He boiled it down to two things that affect the sale of a house (and pretty much everything else). Price and terms. There are the details, of course... size, condition, but price and terms rule.
Hopefully, you've sold by now...
Emerald Estates Realty, Inc.
Palos Heights, IL 60463
Homes are selling very quickly right now. So should yours. Without knowing more about your situation it is safe to assume that it is either pricing, condition of your home, or the marketing that is/is not being done.
Century 21 Doug Anderson
There are many reasons why a home doesn't sell and we are truly in a unique market right now. Price is the number one reason why a property sits on the market for months and months..but it's not the only reason. Often we have lived in a home for many years and we don't see the things that a new buyer might see, when they enter.It would be helpful, if you could get someone to evaluate your home, and make suggestions on how to improve it for sale. Landscaping, paint and de-cluttering can do wonders to improve the presentation of the property to buyers. If you are able to watch some of the Real Estate programs such as, "Sell This House" or others you will see what other home owners have done to make their homes more attractive to buyers. You might be able to find books on the subject also.
Best of Luck to you!
If you can't sell without a loss, it's probably best to just walk away and free yourself from mortgage slavery. It depends on whether your loan was "recourse" or "non-recourse". In the latter case, the deal is simply that you can stop paying the loan and give back the house at any time. It's perfectly legal and moral according to the terms of the mortgage. Now that the government has temporarily stopped taxing forgiven debt, you can do it without owing anything! But talk to a lawer and accountant first.
My grandmother always used to complain about the cost of milk. "Why, when I was a girl, a gallon of milk cost a dime! Just look at how much people are overcharging for milk now." I asked her how much people got paid back then. "Oh, about $15 a week", came the reply. Hmmm, sounds very much like the reasoning people use now when they talk about how much their father's house appreciated "in the long run" without considering that inflation and salaries rose a proportional amount.
In any given market the two factors that determine a sale are the accurate pricing and fully exposing the property to the entire market place.
Price is obvious and you know whether yours is on point or if you have typically added fluff to the price. But the exposure to the marketplace and how it is achieved has changed dramatically with the Internet and you need to check into what is being done for your property.
All the best,
Are you working with a real estate profesional?
If so, it sounds like the perfect time to meet with him/her to gather some important information:
What has been being done to sell your home?
Ask for advertising samples that include your home....
What do I need to do to sell the home?
Ask for the sales information on recently sold homes in your location.
Request information on all of the homes currently on the market in your area.
Ask for feedback from those people who have seen your home.
Request to see where your home is posted on the internet.
Finally, ask him/her the question you have presented here, "Why hasn't my home sold?"
These are difficult times for everyone.........but you need to know that your agent hasn't given up on selling your home.
The "Eckler Team"
It would be difficult to fully answer your question without seeing it first hand. This market is tricky, especially here in the A.V. I would ask myself if my Agent is truly a) doing everything they said they would do when you listed it and b) really looking at comps and the pricing, etc.
The other Agents that answered are on the right track too. To take it a step further, you could ask a friend to come into your home and pretend they are looking to buy. Make sure they are not afraid to tell you the truth as they see it. They may come up with something that you have overlooked or have grown accustomed to, such as pet odors, etc. At this point, you need an honest assessment, since you are losing money carrying the property by the day!
Maybe I should ask you if you are selling it For Sale By Owner?
If you would like me to take a look without cost or obligation, feel free to give me a call.