Why Your Home Is Not Selling

Why Your Home Is Not Selling

There is little doubt that the housing market is enjoying a big boom as sales prices go up at a considerable rate. However, while many homes are selling very quickly thanks to the combination of pent-up demand and low interest rates, there are sellers whose homes are being overlooked. Understanding why your home is not selling will help you make the corrections needed to generate real interest and get it sold faster.

Asking Too Much

This is probably the most common reason for a house not selling is that the owners overpriced it. You will need to provide the right price for your home in order to attract attention. This means comparing it to other, similar homes that sold recently in the neighborhood which can be done through a real estate agent or with a little work and research on your own. Potential buyers have to see that the price you are asking is consistent with homes that have previously sold in your neighborhood.

Your Home Looks Terrible

An ugly home is a tough one to sell, so you will need to look over your property and see what might be driving potential buyers away. You can start by cleaning up the outside and inside of your home so that it is neat and then focusing on the areas which are causing people not to buy. You may need to do some remodeling or upgrades, but whatever it is needs to be fixed in order for your home to sell.  If your home needs more than cosmetic work, you may want to consider selling to an investor.  They will purchase your home as-is and with cash.

No One Can See It

Potential buyers may be driving right past your home because they don’t know it’s for sale. It’s pretty easy to see why your home is not selling is no one is looking at it in the first place. This means going over the listings to see if your home is visible. You may need to put up more pictures or change the listing so that it is more attractive.  The “for sale” sign in the front yard should be visible when driving down the street.

Mistakes in Listing

One of the bigger reasons for homes not selling is that their listing is inaccurate. There may be incorrect information that isn’t presenting the property in the correct manner. So, check the listing to see that it is accurate and favorable to your home.

Underwater

If you are underwater on the mortgage, then selling your home in the traditional manner probably will not work. Instead, if you are looking to sell for less than what is owed, a short sale may be the solution which will settle your mortgage. You will probably not need to bring money to closing and may even get paid “relocation money” from the bank when doing a short sale.

Outdated Design or Appliances

If your home is considered old and out of date, you will need to make changes in order to have it at least appear newer and ready to move in. This means updating all the avocado green appliances or painting the dark wood trim white.

Take Action

When it comes to why your home is not selling it could be many reasons from not getting enough leads to your home being out of date. Consider selling to an investor if you do not want to take the time, money, or effort to make the necessary remedies.