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Have you tried to sell your home in the past 2-5 years without success

By
Managing Real Estate Broker with LoKation Real Estate

Have you tried to sell your home in the past 2-5 years without success? If you had your home on the market more than 12 months ago and were told by buyers and agent feedback, that "the home was lovely, but my buyers prefer a better location" or "everything is perfect except for that street behind the house" or perhaps, "nicest home I have shown, too bad the power lines are visible from the back yard".

Well, if you live in one of those tough to sell homes, but really do have a nice home, now could be the best time in years to sell. The simple reason "supply and demand". Right now in the Denver market there are fewer homes available than have been in the past 20 years, and there are more than twice as many people living here. (Does anybody remember the long gas lines at the pump>>>>>>, this is what it is like for buyers right now)

6753 homes are currently listed in the greater Denver area, compare that with a typical market of around 22,000 homes available, it is no wonder we are hearing multiple offers on nearly every listing, there just are not enough homes to go around. If you tried to sell your home when the market was saturated with homes, and this did happen over the past 2-5 years, then you might want to speak to a real estate professional about the reality in this new market we find ourselves in.

I have heard several homeowners say, "I have been hearing that it is a sellers market, but I would also have to find another place to buy, and right now that seems very difficult" My thought is, if you have one of those more difficult homes to sell, then Just Do It, you might just get top dollar for your home, and then you can either offer a rent back or possibly just move out and rent until you find that perfect home. One suggestion I would have is to look into new construction, Sell your home, put your stuff into storage, buy a new build and have the home of your dreams without having to settle for just another house. A double move can be much less stressful knowing that you are finally going to be able to move that tough to sell property without giving it away.

So all of you Sellers that have heard "location was the reason your home did not sell" feedback from previous listing attempts, you might find you can throw that right out the window, because there just is not any competition and buyers are begging for anything they can get their hands on. Give your favorite agent a call, or if you can't reach them call me and I will find a capable agent for you.

Posted by

 

John Marshall -Fore!

Low-Maintenance Golf Course Living

I have been involved in the Golf Communities through-out Colorado for the past several years. As a contributing writer for Colorado Golf Magazine I write articles regarding new course development and their surrounding communities.

720-982-6322

"A good agent will learn to dance to the clients music, but a great agent will write the music that attracts the clients he wants to dance with." John J Marshall

If you are a new agent and finding the road more difficult than you thought, please send me a note and I would be happy to help.

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 I am happy to help.

Ginger Harper
Coldwell Banker Sea Coast Advantage~ Ginger Harper Real Estate Team - Southport, NC
Your Southport~Oak Island Agent~Brunswick County!

There are many in our are that have tried to sell their house over the past 5 years and to no avail. There ususally is something that keeps a house from selling. The most thought thing that prevents a house from selling is the price. So...If you find yourself in that position...reduce the price.

Mar 26, 2013 10:34 AM
John Marshall - FORE!
LoKation Real Estate - Cherry Hills Village, CO
Specializing in Golf Course Properties

Ginger, price is typically the reason, however I have picked up many expired listings over the years where the listing agent made some errors in marketing the home, reducing the price could have sold the home, but many times it was not in the best interest of the seller, who may have to come to the table with funds to close, they would prefer to wait it out.

One example, a home backing to a street, was reduced to $428K from $450K and still no offers, it will now, just two years later be marketed at $500K and we expect multiple offers, the reason, supply and demand, there is not one home for sale in this desirable neighborhood.

In this case waiting it out was much better than losing $70K, its just the way our market is right now.

Mar 26, 2013 11:15 PM
Mike Carlier
Lakeville, MN
More opinions than you want to hear about.

John, it's hard to put a price on a year or so out of ones life.  If a seller is motivated to offer their home for sale, there is usually a compelling life style issue behind their decision.  If motivation is low enough, then waiting for a better market will work.  On the other hand, if motivation is low enough, why not wait until 2014 or 2015, when prices will be even higher than today?

Mar 26, 2013 11:27 PM
John Marshall - FORE!
LoKation Real Estate - Cherry Hills Village, CO
Specializing in Golf Course Properties

Mike - Right, every situation is different and I was being very local when I posted this blog, the sellers I am referring to are those that did not have to sell, but were planning on it 2-3 years ago. They had homes in less than ideal locations so they were getting even lower offers than the rest of the neighborhood when it was a buyers market.

Here in Denver it is one of the most extreme sellers markets we have ever seen, 20-30 offers on a home is not uncommon, the lowest amount of inventory on the market per capita for as long as anyone can remember, that combination is a "perfect storm" for sellers with previuosly hard to sell properties, it will not last so waiting another couple years will be a mistake, at least for those hard to sell homes.

Mar 27, 2013 08:50 AM