When anyone lists their Long Island home on the market, the hope is that they will have an interested buyer as soon as possible. However, what many people find is that their home sits on the market for a very long time. So long in fact, that they wonder if this will ever sell.
To combat this, the sellers often look at what is selling in their area, they price their home lower thinking that a lower price is going to entice buyers, they may work with a stager, they may even make small repairs throughout the home in hopes of attracting a buyer that wants their home. However, no matter how much time they spend researching and the money they sink into the home to make it more appealing to buyers, their home still sits on the market.
Has your home sat on the market for several months now with no one interested? In these cases, it may seem like you are doing something wrong if your home won’t sell. However, in most cases, there is an easy answer as to why the home isn’t selling that you can correct!
Why Your Long Island Home Won’t Sell
Has your home set on the market for several months now with no one interested? In these cases, it may seem like you are doing something wrong if your home won’t sell. However, in most cases, there is an easy answer as to why the home isn’t selling that you can correct!
Poor Pricing
How is your home priced? If you are pricing this too high for the area, then people are going to look elsewhere. Many people often price their home based on what they need to get out of the home rather than the actual value of this home. Other times, they are putting a high sticker price on the home for sentimental purposes. So, how can you correct this?
Look at the area that your home is in and see what similar homes have gone for. In addition, know the actual value of the property, not the perceived value. Let an appraiser come out and give you a number to work off of. When you price the home right, you will get people interested since they are going to realize that this is a fair deal.
Poor Showing
How does your home look when people come into it to see if they are interested? Too many times, a sale doesn’t happen because people see clutter which can make a home look smaller. In addition, if the curb appeal isn’t there, most people are not going to do anything other than click past the picture they find online.
You need to take some time decluttering the home, maybe even spruce up the paint a bit, and ensure that the front of the home looks great. The little time that you put into this can pay off big in the long run.
Poor Market
In the situation in which the housing market is just poor…there may be nothing that you can do in order to sell your Long Island home. There is nothing to blame as the market conditions are simply bad. When this is the case, you may find that pulling your home from the market and waiting until it comes back up may be the best option.
Other people look at alternative ways in which they can sell their home if they need to do this as soon as possible. One alternative is going through a real estate investor. A real estate investor is going to buy homes and give you cash within a few days if you are acceptable to the offer they make. It can be a great way to sell your home when you have had months of this not selling!
What Can You Do to Sell Your Long Island Home?
Before you decide on a course of action that is going to help get your home sold, you need to figure out your reason behind selling in the first place. For example, there are those who are upsizing or downsizing. If there is no real urgency to move, then chances are you could wait for a few months and try again. It could be that the market just isn’t where it needs to be in order to get your home sold.
Wait it out
For those who are moving and need to do so urgently due to a new job, you do have the option of renting this home on the rental market. You may not be able to rent this home high enough to cover the entire mortgage and tax amount. However, with extremely high taxes on Long Island, it is typically a challenge to cover these costs with most properties. Also, keep in mind this also means that you would be a landlord and essentially are handling upkeep on two homes at once.
If you want to sell your home for financial reasons, you may want to consider refinancing your home to make the payments more affordable if this is the only reason that you are considering selling your home. For those who are in the situation in which repairs are needed but financially you can’t do this, you could also consider taking a second mortgage on the home to help with these much-needed repairs.
Sell Your Home As Is
Another option for those who just want the cash for their home and to get away is to sell this home to a real estate investor. Those professionals that buy homes ‘as is’ is a great option for those who do not want to make repairs to their home or wait for someone to finally become interested in buying their home. For those who are in this situation in which their home does need repairs before it starts to be enticing, then this is a great option that can save you money in the long run.
For those who are in the situation in which their home simply will not sell on the market, for whatever reason, then selling your home ‘as is’ to a real estate investor may be the fastest option that you have. This is going to be a process that is much faster than letting the home sit on the market until the market gets good or until you find the money to make repairs that are needed.
A real estate investor is going to take your home as is, and give you a sum that is worthy of the home in its current condition. You can get this entire process done within a few days. It is very appealing to those who are trying to sell their home but have yet to find someone interested.
Are You Ready to Sell?
If you are tired of waiting for a potential buyer for your home, or maybe you are in a situation in which you need to sell as fast as possible, then a real estate investor is your best option. Feel free to reach out to us for a no-risk quote!