When your home isn’t selling

I saw a cartoon the other day. It showed a home with a “For Sale” sign in the front yard. Hanging under that was a sign rider that said “Price Reduced”. Under that another rider that said “Must Sell”. Under that another rider that said “Best Offer” and under that another rider stating “Don’t make us beg”. In these trying real estate times, the cartoon gave me pause. I’m sure that some of my sellers are beginning to feel like they have to beg to find a buyer. So, what’s a seller to do?

First, I’d recommend anyone who has their home on the market to step back and ask, “Do I really need to sell my home right now?” That’s “need” not “want”. Are you being transferred to another state? Is your interest rate about to escalate so you are no longer able to make the payments? Or has something else happened so that you can no longer make the payments?

If the answer is “Yes, I must sell”, consider these tips to help your home move:

1) Clean up, clear out and pare down. Homes are selling in the Boise area but to be competitive, your home must really shine. Start on the outside by cleaning up your yard. Nothing like great curb appeal to bring those potential buyers inside. Then, paint those dingy walls, replace the carpet or vinyl, refinish those wood floors, de-clutter and clear out. Need help with this? Professional stagers are available to help.

2) Price your home competitively. Your Realtor can complete a comparative market analysis (CMA) on your home to determine value. But looking only at “Sold” properties, isn’t sufficient. You need to price your home competitively with the other “Active” listings on the market. So after you’ve established the CMA value, see what else is available in your area for that price. That should give you some idea as to where the home needs to be priced to be competitive. Don’t price where everyone else is priced. Price it significantly lower to bring in the buyers.

In this market, it’s difficult to wait out the process. But if you’ve priced your home competitively and made it as appealing as possible, you’ve done your part in preparing the home for sale.