Why Are You Letting Your House Sit On The Market?

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

Market Bikes

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?

Market Similarity

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.

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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.

Patrick O’Connor – CHMS, GRI, Realtor®

Ebby Halliday, REALTORS®

Plano, TX

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Frustrations When Selling Your Home – Part 3

Who’s ready for more?

Don’t start reading here. If you missed the previous posts, they are titled Frustrations When Selling Your Home – Part 1 and Frustrations When Selling Your Home – Part 2. Read them and then come back for even more frustration.

But I like it!

When I was living in my first house, I was raising kids and wanted them to “own” their rooms. One of my daughters decided she wanted to paint her room “Tiggeriffic Orange.” It has got to be the brightest orange available. When the light was on in her room at night, from the outside, it looked like the room was engulfed in flames. Other kids’ rooms in the house were painted with blue. However, they also wanted feathered paint of a different color throughout. Finally, the playroom had murals that covered the entire room complete with flowers, clouds on the ceiling and a bright yellow sun in one of the corners.

Home Paint Colors

It would take someone really special to buy the house that way. Before selling it, I painted the whole house in earthy, soothing tones. It’s what most people expect. Besides, it gives the house a neutral look so that people coming in can start to envision their idea of what the house would look like with their added touches.

Why does my REALTOR® want me to change the price?

It’s really frustrating when you have an idea of what your house is worth and someone else comes along and tells you the price is not realistic if you want to sell your house. REALTORS® have experience figuring out the best price for your property so that it doesn’t sit on the market for months and months. Sites like Trulia and Zillow don’t help a whole lot because their pricing can be radically different than what the market says it is worth.

Home Paint Colors

There are a lot of factors that go into the price of your home and one of the biggest one’s is what other houses, comparable to yours, have sold for in the last three months.

Sure, you can find a REALTOR® who might promise that they can sell your house for more than someone else. I would challenge you to look at other houses they have sold and see how long they were on the market. Also ask them about the houses that didn’t sell and why.

Some final thoughts

What Is Your Home Worth Button

Sometimes, there are things associated with your home that you cannot do anything about. This can be really frustrating like when they installed high power lines right behind your house two years after you bought it. Maybe it is because that empty field behind your house is suddenly a shopping mall or a natural gas fracking system. Although there is nothing you can do about that, if you take some steps to make reasonable upgrades and show the house in its best light, the right buyer will come.

Conclusion

Thanks for joining me on this frustrating journey. In my opinion, if you stick with these ideas and the time your house is on the market could be shortened. If you have any questions, contact me or visit my business page.