You want to move... get on with your life. You want to stop losing money like a gushing fire hydrant! All you want to do is sell your house... is that too much to ask? But no one has even so much as whispered an offer! “Why is this happening?” you ask yourself...
According to the national board of realtors, the majority of houses listed with realtors that end up on the expired list is caused by one of four reasons:
1. There is something wrong with the house (It needs repairs, or sprucing up, perhaps the interior isn’t appealing - maybe the room color choices could be better, or any number of cosmetic issues).
2. The location of the house (Perhaps the neighborhood isn’t the best)
3. The ineffectiveness of the particular real estate agent handling the sale
4. The price is too high!
The Top #1 reason your house isn’t selling…
1. The price is too high!
You think, or you’ve been told, that your house is worth a certain amount. However, the market may not agree with you.
Simply put, value is determined by what someone is willing to pay. In other words, the best way to determine value is to find out what price people have actually paid for a house that is exactly like yours within the last 3-6 months.
Once true value is established, then you look at all of the other houses that are exactly like yours, which are for sale. If your house is just as appealing as all the others, then how do you attract a potential buyer and convince them that they should buy your house instead of any of the others?
Be sure that your house is priced the lowest! I’m not suggesting that you give it away.
However, if your potential buyer thinks that they are “getting a deal” then you’ve just appealed to every person’s basic desire and motivation… greed!
How do you know you’re not going to lose money by selling low? Consider this:
Your house has already been on the market for how long?
How much has it cost you already by preventing you from getting on with your life?
Perhaps you moved your family out already, and you’re still waiting. Maybe you’re paying on two mortgages now, slowly bleeding yourself dry.
Are you waiting for your house to sell before you can buy your new one, all the while interest rates are going up? What’s it costing you now?
Maybe you’ve got your life savings tied up in your house. And because of what’s happened to the real estate market… you know it’s in a bad way now. Home values have dropped considerably, and interest rates are increasing on a monthly basis!
The foreclosure rates are at levels that this country has never seen before! The mortgage industry is bracing itself for major failures. The federal government is trying to prevent the possibility of a disastrous financial bailout that could cripple the economy!
And because of the economy, you’re now trying to get your money out. The clock is ticking... and with each tick, you lose more and more money.
Think about it.
Are you better off selling your house now, for a little less than you wanted? Or waiting (for who knows how long) to get the unrealistic price you wanted, and watching the money get sucked out of your pockets so fast it’ll make your head spin?
The real estate market is in a bad way right now, and it will be a giant money-suck to people trying to wait it out... the astronomical increase in foreclosures is proof enough.
You can put an end to your frustrations, stop the hemorrhaging flow of YOUR MONEY down the drain, and get on with your life RIGHT NOW!
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