Temecula is a beautiful town with homes selling at an average of over a quarter million dollars, and they are going pretty quickly, which is not surprising given the current market. The current market is considered “hot,” meaning favorable to the seller and, therefore, an ideal time to put your house on the market. However, sometimes a house stays on the market for far too long, even in seller-favorable market, and that’s when you have to take a step back and regroup.
What is the Status of Your Home?
A stale listing is when a home listed for sale simply doesn’t sell, even in seemingly favorable conditions. In some places, a listing is not sale until it’s been a few months since the home has been on the market. In Temecula, however, it is a bit different since these are usually higher end homes which take longer, on average, to sell. Ideally, a home in a hot market should sell within the first couple of weeks or months. The main determining factor is whether or not your home is gathering significant attention at a reliable pace.
Why Homes Stay on the Market:
There are number of reasons a listing could go stale. One is that the price is too high to be reasonable. Another is that the price is right, but not for the particular neighborhood you’re in. Also a possibility is that the agent is not prepared or equipped to market your caliber of home. Finally, the problem could be with the home itself. Maybe it needs a paint touch-up or larger updates such as a new roof or appliances. If you have an open house, pay attention to what potential buyers are saying. If your hear the same critiques over and over, the chances are good that this could the problem.
What Should You Do?
If the problem is with the home, you might consider taking it of the market to make some necessary renovations, such as giving your home a fresh coat of paint, updating appliances or installing new windows. Sometimes the smallest adjustments can make a huge difference.
Sometimes the price is the problem. Check the recent sales in your area, see what they sold for, how long they have been on the market and if they are the similar to your home in age, size and features such as shingled roof, pool, and the like. If those similar homes have sold for less, chances are your price is too high and you need to bring it down a notch.
If everything else seems in order, take a closer look at your strategy and agent . Since the majority of interested buyers search for homes on the internet, it is of utmost importance that your agent’s website is easily navigable and showcases your home it its best light.
For more information on what your next step in selling your home is, please don’t hesitate to contact us!