Why Don’t Homes Sell?

by Terrylynn Fisher

As of December 17, 2017, in Clayton (94517) there are 10 homes on the market, and in Concord (entire city) there are 55 homes on the market.  The Clayton average sold price in November 2017 is up 12% from November 2016.  The Concord (94521) average sold price is up 14% from this year over November of 2016.  It is Interesting that most of those on the market at this time are reaching double digit days on market stats.  This is a huge indicator of either a seasonal shift or balance coming to the market.  Everything you read in the press says that there is a shortage of homes on the market and if that is so, then what is wrong with the homes on the market that did not sell in a week?

There are two reasons homes sell, Price and Condition.  The price point has to be right on target in order to get sold as in this market, once a home is on the market over a couple of weeks, buyers wonder what is wrong with it.  There are a couple of statistics in addition to comparable sales that will help fine tune that price.  Realtors do this for a living and are an amazing resource.

Condition is another huge factor in a quick sale.  Whereas a buyer might have taken a home “as is” for some major things to fix a couple of years ago, as prices increase, they either cannot afford to take on extra projects that drain their discretionary income or just prefer a move-in ready home.

What to do?  Trainer Christine Rae, Certified Staging Professionals (CSP) teaches staging concepts in her business class on staging and says “staging costs less than a price reduction”.  In that, she is right on target.  Most sellers will tolerate a $5000 to $20000 or more price decrease if a home is not selling but don’t want to invest in paint or repairs and/or stage it prior to market?  This makes no sense.  “Staging sells homes”, statistics validate this time after time.  Buyers make a first impression within seconds of entering the home.  If their impression of the entry, for example, is cobwebs, chipped paint or a hard to open lock, they will go inside looking for more deficits.

If they find their first steps into the home minus any of these things and a clean, well-staged presence, they will begin to look for more things they like about the home.  Keeping their focus on the positives, instead of the negatives can get your home SOLD when the others sit.  And yes, it can be the little things that will derail a sale.  Sellers will do well to take staging and condition recommendations seriously and then once staged, leave everything just the way it was presented.   There is a science associated with staging.  As Christine says, “Where the eye rests, the sale begins.”  Be sure the buyer’s eye rests on the positive attributes of your home and you’ll be the next home sold.

Terrylynn Fisher, Real Estate Broker Associate with Dudum Real Estate Group is an over 35+ year veteran of real estate, author of blogs and magazine articles for Realtors and stagers.  Cal BRE #00615420, Contact 925 876 0966,  www.BuyStageSell.com