Why Some Homes Don’t Sell in a Good Market
Lately, it seems all news about the real estate market is sharing how quickly houses are selling and how the market is coming back. Many homeowners are eager to put their homes on the market, but not all of them will sell. Why don’t homes sell in a “seller’s market?” Here at the Atlanta local movers, we want to find you some answers. There can be a variety of reasons why your home might not sell. The more that you know, the more you can plan and prepare to avoid common listing woes that keep homes from selling.
A crazy listing price. Price is usually a problem in homes not selling, and it can usually be fixed by adjusting the listing to a more reasonable number. This is especially hard for current sellers who bought their homes at the peak of the market and want to recover that cost—it just isn’t feasible in the current state of the market.
Tacky and outdated interiors. Mirrored walls, cheap wood paneling, old fixtures, 1970s wallpaper and other signs that the home has not been updated in quite a few decades can be a major turnoff for buyers. Many people see these issues as things they will have to pay and fix, on top of the price of buying the home.
Deterioration. Homes that are in a great neighborhood but have fallen into foreclosure are a tough sale for any seller. Strong smells, like pet, mold and water damage related scents, can be a huge turnoff as well because they are very difficult to remove. Many buyers are less likely to take on a real project like this as it requires extensive work, time, and money.
Bad location. Homes that are nice and updated run into a real problem when it comes time to sell if they are located near a power plant, waste treatment facility, or even a busy highway. Additionally, when a neighborhood falls into foreclosure and many homes are selling short sales, it makes it hard for buyers to view your home as one worth paying full price.
Poor design or layout. A strange floor plan can be a real turn off for people looking to buy their next home. Problems like walk through bedrooms or row houses that have very dated layouts and no modern changes can be a deal breaker when people are hunting for a new home.
The best house on the block. Living in the nicest house on the block isn’t generally something people want, especially if it’s the nicest by a longshot. If the homes around yours don’t reflect the same level of care or size, then buyers are not going to want to pay top dollar to stick out like a sore thumb among low-to-mid priced homes.
There are a few insider tips on what might hinder your real estate sale. Dealing with any of these can help to increase your chances of selling.