Why has my house
in Louisville not sold?
If you are wondering why your house
in Louisville hasnâ€™t sold, there is an easy way to figure it out. In my
experience selling hundreds of Louisville
there are always a few reasons that determine how long a Louisville house is on the market.
Answer these questions to see if why your Louisville
Kentucky house hasn't sold yet:
*Promotion. Do thousands of people know your house in Louisville is for sale?
*Condition. Do buyers who have seen your House in Louisville
think that it needs work? Are there repairs or updates that buyers would want
to do if they bought this Louisville
* Pricing. Are there other Louisville Ky houses for sale in your neighborhood
that are priced less?
*Competition. Were there other Louisville Ky homes for sale that competed against
yours for the same buyer that were priced the same as yours and were more â€œmove
in readyâ€ where the buyers would not have to update paint, carpet, light
fixtures, or do any repairs?
See the next paragraph for analysis of your answers.
How does promotion, condition, pricing, and competition affect you?
Those are the factors that determine how long a Louisville
is on the market before it sells. The only one that you donâ€™t have any control
over is competition. You can make changes to the way the house in Louisville is promoted, the
condition of the house and make changes to the price to adjust to what the
market is doing. If thousands of people know that it is for sale, have seen the
photos online, and choose to see it and still donâ€™t buy it, then it has been
promoted and you need to make changes to price or condition. If the House in Louisville
is priced lower than any other house in the neighborhood and it hasnâ€™t sold,
make changes to condition or the way that it is promoted. You canâ€™t change the
If a Louisville
Kentucky house is priced wrong, it doesnâ€™t matter how many places your realtor
advertises it, people wonâ€™t come see it.
If a Louisville
is in beautiful condition, but it isnâ€™t advertised properly, it doesnâ€™t matter
how nice it looks if no one sees it. The more showings we get, the more chances
of an offer. If there is a Louisville house down the street that is
bigger, prettier, shows nicer, or cheaper, that Louisville house will sell first, and
youâ€™ll have to wait for the next buyer who is looking in this neighborhood.
Here are some things that will help your House in Louisville
look better to buyers:
â€¢ Staging a room with furniture to show buyers what to do with each room.
â€¢ Storing all unnecessary items, end tables, photos, stuff on the counter, etc.
â€¢ Painting, new door knobs, and new fixtures that are updated and bright.
If the House in Louisville
is advertised well, and priced right, you will have at least 1-2 showings per
week. The first two weeks are the most important, and the most likely to get an
offer. Make sure the house is spotlessly clean, well lit, and clutter put away.
Keep lights and music and smells on.
According to the National Association of Realtors (NAR)
statistics, the House
in Louisville Kentucky is overpriced if you have 10 showings with no offer, or two to
three weeks with no showings. Based on my experience, you should get 4-6
showings in the first two weeks, and 6-8 within the first month. During the
first 2 months, if there are 10-12 showings, and the Louisville house is in move-in
condition, and priced right, you will get an offer. That is based on my
experience of the past 400 Louisville
Iâ€™ve sold. Every 30 days, we should look at the market sales for the area, look
at the number of showings weâ€™ve had, any feedback from those showings, and then
re-evaluate the price and adjust accordingly.
Who determines the price? You and your realtor discuss the
price, but buyers ALWAYS determine value.
The value of your property is determined by what a BUYER is
willing to pay for it today.
Heidi Fore is a realtor with Keller Williams Realty Services in Kentucky and Keller Williams Realty Southern Indiana. Call 502-554-9400 with questions aboutLouisville Ky homes for sale