I don’t care how much money you’ve put into the landscape; your home is worth what the market says it is! Just because you have put $10k into your yard or $50k into repairs, that doesn’t mean that your home is worth $60k more. I’m not trying to be harsh; I am trying to be real! Here are a few things you should consider if your home is sitting on the market and not selling.
The first thing you should always consider is dropping the price.
I get it; no one wants to hear that, but a price reduction is a valid option if your home is not selling in any real estate market. What we’ve found more often than not is that the misinformed advice homeowners are getting is usually from someone who is not actually selling houses in Northern Virginia.
An excellent way to ensure you are getting the best possible advice about the value point of your home is to seek it from someone who is actively selling a lot of houses. The truth is, sometimes a professional will tell you to come in high and sometimes they will ask you to go in low. The good agents have a strategy that they have seen work time and time again in your market. Their advice is something that should be encouraged, not dismissed.
Another option for you is to lease your property.
Sometimes it just doesn’t make sense to move in the current market, but you still want to sell your house. So, if the market isn’t going to allow you to sell your home, this is an alternative strategy that will enable you to hold on to it and make money simultaneously. The best part is you still get to move on with your life. I would never discount the down payment and seller-financing option.
Homes entering the market, sitting for 90 days, and then expiring with the sellers not sure why the house didn’t sell happens all too often in real estate. You should never let lousy advice, the market, or fear stop you from continuing on your journey (it happens more often than you’d think). Seek help from an expert who is not only willing to fight to sell your home but also sold enough homes to have an advanced understanding of the Northern Virginia market.