This article comes courtesy of HouseMasters.com:
Many news reports point to the sub prime lending mess as the cause for the housing slump. But home sellers should know that plenty of people with good credit are simply cautious buyers, which can keep sales down.
In most areas it’s a buyer’s market, so people can be picky. “Most buyers in this market will try to re-negotiate based on the findings of their home inspection. If the seller is unwilling to make repairs or lower the price, they may walk away because they knew other properties are available,” says Kathleen Kuhn, president and CEO of HouseMaster.
With approximately two million home inspections collectively performed by its franchise offices, HouseMaster is aware of a number of conditions that are more likely to scare buyers away.
But sellers do not have to stand by with their fingers crossed to secure a fair sale.
“More and more home sellers are getting a pre-listing home inspection that helps identify potential deal-breaking issues before the house is listed on the market,” Kuhn says. “This way, sellers can fix problems and worry less about a buyer walking away late in the deal process.”
According to Kuhn, the following are “The Fearsome Four” when it comes to real estate deals:
- Roofing Concerns: A new homeowner does not want the expense of roof replacement shortly after closing. Many sellers believe that if their roof is not presently leaking it is in acceptable condition. But an astute buyer knows that a worn roof needs to be replaced before it leaks.
- Electrical Problems: Older panels are often undersized and might even pose a fire hazard. Although an upgrade is usually straightforward, the potential fire risk can be scary for prospective buyers.
- Structural Issues: Major structural issues are one of the least common defects found in homes, but when they do occur, they can be costly to repair, and can really stop a buyer in his tracks. Fortunately, there are often repair options that will make the sales process go smoother. But it will often require another inspection by a structural engineer or repair professional, and additional time, to determine what can be done.
- Synthetic Stucco or Exterior Insulation Finish Systems (EIFS): Overall EIFS can be effective, economical alternatives to traditional stucco. Unfortunately improper installation can lead to trapped moisture behind the siding. This can cause structural damage and mold, and can cost tens of thousands of dollars to correct.
“Sellers lose some advantage when they are caught off guard by issues, even minor ones. In a market where every edge counts, sellers can use tools like pre-listing home inspections and repair records to show that they are conscientious and have taken appropriate steps to sell responsibly and competitively,” Kuhn says.
Remember, these tips are only general guidelines. Since each situation is different, contact a professional if you have questions about a specific issue.
More home safety and maintenance information is available online at www.housemaster.com.
This information is provided for general guidance purposes only. Neither DBR Franchising, LLC nor the local HouseMaster® franchise warrants its accuracy and assumes no liability related to its use. Contact the local franchise office and/or qualified specialists for advice pertinent to your specific house or circumstances. © Copyright 2008 DBR. Each HouseMaster franchise is an independently owned and operated business. HouseMaster is a registered trademark of DBR Franchising, LLC.
Filed under Fort Mill SC, Home Buyers, Home Sellers by 
If you have a house on the market that you’re trying to sell, but no matter what you do it just seem to be generating the interest and action you’d expect, chances are there are few things you or your agent probably aren’t doing to get it moving.
You see, even in this challenging economy real estate is still moving. People are still buying and selling houses so there’s no reason to think your home couldn’t be one of them. Sure, it’s a little more difficult to sell a house today than it was just a few short years ago, but by making sure you do a few things correctly it’s not unreasonable to expect your home to sell.
So, here are 5 reasons why your home may not be selling:
- Your home isn’t in top condition. If you want to sell your home fast and for top dollar then it absolutely MUST be in tip top shape.
While there might be a few people looking to find a home that requires some TLC, most people in today’s marketplace are looking for homes that are move-in ready. This means no holes in the walls, freshly painted walls, floors that are in good shape, and very little ‘updating’ required.
If your home leaves buyers feeling like they’d have a lengthy list of chores to do before they moved in then chances are you’ve pinpointed a big reason why your home hasn’t sold yet.
- Not enough photos OR badly taken photos. Because more than 80% of all house searches begin online, you have just a few seconds to capture the attention of potential buyers. As a result, it’s absolutely crucial that the first photos they see show your home in it’s best light.
This means taking the photos at the right time of day so the light is at its best, removing any obstacles that could block a full view of the house, and making sure the driveway is clear of cars, bikes, or other vehicles.
You also want to make sure you have enough photos to give prospective buyers a good feel for your home, as well as what they can expect to see when they actually do come see it in person.
- You aren’t doing enough to market your home. Nowadays you simply can’t list a house on the MLS system and expect it to sell. To sell a home quickly and for top dollar in today’s marketplace you’ve got to employ as many marketing methods as possible.
This means an extensive listing in the MLS, listing it on real estate websites, sending postcards to neighbors, running ads in the newspaper, holding open houses, networking with other agents, etc. There are way too many methods available to rely on just one or two to get your home sold.
- You hired the wrong listing again OR haven’t hired a real estate agent at all. Yes, you can sell your home as a ‘for sale by owner’, but it’s not easy.
That being said, if you do decide to hire a real estate agent you definitely want to make sure you’ve hired the right one for the job. Interview a handful of agents and ask them lots of questions. What’s their plan to market your home? How many listings have they sold in the last 6 months? What have their previous clients said about their experience working with them?
If you don’t get the answers you want to hear, don’t be afraid to interview more agents. Remember, when it comes to selling your home a quality real estate agent can be more than worth their weight in gold, but you might have to do a little panning to find the right one for you.
Be sure to learn about why you should hire Sharon Salisbury to help you sell your home!
- Your home isn’t priced correctly. In most cases, this is the biggest reason why real estate doesn’t sell. A home that is priced correctly will generate a high amount of interest as well as qualified offers. If you try to price your home too high hoping to be able to negotiate a final price that’s lower than what it’s listed at, chances are you won’t have much luck. Home buyers nowadays typically look at the listing price as a starting point and if it’s outside of what they think it should be, they won’t even give it a second look.
So, price your home competitively and watch as the qualified buyers come running and chances are you’ll very soon be entertaining offers to sell!
Remember, there’s a lot that goes in to selling a home quickly and for top dollar so don’t expect it to happen overnight. However, by avoiding these 5 mistakes there’s really no reason why you shouldn’t expect to sell your home for a dollar amount you’re happy with and in a time frame that makes you jump for joy!
Filed under Hiring An Agent, Home Sellers, Sell Your Home by
