WHY isn't my home selling?

By
Real Estate Agent with Godzyk Real Estate Services NH License 033394
http://actvra.in/56rV

We are seeing a change in the market. We see some homes sell in days. We see some take weeks and others that have not sold yet. The amount of homes for sale is rising slowly and the amount of buyers has slowed slightly. Home Owners whose homes are on the market, can be wondering why they have not sold yet. Why they are not getting a lot of showings or why so many showings yet no offers?

 

The fact is home buyers are not over paying for homes. Values have risen, however not by the same amount for all homes, for all neighborhoods or all towns. If you have not got an offer, your home may be over priced. If your home needs work and you have not received an offer, your home may be over priced. If you have received double digit showings without an offer, your home may be over priced.

 

Many sellers have wanted to list their homes higher and higher than what has sold. The media tells them to. Other real estate agents tell them to. Their friends and family can also tell them to. The response is "no offers" by those buyers ready, willing and able to purchase. Even I will agree to list a home slightly higher than market values, but usually for 2 weeks. Within 2 weeks if we do not have an offer, we tried, but now the price needs to go where it should be. Some homes do sell at the higher prices, but often are the one's in like new condition. 

 

Many sellers ask why their home is worth more or less than what else has sold. FIRST, is location. The homes that sell the most in this area are those on streets with low to no traffic. Cul de sacs continue to lead the way in higher value. Traffic and noise are leading reasons why.

 

SECOND, is condition. The homes selling the quickest are move in ready, they need nothing. Homes that need some work though are still selling, but for less than those in move in condition. Worn carpets, rooms that need paint, unfinished work, old roofs all can reduce the amount of potential buyers who are interested in your home.

 

The solution to this issue is to replace, repair and make the home move in ready. Or to reduce the price to accommodate that work needed.

 

The biggest question I hear is "WHY does the buyer not just make an offer then?" With an increase in homes for sale comes increase in homes the buyer can choose from. Many will all flock to the home needing nothing first. 

 

All hope is not lost, many buyers want a specific neighborhood, love a style, love a home and when the asking price comes down to reach the most potential buyers for that home, there will be offers.

 

 

We are facing market factors that make this a unique market. The spring market is over. The uptick in rates over the spring forced many buyers to jump off the fence and buy already. Summer typically sees a slow down in sales.

 

The fall market can see an increase in buyers and sellers. Low interest rates are keeping the buyers coming. The time to re-price a home is now as the fall market arrives. Over priced homes are just not selling in this market. If your home has not sold, chances are it is over priced. 

 

The lesson is that through feedback and market studies we can see what values and trends we are experience. This is why a Buyer or Seller should not choose just any agent, choose the BEST agent for the job. My philosophy is simple, provide more personal and professional service to guide my clients through each step of the buying or selling process. All Agents are not created equal and every buyer or seller should take the time to hire the BEST not just the biggest. Those that hire me, find a dedication like no other.

  

 

 

 

To CONTACT Scott Godzyk please call 603.661.2121 or EMAIL: Sctprop@aol.com .

 

  

About the Author: Scott Godzyk is the Owner/Broker of the Godzyk Real Estate Services in Manchester NH. Proud to be locally owned and operated with 30 years of experience, Scott is a leading Agent for Listing and Selling Homes in this area.We are Full Time Agents ready to serve all of your Real Estate needs. Servicing Hillsborough, Rockingham, Merrimack and Belknap counties. 

 

    

 

We stand by you through every step in selling your home
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Topic:
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New Hampshire Hillsborough County Manchester
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Rainer
380,693
Sham Reddy
H E R Realty, Dayton, OH - Dayton, OH
CRS

Market for sure is shifting a little all over the Country!!!

The amount of homes for sale is rising slowly and the amount of buyers has slowed slightly. Home Owners whose homes are on the market, can be wondering why they have not sold yet.

