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Home Not Selling? Make Sure The Price Is Right

Visual When it comes to selling their home some homeowners get lucky; they sell right away, at or above asking price, no problems at all. Other homeowners however may not be so lucky. Their home sits on the market for months despite the number of showings, number of times they decrease the price and number of perks they throw into the deal. The National Association of Realtors most recent report on home sales shows that annually 5.15 million homes are sold; this averages out to a little over 14,000 homes sold each day throughout the country. If your home isn’t one of these 14,000 then why isn’t it selling?

Some real estate agents throughout the country speculate that with this increase in home sales, if a homeowner hasn’t had any luck in selling their home this summer, it could have to do with their asking price. A home with too high of a listing price can be one of the biggest deterrents to buyers when they’re out shopping the real estate market; many buyers won’t even look at a home if they feel it is overpriced. It’s understandable that a homeowner would want to get as much for their home as possible, especially since many lost so much equity a few years ago, however if you’re one of those homeowners whose home has sat on the market all summer long perhaps you need to reevaluate what your asking price is, especially if you haven’t had that many showings.

Make sure you’re consulting with a real estate agent that is familiar with the market in your area to ensure that your home doesn’t sit on the market for months simply because the price is too high; it could end up costing you in the long run.