Your job is to have the home in its best condition possible. If you cannot do this then you must lower your price to reflect poor condition or location.
If your home is drop dead gorgeous, staged well, nice curb appeal, good location - it could be 2 things:
large inventory of comparable homes and/or price is just too high.
This is a very good question that requires more than an IT'S A GOOD MARKET or IT'S A BAD MARKET answer. The number of ACTUAL TRANSACTIONS has decreased about 20% in 2008. However, the value of homes has done a good job of holding their value.
In any real estate transaction, there are three keys to a successful sale.
1. Do you have the home priced correctly?
2. Is the home in MARKET CONDITION......i.e. Does it show well to buyers?
3. Do you have the proper exposure of your home? If you home does not appear on at least 10 websites (five of which should be directly managed by your agent), you might not have the proper exposure.
Please feel free to visit my blogs and get more home selling tips.
I wish you much success in selling your home!
David A. Patterson, Broker CRS
Keller Williams Realty
4400 Saint Andrews Road
Columbia, SC 29210
Search for Homes throughout The Midlands!
"A journey begins with a designation in mind."
I totally agree with everything David said! I also believe this is something you need to discuss with your listing agent.
Just a few thoughts run through my mind - How long has the house been on the market? Are you making the home available for showings? Have you had any interest in the property? If not, you are probably overpriced. The seller is in control of whether or not they sell their home, but the buyers are actually telling you whether your home is in the correct price point by the number of showings and offers you have on the home. The buyers are mandating the selling price in this market. Though it's a hard thing to accept, if you have had at least 10 showings and no offers, the market is rejecting you.....you are still the highest bidder for your home.
My best advice to you is to discuss your concerns with your listing agent. That's the best place to start.