6 Reasons Your House Isn’t Selling

Not Selling 2

In an ideal world, you stick a sign in the yard, a pre-qualified Buyer shows up, and bada-bing-bada-boom — SOLD! In the real world though, home sales rarely happen that way.

The market in Metro Denver, and much of the country, remains strong; you can’t expect your home to sell overnight, but if your listing lingers on the market and showing activity begins to slump, chances are it’s not the market — it’s your house. 

Read on for 6 potential reasons your house isn’t selling.

Reason #1: Bad photography.   Your home needs to present beautifully in person, and online. The majority of Buyers begin their search online, and if your home photos are grainy, dim or unattractive, you may not pique enough interest to clinch a showing.

Reason #2: Lack of staging. Even in a Seller’s market, you can’t rest on your laurels and assume Buyers will fall for your home. Staging matters! Whether you pick up advice online and do your own staging, work with tips shared by your Realtor, or hire a pro — arranging your furniture, decluttering and depersonalizing your home will help your property appeal to more Buyers, and can ultimately lead to a higher selling price.

Reason #3: What’s that smell? Do not underestimate the potential for odors from pets, strong cooking smells or cigarette smoke to derail the sale of your home. Don’t rely on scented candles to cover up unpleasant smells; have your carpets and if necessary your furniture professionally cleaned, consider painting walls or ceilings in the kitchen or other problem areas to freshen the space, use unscented Febreze as necessary (especially before showings) and be diligent about tackling the litter box of other sources of odor while your house is on the market.

Reason #4: Ancient appliances. You don’t have to present Buyers with this year’s top of the line model refrigerator, dishwasher or stove, but if your appliances haven’t been en vogue since The Brady Bunch was new, you may want to consider an Appliance Allowance for potential Buyers. Dated appliances can drag the value of your home down.

Reason #5: The big “D.” Deferred maintenance is not an attractive look for any home. Cracked windowpanes, broken shower doors, wonky HVAC systems…when Buyers see a home in need of repair, they begin to wonder what larger issues lurk below the surface, and no one wants a risky investment. Replace broken items and have repairs made before your listing goes live to avoid these issues.

Reason #6: Your home is overpriced. If comparable homes are selling faster than yours, or several offers have come in significantly below asking price, it’s time to get real about the list price of your home. You, the Seller, don’t really set the price for your home; the market sets the price. If showings have slumped and homes similar to yours are selling, you need to take a look at comparable sold homes and adjust the list price accordingly.

DON’T SETTLE FOR A LAME DUCK LISTING. Drop me a line to let me know how I can help your home sell for top dollar and in a timely fashion.

Jack Meyers
Twitter: @jackestate


5 Classic Home Buying Mistakes Millennials Make

New generation…same old financial mistakes. But it doesn’t have to be that way! Chances are good, your parents didn’t take you and your siblings aside to share the finer details of the sale or purchase of your family home when you were growing up. Hey — I get it! Mortgage terms and price-per-square-foot are details lost on adolescent minds, but now that you are ready for #adulting, it’s time to figure out how this stuff works so you can do your home purchase right. Here are 5 mistakes home buyers often make — but you can avoid!

Starting your home search before pre-qualifying for a mortgage. You check your bank balance before hitting the grocery store, right? Don’t go shopping for a home before you’ve lined up home financing. And not a guesstimate, but an official letter from a mortgage company stating your qualification to purchase a home up to $XX with XYZ terms. Don’t fall in love with a house you can’t afford, or a house you’ll lose out on to another buyer because your financing isn’t in place yet.

Shopping without a list. If you had all the time and money in the world, you could shop and shop (and shop) for your home, and wait until you find the perfect home before making an offer. In the real world, there is probably competition in the marketplace, and you should shop with a top 5 list of non-negotiable wants and needs, including factors like the number of bedrooms and/or bathrooms, square footage, location, lot size, car storage, and possibly amenities like a gourmet kitchen, finished basement or fireplace.

Buying for right now — without thinking about 3-5-7 years from now. When you are ready take your first steps as a homeowner, think beyond your housing needs this month, this year, or even next year. Ideally, you’ll purchase a home you are likely to be happy in for 5+ years. Circumstances may change, and you might move on from this home before 5 or more years have passed, but you want to buy a home to suit your needs long enough that you’ll be able to gain equity over time, and if you buy a home and end up selling it a couple of years down the road, you may miss out on the maximum equity potential of the property.

Overbuying. You might qualify for a $450k mortgage, but does that mean you should buy a house for that amount? Not necessarily. Buy the best house you can afford, that will put you at a monthly payment you are comfortable with. Don’t max out your home purchase just to spend; max out your checklist items and the long term potential of your home purchase, and make sure you leave enough wiggle room in your ongoing budget to make the updates you want to in your new home, too.

Underbuying. By the same token, if you qualify for the same $450k and buy a lackluster 1 bedroom condo in a so-so neighborhood out of fear — you are selling yourself (or is that buying yourself…) short. Run the numbers, and certainly don’t set yourself up for failure a year or two from now if you can’t pay the monthly mortgage, but if you are too conservative in your purchase, the tiny pad you buy now might not meet your needs 2-3 years down the road, and you won’t have had time to build much equity in the property before it’s time to sell and move onward and upward.

Are you looking for a guide to help you find a great deal on the right home for you? I’ve been in the Denver Real Estate game for over 20 years, and I’m here to help. Drop me a line to let me know how I can make your home purchase plans a reality.

Jack Meyers
Twitter: @jackestate