The Housing Market is Hot
So far, the housing market this year continues to improve for pre-existing homeowners and newly constructed homes sales. With a high demand for homes and a stagnant supply of inventory throughout South Orange County, houses that do go on the market are selling fast and usually go for above asking price. If you're looking for the opportune time to sell your home in Orange County, it's now. But, if you're one of the rare few who has recently listed your home in this increasingly hot market and you're not getting any hits, you could be on the verge of a cold listing. Before you loose hope completely, take a look at some of these less obvious causes for a cold listing in a hot market.
Causes for a Cold Listing in a Hot Market
Sometimes a great listing hits the market and simply doesn't sell. Here are some of the biggest causes for a cold listing in a hot market:
Clutter - Helping potential buyers visualize and see your home for what it truly is can be difficult when walking into a listing that is packed with stuff. Help your buyers fall in love with your home by making sure it isn't buried under furniture, laundry and other cluttering knick-knacks. Also make sure everything is extra clean, even the walls and ceilings.
Staging - Maybe clutter isn't the issue, but for some reason your home is still not selling. You may want to consider hiring a staging company. Staging has been found to decrease the amount of time listings spend on the market and increases selling price. Learn more about home staging here.
Price - The initial listing price of your home is crucial and plays a large role in how quickly it will sell. Don't believe the common misconception that setting the price higher and coming down later or being willing to accept a reasonable counteroffer is a safe way to get the best price for their home. Make sure you hire a local real estate agent who knows your neighborhood and can help you price your home according to its worth within your specific market.
Disrepair - If everything else seems in order, the home is clean, the staging is tasteful and the price is right but your home still isn't selling there is one last thing to consider. Major repairs are a huge turn-off to potential buyers. In fact, only 19 percent of buyers are willing to compromise on the condition of the home. Major repairs that buyers are usually disinterested in taking on with their now home investment include: installing an air conditioning unit, a new roof, or replacing a water heater.
Sell Your Home Faster with an Experienced Orange County Agent
If you're looking to sell your home in South Orange County, I can help you. My most recent sales throughout San Clemente and Dan Point have all spent an average of 2 weeks on the market and some have even had multiple offers above asking price. Hiring a real estate agent who knows your neighborhood and is invested in helping you get the most for your home is crucial in the home selling process, whether the market is hot or not. Don't take the risk of selling for less when you work with one of the top selling real estate agents in Laguna Niguel. Contact me today to get started.