Q: We’ve had our place off and on the market for a long time now and aren’t getting any offers.
We keep it neat and our agent holds open houses regularly but there is just no traffic. I see that other houses are selling, even in this depressed market, and I wonder why ours isn’t. Any ideas?
A: You do keep your house looking very nice for showings, which has to help. However, it has a very poor floor plan that buyers don’t usually like. It’s also on one of our really busy roads and most buyers want some peace and quiet in their lives, that’s why they want to move to Vashon Island.
I see from the records that when you bought your house, you paid about 15% less for your home than competing properties. It’s possible that the busy roadway and the odd floor plan were an issue then too.
Since nothing has basically changed in the house over the years, and the road is even noisier now, you may have to price your home at least 15% lower than other houses of similar size and general category. At this point, your house is actually priced for more than a competing home nearby that is larger and has been recently remodeled.
Keep in mind that your goal should be to get it sold and move on with your life. While it sits there unsold, you are still paying taxes, insurance, and mortgage payments every month. That is money lost that won’t be regained regardless of when your house sells.
We all think our home is better than anything else out there for sale. But the truth is that if your house was less than desirable when you bought it, and therefore you got it for a bargain price, it will also have to be set at a bargain price today to sell.
The next time you list the house for sale, sit down with your listing agent and do some math. Figure out what the price has to be to get that home sold. Best of luck.
A: You do keep your house looking very nice for showings, which has to help. However, it has a very poor floor plan that buyers don’t usually like. It’s also on one of our really busy roads and most buyers want some peace and quiet in their lives, that’s why they want to move to Vashon Island.
I see from the records that when you bought your house, you paid about 15% less for your home than competing properties. It’s possible that the busy roadway and the odd floor plan were an issue then too.
Since nothing has basically changed in the house over the years, and the road is even noisier now, you may have to price your home at least 15% lower than other houses of similar size and general category. At this point, your house is actually priced for more than a competing home nearby that is larger and has been recently remodeled.
Keep in mind that your goal should be to get it sold and move on with your life. While it sits there unsold, you are still paying taxes, insurance, and mortgage payments every month. That is money lost that won’t be regained regardless of when your house sells.
We all think our home is better than anything else out there for sale. But the truth is that if your house was less than desirable when you bought it, and therefore you got it for a bargain price, it will also have to be set at a bargain price today to sell.
The next time you list the house for sale, sit down with your listing agent and do some math. Figure out what the price has to be to get that home sold. Best of luck.



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