Scratching your head as to why your home has been stuck sitting on the market? There’s many potential causes, but here are some of the most common reasons as to why a house won’t sell:
The Home is Overpriced
This is usually the number one reason a home won’t sell. Buyers are looking for a good deal- an overpriced house just isn’t a practical purchase for home buyers, even if it is their dream home. If your home has been stuck on the market for a long time, look into completing a comparative market analysis (CMA) to find out what what similar homes in your area have recently sold for to get a good idea of a reasonable selling price.
The Local Housing Market is Over-saturated
Are there “For Sale” signs all over your neighborhood? If so, that could be a huge influence on why your home hasn’t yet sold. A “buyer’s market” means there are plenty of homes on the market for the picking- meaning more competition for you! To compensate for this, focus on curb appeal, staging, and making any necessary repairs or renovations to make your home stand out from the others.
The House is Too Personalized
Buyers want to picture themselves living in your home, so it’s important to clear the home of any personal items or decorations. This is a task that many home owners struggle with, and goes beyond just taking down family photos or children’s artwork. It will be extremely rare that a buyer has the same tastes as you- while you may love those your vintage floral curtains in the living room, a buyer may not appreciate the same style.
The Home Needs Some Repair
Moving homes is a lot of work, and buyers don’t want to move into a home with a list of things that will need touching up or fixing right away. Make your home move-in ready by taking care of any and all repair jobs that need completing, no matter how minor. A squeaky door? Sometimes a squirt of WD-40 is all it takes, and it’s one less thing for a buyer to worry about.
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