By
Matt Trudel
This
year’s market has been very good for sellers and is not showing any real signs
of slowing down next year, despite the slight rise in interest rates. Although
rising rates can limit a buyer’s purchasing power, there are still plenty of
buyers out there looking at all price ranges. So why isn’t your home selling,
or for that matter even being shown to potential buyers for weeks. Below are
some of the top reasons that houses don’t sell in what is considered a very
good market for sellers.
Incorrectly
pricing a property too high is one of the most common mistakes that sellers and
their agents can make. Thinking that you can push the limits because it’s a
seller’s market can be a huge error. Buyers are very educated these days with
regards to value of home. An overpriced home limits the number of potential
buyers that might be able to afford it, and in turn limits the number of buyers
that will even look at it. This can cause a home to sit on the market and
become what is know as a stale or old listing. Having a bunch of price drops
can also cause buyers to think there is something wrong. So be sure you and
your Realtor® have an accurate and realistic value for your home. The condition
of your home should also be taken into account during this process, which leads
to the next reason.
While
some homes are up to date and have been freshly painted, homes that need a lot
of updating and TLC can be tougher to sell. Some buyers just don’t have the
desire or ability to do a lot of home improvements. Your home should be clean
and free of clutter, even if it is dated. Paint is an easy fix for some homes. A
fresh coat of neutral paint through some of the rooms not only updates the
home, it will also help with a fresher smell. Depersonalize the home as much as
possible. Pack and put away family photos and memorabilia. This time of year
you should be cautious about over decorating your home. A potential buyer my
not share your same enthusiasm about Santa Claus or other various holiday
traditions you may have.
Are
you working with the right Realtor® for your particular home? All agents are
not created equal and Realtors® offer many different qualities. Experience,
timeliness, availability and personality are just a few of the characteristics
you should be looking for. Some agents
work part time and have other jobs that make them unavailable. Some agents just
don’t have very good people or social skills, are tired or burnt out, or are
not very happy with their career. A Realtor® that loves his or her job is more
than likely going to do a good job representing you and your home.
Location!
Location! Location! We have all heard it, but sometimes your home is not in the
best of locations. I know what you are thinking, “I can’t pick my house up and
move it! “ That is true and all I ask is you remember this little piece of
knowledge. A house that is not in the best of shape or best location but has
lake or mountain views can work for some buyers. You might not have a lake, but
you can make the exterior and yard look as desirable as possible to off set the
condition and/or location. At one point
you liked the home and location, so perhaps the right buyer just hasn’t come
along yet.
This
article was written by Matthew Trudel, Owner of Five Star Realty, Windham. (207) 939-6971.
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