If you have recently left the real estate market with a home that failed to sell, it is time for you to make a tough decision.
The wave of foreclosures that has been forming in the sea of distressed properties in Tallahassee will be hitting the market soon, and the competition will be far too fierce for people who are trying to pull equity from their homes. The race is on to beat them to the market.
The one thought you do not need to have is whether or not to wait until next year. A home that failed to sell this year will very likely fetch far less money next year than it would have brought in today’s real estate market, as banks dump inventory with liquidation pricing.
No, the real decision is whether to immediately sell a home that failed to sell previously, or to decide to put the sale off for five or more years.
Marketing A Home That Failed To Sell
Marketing a home that failed to sell during a recent effort in the Tallahassee MLS requires more effort than marketing a home that is new to the market. Why?
Because the home has been rejected by the real estate agents in the market.
You might be wondering “Why is my home not selling,” but real estate professionals have already moved on to the thousands of others homes available. The key to marketing a home that failed to sell is to make it “new” all over again.
This takes a lot of daily work to put the property in front of people who are ready to make a buying decision.
Selling A Home That Failed To Sell
So the race is on. Foreclosures are going to be rolling into the market heavily for several years. Banks must liquidate, thus they will be lowering prices to sell-out the inventory.
These offerings for buyers are in direct competition with anybody putting a home on the market, so the best thing to do is make a choice. Sell your home fast, or plan on waiting out the market for five or more years.
If you own a home that failed to sell during a recent marketing attempt, just drop me a note and we can schedule a time to help you review your specific situation and help you evaluate your options.