It’s a seller’s market in Arizona, so why is your home still sitting on the market? If your home isn’t moving, you may want to look at these four reasons and their remedies. While there are a myriad of reasons a home sits longer than the competition, it typically boils down to these culprits -- price, a need for home improvements, a vacant listing, or curb appeal and landscaping.
If you’ve priced high thinking you command the market, you might have made a big mistake. In a seller’s market you can certainly price a little higher right out of the shoot, but if you haven’t had many showings or received any offers it’s time to reevaluate your pricing strategy. Ask your real estate agent to send you the recent data on the solds in your neighborhood and be prepared to adjust your price accordingly. Having a list price above the current market value may be wishful thinking and may cause excessive days on market (DOM) that raises a red flag for prospective buyers. Pricing your home accordingly from the start is a great way to attract interested buyers and get your home sold quickly.
A home that needs updating will sit longer than a home that is well maintained and remodeled to reflect current design trends. There is often a big return on minor bathroom remodels and new paint and carpet. A kitchen makeover doesn’t have to be expensive and cabinetry with new stain or facing may be the thing that sets your home apart from others.
A vacant home void of furniture statistically sits on the market longer than a staged home. It is extremely hard for some buyers to visualize a house as a home without furniture. The numbers reflect a staged home will have fewer DOM. Consider leaving some furniture behind before you move out or professional staging before you list your home.
Curb appeal is important and many buyers have been known to pass up a home that isn’t eye-catching from the street. These are often easy fixes that won’t cost you a fortune. They include a new exterior paint job, complimentary colored trim, updating the exterior lighting and simple things like new house numbers and an attractive welcome mat. But don’t forget the landscaping; a buyer that is torn between two similar homes may opt for a home with mature landscaping. Simple shrubbery, a little new gravel or sod may be the face-lift that makes the house look new again.
Do you have questions or want an objective opinion about what your house may need before putting it on the market? The Matheson Team is happy to sit down with you and make suggestions for what might be required to get your home ready to sell.