9 Reasons Your Home is Not Selling in a Hot Market
When your home is not getting offers in a seller’s market, it is no surprise that you are not in your happy place. It’s not how you expected things to go. You thought it would sell quickly. Now you are asking your realtor why other properties are selling while your listing is growing moss.
Taking more time to sell a home happens all too often. As an agent who has been in the business for 16 years, I have been in this scenario. Here are what I’ve found to be the seven most common reasons a home isn’t selling.
The Price is Too High
The most common reason a home is not moving even in a market favorable to sellers is incorrect pricing. At the listing time, your realtor should do a market analysis of properties comparable to yours that recently sold. The price comparison is the best method to determine the asking price.
There are times sellers don’t agree and insist their home is worth more. There are often factors that the seller didn’t take into consideration that affect the value. To neutralize the adverse effect of imperfections...
Can You Recognize a Super Real Estate Agent When You Meet One? Take This Quiz!
You have finally made the big decision to buy a home, and you’re ready to dive headlong into the real estate market! Congratulations! Given today’s market and the great opportunities that abound in the Twin Cities Metro for home ownership, I applaud your decision. But, (and yes there is always a “but,”) before you take the plunge, just like every great athlete needs a coach, or every talented artist needs an agent, you need a Realtor© by your side, advocating for you.
“Why can’t I just advocate for myself?” you say. Great question and I am so glad you asked. An honest and ethical real estate agent will steer you in the right direction, so you don’t waste time spinning your wheels. He will offer expert advice when called for, even if it might not be what you want to hear, and will put your best interest at the forefront of any transaction. Not only will he protect your interests, but also limit your liabilities and even save you money.
“Wow,” you say, “having an agent will give me an edge! I want one, but, with all...
Success-driven Home Selling
Most people have two primary goals when they sell their home. These are to sell quickly at the best price possible. Both are attainable and if your location is TheTwin Cities metro and your home value is under $500,000, the market favors you in a big way.
However, please do not think that you will achieve these goals if you ignore the basic rules of how to prepare to sell your home. If you want multiple offers and you want them in the first few days of listing you need to accept the fact that preparation is necessary. If your home’s list price is in the higher tiers, it becomes even more critical.
Convinced? Fabulous! Here are my ten commandments of home selling. Follow these, and you will present your home at its finest.
Clutter is not aesthetically appealing. It makes your home look messy and lacking in storage space. The goal is to go through every closet, cabinet, drawer and storage space from basement to attic. Don’t forget the garage and any outbuildings as well. Everything you decide you do not need should be for sale, consignment, donation or disposal.
For some, this step is no big deal, and for others,...
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Tips to Control Stress When Selling Your Home
When you sell a home, the experience has the inherent potential to be stressful. Not only is the rhythm of your daily life at the mercy of showings, but your home has to look tip-top for potential buyers. Your privacy is held hostage to strangers opening closets and drawers as they snoop into your nooks and crannies. Yikes! That is enough to get the calmest nerves twitching.
There are many moving parts to the sale of a house. There are many individuals involved in that sale. Any of these or a combination of several can become the stress source for the homeowner. These are factors the seller has no control over, zip, zero, none! However, there are many aspects of the home-selling process where the property owner can have power over the outcome. Making better decisions at the beginning of the process increases the likelihood of having a superior selling experience.
Since I have sat in the seller seat myself on a few occasions, I have gathered some morsels of wisdom on the subject. Since I love to share, as one seller to another, here are my best tips for a successful home sale.
Hire A Great Real Estate Agent
There are a few different ways people go about...
Sell Your Home When The Time Is Right For You
It’s no surprise that many people advocate that the best time to sell a home is in the Spring. Part of the reason this theory has evolved is that families want to be established in their new homes by the beginning of the school year in September. While this does make sense for families with children, when it comes to when to put your home on the market there are no one-size fits all scenarios.
Even though Spring may be considered prime time for home sales by many in the industry, there is no perfect time for everyone. Every situation is different, and when you are personally ready to sell, that becomes the best season for you. However, there is one piece of home-selling wisdom that is always true no matter what time of year you sell.
Can you guess that one sliver of home-selling wisdom? It’s the preparation of your home to look its best in winter, spring, summer or fall. Making an outstanding first impression on buyers will determine how quickly you sell and how high a price you obtain. A home that is move-in ready will face a cleaner offer with fewer if any contingencies. Even in this strong seller’s market, we find ourselves in right now, the condition and appearance of your home do matter.
It makes the most sense to take the time to get your home in tip-top shape for the fussiest of fussy buyers. If you think your house...
That All Important First Impression
It’s well established that a first introduction is vitally important. That initial handshake can either lead to a meeting of the minds, or to no deal. “I hope I make a bad first impression,” said no one ever! In real estate, we see this play out again and again.
