Who is at fault when your home doesn’t sell?
Your Buffalo home has been on the market for six months or longer and you are beginning to wonder why isn’t there a sold sign on the sign out front? You are thinking to yourself “I just want my Western New York Home SOLD!” There are so many factors that go into your home getting sold. At MJ Peterson we are regularly asked a very hard question – why didn’t my house sell? There are many reasons that your home did not sell. As your REALTOR I am helping you through this process. We can give you advice, market your home; but ultimately you are in control if your home does or does not sell. Let’s look at the top reasons a home does not sell:
There are areas in Western New York that there are only so many homes that have sold in the past year. The reality may be that it will take close to a year to sell your home because of the competition for the available buyers. If you are in this category, the condition and pricing of your home are very important. This is when you need to view what you are competing with.
There are so many buyers out there that want a home that is ready to move in and needs no updates. There are a couple of reasons why buyers want it to be that way. First off it is the most buyers are stretching to purchase the most home that they can for the money that they cannot make any modifications for some time.
Other buyers are busy professionals and they just don’t have the time to redo all the things that they don’t like. They would rather move on to find something that fits their needs. Then there are the group of buyers looking for the perfect home — if there is any work at all they are moving on to the next home.
If your home has outdated flooring, kitchen cabinets that are tired looking, appliances that are beyond their life expectancy you might want to fix the situation. Don’t forget that Kitchens Sell Homes! Kitchens are considered the heart of a home and can stop a buyer in their tracks. When your design choices get in the way of potential buyers, it is time to take stock in the situation and change the situation. No amount of marketing is going to get your home sold, and price isn’t always the answer in getting your home sold.
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Some times it isn’t the bones of the house — sometimes it is how you have decorated your home. A few minor changes and you can quickly find that your home is more appealing. We recently had a home sell over asking price with multiple offers in just a few short days because the owner spent $1,500 doing minor repairs and removed the items that in our experience stop buyers from wanting to make an offer. Don’t be afraid to contact a home stager and make a few changes that will appeal to the greatest range of buyers.
Does your Handyman Special have a stunning renovated price tag? You should be looking at price if your home is not in perfect condition. Don’t shoot the messenger, but if you need new carpets, have wild paint colors or you home has not been updated in 10 years buyers start multiplying a $1,000 expense by 10 and you see what the buyer thinks it will cost. But it is not just condition of your home that affects your list price, the biggest influence on price is the comparable homes that have sold in the past 3 months and other homes that have come on the market since you listed your home.
Are you ready to sell your Buffalo home? Marketing of your home is not just what your REALTOR does, you are part of the marketing of your home for sale and there are Ways to Sabotage Your Home Sale! You may not even know that you can affect our ability to sell your home. Your WNY home’s marketing plan is unique to get your home sold. As a Real Estate Professional, the marketing of your home is what I do. If price and condition are not optimum, I am at a disadvantage from the time the home is listed. It is why I say no to many listings. I would rather tell you no, than lie about your chances to sell at an unrealistic price for the condition of the home.
Thinking of selling your Western New York home? Interested in finding out the current market value of your single family home, condo or investment property? Then call us today at (716) 650-0051 to discuss what is happening in today’s Western New York Real Estate Market. We would be happy to give you a personalized Comparative Market Analysis for your home or assist you to purchase a home. View additional WNY Market Area Statistics here.
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All Statistics are gathered from the Buffalo Niagara Association of REALTORS®. Properties found on this Web site may be listed with a brokerage other than the owner of this site and are displayed here via the Internet Data Exchange (IDX) system of this broker’s MLS. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing nor displaying broker shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. © 2011 Western New York Real Estate Information Services (WNYREIS), LLC. All rights reserved. All Statistics are gathered from the Buffalo Niagara Association of REALTORS®. Properties found on this Web site may be listed with a brokerage other than the owner of this site and are displayed here via the Internet Data Exchange (IDX) system of this broker’s MLS. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing nor displaying broker shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. © 2011 Western New York Real Estate Information Services (WNYREIS), LLC. All rights reserved.