Reasons Your Home Didn't Sell

So you had your property listed on on the market for months and it didn't sell. For your information, listings expire for a reason:

1.  Price: If your house is overpriced it will be less attractive to buyers. Overpricing will only help your competition. Every seller obviously wants to get the most money for his or her house. Ironically, the best way to do this is NOT to list your house at an excessively high price!   
2.  Condition: If you're not willing to do improvements yourself then you need to lower your price to reflect this. To get Top Dollar you need to offer a home in Top Condition.
3. Landscaping- Make sure your lawn is in good condition, your trees and shrubs trimmed and fresh mulch added as needed. Plant some flowers to add color to your landscaping. Put flowering plants near the front door.
4. Exterior of Home- Make sure there is no clutter in the yard, windows cleaned
5. Strengths of property location not emphasized.  Real estate is all about location, and some locations are clearly better than others. The real challenge in selling a home is when your location is not good. For example, if your home is on a busy street you can use hedging or a wall around the property to block unwanted views and reduce noise. If you have a nice view, make sure it is not obstructed and add a sitting area to capitalize on the views.
6. Realtor: Make sure the listing realtor has a proven marketing program. The "one size" marketing plan does not fit all. So make sure that your realtor can taylor their marketing for your needs. It’s important to make sure that you hire a professional who will be open and honest with you about the sale of your home.

If you would like to find out more about my great marketing program, visit my website at www.okc-realty.com   or call to set up a consultation appointment at (405) 426-0307.

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Foreclosure Bargains Getting Harder to Find

Home buyers hoping to snag a really good deal on a foreclosed home are finding it increasingly difficult because supply is shrinking.

The number of foreclosures that are available for sale nationwide fell to 617,000 in December, down from 845,000 in November 2008, reports Barclays Capital.

Not only have attractive homes in popular neighborhoods already been snapped up, but also government help for distressed buyers is delaying more foreclosures.

Demand is driving up prices. Investors say typical prices have climbed from 75 percent of appraised value to 85 percent or higher when there are bidding wars.

Source: The Wall Street Journal, James R. Hagerty (02/23/2010)