It seems, at least for now, that the days when you would slap a sign in your yard and sell your house in 24 hours are ending. Things have changed in the market in North Texas. People are tired of overspending on a home when there are others nearby that will work just as well. Sometimes, even new construction homes will sit on the market because people don’t want to spend that much.
The Number One Reason Your House Doesn’t Sell
I see it often. A perfectly good house in a great neighborhood and it’s been on the market for half a year or more. Unfortunately, sometimes seller’s are just not realistic about the pricing of their homes. Even if you have the best Realtor in North Texas, you still won’t sell the home if the price is not in line with what is going on in your area.
It doesn’t matter if you put in a $100,000 pool with lights and an outdoor kitchen. If no one else in your neighborhood has a pool like that or an outdoor kitchen, it’s likely you won’t get near what you put into that pool or kitchen. People just won’t pay for it.
A decent Realtor will tell you where the house should be priced. Still there are those who insist that their house is better than everyone else’s home in the area.
An Honest Question
Would you honestly pay more for something when there are other choices that will do the same thing for you? If you don’t race bicycles, would you pay $8000 for a bike when a $200 bike will do what you want it to do? I could ask the same thing about so many items we use every day.
When my grandson was born, my daughter insisted on buying Tommy Hilfiger clothes for him. When I asked her why, she said it was because she never got nice clothes growing up and she was not going to have her child be embarrassed by the clothes he wore. Ouch! When I tried to explain that he would be in those clothes for two months and they would never get worn out, it fell on deaf ears. There was no convincing her about the practical aspects of buying clothes for babies.
What About A House?
I recently had a conversation with another agent in my office. He had a house listed on the market. It had been going slow and he was considering having a conversation with the owner about possibly lowering the price.
Just when he was about to do that, another house in the same neighborhood came on the market with an inflated price. Before he knew it, he received multiple offers on his listed house. Why? Because the houses were almost the same. People could look at both of them and soon realized that the house he was promoting was just as good as the other house.
Why would you spend extra money on a house when there is another one down the street for less?
Unless there are specific features or needs that one house has over the other, it just doesn’t make a lot of sense.
If you need help with the purchase or sale of a home, reach out to me for more information about how I can help you get where you want to be.
I’m never too busy for your referrals.
Ebby Halliday, REALTORS®