Question: I’ve had my home for sale now for almost a year. I don’t know why my home is not selling. I have a newer furnace & central air. My agent says it is too high in price. I know my house is worth what I’m asking. Any suggestions?
Answer: The real truth is "Location, condition, and price." And price trumps every other factor.
Location affects the value of a home, but it’s price that sells a home.
Oceanfront, mountainside, or penthouse, the most desirable location in the world won't sell at the wrong price.
A good location will sell at a fair price. A bad location will sell at a fair price, too. It just won't be as a high as it would be for a good location.
A home in good condition will sell for a fair price. A home in poor condition will also sell at a fair price. Again, it won't be as high as a comparable home in better condition.
But neither location or condition will sell any house. Only one thing does that - price.
So if you're a seller waiting for that "special buyer" who will appreciate your 1970’s décor and flowery wallpaper, and is willing to pay you top dollar for your home because of your real estate prowess, you're going to have a long wait.
Maybe you didn't listen to your agent when he said you are pricing your home above the market. Maybe you got mad at the first few buyers who looked at your home and didn't make offers.
When the showings stopped completely, maybe you accused your agent of not doing a good enough job.
You put the blame on everyone except where it belongs - on you. It's not about you, what you want, or how much you need for your retirement. It's about the price.
