Whether you’ve had your house on the market for some time or are thinking about putting it up for sale in the near future, there are plenty of wrenches that can be thrown into your plan to sell your home fast and for the highest price the market can handle.
So, what could be keeping your house from selling?
While the housing market has been on the upswing for the past several years, varying market conditions can affect the likelihood of your home selling quickly. There could be an unexpected real estate market downturn in your city based on available housing, high interest rates, new construction or low employment rates.
Before putting your house on the market, you can have a conversation with a real estate agent or broker to discuss the strength of your housing market. Better yet, do your own research to avoid any bias that a selling agent might have.
Have you properly priced your home? Sometimes if you’ve listed your home too high and the market can’t handle that listing price, it won’t sell. It’s important to run the comps in your area to see what comparable homes have sold for in your neighborhood.
You also may think it’s a smart strategy to start high under the assumption that buyers will want to negotiate, but you might be pricing out many buyers from even looking at your home. It is likely buyers will think you’re not serious about selling, your home is just out of their price range, or that you have unrealistic expectations.
Neighborhoods can change over time. It may be that when you first moved into your area the houses were new, the area was growing and the home values were high. Over time people move to the next best up-and-coming neighborhood and older homes begin to show their age.
It’s so hard to know exactly when your home will be at its highest value and if your neighborhood will change over time. But it’s important to understand the value of your home before you list it, even if it has gone down in price from when you initially bought it. Sometimes you’re just on the losing end of the housing market.
Some seasons are tougher than others when it comes to selling your home. If you live in a colder climate it’s harder to get potential buyers out to a viewing or open houses in the dead of winter. And for most families that have kids out of school for the summer, they will put off house hunting to the fall months.
While these lulls in the house hunting seasons don’t last very long, they could put a damper on your efforts to sell your home fast.
For those looking to sell their home quickly and for a competitive price without all the stress of listing agreements, real estate agents, open houses and lengthy closings – there is an alternative. Selling your home to a real estate investor can mean quick turnaround and an easy process. Many investors pay cash and close quickly with little negotiation or time wasted.
So, if selling your home quickly is your highest priority, think about the advantages you could benefit from when selling directly to a qualified real estate investor.