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Reasons Your Home Hasn’t Sold Yet

This post contains excerpts from an article from Realtor Magazine, published Jan. 30, 2019 by Kaycee Miller

Even though existing home sales increased in October and November, there was a decrease of 6.4 percent in December.  Now experts across the country are predicting a continued shift towards a buyers market in the months ahead.  But that doesn’t mean your property shouldn’t be getting attention from the right potential buyers.  Although you can’t control the nation’s housing market, you can control certain factors that may be keeping your home from selling.

  1. Price.   A home that is priced too high is bound to deter potential buyers, and it’s one of the top reasons a home won’t sell.  Of course, you want to make a profit, but be sure that the listing price is in line with the comparative market analysis.  Ask yourself:  Am I holding onto the price for sentimental reasons?  Am I hung up on the amount of money I spent on renovations?  Am I thinking about the neighbor’s house that sold for more money a few years ago?  Remember, buyers are ultimately the ones who determine the sales price of a home.  A helpful exercise is to pretend you are a buyer, and try to objectively evaluate at your home compared to  similarly priced homes in your vicinity.  For the same price, would you buy your home or the one down the street and why? 
  2. Presentation.  If your home is priced competitively with similar homes in the area but is still lingering on the market, it’s time to go back to the research phase.  What do these homes have that your home does not?  Freshly installed flooring or carpet?  Brand new appliances?  Neutral interior paint?  Attractive landscaping? Sometimes small investments that beautify a space, such as adding molding or  updating light fixtures, can make a big difference. Also take note of clutter.  Too much stuff can make spaces feel smaller  and make it more difficult for buyers to picture themselves in the home. If you have pets, make sure they are not in the home for showings, since they may deter buyers who may not be animal lovers.  Along with sight is smell.  Although you may have grown accustomed Rover’s doggy scent, buyers are often put off by odors such as pet smells, cat litter boxes,  moldy/damp odors, cigarette smoke, etc.  If you are unable to tell if you have a “stinky” house, enlist the aid of a few close friends or neighbors who can be honest with you about your home’s smell.
  3. Location.  Although this is something that is not technically under your control, it still may be a strong variable in why your home hasn’t sold.  Homes that front busy streets with traffic noise, have a gravel pit or landfill next to them, are beneath airline flight paths, etc. will probably not sell for as much as the identical home with a more desirable location.  That said, you may need to adjust the price to get buyers interested and over the fact that the surroundings are not an exciting benefit.     

At Flathead Valley Brokers, we can help you price your home strategically so that it will catch the attention of prospective qualified buyers.   Give us a call at 406.752.8883, or send us an email at info@fvbmt.com

Posted in: Uncategorized

How to Prepare Your Home for Sale

Here in the Flathead Valley, we’ve been experiencing a robust seller’s market.  Here are some tips to help you get the maximum value when marketing your home. (source: Angela Colley)

1. Note the age of various items

Check your home records or seller’s disclosure for the age or last repair of big items (namely your roof, HVAC system, water heater, and gutters), or dig up copies of your own maintenance records or receipts.

How long items last depends on a lot of factors such as the model and how well it’s been maintained, but you can get a general idea of average life span from the National Association of Home Builders. For example:

  • Wood shingle and shake roof: 15 to 30 years
  • Central air-conditioning unit: 15 years
  • Electric water heater: 14 years
  • Gutters: 30 years

2. Do your own walk-through

Channel prospective buyers and go through your home, room by room. Look for signs of damage that might drag down its value. Chandler Crouch, broker for Chandler Crouch Realtors in Forth Worth, TX, suggests looking for these common problem spots:

  • Wood rot around outside door frames, window ledges, and garage doors. Condensation and rain can cause these areas to weaken and rot.
  • Water stains on the ceiling or near doors and windows. This can indicate a leaky roof or rain seeping in from outside.
  • Leaks under sinks or around toilets.
  • Bulges under carpet or discoloration on hardwood floors, which can indicate flooding problems or an uneven foundation.

Next, test what’s called the “functionality” in every room. For example, “Cracks visible in the walls and floor, doors that don’t shut right, broken handles on cabinetry, basically anything that doesn’t work perfectly should be repaired,” Crouch says. And don’t forget to inspect the outside.

“A lot of sellers skip the outside, but it is so important. That is where buyers will make their first impression,” says Darbi McGlone, a Realtor® with Jim Talbot Real Estate in Baton Rouge, LA.

3. Bring in the pros

Once you’ve done your own walk-through, you may want to have a pro take a second look. These people can spot flaws you overlooked, because either you’re used to them or you didn’t realize they could cause trouble. You can enlist a Realtor or hire a home inspector to do an inspection (or pre-inspection) to pinpoint problems from bad wiring to outdated plumbing. While the cost varies, people pay $300 to $500 for a home inspection. Go to the National Association of Home Inspectors to find an inspector in your area, or ask your Realtor for recommendations. It may cost a bit, but it will buy you the peace of mind of knowing you’re not in for any surprises down the road. In fact, having a home inspection report handy to show buyers can inspire confidence that they (and you by association) aren’t in for any nasty surprises as you move toward a deal.

4. Decide what needs renovating

Once you know what in your house could stand for repairs or upgrades, it’s time to decide where to infuse some cash. Don’t worry, not everything needs to be done before your home is on the market. And while you’re probably not jumping at the idea of renovating a property you’re going to sell, certain fixes will give you an edge over the competition, which means more/better offers.
But don’t just obsess over the obvious—e.g., your kitchen could stand for new cabinets. After all, many buyers will want to tweak cosmetic details to their own tastes, so you could be throwing money down the drain. Instead, focus on fix-its that are less susceptible to personal preferences that buyers like to know are in good shape. For example, a recent study by the National Association of Realtors® found that upgrading hardwood floors reaps an estimated 100% return on investment, essentially paying for itself. Upgrading your insulation can net you a 95% ROI, a new roof a whopping 105%!

It may sound daunting, but we can help you through the process of selling your home from start to finish.  Give us a call ~ 406.752.8883

Posted in: Blog

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Our professional staff is passionate about our clients’ goals, and aim to treat each client as if they were our only one. Together, your next real estate experience will not only be enjoyable but also produce great results! Please feel free to give us a call, or send an email anytime and we will contact you as soon as possible. 406.752.8883; lindap@fvbmt.com

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