If your home has been on the market longer than expected it might be time to ask yourself some tough questions about the real reason it isn't selling. Real Estate expert Tammy Beckley shared three reasons your home may be languishing.
1) The Neighborhood
• The Location - Some people may feel a home is ‘on the wrong side of the tracks’ – what’s unattractive to some may be appealing to others
• The view – You’re in the right area but can see the highway from your living room window. Target the buyer that wants easy highway access for their commute. Also consider sound proofing at the house with new windows
• The Sound of Square Footage – Many feel having an airport close by, or train tracks to be a negative due to sound concerns. However keep in mind that these homes are priced accordingly meaning you will either pay a lot less than you would for comparable homes without these issues OR you will get more size in the home or lot.
2) The Price
• The price tag is too high – every seller thinks their home is worth more than it is
• You’re being penny wise and pound foolish by trying to sell without a broker to save on the fee. It’s simple economics; the larger the Buying pool, the more likely you’ll sell fast for top dollar.
• You’ve over-renovated and want a return on your investment. Learn what reno’s actually ADD value.
3) The Home
• Clutter – the number one turn-off for a buyer – try to see your home through a Buyer’s eyes
• Dated fixtures - bring your home into this century
• Overly personal décor – Grandma’s throw has sentimental value to you but it may depress your buyer
• Tired bathroom (re-caulk, new towels, coat of paint)
• Spot reno vs Overall update – So you put a beautiful new kitchen in your home; the rest of the house is still a dump.