Reasons Your St. Louis Home Might be Stuck on the Market
In many cities across the U.S. there is currently a seller’s market taking place, which is good for you if you’re trying to sell your St. Louis home. But what if your St. Louis home is still not selling, and continues to sit on the market? Well it’s up to you to figure out the reasons and combat them.
Find below a list of reasons that your St. Louis home might be struggling in the market along with ideas on how you can help resolve them.
Set a Reasonable Price
Simply because it’s a seller’s market doesn’t mean you can let your confidence get in the way and set a premium price. You want to keep your confidence in check and be realistic from the start or you will be incredibly disappointed if the home has to sit on the St. Louis market for a while before selling.
In order to set a fair price, look at the current supply and demand in the St. Louis market; if the demand is high and supply is low you can usually get a bit more for your home. But if it’s the opposite, you may need to lower your asking price. You don’t want to price too high and have to lower it later. At the same time you don’t want to price too low and leave money on the table. Work with your agent to a price that will match your home’s value and be competitive with similar homes in the area.
Don’t Skip the Repairs and Updates
It’s difficult to think about putting money into improving a St. Louis home that you’re about to move out of, but that doesn’t mean you get to skip it. The reality is that if you don’t stay up to date on repairs and updates your home may not sell. You don’t have to make any expensive renovations or changes to the property. In many cases, you can get away with a new coat of paint, new faucets, updated door handles or a new ceiling fan to spruce up the home.
Make sure the home smells presentable as well. Sometimes this can be as simple as buying a new candle or baking cookies before a showing. Have a friend or your agent do a walkthrough of the home; if there is still a lingering smell then you may need to do some more investigating to look for the root of the cause and handle it.
While you’re updating a few things in the home take a look at the appliances, including the heater, boilers and HVAC unit. If a potential buyer sees outdated appliances they will wonder what else in the home is outdated. If the appliances look like they are stuck in the 70’s you should update them.
Clear Any Title Issues
In some cases your St. Louis home might not be selling because there are title issues that need to be resolved before someone else can take ownership. Things such as conveyance without a recorded deed (when property is transferred between relatives), paid mortgage still showing a lien, or a mechanic’s lien for work done by a subcontractor, can hold up a sale and need to resolved as quickly as possible if you hope to sell the home. Most title issues are fairly easy to deal with and just require a bit of time to correct. Contact your title company and find out what you need to do then follow their instruction.
Have Professional Photos Taken
Ninety percent of buyers will begin searching for their next home online and will only skim initial listing photos. This means that your photos need to be top notch to grab their attention. The photos should not be blurry or taken at odd angles. Have a professional come in to take the photos, clear the home of clutter, and make sure that it is well organized. Studies show that professional listing photos can actually generate 118% more online views and sell listings 50% faster.
Selling your St. Louis home isn’t as easy as putting a “For Sale” sign in the yard and hoping for the best; there are a number of steps that go into the process. If your home is stuck on the St. Louis market there could be a fixable reason behind it. It’s up to you to figure out what it is and correct it to get your home sold.