Nigel Chapman | Altoona Iowa Real Estate for Sale

If you are a home seller and your property remains unsold for a long period of time, there are a lot of possible causes. Here are some of the possible reasons why your home has not sold.

You're selling your property at too high a price

Homes that are not sold immediately are priced too high. Even if buyers love your neighborhood, think your house has awesome curb appeal, they will walk away if they find out the price and it is too high . If you really want your property to be sold immediately, then it would be better to make necessary adjustments to your price. Consider the exact market value of your house then check on the trends in your area to determine if your price is reasonable or not. Keep in mind that you possible have a lot of competitors and overpricing your property will hurt you. Although some buyers could even offer you your list price, the appraiser could reject the price and the transaction will fall apart within a few days of your anticipated closing. Just imagine, the utilities are about to be changed, you are living from boxes, cannot wait to get the keys to your next new home and wham! The appraiser does not agree with your price and the buyers lender stops the transaction!

Your property's condition

Due to the increased number of homes being sold in the current market, your property should be priced competitively. Your property should even look as good the newly built homes to attract buyers. If you're able to market your home properly, then you're sure to get a lot of prospective buyers. You can do this by carefully examining your home. Check out the possible repairs that your house needs. Does your house needs repainting or your plumbing need fixing? Try putting your feet into the buyer's shoes. A house that needs a lot of repairs would definitely not be appealing to you. Most buyers want to move in immediately after purchase. It would be good if you will make some necessary make-over to your house by repainting the walls and ceilings. Refinishing hardwood floors and having carpets professionally cleaned would also be a good way to attract buyers.

Location of your property

This is probably overrated but the location of your property is a huge factor in it being sold quickly. Most buyers would prefer a home that is accessible to almost every facility that they will need. Usually, homes that are near the church, near the school, and near the office are sold faster than those that are not. Buyers also take into consideration the crime rate in the neighborhood. Aside from that, most buyers also tend to check the entire neighborhood's ambiance and look. For each of these qualities that your home does not meet, you should consider a price adjustment.

 The marketing strategy used is not working

A Listing agent is responsible for marketing your home to the maximum number of buyers. Over 80% of buyers use the internet to research the homes they will consider buying. Is your listing brokerage internet savvy? Do they have upgraded Realtor.com listings? Do they feed their listings out to as many other internet websites (including their competitors) as possible? Please note that many traditional companies tell you they want all agents to sell your home, but in reality they are trying to keep all the commissions for themselves! If you have concerns about this, then perhaps you should be looking at other listing agents.

Homes are "just not selling" in your neighborhood

For obvious reasons, you won't be able to sell your home if sales in your area are very low. Usually, there are trends of sales within a certain location. Some locations or neighborhoods may have good sales while other places don't even have a single property sold. Another reason is that many markets currently have more homes on the market than potential buyers! If that's the case, the best possible solution is to sell your property at a very low price. Although this strategy is not popular with sellers, it is still effective if your goal is to sell your property quickly. If this situation could result in less money than you require to satisfy your mortgage, talk to a short sale expert and see if they can assist you. A Certified Distressed Property Expert is a great resource.

Your property can't be accessed by potential buyers

For you to be able to sell your property immediately, it has to be readily accessible. Does your agent have a lockbox on the home? Are they members of the local Multiple Listing Service? Are they part of a national company thus ensuring clients relocating into state can find your property? Short notice viewings will also help. Demanding 24 hours notice will not encourage a buyer or their agent to view your home. Please consider, the easier it is for us to see your home, the higher your chances of getting a prompt sale.

To contact a Distressed Property Expert in your area, please contact the Author.

Nigel Chapman, Certified Distressed Property Expert

515 321-8094 Nigel@RealEstateConcepts.net

Read all my blogs at http://www.DesMoinesBlogger.com

Nigel Chapman, Managing Partner, RE/MAX Real Estate Concepts, 550 36th Ave SW, Altoona, IA 50009. Each office independently owned and operated. Equal Housing Opportunity. Licensed to sell Real Estate in Iowa.

Avoid pricing your property too high

Although you would like to maximize profit when selling your property, this could actually hinder you. When your property is listed too high, potential buyers will not look. Once you realize this and reduce the price, buyers start thinking it is an old listing or you are desperate to sell. Make sure you and your agent price your home at the right price for the market and your circumstances.

Re-finance Appraisals Should Not be Mistaken for the Market Value of Your Property

Many people believe that the refinance appraisal they recently received is the same a market value - often it is not. Lenders who are offering re-financing often increase the appraisal because you have good credit, they want your business, you are a great customer, etc. The real market value of your property may actually be lower than this appraisal. Using this refinance appraisal will often result in pricing your high too high. Ensure you ask the advice of your real estate professional. Ask them to show you comparative sales in your area to help establish a fair market value.

