My Home Listing Expired, Why Didn't My House Sell?
Posted Oct 4, 2007 @ 2:29 pm, Viewed by 348 Visitors, Read 355 Times.First, I can understand your frustration.
Don't give up. The reason your home or real estate has not sold may have nothing to do with your property itself. In reality, it may be one of the more desirable homes on the market. There are many factors that go into the timely selling of New Jersey real estate – when you're educated on all those factors and completely understand what's going on around you, it's much less stressful.
Together, we may be able to identify the reason why your real estate hasn't sold and we can discuss what we're going to do about it.
Here are some facts on selling real estate in today's market
· Price: The time when your home will sell the easiest and for the most money is in the first 3 to 5 weeks it is on the market. Studies have shown that the longer a home or real estate stays on the market, the less the property seller will net from the sale.
It is very important to value price your home in comparison to other similar homes which are currently for sale. A good way to do this is to look at homes which are similar to yours that sold in the last 3 months and fully understand how long each of them took to sell, what the price reductions were, and what the condition of each was. It is highly advisable in the current market to price your home 1% to 3% below the last sold home which is a good comparison to yours, That is unless you really don’t care if your home sells. The market is so competitive that even overpricing by a few thousand it could mean that your house will not sell. Interestingly, your first offer is usually your best offer. Here are reasons for pricing your property at the market value right from the start in order to net you the most amount of money in the shortest amount of time.
An overpriced home:
- Minimizes offers.
- Lowers agent response.
- Limits qualified buyers.
- Lowers showings.
- Lowers prospects.
- Limits financing.
- Wastes advertising dollars.
- Nets less for the seller.
Take a look as some of my other posts for advice on putting your home into condition to get the best price when marketed by a Professional Realtor.
Thank you,
James Boyer
Realtor Associate
Keller Williams Real Estate
488 Springfield Avenue
Summit, NJ 07901
973-376-0033 (Office)
973-647-0253 (Direct)
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James Boyer, is a resident of Morris Township in Morris County New Jersey and Specializes in listing and selling homes in Morristown, Morris Township, Madison, Florham Park, Chatham, Summit, Short Hills, Millburn, Maplewood, & South Orange New Jersey and Morris Essex & Union County Real Estate. Read More
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