Are you in this situation and have you ever asked yourself this question? I will tell you right up front, if you are selling your Newport Beach home for sale, price it correctly in order to sell it. It is not the time to “test” the market. Buyers are looking for a “deal” period! If your home for sale is not a deal (meaning fair market value), then you may want to wait for a different market to sell it.
However, if you are serious about wanting to sell your Newport Beach home for sale, you need to look at the reasons as to why your home has accumulated days on market.
- What is the condition of the home? Is it dated? Does it have deferred maintenance? A huge recommendation is to maintain the systems in your home (plumbing, electrical, HVAC, etc). If you think by deferring maintenance will save you money in the long run – it won’t! A buyer will perform a “home inspection” and deferred maintenance items will show up.
- What is the curb appeal like and general appearance? When a buyer walks in the door, do they see a project (and if so – is it priced accordingly) or do they see work that needs to be done. Many buyers cannot get past “too much work” and they often think that with a project – one project leads to another which translates into “more money” which can be overwhelming.
- Has your home been updated? Does it have wallpaper which is outdated? Take it down, and clean and light and bright is preferred and appeals to the masses.
So back to my original comment. . . your home has too many days on market. Why? Is it the condition as discussed above, is it the price???
Price your home to sell in the market that it is in now, and if you are above the market, I would recommend having your agent perform in depth analysis of the comparable sales to determine fair market value. Additionally, it is important to take into account that distressed properties (including REO sales and short sales) those are still comparable sales.
I would recommend consulting with your Realtor to make sure that your home presents itself in the best possible light, and that it is priced accordingly with the current market conditions