Why Do You Think This Home Hasn't Sold Yet?
Homes in our market can move VERY fast, or sometimes VERY slowly. When we're out with buyers and we're looking at a home that seems to be taking longer that most to sell, buyers often ask us for our opinion WHY that home hasn't sold yet. After all, if something is hurting a home's ability to sell today, it may very well hurt the ability to sell years from now if the buyer decides to make this home theirs.
And chances are we CAN identify a reason, or sometimes a handful of reasons, why a particular home has probably not sold yet. And sometimes there isn't really anything wrong with a home to prevent its sale, but its just unique enough that the buyer match is on the small side.
So without further ado, a list of common reasons a home may take longer than others to sell:
- Price. Maybe not today's price, but the price when the home started on the market. An overpriced home can add months to time to sell, especially if that price puts the home in competition with homes that offer MUCH more for the same dollars.
- Location. A main road, a retention pond, high power lines, etc. can all put a severe crimp in a home's selling.
- The floor plan just isn't in demand. When buyers want an open layout and a home is set in the traditional hardwalled layout buyers may balk at it.
- Something a simple as paint scheme. Buyers want move in ready and a home that is too bold, or too wallpapered might just break a potential deal.
- Smell of any odd variety. Pet, smoke (cigarette or wood burning fireplace) might cause trouble.
- The next door neighbors. Maybe they don't keep up to area standards, or on the other side of the fence are homes that aren't the same value or style as the subject home. Some people aren't keen on having an apartment complex or a strip mall close to their home.
- School reputation. Crossing a street and entering a new school district can be HUGE for families concerned about quality of schools.
- The home is just too personalized and not "mainstream" enough. the style of flooring, the kitchen counters, shower style, etc. Sometimes it's a big thing, sometimes it's a small thing.
- Basement layout. A home can be perfect, but if the stairs and mechanical set up doesn't match with a buyer's needs, the home is off the list.
- It could be the MLS information or marketing. We see mistakes made. A home is listed without the garage spaces it has, or the acreage information is inaccurate, or some other key feature error has made the home "invisible" to the buyers searching for homes.
Now there are more reasons a home may not sell, and we can evaluate that on a case by case basis to help you as our buyer should be concerned, or know that the home MIGHT be perfect for them despite the fact that it hasn't sold quickly.
Need help buying or selling a Warren County area home? Just give us a call at 513-520-5305 and we can chat about how we can best assist you!
Serving Warren County area home buyers and sellers,
Liz and Bill aka BLiz