Why your house may not be selling.

There may be several reasons your house isn't selling. Here are three common causes a property may be languishing on the market.

1. Price. Remember, your property is only worth as much as someone is willing to pay for it. No one wants to lose money on a property, but keep in mind the economic climate and if you need to sell, be prepared to price your home competitively. Your listing agent should have provided you with a list of comparables in the area to equip you with the knowledge to price your home realistically.
2. Condition. Your home should be immaculate when potential buyers view it. The importance of a positive first impression cannot be stressed enough. Windows should be clean, floors polished or vacuumed and all clutter should be out of sight. A fresh coat of paint, minor repairs and well-lit entryways go a long way. Neutralize your space with soft color, so it appeals to the masses, instead of a small group. If necessary, consult a professional stager to get your house in shape.
3. Location. The one thing you can't change about your property is its location. This is another instance when your savvy real estate professional should discuss sales options with you. Stress the positives of the location, perhaps it is located near mass transit or the area is starting to turn around. Instead of selling your home in a neighborhood that is not ideal, consider renting it until the area improves.

Consult our Monrovia or Glendora offices today to connect with a professional to assist with your housing needs.

How do I know if/when I should lower my home price?

Sellers cannot change the location, layout, or lot size of their property. However, one thing sellers have complete control over is the listing price. Although no seller likes to lower the price, in a buyer’s market, it is often the best catalyst to sell. Here are some indications you may need to lower your price.

Remember, you have the same goal as your REALTOR® to sell your property for the best possible price in a reasonable amount of time. Be open to suggestions and rely on the experience and success of your professional REALTOR®.

1. You have a lot of potential buyers who have come through your home, but you have not received offers. This may be sign that potential buyers are waiting for you to lower your price.
2. Ask your REALTOR® the average time comparables in your area were on the market before selling. If your home has been on the market for significantly longer, and is sufficiently advertised, without generating interest, it may be time to adjust your price.
3. If you are not getting traffic or offers you may have priced yourself out of contention for your target audience. If you have a starter home with two bedrooms and one bath, with the price tag of a five-bedroom three-bath home, potential buyers will not make offers, let alone come for a viewing. Be realistic when pricing your home or be prepared to languish on the market.
4. Your competition wins. Visit open houses in the area that are in the same price point and decide how and if your property compares.

To learn more about our team's pricing strategies, please contact our offices today at 626-358-1858 (Monrovia) or 626-963-7621 (Glendora).

Hot Buys of the Week: 4/4/2012

Every week we tour the newly available listings and Open Houses of fellow Brokers & REALTORS. When we find what we consider to be a fantastic opportunity we'd like to share it with you. For this week, our two Hot Buys are:

320 Wysteria Way in Sierra Madre - Listed at $1,398,000

and 

317 Parkrose Avenue in Monrovia - Listed at $599,000

For the size, amenities, and location these two homes are both fantastic purchases.

To learn more about them, contact our offices today at 626-358-1858.

All information is deemed reliable though not guaranteed.