Why Did the House Languished on the Market for Eight Months?
The home was spacious with four bedrooms, a large den and a two car
garage. it was located within minutes of quality public schools, several retail
stores and a variety or recreational activities. Okay, so why did the
house languished on the market for eight months?
The longer a home sits on the market, of course, the more likely its asking
price will be reduced... and reduced... and reduced again until finally, the
seller is so anxious to unload the house that any offer will do. Why do some
homes simply sit on the market while others are quickly snapped up?
If buyers and agents are not responding, if offers are far below what you are
asking, or the home has remained on the market far longer than like properties,
then it is time to re-examine the listing price
There may have been a time when homes could be over-priced and owners might
still make a sale. Forget it, those days are simply gone. Purchasers now
have brokers who know the market, and the internet makes it tough to be anything
but an informed buyer. As a result, purchasers who do their homework have little
reason to be shy about making an offer with what they regard as a more realistic
The condition in which a home has been maintained directly affects
marketability and pricing. Buyers - regardless of whatever restoration fantasies
they might harbor, quickly return to reality when they realize that they do not
have the time, skills, or money to embark on a major rehab job.
"Poor condition" does not necessarily describe homes in need of a major
overhaul. Minor things can also set off buyer jitters - a touch of peeling
paint, dirty carpets, a drippy faucet. None of these items is a big matter
individually, but they do make buyers wonder if bigger problems lurk unseen.
Your best bet is to clean and fix up a home before placing it on the market
to speed up the sale and reduce buyer anxieties - clean windows, a swept curb
and a fresh coat of paint here and there can do the trick.
Real estate is all about location and some locations are clearly better than
others. Since you cannot move your home in the usual situation, the
alternative is to improve what you have. For instance, if you live on a busy
street, perhaps hedges or an ivy covered trellis can be used to absorb noise and
obstruct unwanted views.
You want to make matters as easy as possible for buyers. A lockbox on the
door allows agents to schedule appointments at the convenience of their clients.
Owners, pets and children should be away when viewings are scheduled.
There is one surprising reason why a home may not sell - all homes are
unique. it sometimes happens that a home remains unsold not because of poor
marketing, but because in the universe of possible buyers, not one is ready to
purchase a particular property. The odds are against it, good marketing should
make such a situation rare, but it does happen.
What to do? keep on selling.
There is a buyer for every home! That is most likely to happen when your
house is prepared in advance, its pricing is realistic, and the marketing plan
gives you maximum exposure. We look forward to your call when it;s time to sell
Selling Real Estate Books