That House Is STILL For Sale?
Yesterday I went for my morning walk, on a route not travelled for two years in my neighborhood of Crystal Beach in Destin Florida. As I approached the end of a side street, low and behold- that HOUSE was still for sale!! No way! I did a double take, saw there was yet another real estate sign in the yard. What was this- the fourth Realtor? When I went home, out of curiosity, I checked the listing history of the house. It has been for sale since 2005. That’s right- over four years.
What is going on here? Why hasn’t this house sold?
Here is a list of possible reasons:
1. The street is busy– it is overpriced for the location.
2. The home is jammed on a little lot– it is overpriced for the lot size.
3. The home is overbuilt for the neighborhood– it is overpriced compared to the others.
4. The price was reduced too slowly– behind the rest of the market. Hmmm… still overpriced.
5. The sellers and all 4 agents think it is worth too much– it is overpriced.
6. No one is buying– yes they are, but they are buying at the right price!
The bottom line is always the price. You can hire the most brilliant real estate agent in the world, you can have the best-kept home in the neighborhood, you can have the most sought after location in town, you can have more advertising than every other home for sale. But no matter what you do for marketing, no matter what agent you hire, no matter what you think your home is worth- it is not going to sell if it’s not priced right.
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.
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