The interest rates are as low as 4% and fixed for 30 years and has generated a lot of buyers in today market almost making most of the Northern Virginia area a “normal” market. This has lead to a lot of seller’s getting lots of showings but no offers. Is it possible to have 30 showings and no offers?……YES!
This is something that has been really hard for some sellers because they tend to get discouraged about their home not selling. If you’re not a seller that has an over-priced home, chances are you’ve had lots of showings but no solid offers! So you’re probably wondering “Why haven’t I gotten any offers yet?” This could be for various reasons, here are two of the most common reasons that I’ve heard from some of my buyers lately:
Reason #1: “The house needs too much work OR everything is outdated!”
In today’s market there are a lot of “fully renovated” homes. With the price drops in the last few years, investors were able to buy cheap houses and renovate them completely both inside and out. So if you’re a seller with outdated kitchen, bathroom or flooring, you may not get an offer as quickly as the renovated home. Just remember that buyers are willing to pay $10,000-$20,000 more for a house that require little to no work. So if you have an outdated home, here are some simple fixes:
1. If you have money, update some of the key components like appliances, floors and carpet, bathroom, etc.
2. If you don’t have money but will get some if the house sells, advertise a “repair credit” to get a DIY buyer into the house.
Reason #2: “The house doesn’t meet ALL their needs!”
Whenever I go show homes to potential buyers, I tell them to find a house that will meet 80% of their needs, the remaining 20% is something they will need to do over time to make the house truly theirs! This is a problem that is hard to fix since buyers will come up with reasons like: the driveway/backyard has a steep sloop or the location is too far from work, school, day care, etc. Your only option with buyers like these is to reduce the price so they won’t focus so much on things that can’t be changed about the house.
The bottom line is that if you really want to sell your home, you have to make adjustments to your home to make it the best one of the block. So make sure to listen to the feedback provided by the buyers. It will surely help you sell your house faster! If you’re ready to sell your home with some great photographs and excellent marketing words, contact me today!