When you are trying to sell your home and it’s not selling, there can be numerous reasons why.
Price May Be Too High
Price is critical, If it is priced to high it will normally set their and not sell, especially when homes in the area are set at a lower price you have to be willing to compete. Even if you get an offer on an inflated price it can fall apart when the appraisal fails to make value.
Remember you will have to compete against all the other homes so if your home needs work invest where you create most of the value. If your home is appealing, your chance of having a fast sell improves. Most buyers look at a home emotionally, a good majority can not visualize improvements that have not been completed. Painting and new floor covering makes a huge difference. It normally is not that expensive but can help you get it sold and create significant value.
Location, Location, Location
It is true; it’s all about location when buying a home. In appraising terms for buying a home that affects the value is called Economic Obsolescent anything outside of the property that affects value. (Example would be if an airport was close and planes were flying near your home or you have the nicest home in the neighborhood, busy roads will lower the value. In these cases the price may need to be adjusted to reflect its true value.
The Market is Slow
In the last 5 years the housing market has definitely slowed down. There are too many homes on the market and not enough buyers. If you want to sell during a slow market you need to lower the price, buyers know you can always find a good deal.
Home Need to be Accessible
Sellers need to make their home more accessible especially when realtors have buyers ready, willing, and able to buy. Most realtors will show the homes that are easiest to see,
Especially weekend, the easier to get in, the faster you can sell your home.