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Last week of June: Reality check time for you and your unsold home

By
Real Estate Agent with RE/MAX Crosstown Realty Inc

Its the last week of June and your house prominently displays a for sale sign that has been there since the ground was still wet from the melting winter frost. 

Barrie home prices

People have been through with their Realtors week after week for what seems like eternity. You have been living on edge, like your in-laws are going to pop by at any moment. In fact you and your family have developed some pretty regimented domestic habits over the last two or three months. 

There have been fleeting moments of panic with those calls to you at work from Real Estate firms confirming afternoon showings for their clients. "Did I really make the bed before I rushed out this morning, did the kids remember to flush before they ran out the door for the school bus?"

Others want to see your home during what used to be the families regular dinner time. Even the kids are growing tired of spur of the moment fast food dinners.

By now you just want your old life back. Buyers and Realtors have morphed into predatory demons in the recesses of your imagination set off by the ring of a phone or the slightest whiff of potpourri or scented candles. They hide in wait at the ends of the street and behind the tinted windows of the slow passing cars. Waiting and watching, hell bent on throwing a monkey wrench into your plans.

In the past couple weeks there have been fewer and fewer showings interrupting your day and while part of you is relieved at this, another part knows it means the odds are now stacking up against a sale.

Now you have to figure out why. When other homes in the area have listed and sold within the time your home has been on the market, why is yours still waiting on an offer?

 

  • You have presented your house at its very best.
  • You have accommodated all agents for all showings, even the last minute ones.
  • Your gardens are colourful, grass trim and green.
  • You've bought and replaced the lovely flowers on the dining room table a half dozen times, and even the family goldfish is tired of listening to that Dianna Krall CD you leave on during showings to set that genial warm n fuzzy mood. 


Why haven't we sold?


  • Good marketing is key. Obviously the more people who come through the better your odds of one putting in an offer. Coverage in the real estate papers, weekend open houses, Internet exposure, consistant networking by your Realtor, if all done well will generate traffic to your door. 


  • Location is important to buyers.  Being the best looking home on the street is good but isn't always a plus if the neighbourhood is sub par. Unfortunately there is nothing you can do to change that other than compensate on price.


  • Condition of your home is crucial, most buyers today want turn key and do not want to deal with upgrading elements of the house as soon as they move in. The key things you can do here are: Replace dated carpeting. Carpet is to young buyers what wood panelling was to my generation, a relic of our parents decorating style. On top of that I'd say 9 out of ten homes with odor issues I have been in have older carpeting. Put in some laminate or hardwood, maybe finish that with a throw rug you can take to your next home. Find out what today's "in" colours are and head to the nearest Home Depot. If hunter green or Burgundy are your favorite memory triggering colours, it ain't about you at this point, go with what is in style, its about getting an offer. Suck it up and get rolling, there isn't a cheaper way to transition a house from ho hum to wow than a couple gallons of paint.


  • Price: You were hoping I wouldnt come around to this but it is the most important component of all.  All of the above don't matter one iota if your house is priced five, ten or more thousand above other comparable homes potential buyers will be visiting along with yours. You must be honest and practical about valuing your home. Have your Realtor do an agent tour through the week to get other agent's assessment on where your home should be priced. If you need more money than the market value will command then wait a few years for area values to increase before listing. 
If you have done all of the above and are one of the many homes I see around town that have had for sale signs on the lawn since early spring then it is time to face up. Have a fresh and open minded look at what did sell in the last few months. See what they listed for and what they eventually sold for and decide where your home fits in. Even though the dog days of summer are slow for buyer traffic, it does pick up again by end of August, early September as there are always buyers who need to find and close on a home before year end.

If you have yet to list and want a strait up evaluation and top notch marketing plan for you home, give me a call.

 

 

Posted by

 Mike Montague

  

Barrie Power of Sale Listings

Barrie home values

 

 

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