Three Reasons Your Home Remains Stale on the Market
Posted on: 26 October 2016
Over 5 million homes were sold in the United States in 2015, according to the National Association of Realtors. For many of those homeowners trying to sell their home, it was a long process. Other homeowners were able to sell their home in a matter of days or weeks. If you have placed your home on the market and have yet to receive any offers, this is often a sign that there is trouble. If your home is in a seller's market and struggles to get any bites, then you may want to look at other issues that could be causing your listing to go stale.
You're Not in Line with Local Comps
While you may value your home at a certain price point, buyers may see it worth a much different amount. It is important to have information to back up why your home is priced where it is. To do this, you can get the comparison prices of similar homes that have sold in the area. The best way to get real and accurate prices on homes that have recently sold is by talking to a professional real estate agent. They may have sale prices that are so new they are not available to the public. This can help you price your home better and give you data to back it up.
Your Home Requires Repairs
It may be tough to shell out money on repairs for a home that you are not planning on living in, but it can mean the difference in your home sitting on the market or actually selling. While there are some buyers who will be happy to purchase a fixer up, they want to purchase the home at a discount if they are going to be putting money into a home. If you plan on asking full price for the home without repairs needed, then you need to invest a little money into the house so it can be turnkey ready. You may also want to consider putting in some upgrades like tile flooring, ceiling fans, and new fixtures to help appeal to more buyers.
Your Marketing Is Not up to Par
To sell a home, you need to get it in front of the right buyer. The marketing of your home can make or break a sale. About half of buyers are under the age of 36, according to the Zillow Group Consumer Housing Trends Report. Knowing this can help ensure you get it sold faster. Because younger people are common users of social media, you want to make sure you tap into areas where your buyers will see the listing. Working with a knowledgeable real estate agent can help you market your home properly.
Share