Your house has been on the market for weeks. Despite many showings there have been no offers, so you are considering a price reduction. You want to get as much as you can from your home, but more importantly, you just want it sold.
First of all, realize that it is taking an average of between two to three months or more to sell a home in Lake County. It may seem like forever but the market is what it is. If you feel you must sell it sooner there are several things you can do.
This may be the time to have a frank discussion with your Realtor. Pricing may be important, but there are other factors that need to be considered. Ask them what reactions other agents have given them when they have shown your home. This feedback is valuable on what you may have to do to present your home in a better light.
Are you making your house easy for agents to show? Is it available upon short notice? Does your home look its best? Do you need to consider neutralizing any strong decorating features that may not have a wide appeal? Have you completed the necessary maintenance and cleaning so that your property looks as appealing as possible? Have you finished those projects that you needed to complete to justify the price?
Review with your Realtor the current market conditions and the prices of other homes in your neighborhood before determining that a price reduction is in order. See if your home is in line with the rest of the market. Although you may feel that your price is competitive, the marketplace may be telling you that buyers just won”t pay what you are asking. If all indicators point to a price reduction, it is better to do it sooner than later.
A successful sale depends on a successful partnership between you and your Realtor. Your Realtor must market your property aggressively, and you must do your part to ensure that your home is as appealing as it can possibly be.
There are a few basic rules for making sure a house is able to sell quickly. First declutter. An uncluttered home looks more spacious and appealing. In most cases, less is more. Second clean, clean and clean more. A spotless home will bring about the feeling that it is fresh and well taken care of. The exterior is just as important as the interior. Street appeal is the first impression your home will give and you only have one chance at a first impression. The third rule is to price it right as discussed above. Follow this basic formula and your house will sell.
Ray Perry is the 2013 Realtor of the Year for Lake County and works for CPS Country Air Properties located in the Riviera Shopping Center. He can be reached at 277-8000.