Aug 11, 2017 05:23 AM #1
Rainmaker
2,663,740
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo & Home Sale Specialists

Location, condition and price...anyone of these is usually the reason for a home not selling.

Aug 11, 2017 05:23 AM #2
Ambassador
2,521,066
Paul S. Henderson, REALTOR®,CRS,
RE/MAX Professionals. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

I have one listing I pray for every night and I have explained that I hear the same thing after each showing; over priced! THX Scott Godzyk 

Aug 11, 2017 05:29 AM #3
Rainmaker
3,336,032
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

My area I find that homes in great condition sell fast and those a bit ough around the edges stay on the market longer

Aug 11, 2017 05:33 AM #4
Rainmaker
2,452,836
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

It is similar here William Feela except there is a market here for homes that need some work, they just have to be priced to reflect it

Aug 11, 2017 05:40 AM #5
Rainmaker
2,452,836
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

I face the same challenges Paul S. Henderson, CRS, REALTOR®,.

Aug 11, 2017 05:41 AM #6
Rainmaker
2,452,836
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

It is so tough to explain Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 . One persons good location may not be anothers. Price has to reflect the location and then it attracts more buyers

Aug 11, 2017 05:43 AM #7
Rainmaker
2,452,836
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

Definately seeing that here to Sham Reddy . We have some towns that have a sharp increase in listings and the amount of buyers is slowing as they all already found their dream homes in our spring market. I am hoping for a busy fall

Aug 11, 2017 05:44 AM #8
Ambassador
2,845,488
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Northern VA

The best advice any seller in Manchester, NH can get is by consulting you.  You are in the market full-time and know it like the back of your hand.

Aug 11, 2017 10:23 AM #9
Ambassador
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Anna Banana Kruchten CRS,CRB
Phoenix Property Shoppe - Phoenix, AZ
Arizona's Top Banana of Real Estate!

Scott we have gone through several markets like yours - sellers get greedy and price to high. Buyers simply aren't going to be crazy and buy anything for any price! So buyers pull out of the market until sellers come to their senses....and then it picks up again. Round........

Aug 11, 2017 11:21 AM #10
Ambassador
2,558,339
Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Scott - Excellent read on what's happening in your market, and great advice for sellers. We're seeing a bit of a market correction here too, for pretty much the same reasons. Have a great weekend!

Aug 11, 2017 01:53 PM #11
Rainmaker
2,109,505
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

At the end of the day, Scott, let's face it... it all comes down to price. At the right price location and condition won't matter much. The trick is in setting the right price.

Aug 11, 2017 02:14 PM #12
Rainmaker
2,013,880
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

You have outlined some of the key issues that can keep a home from selling, Scott!

Aug 11, 2017 03:37 PM #13
Rainmaker
2,013,880
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

CONGRATULATIONS Scott, on having this blog FEATURED in the Old Farts Club group!    

Aug 11, 2017 03:38 PM #14
Ambassador
3,070,980
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Scott- even with low inventory in many areas, I would think that buyers are still looking for value when they buy. 

Aug 11, 2017 05:27 PM #15
Rainmaker
2,243,732
James Dray
Fathom Realty AR LLC - Bentonville, AR
Exceptional Agents, Outstanding Results

Good morning Scott.

Can't argue with your logic.  In my area if it hasn't sold in 30 days we look at the reason, most are pricing.  The only other two issues are location and condition, just like in your area.

Aug 12, 2017 02:08 AM #16
Rainmaker
398,894
Pat Starnes, Brandon, MS
Front Gate Real Estate - Brandon, MS
Broker Associate, ABR, 601-278-4513

Your philosophy parallels mine. Overpricing a home to "attract offers" is a mistake. Price the property where it needs to be to generate the most interest. Have the home in top-notch condition. Choose the right Realtor for the job.

Aug 13, 2017 08:15 AM #17
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Scott Godzyk

One of Manchester NH's Leading Agents
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