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It would not be realistic to expect your home to sell immediately (though some do), but a home that has been on the market for longer than average may have some underlying issues that are preventing the sale. Learning the most common reasons that a home fails to sell, even when others are moving swiftly, can help you determine what strategy you should use to jumpstart your listing and sale.
A home that is priced too high for the current market will take longer to sell, simply because buyers have more options and may choose a home that is more aligned with comparable recent sales. Ideally, your home should generate some interest when listed and should come in close to fair market value. About 22% of all homes miss the mark the first time around and end up dropping the price within the first three weeks, according to the National Association of Realtors. Your real estate agent can help you find a price that ensures buyers will be interested -- and hopefully covers your needs as well.
Some buyers shy away from viewing FSBO homes; you may also have fewer resources when it comes to marketing. A real estate agent can advertise your home in places you can't and also has a steady stream of interested buyers. You can sell your home yourself, but you should know that a For Sale By Owner home may sit on the market longer than those placed with real estate agents.
Clutter does more than just make your home look messy -- it prevents buyers from envisioning what their own furniture and decor would look like in your space. This very common issue is one of the most easily fixed; simply tuck away personal items, photos and declutter thoroughly as soon as you can. When you give prospective buyers a chance to see the home and rooms instead of your stuff, you increase the likelihood that they'll buy.
All the wonderful things that make your home stand out and that make it uniquely yours may not align with the rest of the neighborhood or current trends. The more different your home is, the longer it will take to find your perfect match. An indoor pool, unusual room configuration or home shape or eclectic color combinations could mean your home is on the market for a longer period of time, as you wait for the right buyer to arrive.
The longer your home stays on the market, the more disruptive it is to your own life and schedule. If you've packed away possessions, they'll have to stay in storage, and you'll spend your time waiting for calls from agents who want to show your home. Selling quickly results in the best possible outcome for you, both financially and for your time, so discovering what factors are holding things up is essential if your home is on the market but not selling.
Angela is a San Pedro and Palos Verdes native, and is very familiar with the benefits of living in this wonderful coastal area of Southern California. As a key member of the family real estate business, Henry Falkenstein & Associates, she is able to service clients in San Pedro, Palos Verdes and the South Bay areas with ease. Whether you're a "first time" home buyer, a home seller or seasoned investor, she will ensure that you have all the necessary data and resources to make completely informed decisions about your real estate transactions. Her job as your Realtor isn't complete until you are 100% satisfied with her service!