Why is my house not selling

January 16, 2009

Why is my house not selling! This is probably the number one statement from people trying to sell their home. With the market absorption at its peak for the amount of listings , what can a seller do to make their home stand out to a potential buyer. Buyers are at a premium and they are more than picky about the house they want to purchase. With so many houses to choose from, and the desire to see all of them ,buyers are just not ready to make a commitment.

Your house has to be the shiny penny in the neighborhood. Place yourself in the position of a buyer and take a good look at your home. Is your home the best looking from the outside than all the other homes in your neighborhood? If your home has clutter, or chipped paint around the windows ,or the screen door is shabby looking, then potential buyers are going to think the inside is the same. No matter how gorgeous the inside looks, if people drive by and the outside is not attractive ,then the buyer is not going to want to look at the inside. Don’t be afraid to ask your realtor for their opinion as to what you can do to make your home more pleasing to a buyer. As a realtor I feel it is my obligation to offer advice to my clients on what they should do to make their home more appealing. Maggie


The Real World of Real Estate

January 13, 2009

As a realtor for the past 11 years I have seen the housing market explode to the point of properties selling at unbelievable prices. As a property owner, I have even admitted to clients that for my personal property to be valued at the present day prices, is beyond my comprehension. When I show clients 3 bedroom, two bath homes with app. 1300 sq feet ,new construction, in our area for a price well over $200,000, it makes me sad to think how many average people just can not afford to buy a home. This is the mid west, not out east or the west coast. So what exactly is the reason why the housing market has gotten out of control. Years ago families were happy just to be able to own a home. I know of families with nine children that owned very modest cape cods and believe it or not those children grew up to be well adjusted adults. Children doubled or tripled up in bedrooms. They learned to share. Today families have the opinion that each child needs their own bedroom, 3 car garages and granite countertops are a must. Therefore the lending industry pushed the limits on what these families could actually afford for a mortgage payment ,and by juggling numbers and offering interest rates at a very low introductory offer, were able to finance outrageous mortgages. These same families had to have the latest in technology and the newest in furniture etc. The only way to obtain these instant gratification material goods was to use the plastic card. There are always the sad cases of loss of jobs or health situations where not making the payments on their homes were of no fault of their own, but so many times with the attitude of society today, it is just easier to walk away from obligations and let someone else deal with the loss of thousands of dollars. This frenzy to buy homes, because there was all this easy to obtain money out there ,drove the price of homes through the roof. It was not uncommon in our area to have 4 offers all competing on a home at once. The nice homes in good locations, sometimes sold before the for sale sign was installed. Now we have an abundance of homes sitting empty that can not be sold. Home prices are falling even in our stable economy here in the midwest. Foreclosure homes are being allowed to sit empty for months, sometimes a whole year before they are put up for sale. These homes are decaying before our eyes. The banks are refusing to put any money into these homes to help sell them. Even if it only means new carpeting and paint. They are allowing these homes to grow mold up to the ceilings. One home I showed to a client had rotten food left in the refrigerator and freezer, so the smell was so overwhelming people were nauseated when they walked in to view the house. Carpeting at these homes is filled with the stench of animals defacating on them and there are holes in the walls and doors. This is not one house or 5, this is the norm. The banks are taking losses on these homes of thousands of dollars, just to get them sold. Instead of putting $5,000- $10,000 worth of repairs on these homes, they are taking these huge losses and then are asking us taxpayers to bail them out. All tax paying Americans should shout from the roof top, to stop this nonsense of our hard earned tax money going towards bailing out such horrible business managemet practices. In the meantime they are handing out millions of dollars in bonuses each year.

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January 13, 2009

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