When you are selling, the first personal impression when a buyer tours your home is like the handshake. If they don’t like what they see pulling up to the curb, walking into the lobby, or opening the front door, the cash register is going to ring up “no sale”.
Although a good first impression of your home may not always end up in making a deal, it is always the first step into getting to that important offer to purchase. Here are 10 ways to make a great first impression on prospective buyers.
1. Get Buyers To See Your Home
Today, most real estate transactions are born on the internet. The first interaction a prospective buyer has with your house is online. If there is no connection with them in those first photos, it’s extremely unlikely to go to the next step with a private showing. Make sure you have an agent that takes quality photos of your property, preferably professional ones.
The Twin Cities Real Estate Market is Filled With Stories
Real estate is the story about homes and about the people and the families that live and love in them. It is also about the real estate professional helping a family sell or buy a home and whether it is their first home or their last, the agent has a golden opportunity to become a hero in their narrative. Here at the Minnesota Property Group, we have a few heroes! Talking about them, even bragging a little bit, is the favorite part of my job as the content creator.
Five uniquely talented professionals came together as a team with one common goal; providing the best service by treating each client like a member of your family. (This paid off in July 2016 with being recognized as "America's Best Real Estate Agents" by Real Trends, a designation given to less than 1% of agents and teams nationally.) We already heard from Joe Houghton, the RE/MAX Results agent that leads this team. He is the one prominent reason this group is the best. It is his vision and plan that moves the team forward and inspires them to grow and reach their full potential not only as individual agents but as part of the team. The four other reasons...
The Minnesota Property Group Team
Real estate is about stories. Each seller, each buyer, every home, and every agent has a tale to tell. Real estate is certainly a challenging and competitive business. It’s also exciting and rewarding. The one thing most agents agree on is that it takes, dedication, grit and hard work to break into the business and to become successful. Being part of a strong, supportive team can often make the difference between a story with a happy ending and the other kind.
One of the key elements to any successful group, is a strong, supportive and talented leader, like veteran RE/MAX Results agent, Joe Houghton. As leader of the Minnesota Property Group, he brought together five like-minded and talented agents and one content and marketing professional to form his team. For me personally, as Marketing Director for the group, Joe has been an inspiration which led me to challenge myself and go where I had never gone before professionally. We connected 3 years ago when I had been booted from corporate America and he wanted someone to create content for his blog and website.
That tentative story that began on a cold January afternoon in 2014 has become a successful narrative that is still unfolding. I have never regretted that decision even once. Joe has a talent for connecting with people to help them live up to their potential. If there is a harder worker than Joe I haven’t met him yet. If there is a leader more willing than Joe to try something new or...
7 Great Tips for Fall Home Sellers
The Twin Cities real estate market has been strong throughout the spring and summer, and according to housing market analysts, we are experiencing one of the best housing markets of the last 15 years. So if you planned to sell your home this year but missed the spring and summer home-selling season, don’t despair or feel you need to wait until next spring to sell your home. Autumn happens to be the second best season for home sales.
Going into the cooler months always brings a seasonal adjustment in inventory levels. According to the weekly report from the Minneapolis Association of Realtors, for the week ending September 19th, new listings decreased 0.4% to 1,613 and inventory 13.8% to 16,606. So fewer houses on the market, increase your chances of finding a buyer. Speaking of buyers…
While families with children tend to make their move in spring and be situated in their new homes for the start of the school year, job changes and relocations go on all year so there will be families out there looking for homes. Additionally, many millennials and empty nesters tend to wait until fall with hopes of being in their new home before the winter holidays arrive. Easier mortgage approvals coupled with interest rates remaining low, sweeten the deal. Buyers are inspired.
To get you ready and help with that selling decision, here are 7 tips that will take turn your "home for sale" to "home sold" when you list your property this autumn.
You have decided now is the time to make a move and sell your home. As a seller, this is your time! According to Forbes, 60% of all home sales in 2014 will in the months of May-August. Additionally, there is a limited supply of inventory and buyers are out there who are ready and prepared to become homeowners themselves.
Let's Put Our Best Face On
Even though the market is tipping in your favor, in order to sell quickly and get the best price for your home you need to show it off at its absolute best. You know it’s a great house but remember that potential buyers will be looking with a critical eye and comparing your property to others for sale on the market.
To get your house ready to sell, let's look at what I call the two level approach, the first level being practical, which is the general condition of your property, and the second level the emotional which is about the aesthetics like curb appeal and decor, the livability factor.
Let’s Talk Practical
On this level we need to be concerned about structure and mechanicals, the things a home inspection will evaluate such as: