5 Top Reasons Why Your House isn't Selling
The real problem might not be the house itself, but the way you're marketing it.
You've painted, kept the lawn mowed and even installed a new roof. So why is your house still languishing on the market after several weeks have passed? The answer might be right under your nose, or it might be a combination of things.
The good news is that you can probably make adjustments that make your home more attractive to buyers. It might seem like a sacrifice, but if selling is important, modifying your approach is equally so.
Here are 5 top reasons why many homes spend too long on the market:
#1: Can't See the Home for the Stuff
Your home is your castle and you've decorated it accordingly. But buyers want to see what they're buying. They're not buying your beautiful sofa, coordinating chairs, tables, decorative platters or your photo collection of Great Aunt Myrtle and Uncle Floyd. For an extreme example, check out the home at the Little Things blog.
Room stagers have a philosophy that nearly always works: Less is more. When selling a house, that's almost universally true. You want your home to be furnished, and you need it that way if you're still living there. But cut back on the decor, especially with personal items. Nobody wants to see a cupful of someone else's toothbrushes on the bathroom counter, and Myrtle and Floyd will be safe tucked away in a box until you move into your new home.
Go neutral and you might notice a big improvement in activity.
#2: Too Much Great Taste
You've followed the design magazines to the letter and stayed on trend. But the sad fact is that buyers are all different, and it's a safe bet that half of them don't share your taste. The best approach is as clean a slate as possible with everything that's staying behind when you sell.
The good news here is that Benjamin Moore's color of the year is white. White walls sell much easier than anything flashy. If you really want color, opt for the classic 'for-sale khaki.' That's a neutral that softens a home without overpowering it. Remember that buyers need to envision themselves living there. It's a lot easier when the home doesn't come with a built-in color scheme.
#3: Something Smells Funny
You've probably seen the commercials, but being 'noseblind' is a real thing. The scientific term is 'olfactory fatigue.' When you live with a particular smell, you get used to it. In time, you probably don't notice it at all. Maybe it's a touch of dampness coming up from the basement. Or maybe you need to switch to a different brand of cat litter.
Smells are one of the biggest turnoffs for any prospective buyer. If it's a stale smell, buyers will wonder whether there's a health hazard lurking in the walls. If it's an animal, allergy sufferers might walk away. To find out whether you're suffering from olfactory fatigue, leave the house for a day and then take a few whiffs of fresh coffee beans or ground coffee (not brewed) before walking back inside. Coffee is said to reset the nose, according to The Roastirie, and allow you to smell what you might not have noticed.
#4: A Picture is Worth a Thousand Looks
Maybe everything with your home is exactly right, and the real culprit is the photo spread where your home is listed online. Most home shoppers do a lot of Internet research before ever viewing a house. If your photos are blurry, make rooms look smaller than they really are, or don't show it in its best light, it's far too easy for buyers to click on through to the next listing.
You know how great your house is. But U.S. News and World Report reminds that buyers only know what the photos reveal. Take a long and very objective look at how your home is presented. It might be worth it to invest in a photographer, or at least take all new photos on your own and select the best ones.
#5: The Price is Wrong
It's understandable. You want the highest price for your home, and you'd do almost anything to get it. Think of all the improvements, and how much the appraiser said that it's worth. But if it's too high, you might price yourself completely out of the market.
The appraised value and even the tax appraisal don't always matter if the local market is moving slowly and for less money.
The home valuation tool at eppraisal shows the estimated value of your home plus what other homes in your area have recently sold for. That might help you find a more attractive asking price.
Click and get your free property valuation today and see how your home measures up against others in the area.