The Knoxville real estate market is back to a seller’s market. There are tons of buyers out there looking for the perfect Knoxville home for sale and not enough houses. There is no better time to sell your Knoxville home than in this current market.
But, what if your Knoxville home has been on the market and it hasn’t sold?
If that’s the case, it may be time to take a deeper look at some of the reasons why your Knoxville home hasn’t sold. Here are few common reasons why your Knoxville home hasn’t sold.
The Price Isn’t Right
Price is without a doubt the largest factor that determines when and if a Knoxville home sells.
If a home is underpriced, it will sell quickly. If a home is overpriced, it won’t sell. The trick is to find a price that is a happy medium. A price that will get you the bottom line you need and will get your home sold as quickly as possible.
Price is something that your realtor can be an important resource on. They can provide you with a recommendation on price based on homes that are for sale or that have recently sold in your area. While price is ultimately your call as the seller, it’s important to not undermine their knowledge and expertise. Realtors work in the business of selling homes, they know what price can get a home sold.
Your House Pales In Comparison To The Competition
It’s important to take a look at what other homes are in the market in your price range and do a really honest comparison.
Do the other homes offer a lot more than yours? Are they in better condition? If so, you’ve got a decision to make, you can lower the price or you can do some upgrades so you can compete with your competition.
Upgrades do not necessarily mean you have to put in a new kitchen. Little things can go a long way like painting, updating landscaping, and getting carpets clean.
A price change doesn’t have to be a huge drop either. A little price drop can put you in a whole new bracket of competition.
If your home hasn’t sold in the current market, you’ve got to do something to change your current situation, either in the price or making some simple upgrades.
You’ve Been Difficult
You may not think you’ve been difficult as a seller. But, if you’ve turned down showings or refused to negotiate with low offers, you could be making things more difficult for yourself.
Selling your house is a two way street. Even in a seller’s market, everything won’t necessarily go your way. You’ll still have to be inconvenienced by showings and you may need to work with an offer that at first seemed less that desirable.
Just keep in mind, any level of difficulty, could send a buyer running in the opposite direction. If you refuse a showing, a buyer will find another house. Or, if you refuse to budge on price or certain concessions, a buyer can find someone else who will.
In Conclusion – Take A Deeper Look
If you’re home hasn’t sold in the current market, it’s important to look deeper into the situation. Talk with your realtor and see what suggestion he or she might have. It can be hard to hear what they have to say, but take it to heart. There’s a reason your home hasn’t sold, so it might be time to change your game plan.
Are you thinking about selling your Knoxville home this year? If you are interested in buying a home in Knoxville or in the greater Knoxville area, please do not hesitate to contact us. Rick can be contacted at 865-696-9002 or via email at [email protected]. Kati can be contacted at 865-392-5880 or via email at [email protected].
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