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Health & Fitness

Help for Homes Languishing on the Market

Do you find your home sitting on the market longer than you wish? Read my blog for some tips on how to solve that problem!

Do you find yourself wondering why your home has been on the market so long and wondering what you can do to get it sold? While lowering the price might be an obvious answer, there are other reasons your home might not be selling.

 

Problem #1: Lack of Curb Appeal

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Did you know that most buyers make a decision about whether or not they like a home in the first 5 minutes? Make sure your home gets the attention it deserves by securing a great first impression. Basic landscaping can do wonders including; the addition of bark mulch to garden beds, fresh plantings, and neatly-trimmed lawn and trees.  Apply fresh paint to wooden fences, the front door, and any other surfaces that could use a touch-up. Make your windows sparkle with a good cleaning, and ensure all fixtures are tightened.

 

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Problem #2: Cluttered Interior

Staging your home for sale is one of the best actions you can take to create an appealing property. By hiring a professional stager you can present your home in the most attractive light to the majority of home-buyers. Theoretically, staging is not hard or costly, the reality of the process is that homeowners find it difficult to stand back and objectively view their home. If you wish to go about this process on your own, do your research. You can profit from the knowledge of visiting a decorated model. Builders are willing to invest in the cost of staging because they understand just how well a staged home sells.

 

Problem #3: Overpriced Home

Your home may not be at the proper price point for the market, take a step back and re-evaluate the market position. Always remember, for every three weeks your home is on the market, a seller should have 8-10 showings and the seller should receive at least one offer that can be successfully negotiated.  If you have less than 8 showings it means your home is overpriced or if you receive more than 10 showings with no offers that also means that it is overpriced.

 

Problem #4: Overstated Expectations of Seller

You must find a real estate agent whom you trust, as well as one who is honest. A qualified agent will be able to paint a realistic picture of the expectations of the market. The market does not care what a seller owes on the house, paid for the house, or the money they put into the house.  The market ultimately determines price, not the seller.

 

Problem #5: Overexposure/Significant Number of Days on Market               

As a final point, if you find your home has spent an unreasonable amount of time on the market you must adjust price dramatically.  Once the property has been brought to market there is little a seller can do other than adjust the price to re-engage buyers.  The first 30 days is critical.

Work with your real estate agent to determine if you can benefit from implementing any of these solutions.  With careful attention to these points, you should see a turn-around in your home sale!

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