Why Some Homes Don't Sell

Most of the time this is correct. But, location and supply and demand have a lot to do with it too. We have a brand new home that is really a nice home in a nice subdivision in Spring Hill FL that we have been diligently trying to sell for over a year. It is priced way under its appraised value and yet it sits there. Yes this area is north of the Tampa Bay area where homes are cheaper and there are a few for sale in the neighborhood. But it's definitely not the price this time. We are stumped. Any suggestions? http://www.lipplyrealestate.com/4431copperhilldrive.php ps: Hardwood floor are going in shortly. We are keeping our fingers crossed!

Thank you for the comment. My point is that a lot of times seller's won't or don't do everything that they can to elevate their home above the rest of the competition. Whether that be with price or by not making necessary upgrades, ultimately that choice is the seller's to make. My family is from Tampa and some areas to the north into Pasco county. I am somewhat familiar with that area as I spent some time there and attended USF. I'm not sure about the market, but my understanding is that a growing supply is hurting more than any other factor. This situation is different than what we have in North Atlanta where supplies are only high for 1 million and up. When faced with a situation like yours, I would ask myself how this home stacks up against the others it is facing. If the marketing is correct, there are limited options. How can you make it more attractive than the competition? I think this is where the seller has to face certain realities. You can make upgrades like the floors you are installing, if that is a feature that will benefit a buyer. Staging can help as well. Unfortunately, for a seller in a situation like this, there are circumstances beyond his control. Supply and demand ultimately determine the market. It looks like that home is vacant. That can hurt as well. Have prices been falling in Spring Hill?

I went to USF too. Ironically, the home stacks up very well with others. The difference is in the quality of the home's upgrades. Maple cabinets with staggered lines and crown molding compared to formica boring cabinets in other homes. This home has double pane windows and no other homes has that. Also, tray ceilings, again same story. One problem is that people can still build their own homes in this subdivision. We have encouraged him to rent for a year or two and treat this as a long term investment. Probably he will if the hardwood floors do not help. Staging is another option we could suggest. Thanks. To answer your question, prices have fallen just slightly over last year but not that much.

About a year ago, I had a listing in a neighborhood that still had new homes being built. It was very difficult to sell because buyers were scooping up the new homes instead. At the end of the day , the seller actually had to sell it for a loss. It was hard to even get home showings as people preferred the new construction that much more. Even though the sellers home had more upgrades than the builder offered. That's a tough one.

I sold homes Las Vegas for years with 1.8 million people and now I’m on the Central Oregon Coast in an area of less than 25,000 residents. I’ve been exposed to very different markets and yet I think Ryan is right on with this. Of course there are many aspects to consider in pricing, and every seller is different in their willingness to make the home appealing. I think it still boils down to pricing, the house is what it is and it’s only worth what someone is willing to pay for it. Having an appraisal for a certain price is not only meaningless; it is detrimental to getting a price reduction when you as the agent, know it should be lowered. How many times have you seen a high appraisal, the seller has that number stuck in their head and is not willing to lower the price? To me if area homes are selling and this one is not. There may be something that is not as desirable about this home but is still boils down to pricing the home to what someone is willing to pay. http://www.DennisPeaseTeam.com