You love your home. Your friends love your home (or say they do). Certainly people looking to buy a house will love your home. Right? Is that how you feel? Well join the club. It's a big club. Sellers are usually dumbfounded when they get no offers. But the answer is simple. It's one of two reasons keeping you from getting offers. The price is too high or it's not showing well.
Let's first talk about price. Who determined the price for your house? Was it you or your agent? If it was you, it is probably too high. Most homeowners are too biased to make realistic assesments of their home's value. If your realtor determined the price, that is no guarantee that it's not priced too high either. I once sold a house I had relied on my agent to price accurately for the market. I had no clue what it should sell for so I left it to the 'pro'. He declared my house "unique" for the area but after doing a market comparison he priced it at $589,000. It ultimately sold for $450,00 which I now believe was the right price. Unfortunately, it took just under a year and multilple price drops to get a buyer. I believe it would have sold very quickly had it been priced right in the first place. But I blindly took one agent's word without getting a few other opinions of my home's market value.
I strongly recommend doing your own market research and seeking at least three opinions of from people who are experienced and knowledgeable about the market in your immediate area. If your home is priced right and still sits on the market without offers, you need to consider reason #2. Stay tuned for my next post......'What do you mean it's not showing well? My house looks great'. http://www.eastcoaststagingandredesign.com/
Let's first talk about price. Who determined the price for your house? Was it you or your agent? If it was you, it is probably too high. Most homeowners are too biased to make realistic assesments of their home's value. If your realtor determined the price, that is no guarantee that it's not priced too high either. I once sold a house I had relied on my agent to price accurately for the market. I had no clue what it should sell for so I left it to the 'pro'. He declared my house "unique" for the area but after doing a market comparison he priced it at $589,000. It ultimately sold for $450,00 which I now believe was the right price. Unfortunately, it took just under a year and multilple price drops to get a buyer. I believe it would have sold very quickly had it been priced right in the first place. But I blindly took one agent's word without getting a few other opinions of my home's market value.
I strongly recommend doing your own market research and seeking at least three opinions of from people who are experienced and knowledgeable about the market in your immediate area. If your home is priced right and still sits on the market without offers, you need to consider reason #2. Stay tuned for my next post......'What do you mean it's not showing well? My house looks great'. http://www.eastcoaststagingandredesign.com/
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