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.
- 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?
- 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.
- 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 firstname.lastname@example.org