It’s an unfortunate thing, homes that are listed on a given real estate market and do not sell. This can be a huge cause of anguish and stress for the owners as they have to reduce their price to eventually sell the home. There are a variety of reasons that homes don’t sell, some of them are financial, some are related to the home itself, and finally some are related to the market. The last of these reasons, a typical seller has no control over so it’s pointless to try. The most that can be done is to research the current market trends and list your home at a time when its a sellers market.
The other two reasons, a seller does have some control over. One of the main reasons that homes don’t sell is the fact that they are overpriced. It is a natural want when selling your home to try to get top dollar for it. However when considering your asking price you cannot tie your emotions and memories into the decision. It is acceptable that you place a higher value on your home than a buyer. You have an emotional tie to the home which can cause homes to be priced above their market value. The best way to discover the current market value of your home is to have a comparative market analysis done by your realtor. This compares your home with other homes of like size and amenity that have sold recently in your area. This will give you a decent number to start the pricing of your home from. Use it as a baseline, not an absolute.
Another reason for a home’s presence on the market for a long time can be the home itself. Have you taken the time to ensure that you home is as attractive as it can possibly be? Buyers are a finicky lot and will pick out any imperfection in a home in order to get a lower price. If a home is not presented properly, that is; completely clean and in order and in pristine shape it becomes more difficult to sell. You must also be ready to show the home at any time. Ideally you will have some notice as to when shows will happen but if someone wants to see the house immediately, it needs to be ready to show immediately. Hopefully this has helped to shed some light on reasons why homes sometimes languish on the market, make sure yours isn’t one of them.