When you list a home for sale, chances are you have a plan for the future. You’re ready to move on to a new property, and thus need to sell your house quickly in the current market. Yet sometimes, homes just don’t sell. If you’ve had a house on the market for too long, here’s what you need to know.
Signs Your House Has Been on the Market for Too Long
Every home seller wants their home to sell quickly, but how long is too long? Is having a house on market for six months too long? The answer depends.
To determine if your house is on market for too long, first look at the local market. What is the average length of time that houses sell? If yours is close to the average, then it may be that you have a slower market.
A second factor that determines if your home has been on the market for too long is whether or not you are already paying for your next house. Paying two mortgages puts more urgency on the sales process, and you will need to sell more quickly for the sake of your budget.
Finally, consider whether the “time on market” for your home is scaring away buyers. If the house is on the market for too long in comparison to other homes, buyers may wonder what is wrong with the house to make it not sell.
Why Can’t I Sell My House After Six Months?
If you have had a house on market for six months or longer in most markets, then it’s time to take a closer look at the home and why it may not be selling. Questions to ask yourself include:
- Is the price too high? Competitive pricing is critical to selling a house quickly in any market.
- Are the inspection results too daunting? If inspection reports have found serious issues with your home, consider fixing them.
- Is it easy to schedule a showing? If prospective buyers can’t get in to see the property conveniently at times that work for them, it will be harder to sell.
- Does the home need an update? If the home is outdated or misses a feature that today’s buyers expect, it may not sell quickly.
- Is it uninsurable? Outdated wiring or plumbing, building code violations, or a home that is run down over time may make a house uninsurable.
- Can buyers get a loan? If you’ve had offers, only to find that lenders won’t lend on the property, find out the reason and make the necessary adjustments.
How to Sell Your House Quickly in the Current Market
So, what can you do if your house isn’t selling? If you’re asking, “why can’t I sell my house after 6 months,” then it’s time to take a look at your options.
First, consider a price reduction. If your home is priced on the high end for your market, and you drop the price, then some buyers may start expressing interest that had been overlooking it previously.
Next, make sure you are marketing the home properly. This means exceptional photography, taken by a professional if, at all possible, that showcases the home without clutter or distractions. It also means listing the home on mobile apps that potential buyers can see on their phones.
Finally, consider a new agent. If your agent is not communicating well, is not marketing your home properly, or is providing poor advice for pricing and staging, then look for a new one.
That said, chances are the problem is not with your agent. Most of the time when a house sits on the market too long it is because it has a serious issue that needs to be addressed, such as inflated pricing or needed updates. If you aren’t willing to make those changes, then you need to consider other home selling options, like HomeGo.
Tired of Trying to Sell? We Can Help
If you are tired of trying to sell your house and need to sell your home quickly in the current market, consider selling to HomeGo. We offer alternatives to the traditional listing process that don’t require you to pay agent commissions and won’t need you to make repairs. Get out of your mortgage faster and close quickly in a timeline that works for you. We will cover your closing costs, leaving more money in your pocket. Reach out today to discuss your home selling needs with HomeGo.