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Problems Selling Your House? Here Are the Reasons Homes Don’t Sell

If your home has been on the market for many months without receiving any offers, what could be the problem? Of course, when the economy is down, houses don’t move as fast. But now the housing market seems to be making a comeback. Many houses move quite quickly. If you are frustrated with the lack of interest in your home, you may want to consider the following suggestions.

Is your home priced competitively? Many homes are selling quickly today because prices are still falling and interest rates are at record lows. This is not the best time to ask for more than the true market value of your home. Buyers have many home options, and most couples won’t overpay for a home—even yours!

How do you know if your home is fairly valued? A method used by most real estate agents is to compare your home to similar homes that have been sold in your area. It’s important not to compare apples to oranges. If your home is a ranch, you can’t compare it to a two story home. Comparable homes must have approximately the same square footage and lot size, the same number of bathrooms and bedrooms, approximately the same age, and the same construction.

Often the houses that sold did so at different prices. For example, your agent may tell you that one house sold for $200,000 and another for $250,000. If this happens, you should look at the two houses and compare the other characteristics. For example, a more expensive home might have an updated kitchen with new appliances, new hardwood floors, and possibly a finished basement.

Maybe the lower price didn’t have it. You might think you can automatically price your home in the highest price range. If your home has all the same new features, you probably can. However, if your home is more like a home with a lower price tag, you need to face reality.

Should you make improvements to your home to increase its value? Yes and no. You don’t want to spend $50,000 on a new kitchen and finished basement when all you’re going to get back is your initial investment. However, you can make improvements that offer you a good return.

Curb appeal is very important. Make sure your lawn is in perfect shape, mowed and trimmed. Flower beds should be free of weeds and freshly mulched. Bushes and hedges should be trimmed and the yard should be free of debris.

A fresh coat of paint is an inexpensive improvement, but will make a big difference. Also, make sure you give your watch a deep clean from top to bottom. If for some reason you can’t do that, spend a few hundred dollars and have the professionals come in and thoroughly clean everything.

If your home is priced right and everything is sparkling, fresh and clean, your home will sell. Before you get frustrated and do something rash, follow these few simple guidelines and then see how potential buyers view your home.

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