Knoxville Tennessee Real Estate Blog

Image via WikipediaIf you have had your Knoxville, Tennessee area house on the market for more than 6 months and it has not sold yet, YOU have a problem.

Based on my 30+ years of home selling experience in the Knoxville real estate market, 1 or more of the reasons below is why you still own your house and not a new, happy homeowner.

1. You got an offer something in the past and turned it down. Statistically I’ve found that the first offer you get is usually the best one you’re going to get based on current market conditions. Sure you could have gotten more 2 years ago and you may get more 2-4 years from now but since your house is for sale now I’m assuming you want to sell now.
2. It’s overpriced. Knoxville buyers read the news just like you do. Right now the stock market is in the tank, mortgage loans are tougher to get, and consumer confidence is lower than usual. Aggressive pricing is necessary to sell in the “right now” present market. Check your price and ask yourself if you would buy your house for your price today? If the answer is no then the solution is obvious, lower your price.
3. You’re not listening. To the market, to your Realtor, to buyers. Sometimes you have issues with your house that are cheap fixes. If your house needs painting, paint it. You get about a 5 to 1 return for every dollar spent on painting. If your carpet is worn and you can’t afford to replace it, call a carpet store, get an estimate, and offer to write a check at closing for new carpet. Buyers are willing to pay premium prices for houses in good repair.
4. You’ve been for sale too long. Knoxville houses, like all merchandise for sale, get stale after a time. Buyers that are shopping ask what’s wrong with a house that’s been on the market 6 months or longer. Better to price correctly up front and sell faster if even for a little less. Add up what continuing to own your house and have to put your moving plans on hold will cost. You’ll usually find you’re better off to go ahead and get it sold now so you and your family can move on with their lives.
5. Too much “stuff”. Your house is too cluttered with your stuff and furniture for potential buyers to imagine what their things would look like. Pack up trophys, family photos, collections, and excess furniture. Rent a storage building or POD if necessary but get it out of the house and out of a buyer’s sight so they can see the space. Some fresh towels in the baths, bare kitchen counters so buyers can see work space, and things like that go a long way to attracting buyers.
6. Put yourself in a buyer’s shoes. Buyers are constantly bombarded by the media about declining home prices, foreclosures, stocks going down, gas prices going up, and other negative news. No wonder they’re nervous about becoming obligated to hundreds of thousands of dollars in debt by buying your house. Make it better than the competition, offer some financial incentives for them, and make it irresistible to them.
7. Don’t expect buyers to fix your deferred maintenance and decorating items. One of the cold hard facts of home ownership in Knoxville, Tennessee as well as most everywhere else, is that there is ongoing maintenance and decorating that needs to be done periodically. Roofs have to be replaced, landscaping needs to be trimmed and maintained, dated decor needs freshening. While buyers are willing to pay a premium for a house that’s in “Move In” condition, they often demand a deep discount if they have to do a lot of things you should have been doing over the years.
8. What caused you to buy your house? Is it close to a popular Knox County school, shopping, in a great area. Whatever the reason most buyers will likely be attracted to the same things, make sure they know about them in your advertising.

If you’re thinking of spiffing up your Knoxville area house to make it sell faster, or if you’re a new Knoxville area homeowner I can give you a 10% off coupon from Lowe’s that is good for any one purchase up to a maximum of $10,000! That mean if you spend 10,000 bucks at Lowe’s you get $1,000 off, $1,000, you get $100 off. No cost and no obligation, just call me at (865) 693-3232 or email me for the free Lowe’s coupon.

 

This great, free 10% off coupon is ONLY available from Realtors that are participating in Lowe’s Realtor Benefits program.

My Lowe’s “Inside Out”, free monthly e-newsletter is full of great advice too. No cost, no obligation, just send an email and say “Sign me up Jim.”

• Monthly tips on selling, buying and moving
• Education about innovative products and projects around the home that yield the highest return
• Important home maintenance tips
• Periodic project starters that will include links to Lowe’s how-to videos and special savings at Lowe’s stores

Visit KnoxvilleHomeCenter.com and click “Sellers” for lots of good fix up tips to make your house more appealing to potential buyers and get it sold faster for a higher price.