Welcome to part two in the series: Why Didn’t My House Sell?
Today, we’ll look at an important reason why homes may not sell in today’s Colorado Springs real estate market.
Sometimes, homes don’t sell the first time they are listed. This series of articles provides some common answers.
See Part One: Why Didn’t My House Sell
The second reason many homes don’t sell the first time they are listed with a Colorado Springs real estate agent?
Reason #2: CONDITION
Of all the reasons why your home may not have sold, the condition can be the most difficult. Not only does the home need to be in excellent repair, but the style and decoration need to be pleasing to a wide variety of people. Repair, style, and decoration are all a part of evaluating your home’s condition
Luckily, the condition of your home is entirely within your control!
To have your home sell in this housing market, it must either be: 1) The NICEST HOME on the market for the SAME PRICE as your competition, or 2) The SAME CONDITION as the other homes, but have the LOWEST PRICE.
As you notice, the price is still a consideration. Price CAN fix a condition issue, but usually at a significant cost to the seller. Buyers always overestimate how much it will cost to repair something, to put down new paint, or spruce up landscaping. Their overestimates directly impact your wallet.
It’s better to have your home in the best condition possible to secure the highest offer possible. Sometimes, a neutral opinion will help you see the home from a buyer’s eyes. We recommend and work with a professional stager who can offer advice and services to our home sellers.
How can you tell if CONDITION was the reason your home didn’t sell?
If you had a decent number of home buyers looking but no offers, or if you only got low-ball offers, then the problem was likely condition. Your listing agent should have followed up with those buyer’s agents to get feedback and then passed that feedback along to you. This should have included some kind of notes on the condition of your home.
If you think the condition of your home is what kept your house from selling, don’t fear! It can take some time and effort, but improving the condition is something every seller can make happen, often for less money than you think.