You had high hopes of selling your Chicago condominium or single-family home this summer. Yet, here it is nearing the end of August and your home hasn’t moved.
What do you do now?
If your home failed to sell this summer, it’s time to take a close look at why buyers didn’t bite. REALTOR.com lists some common reasons for no-sales this summer. The good news? With a few tweaks, you might be able to shake off the summer blues and move your residence this fall.
Pricing: I always tell my clients that most homes that don’t sell, fail to do so because their owners price them too high for today’s market. Take a look at your home’s listing price. Is it higher than what buyers are willing to pay today? Buyers today don’t care what you paid for your house when you bought it. They don’t care if you make a healthy profit when you sell. They only care about paying a fair price in today’s market. If you purchased your home in 2004, 2005 or 2006, you might have to sell your property today for less than what you originally paid for it. That’s just the reality of today’s real estate market. You can’t force buyers to pay a higher price for your home. If there aren’t any buyers making offers on your property, it might be time to lower your asking price.
Curb appeal: Too many sellers fail to put any effort or money into their home’s landscaping. That can immediately turn away potential buyers. Many buyers will skip touring your home if they pull up to find weeds, overgrown lawns or bare patches of earth in the front yard. Take the time to make your home’s exterior as inviting as its interior. This will pay off.
Clutter: And speaking of interiors, you want your home’s interior to seem open and airy. This won’t happen if your home is stuffed with extra furniture, family mementos and personal items. Before listing your home, put extra furniture in storage. This will make your rooms look larger. Put away most of your family photos. This will allow potential buyers to imagine their own family living in your home.