Why Isn’t Your Home Selling?
So, the real estate in your city is booming but your house has been on the market for a while and there is no bidding war or, frankly, much interest. What gives? Well, it is somewhat difficult to reconcile why your home isn’t selling, as it is your beloved home after all, however, one of the four reasons below could be hampering your sale.
It may not be the law in your jurisdiction to disclose if anything such as a murder, suicide, or other death occurred in the house. However, if something like that happened, your neighbors likely know. And neighbors gossip. So if this is the case, consider renting the home for a bit or be more negotiable on the price point. Houses carrying stigma could see a price drop of 10 – 30%.
Bad Feng Shui
There is a reason that most homes are staged in the same bland, boring way: people want to envision themselves living in your house. it is hard to do that when your style, which may not be their style, is all over the place. This is especially true if you have family photographs everywhere. You should get some of your good friends of family members over for an honest appraisal of your home. You must promise not to be offended at the suggestions. If you simply have too much stuff, rent a storage until for a few months and remove everything except essentials.
While the inside may be beautiful, your home may lack curb appeal. This can be fairly easily remedied by landscaping the property – or hiring a landscaping company to attend for the weekend (you should get a recommendation from a neighbor), repainting any chipped paint, and possibly getting a new front door. Surprisingly, a little will go a long way.
If your price is too high, it will stay on the market. You may have put tons of upgrades into the home but those upgrades may not be something the buyer would have put in, so the buyer is not willing to pay. It is a good idea to get an appraisal done of your home to assess the value. A private appraisal can run up to $500 but if your home is sitting on the market for a considerable period of time, a private appraisal will help set your expectations, and will also serve as an important piece of information for negotiating the transaction – say, if a potential buyer offers too low an amount.
Did you have a house that wasn’t selling for a long time? What did you do? We would love to hear your experiences.