If you are trying to sell your home in the Dallas area right now, you have picked a good time. Market conditions favor the seller and home inventories are low. Most homes listed in a seller’s market sell within six to eight weeks. But if your home has been on the market for several months and still has not sold, it’s time to evaluate your strategy to determine why it has not sold. Here are a few of the most common reasons why a home does not sell even in a seller’s market.
- It’s Priced Unrealistically High
In a seller’s market, prices will rise due to lack of inventory and competition between buyers. However, if you have priced your home far above its market value, buyers will shun your home in favor of others that are a better value for the money. Even in a seller’s market, there are limits to what you can get for a home based on the neighborhood, condition and finish out level of the home. If you are asking far more than what most comparable homes are going for, then your house is going to be far less likely to sell.
- It’s Unpleasant
Poorly done remodeling, a bad floorplan, or an unpleasant odor are factors that most buyers have a hard time overlooking. These and numerous other factors can diminish the appeal of a home, resulting in extra time on the market and a lower likelihood of a sale.
- It Needs Major Repairs
Structural damage, foundation problems, issues with the roof, or even faulty heating or cooling systems can all impact the odds of selling a house. People don’t like the prospect of sinking thousands of dollars into repairs soon after buying a new home, so a need for major repair work will be a turnoff.
- It Has a Lien on the Title
Liens against your home’s title can jeopardize a sale. These include tax liens, court order judgments, mechanics liens, property disputes, or even child support orders. Each of these could complicate things for you and a buyer in the event of a sale.
- Poor Marketing
Your home needs to have enough exposure to be found by buyers amidst the numerous homes on the market today. Professional photographs that depict the home’s best features are particularly important. The best marketing takes a multifaceted approach—no single aspect will be enough. If you’re skimping on marketing, it can prevent a sale.
- It’s Out of Date
Old houses will have outdated utilities, plumbing, amenities, and materials, and that creates a burden for buyers that they can avoid by simply purchasing a different, more modern home.
If your home hasn’t sold, it may be best to consider selling to a home investment company. SellMyHomeToday.com will buy your house for cash with no showings, no open houses, no inspections, no repairs, no updates and no concerns about marketing or fancy photographs. To schedule an appointment, contact us today.