Monthly Archives: August 2010
Recent conversations we’ve had with several homeowners about selling their homes remind me of a fact I consider important to remember:
We may be in the age of unprecedented access to information, but there’s still a lot of misinformation out there.
Cases in point are Sellers we’ve talked with in Alabaster and Hoover.
Both have tried to sell their homes, both properties are in popular neighborhoods, but neither home sold; in fact, neither couple even got an Offer. One of the homes has been on the market twice.
According to both Sellers, the reason is pretty obvious. “Everybody knows nothing is selling,” one said, while the other told me,
“There just aren’t any Buyers.” To back that up, one of the Sellers points to a home directly across the street from hers that has
been on the market since November, 2008. Within only a few blocks of this setting are at least four more homes that never sold,
I have to admit that I can’t blame these folks for thinking there are no Buyers out there. After all, the sight of real estate signs swinging in the breeze for long periods of time is pretty convincing visual proof for them.
But when you watch the market day in and day out, a different picture emerges.
With almost 1200 homes having sold across Shelby Co. since April, it’s a bit of a stretch to say there are simply no Buyers. The truth is that those Buyers are going after the best deals they find.
The real reason most homes fail to sell is because they’re overpriced. We see proof of this all the time, both in properties that draw little interest from Buyers, and others that draw almost immediate interest after going on the market.
Generally speaking, the current market is not one for putting your home up for sale to simply test the waters or “just see if it will sell.” Sellers with this perspective face slim chances at best of even getting an Offer.
The homeowner who is motivated to sell, and who is willing to meet Buyers on their price terms is the Seller who is far more likely to be successful.