Present / stage your home well

This may sound obvious, but your home needs to present itself well. Buyers are emotional, if they walk into your home and feel at home themselves; they are more likely to buy. If possible, do some repairs, paint and make sure everything works as intended. Make sure the interior is clean, everything is picked up and the home shows well. If you have pets, ensure odors are eliminated and your pets are not ‘in the buyers face'. Many people do not like to buy a home that has had smelly, hairy pets.

Do not "force sell" your home

When potential buyers are viewing your home, never forcefully sell it. Allow your buyers to examine your home and make them feel comfortable at the same time. If possible, leave the house and let the real estate professional talk to the buyers. If you are showing the home yourself, reach the emotions of the buyer. Discuss the benefits of the home and what you love about it. If the buyer feels you are force selling the home and feels uncomfortable, they will promptly leave.

Nigel Chapman, 515 321-8094 Nigel@RealEstateConcepts.net

Read all my blogs at www.DesMoinesBlogger.com

Nigel Chapman, Managing Partner, RE/MAX Real Estate Concepts, 550 36th Ave SW, Altoona, IA 50009. Each office independently owned and operated. Equal Housing Opportunity. Licensed to sell Real Estate in Iowa.

Our market is not as bad as Sacremento, but the sellers can be the same :)

If I could only find an agent who sees things my way," whined a wanna-be seller. First he tried to refinance, but the mortgage broker ran the comps and couldn't justify the value. Then he considered selling, but only if he could find an agent who truly understood the value of his home.

Harry, we'll call him, bought a home in Sacramento two years ago for around $300,000. Part of his problem was the ZIP code -- that area was, and still is, depressed. Harry, blinded by the falling market in Sacramento and feeling it affected everybody else in town but him, insisted he had enough equity to either refinance or sell.

I ran a map search for him that crossed ZIP codes and encompassed more desirable areas. The results were the same. His home was worth about $200,000. I delivered the news.

Harry exploded: "I see you came up with the two miserable comps the mortgage broker found." He demanded that I use a different formula, the one that exists in Harry's head. The thing is I found a few dozen comparable sales, and they all pointed to the same hard, cold, cruel number.

In the old days -- like 5 years ago -- appraisers would throw out the foreclosure and short sale comps from an appraisal. But the truth is today those depressed sales are what comprise the market. Foreclosures affect the neighborhood. They make up the market values of nearby homes. As I explained to Harry, even if we found a buyer willing to pay Harry's inflated price, that buyer's lender would never appraise that home at the higher value.

It's not a conspiracy, Harry. The problem is you paid too much for the home when you bought it and values all around you have declined. Harry's not too happy with me right now. Oh, well.

This blog is reprinted in it's entirety with the kind permission of Elizabeth Weintraub, a Broker Associate with Lyon Real Estate in Sacremento, CA. Elizabeth is an expert in her local media and writes an awesome blog which can be found at http://activerain.com/blogs/elizabethweintraub

Behind on payments?   Heading toward foreclosure?   Think you are on your own?   Need help, but don't know where to turn? Feeling embarrassed?

STOP WORRYING! HELP IS AT HAND!

We have all seen the little signs on the roadside "Sell your home now - for cash", "Facing foreclosure, call us". Yeah right. Most of the people that call end up in a foreclosure situation when they didn't need to! If the investor cannot negotiate the price he wants from your lender, he will often walk away! Leaving you against a wall!

Did you also know that a foreclosure affects your credit FOREVER! You can qualify for a mortgage in a little as 2 years after a shortsale! Think about your last credit application form, or even sometimes a job application. Did it ask "Have you ever had a foreclosure?". I bet it never said "Have you ever short saled your home?"!! Let my team walk you through the various options you may have.

Approx 40% of sales in the Des Moines Area this year could be distressed properties! or should we say VERY distressed owners?

We are real estate professionals. If we help you keep your house, we charge you nothing - you love us forever, refer us to all your friends and family and when you are ready to sell we will be waiting for your call! If we are unable to help you keep your home, we will all leave with our heads held high - know we have fought a great fight and done everything we can.

Loan mods, short refi's, Home Affordable refinance, shortsale, foreclosure. When you are ready to talk, call my team.

Beware of foreclosure rescue scams - help really can be FREE

Nigel Chapman 515 321-8094 Nigel@RealEstateConcepts.net

Read all my blogs at www.DesMoinesBlogger.com

Nigel Chapman, Managing Partner, RE/MAX Real Estate Concepts, 550 36th Ave SW, Altoona, IA 50009. Each office independently owned and operated. Equal Housing Opportunity.