Your Home Hasn’t Sold This Summer. What Went Wrong?
You had high hopes of selling your Chicago home this summer. You envisioned moving out of your current residence and into your new one before the fall began.
But now summer is coming to an end and your home remains on the market. What went wrong? Why didn’t your condominium or single-family home sell this summer?
The Huffington Post recently ran an interesting feature on some of the main reasons why homes don’t sell. I’d suggest giving it a read: It does list many of the most common reasons why some homes, in Chicago and during every season, sit on the market longer than others.
The most common reason for a home not selling is the last one that the Post story lists: pricing. Many homeowners still insist on pricing their Chicago homes higher than what the market will support. Remember, buyers today don’t care what you paid for your home. They don’t care, either, how much you owe on your mortgage. They only care about what your home is worth today. They won’t pay more than that, no matter how badly you might wish they would.
That’s why it’s so important to work with a REALTOR® who knows your neighborhood to set the right asking price for your home. If you set the right price immediately, you’d dramatically improve your home’s chances of selling.
The Huffington Post story mentions clutter, too. This is an important point. You want your home to look airy, bright and spacious. If its rooms are crammed with excess furniture, bookshelves, tables and mementos, your home will instead look tiny and cramped. That is a big turnoff to buyers.
Then there’s curb appeal, another factor rightly listed by the Huffington Post story. If your home’s front yard is choked with weeds, if there isn’t any color from flowers or if the driveway is cracked, many buyers will simply drive away without stepping foot in your home.
Fortunately, these common mistakes can be fixed. My advice? Set your home’s asking price at the right level, remove all that excess furniture and spend some time sprucing up its front yard. Sure, the summer’s always over. But there’s no reason why you can’t sell that home in the fall.