Why Do Some Homes Sit Longer?

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Real Estate

It’s a hot seller’s market so why do some homes remain on the market longer than others? The logical conclusion must be price. Price a home too high and it simply does not sell. In most cases, that is only part of the problem. Not long ago buyers were able to visualize the potential in a home and were willing to apply a bit of “elbow grease” to fix and update a residence if necessary. That is just not the case anymore. Buyers gravitate to anything that has a model home look and feel. Homes that have been totally redone are very appealing. As long as the price is right, the closer a home looks to model perfect, the faster the home will fly off the market.

Some sellers may jump into this hot market before investing in their property. From scuffed walls, scratched floors, carpet stains, popcorn ceilings, original door and bathroom hardware, outdated light fixtures, ceramic tile kitchens, etcetera, all contribute to a home that feels used and worn out. Even a 10-year old remodel may have a lot of wear and tear. Buyers subtract a lot more than it costs to take care of the deferred maintenance. Addressing maintenance and cosmetic issues prior to listing increases your chances of a fast sale dramatically.

Price is the most important factor in successfully selling. Overprice a home in a sizzling hot seller’s market, and sellers will not find success. Instead, they will simply sit and waste valuable market time. Be it tomorrow or 10 years from now, I am here to help you craft the best plan to obtain your goals.

 

My life has changed during this pandemic more than just selling houses! I’m also the proud aunt to my second niece, Goldie. Abigayle and now Goldie are the perfect reminders to not lose track of the things that are truly important in life. These little ones remind me the simple things in life are the most precious and to laugh and play even when it seems impossible to fit it into the day.

A home’s Fair Market Value is determined by its location, age, condition, and improvements. Homeowners can do nothing to change the location and age of a home, that’s a given; however, they can address the condition and amenities. To fetch top dollar, a homeowner who has lived in their house for years must be willing to make an investment in their home.