Your home won't sell?

What should you do if your house won't sell?

Unless market conditions are very poor, the failure of the home to sell within about six months usually indicates a problem - usually with the price and sometimes with the condition - or both.

The most common reason for a property not selling is price. A house priced correctly from the start captures the interest of Realtors and buyers, while overpricing a home chases them away. Even if the seller drops the price later, once buyers and Realtors have lost interest, it is tough getting them back.

The second culprit in a slow sale is the condition and appearance of a house. Sellers shouldn't rely on buyers to use their imagination; they need to capture it. Remember that a buyer may see six or seven other homes in the same day - they will remember the house that seems the brightest, the most spacious, the most cheerful. This almost always means rearranging and eliminating furniture, removing excess knickknacks, etc. to create a simple, streamlined look. Lakes Region Properties can help with suggestions.

Far and away, however, trying to sell a property at the wrong price is the key reason a home does not sell. It is only natural to overestimate the value of a home - after all, it is yours! However, when determining the price, it is important to be objective.

There are a number of price indicators, but the most important one is the price of a comparable property.

Many owners go wrong on pricing because they look at homes that are listed instead of properties that have been sold. There is a major difference. Anyone can list a property at a high price, but that does not mean it will be sold at that high price. The key is to find out what properties have recently sold and for how much. Property owners who follow this procedure usually are more successful.