Why Won't My House Sell?
Your home is in fairly good condition, but it just won’t sell. What gives? The truth is there are a lot of factors that can influence a home’s sale. If you want to sell your house quickly, you should consider them all. Here’s a list of some of the most common reasons a property will stay on the market.
It’s Priced Incorrectly
To price a home, real estate agents look at comparable properties across the neighborhood. You may need to take another look. The reason most homes linger on the market is that they’re just priced too high. Don’t try to price your home based on what you need. Just because you need $250,000 from your property doesn’t make it worth more than $200,000.
It’s Not “New” Enough
Many buyers are, at minimum, looking for a home that isn’t dated. Your home may have perfectly good bones, but it may appear to be old. You may need to update the property, but that can cost thousands of dollars, especially if you have to update the kitchen and bathrooms.
It Has Tenants
If you have tenants, you should be aware that you’re going to be limited mostly to investors. Most home buyers want to live in a property immediately after purchasing it, so they will hesitate to purchase the property knowing they’re going to have to evict tenants.
It Can’t Pass Inspection
To get a mortgage loan, a property has to be able to pass an inspection. If your property has issues, then it may not pass that inspection, and buyers may not be able to buy the property even if they want to. Mortgage companies will not lend money to a property that they don’t think they can easily sell, which means that buyers may find themselves unable to make an offer on a home they really love.
It Isn’t Attractive Enough
Curb appeal is real. If your home looks disheveled or cluttered, it isn’t going to be as attractive as a well-kept property. You may want to pay a little extra for yard maintenance, repaint the property, and otherwise clean everything up.
It Isn’t a Priority
Like it or not, if you’re selling a property that’s relatively small, it may not be a priority on your real estate agent’s list. You may want to find another real estate agent or connect with a professional home buyer if you haven’t been able to sell your property for some time. You may also need a real estate agent that’s a little more aggressive about your property.
It’s a Question of Market
Sometimes the market is just bad. Cities can see their market tank overnight due to future plans for the area or trade agreements. If your market is currently bad, it may be better to wait until you put your home on the market. On the other hand, there are also cash-buying companies. Cash-buying companies frequently purchase properties during a distressed market so they can rehabilitate the properties later and sell them. Take a look at other listings. If they’re spending more than 60 days on the market, you’re probably in a distressed market.
It Has Terrible Photos
It’s remarkable that many people today don’t know how to take photos. If you have listings up but the photos are small and grainy, it’s time to get some professional photos done. Photos are the first thing many buyers look at today because many buyers are self-servicing through the internet. Advanced real estate agents today don’t just provide photos but also video walkthroughs and even CGI.
It Isn’t Getting Shown Often Enough
While your home may be getting a little buzz, it may not be getting as much as it can. Consider hosting open houses every weekend and offering private showings throughout the week. The more people see your home, the more likely they are to be interested in it.
Your real estate agent could probably tell you more about why your house isn’t selling. But sometimes it’s just your audience. Contact Frank Buys Houses today. You could have an offer within days — or even hours.