5 Reasons Some Homes Don't Sell

Spring is the traditional peak sales season for houses and condos. Summer is also usually very good until the traditional August slump, especially for families who want to relocate before school starts. More prospective home buyers are in the market at this time of the year than during any other season.

But 2006 is proving to be a bit different. Although 2005 was a record home sales volume year, the number of residence sales has slowed this year. There could be several reasons, such as adverse weather in many areas and slowly rising mortgage interest rates. In a few communities home sales prices have taken a slight dip so prospective buyers might be waiting to see if desperate home sellers reduce their asking prices. Another reason for waiting to buy a house or condo is the inventory of available listings is slowly rising, thus offering more homes available for sale. In summary, for most communities it is definitely a "buyer's market." That means there are more homes listed for sale than there are qualified home buyers. The result can be bargain prices for savvy home buyers.

5 Reasons Some Homes Don't Sell
1. The asking price is too high
By far, this is the top reason a home doesn't sell. Although you might be just testing the market, prospective home buyers are very smart and they know an overpriced listing when they see it. Worse, their buyer's agents won't even bother showing homes with asking prices above recent sales prices of comparable nearby homes.

2. The Home is difficult to show
Seller's who make a home difficult to show will "turn off" agents. The home should be in the Multiple Listing Service, on a lock-box system, and easy to show at a moments notice.

3. The home is in poor condition
Most home buyers want to purchase a residence in near "model home" condition where all they have to do is turn the key in the front door and move in. However, if the residence requires considerable work, that turns off all but the most die-hard bargain hunting home buyers. Your home should be move-in ready.

4. Offering the home "as is"
Closely related to homes that don't show well are those listed for sale in "as is" condition. The term "as is" means the seller offers the residence in its current condition and will not pay for any repairs. However, the seller must still disclose in writing to buyers all known defects, such as a leaky roof or a bad foundation. "As is" raises a red flag.

Whenever possible, home sellers should not offer their homes for sale "as is" because it is like waving a red flag in the buyer's face. A better alternative is for the seller to obtain a professional inspection report and have the recommended repairs made before listing the home for sale.

5. Ineffective marketing
Most agents put the listings in the Multiple Listing Service, hang up a for sale sign, and run a few ads. Successful agents do a LOT more. Your agent should have a dominant internet presence and should actively, agressively promote your listing to buyers.

(Check out Premier Team's internet presence by using any major search engine and searching on "Bradenton Real Estate". You'll find our site in the top 5 results. Pay little attention to "sponsored sites" that use pay-per-click to get list on top. Sites that show in the top 5 of search results are rated the highest and will provide the most exposure for your listing.)

Selling houses and condos in the current buyer's market requires hard work by successful listing agents. If your home has been listed for sale with a successful realty agent over 45 days and without any purchase offers, it's time to discuss the five key reasons some homes don't sell with the listing agent and make adjustments to get your home sold.