As I touched on in a recent blog post, the housing market is influx. Thanks to a still-high inventory and soaring mortgage rates, homes are sitting for sale longer than they did last summer. Still, it’s not a losing battle if you’re looking to sell!
Here are five ideas to try when your house isn’t selling.
1. Rethink your staging.
Little changes make a big difference. Consider moving your furniture around to make smaller rooms look more spacious. In larger rooms, try to create various focal points to make it all feel like usable space. Another way to change the vibe of your house is with paint colors. With the right combinations, you can make the living room look larger or the primary bedroom seem extra cozy.
Additionally, if you haven’t already, pack up family photos, extra throw pillows, and additional clutter. Be sure to fix any noticeable problems, like a broken cabinet door or scuffed up wall. To really help your home shine, hire professional cleaners.
2. Improve your curb appeal.
First impressions matter! When a potential buyer pulls up your driveway, the first thing they see is your yard and front door. To make your home look more inviting, add new mulch, plant brightly-colored flowers, and, if possible, create a seating area on your front porch.
3. Update your listing photos and description.
Chances are, people will read your real estate listing before setting up a showing. Consider new photos to showcase your house in better light (literally — taking photos on a sunny day always helps!) and highlight any recent improvements.
Even better, rework your property description. It’s important to help buyers visualize themselves in your house. For instance, instead of saying something like “the kitchen is great for entertaining,” try “Imagine hosting your loved ones for Thanksgiving dinner in a kitchen with a generous island and bar seating, double oven, and six-burner gas stove.”
4. Refresh your marketing efforts.
By focusing on print ads and yard signs, you may not be reaching the right buyers. Instead, talk to your realtor about posting your house on social media and third-party sites. Nearly 40 percent of buyers believe that photos, interactive maps, and virtual tours are helpful. With the use of these digital tools, over half of today’s buyers first spot their future home online.
5. Rethink the price.
If your house is in good condition but isn’t getting any attention, it may be time to lower the price. Ask your realtor to take a look at the competitive market analysis and then re-price your home based on the most recent sales in your area. Remember: Price reductions are fairly common and often necessary to attract new buyers. In fact, 64 percent of homes sell after just one drop.
With that said, it’s important to be strategic about your new price. You don’t want to be the house that drops by a few thousand dollars, week after week. Instead, consider lowering the price by one to three percent in an effort to enter a new pricing bracket. For instance, if your home is listed at $359,000, a three percent drop would put you below $350,000, which will bring in a new group of potential buyers.
Let The Urban Dog Group help you with your real estate needs. Contact Christine Elias at firstname.lastname@example.org.