Colorado Springs Real Estate Tips -- Why didn't my home sell.
For a Free Market Analysis on your Colorado Springs home, email Kathy Torline at KTorline@msn.com
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In Realtor "lingo", homes that do not sell during the listing period are known as "expired"
In the Colorado Springs housing market, there are any number of factors which can be responsible for a home's failure to sell. And every one of those problems can be corrected one way or another. The first one I am going to address is Price. Essentially any house will sell if it is priced correctly. There is a perfect price for every home.
Listing your home at the right price is the most important decision in today's real estate market. Essentially most of today's buyers want a "deal"; and it's currently a price war to get people in the door. If the buyers don't perceive that a home is priced correctly, you won't get any showings. No showings, mean no offers, which means the house won't sell. It's a simple equation.
Strategy: Have a through Comparative Market Analysis (CMA) done by a Colorado Springs Realtor to ensure your home is priced right. The analysis will take into consideration many factors, including the sales prices of comparable homes that recently sold in your neighborhood within the last 3 to 6 months. The CMA 
should also include the listing prices of similar homes currently on the market; as these homes are your competition on the market. It may also include other Expired Listings, as these are homes that the market has rejected for one reason or another.
The analysis will include comparing the features and qualities of your home with those of other comparable homes. There are many different ways Realtors do these computations, but all of them add and subtract from the baseline price according to the differences between the properties and your home. As an example, If your house has a 2 car garage and the other properties have a 3-car garage, adjustments will be made. If your house has 3 bathrooms and the other houses only have 2; adjustments will be made. If other properties have air conditioning and yours don't, adjustments will be made.
Typically adjustments can be computed to include square footage (main floor, upper floor, basement, and finished basement), bathrooms, air conditioning, garages, fireplaces and age of the property. There are many other adjustments that can be made, and every Realtor has their own way they compute the adjustments.
Pricing is typically the number one reason that all homes, including Colorado Springs homes, don't sell and expire.
This article was originally posted at: Why didn’t my home sell?
Kathy Torline, Colorado Springs Real Estate Agent, An Expert You Can Trust 719-2887-1049 KTorline@msn.com
Selling Real Estate in the Colorado Springs area, including Monument, Fountain, Larkspur, Pueblo, Castle Rock, Manitou Springs, Woodland Park, Palmer Lake
www.ColoradoSpringsVintageHomes.com, www.KathyTorline.com
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