You’re trying to sell a Willamette Valley house that just won’t sell?
The media has been talking about the hot real estate market for quite awhile now. There has been a lot of concern that the pandemic would hurt the market, and we are starting to see houses staying on the market longer. Are you worried you might have missed your best chance to sell?
These tips could be just what you need to help you sell your Salem home.
Why won’t my house sell in Salem? – 6 Tips To Cure It
1) Get good help.
Real estate agents are not all the same. A few of them are extremely talented and will earn every penny of their commission. But many of them don’t know how to do much beyond listing your house on the Multiple Listing Service (MLS). If your house has been on the market and isn’t attracting any buyers, have a serious talk with your agent about exactly what they’re doing to sell your house, and what needs to change to get it sold. If you’re not happy with the work your agent is doing, find a new one.
2) Don’t make too many improvements.
Too often we see over-improved properties – those where the owners have gone too far. Even with the best of intentions, exceptional craftsmanship and true artistic talent, it’s incredibly challenging to exceed what the market is paying. The price a buyer is willing to pay is based almost entirely on the number of bedrooms and bathrooms, and the square footage. Expensive upgrades usually cost more than they add in value. Plus, most buyers want to add their own custom touches. If you’ve priced your house too high because of the upgrades, you may have to bite the bullet and lower your asking price.
3) Do make necessary improvements.
Unfixed stuff scares buyers. Even something that seems like it shouldn’t be important can be a big deal to a buyer. Let’s say one of your kitchen cabinets is missing the handle. The buyer might want to replace all the handles anyway, but the fact that you haven’t fixed that minor thing can make them question what other issues have been neglected. Show buyers that you’ve been a responsible property owner by making sure all the little details are maintained properly.
Another important reason to take care of necessary repairs is because banks won’t loan on a property unless it’s in good condition. Just because you and a buyer have agreed on a price doesn’t mean the deal will close if their bank rejects the home inspection. If their bank does demand repairs be made, you and the buyer will be back to negotiating who will pay for the repairs, and there will be that much more time added to the sales process. A situation like this provides so many more chances for your sale to fall to through, and put you back at square one.
Consider getting your house inspected by a professional home inspector. This way you can get ahead of the game on making repairs, and once the repairs are made you can show off a healthy home report to potential buyers. This goes a long way towards establishing confidence that they’re making a good purchase.
4) Style and design matters.
Curb appeal is as important as the inside – so don’t neglect one part of the property to improve the other. Give buyers a cohesive impression of great style. Paint colors, the quality of landscaping, and most of all – the cleanliness – should work together to make buyers feel at home as soon as they see your house . Consider hiring a professional designer to help tastefully stage the property.
5) Pricing matters a lot.
If you’re getting a lot of showings but not a lot of offers, you might not be too far off in price. If your best efforts to advertise your property aren’t making the phone ring, you’re probably overpriced. Your agent should have run a Comparative Market Analysis (CMA) when your house was first listed. Pay attention to the information provided and price your house accordingly.
6) Every property will sell – sometime.
But the longer you’re holding the property, the more money you’re paying in monthly principal and interest payments, insurance, taxes, and utilities. Different types of property require different strategies to sell. There’s no magic formula – but there’s no substitute for experience.
If you need to sell a house near Salem, Lebanon, or anywhere in the Willamette Valley, we can help you. We buy houses throughout Oregon.
We buy properties like yours from people who need to sell fast.