Why Some Homes Sell More Quickly

Why do some houses sell more quickly? People often ask me that and here's a tale of two homes, across the street from each other in Muncie, IN. that I think shows two of the reasons. Both houses are well kept and updated, yet one sold for full list price in 35 days and the other, while it's now "pending" has been on the market 256 days.

This is the house that sold for full list. Its general appearance and especially the landscaping produces a terrific "curb appeal." Anyone looking at photos on-line or driving by the property can't help but be attracted. The flowers are abundant with tastefully matched colors. The window box of white Impatiens is eye-catching and the picket fence along the front walk gives a nice accent to the planting bed.

House #2 across the street is larger and has a 2 car garage. It has been completely updated inside and is in very good condition outside. So why has it taken so long to sell?

First, it was originally priced $30,000 higher than it was when it went "pending." After several reductions, it finally got down to where it should have been in the first place. Second, it has poor curb appeal. There are no flowers and nothing to add color or to draw a buyer's interest. I think it's likely that even if priced properly at the start, the lack of landscaping would still have made a big difference.

The National Assoc. of REALTORS and other groups do yearly studies on the return value of various home improvements. In nearly every survey, landscaping returns a higher percentage on investment than any other improvement project. Further, it's usually the least expensive. A few hundred dollars in flowers and shrubs would make all the difference for this property and it will be interesting to see the actual selling price once it's closed.

I think someone did a seminar on today's market titled "It's a price war and a beauty contest." I'd say Amen to that.