Home Selling - Tough Market? Then get Get Tough with the Market!

Home Selling - Why are you having a tough time selling??

You have a fabulous home in a great location, yet it s been sitting on the market for months with little or no interest. What can you do?

Real estate is a fickle business with markets fluctuating according to season, the economy and supply and demand. All things aside, there will always be a need for homes as long as baby's don't stop being born!!

So, lets put your home in perspective...

One of the top reasons homes don t sell is because they are OVERPRICED. Many home sellers also mistakenly think padding the price of their home gives them an opportunity to negotiate down toward a more reasonable selling price. While this may seem logical, your initial high price may be driving away potential buyers put off by your over-valuation of your home. They may think your home is simply out of their price range, or that you are being greedy or unreasonable in your thinking.

It is important to price your house according to the market in which it is located.For example,  the area/neighborhood plays a specific role in your homes value. Accessibility to schools, shopping is an important factor as well as high demand areas of your city/town.   Additionally, if there are a lot of houses for sale in your neighborhood, it becomes a buyers market and you may not be able to secure the price you think you should get if your neighbors are willing to go lower. Finally, there are trade-offs when selling your house: a lower price usually means a larger market of potential buyers and a faster sale while a higher price means a smaller market of potential buyers and a slower sale. If you are determined to get a certain price for your home, you must be prepared to wait to get it.

Another reason your house may not be selling is exposure. Are you trying to sell it yourself? If so, it may be difficult to arrange showings around your work and family schedule, therefore limiting the potential for a sale. Listing your house with a Realtor (R) may give you the exposure boost you need to sell your home. Not only does a Realtor(R) have more flexibility in showing your home, he or she will also advertise the house and list it on the widely used MLS (Multiple Listing Service) website along with local and internet advertising.

Even if your house is listed with a Realtor(R), it may not be attracting buyersbecause of a poor or no photo on the MLS listing, advertising or feature sheets. Many potential buyers will dismiss a home as a possibility based on the impression made by the photo they see. Marketing is key with finding a good agent, so do your research...look around the internet, and local circulation...who do you see the most?  It could be that simple.

Other issues to consider include:

Is your house clean and neat?This is vital to making a strong impression on potential buyers. Clutter is not desirable, so take time to sift through your belongings and get rid of the stuff you don t need or want. Throw out the junk and donate the rest of your unwanted possessions to charity. Even after going through your things, you may have too much stuff in plain view. Organize and color coordinate your closets and cabinets to fit and sharpen things up, and if you don't have enough room, buy some plastic containers and store the stuff you don t use very often in the tubs, which you can stack neatly in the basement/garage. This may be inconvenient, but it will improve the look of your home.

Curb appeal: does your home look neat and welcoming from the street? It is in good repair? Just like with photographs, your home is judged on its appearance from the street. Increase your chance of a buyer being interested by spending a few minutes ensuring your house looks great.

A dated home can reduce its appeal.Replace old flooring, apply new paint, and add a slip cover to your or unstylish furniture. Changing the hardware in your kitchen is a great way to modernize its look without spending a lot of money. A fresh coat of paint to the trim and doors with replacing painted over hinges and hardware makes an attractive new look.

Does your home smell fresh and clean to your friends? As we are used to the way we live, we are also used to the way our home smells.  It is often times hard to detect "odors" that may affect the buyer's view of our home, so give it the "friends test".  Also, we may love our pets, but not everyone does. Make sure kitty s litter box is fresh (and out of the way!), and that hair and musty pet blankets are out of sight. As mentioned above, smelly carpet isn't appealing. If your pet has soiled the carpet, it should be professionally cleaned or removed.

NEED TO SELL YOUR HOME FAST IN TODAY'S MARKET?

A GOOD AGENT MAYBE ALL THAT YOU NEED!

CALL KAY FOR MORE TIPS ON GETTING YOUR HOME SOLD!