Just driving around Central Florida, you may notice properties that have been for sale for a long time. Many sellers want to know why their property just seems to sit there. There are a lot of reasons for that, but it all boils down to three main factors: price, condition, and location.
Price
This is a buyer’s market. Buyers look at a house and ask, “What are homes like this in the neighborhood selling for?”
They don’t care what a seller paid for the house, how much was invested in it, what an online estimate says, or how much a seller needs to get out of the home to make their next purchase.
Sellers need to consider their competition.
What similar homes are currently for sale and for how much? What has recently sold? What does your home offer that the other homes don’t?
Pricing a home too high can mean fewer showings, fewer offers, and eventually, a price reduction or multiple reductions. And once a house has been sitting on the market for months, buyers may start wondering, “What’s wrong with it?” And buyers feel much more emboldened to make low offers.
Condition
You don’t necessarily have to completely remodel your house before selling it. But you do need to look at it through a buyer’s eyes. Buyers come into a home and immediately ask, “What is the age of the roof, a/c, plumbing, electrical?” You may need to put some money into those things to at least attract buyers to look.
Is the yard neat? Is the house clean and uncluttered? Are there little repairs you’ve been putting off? Does the paint look fresh? Are the rooms easy to visualize with someone else’s furniture? You may not get your money back from a $30,000 kitchen remodel, but a few relatively inexpensive improvements could make your home much more appealing.
Besides handling some of the big-ticket functional items, sometimes it’s as simple as cleaning, decluttering, landscaping, and taking care of the little things. There are staging companies that specialize in helping sellers use their own furniture and decor to prepare a house for listing.
Location
And then there’s location.
Unfortunately, this is the one thing you really can’t change.
A house on a busy road is still on a busy road. A home next to a commercial property is still next to a commercial property. But location is about more than just the street.
Buyers consider schools, nearby shopping and restaurants, commute times, neighborhood amenities, parks, traffic, and even the feel of the neighborhood.
The good news is that a less-than-perfect location doesn’t necessarily mean you can’t sell. It just means the price needs to reflect the location. This really can’t be stressed enough.
So, Why Is Your House Still Sitting There?
If your home has been on the market for a while, it may be time to take an honest look at those three things:
Price. Condition. Location.
And while you can’t change everything, you can make sure your home is priced appropriately and presented in the best possible light.
If you’re thinking about selling your Sanford home this fall, let’s talk before you put it on the market. Sometimes a little planning before the sign goes in the yard can make a big difference. Read more about Central Florida selling strategies at realtor.com.
