Get Help for a House that’s Languishing on the Market

There's a house in Tallahassee that's been for sale for three years - and it's not a short sale. The seller has reduced the price six times, chasing the market down with reductions that came too late and weren't enough. It's actually a nice house on a large lot in a great neighborhood.  It's roomy and well maintained with gleaming hardwood floors, granite counters, stainless steel appliances, and neutral wall colors. 

Besides being overpriced, the biggest problem seems to be lack of curb appeal. Its style is no longer popular and the landscaping is nondescript. At a recent open house, several lookers pulled into the driveway, then backed out and left without going inside.

The sellers need to sell it this year.  If it were my listing, I'd recommend that they get professional advice on giving it enough curb appeal to entice buyers to go inside. They should set an amount they are willing to spend as a selling expense, say $2,000, and not go over that amount. They should also set a timeframe to complete the work so they can take advantage of the spring selling season. They can either pay someone to do the work or try to do it themselves to save money.

Next,  I'd have them take it off the market for a couple of weeks while the work was being done. Finally, and most importantly, I'd help the sellers understand the need for them to price it just below comps to attract attention.  They could probably get it sold just by dropping the price, but making it more attractive will likely help it sell faster for the highest possible price.

In a buyer's market, even with a slow economy, it's possible to sell a house in a reasonable amount of time.  If it hasn't gotten any offers in the first month, something is wrong and you need professional help to identify the problem and find a solution.  If your professional tells you that it's not selling because of the poor economy and state of the housing market, get another opinion.