Why Your House May Not Be Selling

Sibbach Team For Sale signHas your home been on the market for a while now and it seems like no one is coming for it? If this is a situation you find yourself in, the first step is to identify what may be reason.  Many agents ask for feedback from prospective buyers to address anything that may be turning the buyers away from submitting offers.

I’ve been in real estate for over 20 years now and these are some of the common reasons why your house might be still on the market.

Listing Price

This is actually a no-brainer.  In order to sell your house, and in good time, you need to price it appropriately. Inflating the cost of a house will do the owner no good, it will only elongate the time the house will be in the market which makes it even more difficult to sell.  When pricing your house, your agent should make comparisons with similar houses in your neighborhood which were sold and consider the upgrades in your home.  Of course, demand and market conditions also influence the listing price.

Poor Marketing Images

Today, most prospective home buyers begin their search on the internet and make their selections based   on their search criteria and the photos of the houses listed.  Bad or insufficient photographs are a good way of driving away prospective buyers. A good first impression of your house starts on the internet: professional photography of a clean home is where it starts.

You haven’t advertised the house well enough

Similar to the previous reason, inadequate advertising or marketing for your house limits the number of people who can make an offer. These days, it isn’t enough for and agent to market the property locally. Your home should be advertised offline and online via social media and other real estate websites such as zillow.com and realtor.com.  You want to reach out to home buyers and buyer agents equally.

The house is not in good shape

The condition of your house is a good pointer to how quickly it is going to sell, or not.  A prospective buyer given the choice between a house with working appliances, good furniture and decorations, and another house with outdated features and old appliances will surely go for the former. The reason is not far-fetched as you wouldn’t want to spend so much on renovations and repairs after equally spending so much on purchasing the house.  Buyer love move in ready homes.

You have the wrong agent

Unfortunately, the agent might be the reason your home is not selling.  It is not uncommon for homeowners to enlist their friends or a member of their family as their agents.  This isn’t bad per se, but failing to do your due diligence by carrying out a proper interview means that you are just banking on luck and not expertise. Take your time to interview your agent.  Here are three questions to ask your realtor:

  • How much do you charge?
  • How long will it take my house to sell?
  • How do you market your properties?
  • When is the best time to sell?
  • How many homes have you sold in my neighborhood?
  • Why should I choose you?

I am joined Sibbach Team with Realty ONE Group- the Top 1% in Sales in Maricopa County!  I offer innovative and effective marketing strategies to sell homes for top dollar. The key to success in this market is to stay educated and keep on top of the market trends. With my team of professionals we can help you to make an informed decision…whether buying or selling,  Contact me, I am here to help you!

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Mortgage 101

Home PricesBefore settling on a particular type of mortgage, it is important that you do your due diligence by getting to know the different types of mortgage and their individual advantages. Your lender will typically evaluate your particular needs and financial situation and advise you on what type of mortage is best suited for you.

What is a mortgage?

A mortgage is simply the conveyance or transfer of an interest in a particular fixed property with the intent of using the property as a security for the repayment of a loan. That being said, there are six types of mortgages as will be briefly discussed here.

1. Simple Mortgage

This type of mortgage involves the express or implied binding of the mortgagor/mortgager to the repayment of a loan. This means that the mortgagor has transferred the right of sale of his property to the mortgagee in the event of failing to repay. Although the mortgagee has the right to sell the property, he cannot until after getting a court decree permitting him to do so.

2. Mortgage by Conditional Sale

This type of mortgage refers to a situation where the mortgagor apparently sells the property based on certain conditions. The conditions for sale of the mortgaged property are:

 That on such a payment being made, then the sale cannot be valid, or

 That on default of the payment on the agreed date, the sale becomes absolute, or

 That on such payment being made the person who buys the property shall transfer the property to the seller.

3. English Mortgage

There are three major features of this type of mortgage, which are:

 The mortgagor makes a personal promise to repay the loan on a specific date.

 There is an absolute transference of the mortgaged property to the mortgagee. This also gives the mortgagee the right to sell the property without a court decree.

 The mortgaged property can only be re-transferred when the mortgagor has completely repaid the money on the agreed date.

4. Mortgage based on usufruct

Also called usufructuary mortgage, this type of mortgage is based on usufruct, which is a legal right that allows a person to receive profits from a property owned by someone else. Usufructuary mortgage compels the mortgager to deliver the property as well as giving the mortgage the following rights:

 The right to hold on to the property until repayment is done.

 The right to get part, or the total rent profit from the property.

 The right to receive the rent profits in the place of the interest or the loan or the both.

 The right to incur any liabilities during the course of ownership

5. Mortgage by deposit of title deeds

Sometimes referred to as “equitable mortgage,” this type of mortgage is common with banks as it does not require any registration. It simply involves the transfer of property title deeds by the mortgagor to the mortgagee as a form of security for a loan.

6. Anomalous mortgage

This refers to any mortgage which does not conform to the definition of any of the other types of mortgage. Example of anomalous mortgage is the kind which results from the combination of two or more types of the other mortgage types.

If you are looking to buy a home, I can recommended an experienced trusted lender who will work diligently to help you find a mortgage that meets your needs.

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