A client recently asked me, "Why isn't my home selling?"
She is a very nice woman, a pleasure to work with, and she is intelligent. She knows this is a buyers' market. But she is dismayed because her townhouse has been on the market longer than some others that have sold, one of which is an end unit. I always say I wish I had a crystal ball and could tell you exactly what price your home will sell for and when.
Here's my advice for everyone in my seller's situation:
You have to ask yourself the hard questions. Is the property REALLY priced appropriately? Is the condition the absolute best it can be? Those are the only two things you have control over - you don't have control over location and you certainly don't have control over the market.
Ask yourself, if you were a buyer would you pay the price you are asking for that home? Another hard question, are you listening to your Realtor? My personal, experienced opinion is that you can never underprice a home. That is to say, if you underprice your home you will create a bidding war and the price will go up to where it should be. If you overprice your home just to test the waters and then have to lower it, buyers may take that as a sign that something is wrong with the home or that you are desperate to get rid of it at any cost.
Finally, for my Catholic friends, do you have a St. Joseph statue planted in the ground? Do you know which way he must be facing?
All kidding aside, in times like this it is crucial to listen to the advice of an experienced Realtor, while at the same time recognizing that they can only give you the best advice possible but, sadly, do not have a crystal ball.
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