Home Hasn’t Sold

If your home hasn’t sold, you should check the price. We’re in the middle of a very hot real estate market. As a result, homes are selling quickly and getting good prices.

Is It Priced Right?

Demand is remain strong and many real estate professionals are reporting they are having bidding wars with many of their listings. In Monmouth County, there’s only a 90 day supply of condos or townhouses available at the current consumption rate . This means, in English, there aren’t enough homes for sale to allow everyone who wants to buy one, find one. In addition, many homes are also selling either at or above the asking price.

A possible reason why your home hasn’t sold is the condition. Is it clean, neat and odor free? Does it need fresh paint or new flooring? What’s the kitchen like? These are all reason why your home hasn’t sold. Can you correct these issues? However, if you can’t, or simply don’t want to, a pricing adjustment can solve that issue. For the right price, buyers will overlook any defect.

Old Appliances or Systems

Are you appliances near the end of their life span? Is the HVAC system and the hot water heater also near the end of their useful life? These are big ticket items and expensive to replace. We’ve been successful in overcoming these issues in the past by offering a home warranty. You, the seller, purchase the warranty. The warranty is a service contract on the above items. If any if these item cease to work within one year, the new owner will make a call, pay a small co-pay, and the service company will either fix or repair. And you can pay for the warranty from the proceeds at closing.

Bottom Line

If your home hasn’t sold, you may need to adjust your price. Even though the market is hot, buyers will not pay drastically over the market price. So if your home is still on the market  and you’re not receiving any offers, think seriously about reducing the price.

When you’re ready to either buy or sell a home, please contact us.

We have a site that tells about active adult communities in Freehold. If interested, look at Riviera at Freehold, Enclave, Regency at Freehold or Silvermead .

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