Find Your Home!

Thursday, September 22, 2016

How could a house not sell?

The title question is a an open ended question.   There are multiple ways to not sell a home.  

In all likelihood the biggest reason no offers come is price.  One of the first questions most sellers wrestle with is determining the selling price.

So how does a seller determine the listing price? 

One answer I heard recently was " I paid this much for it plus I have put this much into it.  Besides, my home is better than all the others in the area so your comps do not do it justice."

In an ideal world the above answer would be the ideal answer.    
But we do not live in an ideal world.

While showing homes not long ago a prospective buyer asked me how much value a pool would add when selling a home.  My response was simply  "not as much as you will pay for the pool.  Install a pool if you're going to use it!"

Determining how much your home will sell for is a function of multiple issues and characteristics.  Some of those include...
  1. How old is your home?  
  2. What is the condition of your home?  
  3. Where is your home located?  
  4. What are the competing properties?  
  5. Has there been any major updating?  
  6. What about any major systems issues (roof, AC, electrical and plumbing)?    
  7. What are the current market conditions?  
  8. Who are your potential buyers?   
  9. And a few more depending on the property.
How does a seller determine the projected selling price?  Call a local real estate professional and schedule an appointment for a comparative market analysis and consultation.

Ultimately, the market will determine the real price.

If one hires a knowledgeable local agent and follows their advice as well as cooperates with reasonable showing requests...there is no reason for failure.

Follow by Email