Reason Some Homes Don't Sell #2:  Not What Buyers Were Expecting in the Price Range

This is a hard concept to explain to sellers, so I will just give some examples with a "make believe home" and "make believe prices".

1.  Home is nice, clean but doesn't have a large amount of "architectural details".  The market analysis shows a range of $450,000 to $510,000, but the agent doesn't make adjustment for the "architectural details" in the homes that have sold.  Seller thinks they are pricing right at $504,900.  When buyers see the home, they end up buying those that are in the same price range, but look fancier.

2.  The home is a nice "starter" home, but has an inground pool.  The sellers price their home at what they feel is a great price and feel that they are giving away the pool at their pricing.  Unfortunately, the "starter" home buyers all have young children and don't want the home because they feel that pool is not safe for their young children.  But the families with older children who would love the pool are looking in a higher "build up" price range.

3.  A builder believes that he is building condos for "baby boomers" and feels that the homes are priced for people who are getting out of larger homes and what a nice looking smaller homes.  Unfortunately, the builder makes a mistake in the design of the homes.  They are all townhouses!  The builder can't understand why they aren't selling.  

I hope these give you the idea of what I am talking about.  There were written as extreme examples, so you can understand it.  Think about what features your home has and then think about what buyers who could afford it might be looking for.

Go to Reason #3

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Linda Grissette, GRI, e-PRO Certified
Keller Williams Realty West
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