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Why You Aren't Receiving Purchase Offers?
Sunday, November 13, 2011
Why am I not able to sell my house
? Most homes are now worth much less than they were just five years ago. Ever since the mortgage fraud bank blow outs in 2008, the foreclosure rate has gone up to unprecedented rates. A great deal of inventory has flooded the market. Bank owned properties and short sales are selling for unheard of, rock bottom prices. Most homeowners have been hit with a harsh reality that homes are no longer going to get the price that they need to have to move up or even move to another home of the same value. For many home owners, selling a home in today’s market, means losing money.
It is true that in order for home owners to get a good price for their home now, they have to have a mind set of becoming extremely competitive about pricing and preparing the home for sale. The answer to the question, how do I sell my house
in this vast buyer’s market? The answer most often is to consult the experts that know how to showcase a home. This should be done after having a complete market analysis done on the home to get a realistic price for the home. This can be a very disappointing prospect for homeowners that only five years before were able to get hundreds of thousands of dollars more for their home. The housing bubble burst finally in the years just after the bank bailouts, causing a total market adjustment, causing all home prices to fall.
Homes can still sell as long as owners get a good grip on reality and decide that they just are not going to get as much as they once thought they would. Home owners also need to invest in selling the home by making repairs and getting the home looking neutral and uncluttered. This is a good time to have garage sales and giving away or storing away belongings that fill rooms and garages as if they have no use. Since there is so much for buyers to choose from, if there is anything about a home that looks out of place, messy, in disrepair or out of date, a home owner that wishes to sell in this kind of buyer’s market will need to seriously consider investing in repairs, new neutral paint and carpeting, cleaning up the home and making sure the repairs are done. If buyers see anything at all that detracts from a homes curb appeal, they will just move on to the next home in their price range.