My House Is Listed For Sale. Why Won't It Sell? Can You Say OUCH??
Your house has been listed for sale for months and there have been no offers. In the beginning, there were a few scheduled showings, and a few neighbors stopped by at the open house. Carol your next door neighbor gave you some advice. She reminded you not to settle for anything under $X00, 000 because that's what homes are selling for in this neighborhood. Another neighbor Bob congratulated you on all of the fine improvements that you made to the home.
So Why Won't It Sell??
If you are reading this, chances are that you have a home that won't sell. What I am going to say next might sting a little.....but SOMEONE has got to tell you the truth.....so here goes.
Say OUCH
O is for Overpriced
You got it overpriced. Any house in any condition will sell at the right price. If your home has been on the market for more than 6 months and you have not received any offers....there is a chance that it's overpriced. There are even better chances that it's overpriced by a lot. If a house is overpriced, but not by much, you still stand a chance of getting an offer (even if it is a low ball offer). Oh....one last thing, pay no attention to what your neighbor Carol is telling you. She said houses sell for a certain price in your neighborhood. If she really knew what she was talking about, she would tell you that she is referring to the listing price. The most important figure to study is what houses actually sold for in your neighborhood. Not the listing price.
U is for UGLY
At this point, you must be thinking...."Leander can't be talking about MY home". The truth is....maybe I am. Bob congratulated you on your fine home improvements. What he said to Carol after you turned your back was ...."Can you believe that crap he put in that house....I wouldn't buy that in a million years".
Even though buyers are looking for bargains, buyers have limited imagination. They have a hard time imagining their modern furniture in your country lodge decorated home.....or vice versa. When I give a listing presentation, I hate to see that has been very personalized. I say that because it appears to me that only a small percentage of homebuyers may like that style. I also hate that I have to tell the homeowners that they may want to paint over the ducks and take down the country décor, get rid of the black walls, get rid of the mirror tiles and rip up the white shag carpet..
When you are selling your home, try to make it look as neutral as possible. Remember, it's not your home anymore.....it's the new buyer's (the ones you are hoping to find).
C is for Competition
There are lots of homes available for sale these days. In Burlington Township, NJ, we have over 12 months supply. If your home is overpriced and doesn't show well (the nice way to say ugly) and faces competition from better priced nicer looking homes.......do you really expect it to sell??
H is for Highway
This section should have been titled L for location, but that would have messed my acronym. If you're home is in a bad location, there is nothing you can do about that. However, if you have it priced right, fixed up nicely so that it competes well, you have a better chance at selling.
So what should you do now. Well if you live in Burlington or Camden County, NJ the answer is simple....text, email or call me today. Set up an appointment for a consultation. As a Realtor and Real Estate Consultant, I specialize in helping prepare their homes for sale. One of my recent listings had an offer in 21 days and settled within 60 days of the listing. Results may vary in your particular case. But if you are looking to sell, why not give it your best shot.
Have a Great Day
And
Make This YOUR Best Year Ever
Leander McClain, Burlington Township Realtor & Real Estate Consultant, EXIT Buyers Plus Realty, 15 E. Broad Street, Burlington, NJ 08016 609-505-6578(cell)
