Why is your Eastvale house not selling?
Eastvale CA is currently experiencing a seller's market. This means that there are more buyers looking to buy than homes available to sell. Inventory is very limited. As of February 26th 2016, there are only 111 homes available for sale. 16 properties went into escrow just this past week. Average days on the market was 98 days for the month of January 2016. The average medium sold price was $474,708 for a 2760sqft. That is about $172sqft.
Why then are there 23 listings with over 100 days on the market? 3 of these listings are over 250 days. (Two of these are shortsale and one is standard.)
The top reasons are:
1. Shortsale - These listings require lender approval, which sometimes might take months to obtain. There is also a chance that by the time a lender approves the sale, the original buyer backs out of the deal because the lender took too long, or because they found another property.
2. Overpriced - There are agents who will list a property over and above the market value just to obtain a listing. However, they are actually doing a diservice to the seller as the listing usually will remain unsold and unwanted by buyers. Currently there is one property in Eastvale that has 295 DOM. The property is in a great neighborhood in Eastvale. It has the floor plan that is desired by many buyers. However, the listing agent priced it incorrect 295 days ago and has not had a reduction in price all this time. Only now is the listed price on par with the market.
3. Showing availability - Sellers who require appointment only, or 24 hours appointment are doing themselves a diservice. Agents and buyers value their time. In a seller's market, time is of the essence to tour and be ready to make an offer as quickly as possible, for they know if they don't act on it, other buyers will.
4. Contingency - Agents and buyers usually prefer not to work with sellers who request a contingency that they find a replacement house. An option might be rent back from the sellers.
5. Condition of the property - Buyers now days prefer move in ready properties. A fresh coat of paint and new carpet will do wonders to ones listing. I have seen many homeowners give their home a brand new facelift weeks before it is put on the market, making it much nicer to look at and an easier sell.
6. Photos - Buyers begin their search online. If your listing photos do not attract them, more likely they won't want to tour the property. Have you looked at the photos your agent is using to advertize your house?
7. Marketing - How is the listing agent marketing the property? Is it on multiple listing service? Is the property receiving maximum exposure online, on different websites, on social medias, through word of mouth and networking?
8. Staged - How is the property being presented to the public? Is it staged? Is the property presenting its maximum space? Did the homeowners declutter personal affects? How is the curb appeal? Does the homeowner show that the house was well taken care of and maintained?
If your Eastvale CA house is listed and not selling, you might want to ask why?
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Why is your Eastvale house not selling?
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