the home.

Some sellers put restrictions on showing their property including restrictions on the times agents can show, too much notice required for an agent to show, or demand that both the listing and showing agents be present for all showings.  These are all things that make it inconvenient for agents, and therefore potential buyers, to see your home and your home may be passed over.

 

The house needs curb appeal.

Buyers will drive by a home before deciding to view the inside. If the yard and home front aren’t inviting and up to snuff, buyers will assume the inside is as disheveled or lackluster. First impressions are what will get buyers intrigued and it can be fairly inexpensive to weed, mow the lawn, add bark to the beds, and paint the front door. Let’s make a plan to give your home great curb appeal!

 

There’s something wrong on the inside.

It could be a smell such as a musty basement, smoke, or pets. It could be an odd floorplan or small closets. It could be that the kitchen is dated. It could even be an overwhelming set of collector plates is cluttering the surfaces. Everything that causes a potential buyer to opt out, thus shrinking the buyer pool for the property, needs to be addressed either by correcting the problem or reducing the price. We will chat about potential problems before putting your house on the market.

 

If your home isn’t selling, don’t just stand back hoping the situation will correct itself.  We will take action together to get the most buyer eyes on your property to get it sold. Give me a call at (206) 370-0043 or send an email to soldbyliznettles@gmail.com.