Well, haven't seen many new threads posted here for a while so thought I would post one. What is the biggest hurdle facing sellers now days that is keeping them from being able to post that "Sold" sign?
I'll toss out a few ideas that come to me ~ competition from lenders putting massive inventories into the market, pricing too high due to inflated seller expectations, chasing the market down, the economy in general and failure to "market" the property properly on-line including poor photography/verbal descriptions. The list goes on and on....
The areas and the job market rule some of what sells and does not .I bough a foreclosure last year as an investment with 12 acres 27 thousand dollars .The people living there get a break 200 dollars a month and they are working on the property so they can own it .I see foreclosures around me for 5 thousand on an acre and no jobs for people to buy and no loans they can get .What is funny saw people at my bank trying to get a home loan and they could not .There vehicle loans did them in ,They tell the bank loan person well I need a new vehicle every year or so .I like new they say .The lady goes to get some papers and the people are angry at her ,angry why they want new cars and high bills for them .They are sitting on the other side of me complaining .There car notes I hear are 300 dollars a month each .WOW .It is not the homes it is the people wanting the loans .What is more important .I happen to notice there cell phones also .oh well young people want it all .
Primarily competition with short sales and too often sellers' unrealistic expectations. For example: not only am I emotionally attached to my home, I remember 2006 when neighboring homes were selling for double todays market. In the 4 county area here, investors are snatching up houses priced under $200K (often paying cash) before buyers who hope to beoome home owners can submit an offer.
Posts: 5016 | Location: NE of S.F. | Registered: Apr 13, 2006
I agree with many of the other ideas (price, price, location, location) - but I also think many sellers really believe that buyers should be able to "see beyond" their stuff, and they leave the place FULL because that's the way they live. Don't get me wrong, I live the same way - but most people cannot see beyond that, and it kills many sales. Also, when a person doesn't maintain their house assuming people will just buy it as is.... Just drops the price, and keeps people from seriously considering...
I agree, DebiinFl - most homeowners who are hoping to sell underestimate the selling factor of a CLEAN and UNCLUTTERED house - shrug their shoulders and say, well, everyone knows we're still living here. Major mistake. No one even notices the bones of the house or its potential when they are looking at every day clutter.
I agree w/ the last two posts - before you even start haggling price or loans you have to get someone willing to go thru the process. A home that is cluttered or unappealing simply won't cut it. A clean, fresh smelling home that is attractively staged will have a distinct advantage over a home where there is pet or cigarette smell, unmade beds, out of date decor and uninviting arrangements. Many people cannot see past what's in front of them. Even if you don't hire a professional Stager at least call one in for a check list - this is usually about $100 and the Stager go thru your home and give you a list of things that YOU can do starting with "have to do" items and going down to "really would be nice to do" items, and usually the approximate price of each. ALso listed, usually, will be her price for just doing everything for you so you can decide if you want to be bothered with it or just turn it over.
Good idea to consult with a stager for all the reasons cited above.
In my neck of the woods, the top realtors have stagers available to work with home sellers. The realtors pay for basic staging services, if you list with them. These stagers generally spend an hour consulting by touring the home and giving the seller some "homework" to do in order to make the home market-ready.
If the home is vacant, the stager will come in and accessorize or fluff the rooms with just a few items and sometimes serve as a stylist when professional photos are taken. All that takes about one hour.
For really involved projects, especially in vacant big-ticket homes where furniture and accessories might need to be rented, the home seller will have to pick up all those costs. But, that is a pretty rare situation, depending on where you live.This message has been edited. Last edited by: aychihuahua,
I agree with others. Our Realtor paid for a stager to work with us. Fortunately, we didn't have any remodeling issues to address. Our home was spotless, and needed no repairs. And after we got an offer, the home inspector found zero issues. Also, you have got to be realistic with your selling price. Some homes that went on the market around the same time we did are still unsold five months later. They've dropped their price by $50k. But I think it's too little too late.
Posts: 92 | Location: United States | Registered: Mar 18, 2006
houses used to be an investment in your future but now sometimes it can be a ball and chain .A lot of people want a brand new home saying no upkeep and then they learn fast you better learn how to do things and repair things or the house can turn into a money pit fast .All house's need care just like anything they need work .I have seen brand new houses built around me and they had beautiful landscaping and now are weed choked messes and gravel driveways with grass growing in them and dead lawns .They are mulch messes because they did not keep them up .Lucky they mow them .
The home must be clean and uncluttered. Take down all the personal stuff that we all have in our homes. The yard should look inviting--grass is mowed and without weeds, flower beds have flowers in them not just a bunch of mulch. Add some containers with flowers that lend color. After all, there are so many homes for sale, what makes a buyer want to visit a home that looks like a mess from the outside? If it's winter in a cold area, are the drive and walkway plowed or do potential buyers have to crawl over mounds of snow? In the fall, are the leaves picked up or are there piles of leaves everywhere? The outside is very important to a potential buyer, unless you are giving away the home, make the property look appealing. If I see a messy yard, I immediately think that the people didn't care about maintenance in general. Why would I expect the inside to be any better?
Posts: 2550 | Location: Ohio | Registered: Feb 25, 2006
When it was a seller's market (I never pick that time to sell, only to buy), people would buy issues just to get in the house. Now, it is completely a buyer's market, and because there is so much inventory, people are not willing to buy problems - and why should they? Even on these boards, you hear of people with houses that need tons of work wanting top price for their house because they need it, but we all know (again, maybe it's just our experience) that people aren't going to pay top dollar for a house with issues.... It's an issue everywhere. The house we bought had some issues, but we bought it short sale, and still think we got a good deal. Well, we know we probably won't get back all the money we put in it, but we're used to that from our other house... . I have a team that has been pretty much living with us for a month doing all kinds of cool stuff.... A little bit at a time... . For selling though - CLEAN, declutter (that's what PODs are for...) and do the little repairs needed. Not doing that today will not only kill the price you wanted - it will stop people from even making an offer...