Local reporter David Bracken wrote a story recently about homes that have been on the market for extended periods. A lot more homes than you might think are staying on the market for over 1 year and in some cases, well over two.
Every birthday house has its own story, but there are a few common themes.
Many are luxury homes with price tags and room counts that looked a lot more attractive, and practical, in 2006 than they do in 2011. Some are new and still owned by their builders, who took out loans that limit the amount they’re willing to cut the price.
Others have distressed sellers – people who want to sell but can’t because their homes are now worth less than they owe on their mortgages.
And then there are the sellers who can sell but refuse to give in to the current reality that their homes are not worth as much as they once were.
Read more: http://raleighrealestatenews.com/p8j
There is no specific formula for when you should or should not sell. If you are lucky, it’s a choice and not a forced due to a family crisis of some sort.
No amount of staging or marketing will sell a home that is overpriced. Setting a sales price on your home is not a guessing game but it’s not scientific either. An experienced agent will understand what the market is doing and assist you in hitting the right target.