Why you haven’t been able to sell your house
The housing market is bouncing back, especially in Austin, Texas. There is a low supply of home and they’re selling very quickly, leading to this market being a ‘sellers market’.
Given that 150 people are moving into Austin, Texas per day and new construction isn’t able to keep up, this should be a sellers market for months to come.
So why hasn’t your house sold yet?
Here are the 4 reasons why you haven’t been able to sell your house yet:
- The Price is Not Right – After the bubble burst last decade, buyers are not willing to purchase based on projected appreciation. Therefore, if you want to sell your house quickly, don’t list at the high end of the market. If you want to sell fast, then list the property for what the property is worth or less. A flawed strategy is to list high and then drop. This strategy will simply just add days on the market to your listing and add to your holding costs until the day comes when you eventually sell at market price. Therefore, save yourself a couple months of mortgage payments and list at market price.
- Not Caring About Public Appearance – Selling your house is the time to keep it in its top shape. However, some sellers, especially if they’re behind on their payments, stop caring about the appearance of the house. I cannot emphasize how poor a strategy it is to stop maintaining your house when you’re trying to sell it! If you’re selling clothing, bedding, dishes or other small items, you would wash them before showing to a potential customer. Same with a car. Why in the world wouldn’t you want to clean a 6 figure investment like a home? If your house isn’t selling, there’s a good chance that you need to maintain your yard or clean up your house better prior to a showing!
- Stage Fright– Never leave a house to the buyers’ imagination. They shouldn’t have to imagine what the house would smell like clean, what the house would look like with a maintained yard or what rooms would look like with furniture. Failure to stage a house properly will doom your chances of selling it. Even if you’ve moved out of the house, keep some furniture there for staging purposes. Otherwise, you may only be imagining yourself selling the house anytime soon.
- Think Switzerland– You’re unique and you have your own tastes. However, if you’re improving the carpet or paint, don’t try to make the color scheme unique to your own personality. Keep your color schemes neutral. If the buyer likes neutral colors, great! And if they don’t, they can easily paint over a light cream color paint. Also, you want the potential buyer to feel like they are walking into their future house. It’s difficult for them to fantasize about this being their future dwelling if there are family pictures and personal belongings all over the place. Therefore, take down as many personal belongings as possible.
There are other reasons why some houses sell quicker than others, but the above are 4 of the more common reasons that houses stay on the market longer than they should. If you’re running into problems and require the assistance of a real estate professional, we have participated in more than 1,200 real estate transactions since 2004 in the Central Texas region. There’s very little we haven’t seen or experienced, however, we can’t help you if you don’t give us a call.
For more information on why your house isn’t selling or for assistance on how to sell your house fast in Austin, Texas, please click here.
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