Are you trying to sell your Tulsa house but not getting anywhere? It could have to do with the house, or it could have to do with the economic conditions — there are a lot of factors you should consider. Here are some of the top reasons why a house just won’t sell.
1. Your House Isn’t Priced Right
The reason most houses don’t sell is that they aren’t priced right. If your house is appraised at $140,000 and you’re trying to sell it for $160,000, it’s not likely that someone will jump at the asking price.
Often, buyers try to price their house not at what it’s worth, but at what they want to recover from it. If you purchased your home for $140,000 and put $20,000 worth of labor into it, you’ll want $160,000. But that isn’t how it works. The market is what sets the price.
But that’s also why most homeowners shouldn’t put work into their property just to sell it. It might cost you $20,000 to make repairs that only elevate the value of your house by $10,000. Instead, it’s better to leave it to the professionals.
2. Your Neighborhood is Holding You Back
It’s hard to sell a house in a market that’s down. If your home is $200,000 and your neighbor’s house is $150,000, you have a long road ahead of you. Most buyers don’t want to buy the most expensive house in a neighborhood because its value will be pulled down by the other homes in the area. This is also why you want to avoid overbuilding in less-expensive neighborhoods.
Apart from that, you could find that people don’t want to buy because your neighboring houses are in disarray. Unless you have a homeowner’s association, there’s little you can do about that. The only thing you can do is try to find a cash buyer who can overlook temporary issues such as bad neighbors.
3. Your House is in Disrepair
Your house might be perfectly serviceable to you, but potential buyers might see numerous dealbreakers. If your house looks dated — like it’s the same as it was in the ’80s — it might turn buyers off.
Most buyers want homes that have been newly remodeled. When they see older homes, they worry about all the things that could be wrong with it. And if you don’t want to invest a lot in repairs and updates for your property, your property just isn’t going to move.
4. The Economy is Bad
This is always going to be a big one. There are times when it’s simply not wise to buy a home, and you’re going to see buyers leaving the market. While other properties may be moving, properties that aren’t the absolute best are going to get skipped over.
When the market conditions are bad, there may be very little you can do to sell your home. You’re going to have to figure something else out. That’s where a cash home buyer can come in. Cash buyers will purchase even in down markets because they’re strategizing long term. They’re able to hold onto properties until the property can be sold because they have a lot of capital.
How a Cash Home Buyer Can Help You Sell Your Home
If you’re having difficulties selling your home, don’t despair. A cash home buyer can help. Cash home buyers purchase properties that need repairs or updates for fair market value. You don’t need to invest more money into your home. You don’t have to wait around for a mortgage loan to close. You just get to sell your home and walk away free and clear.
Cash home buyers can purchase homes that need repairs and renovations because they have a team that can do these renovations themselves. They’re able to perform these renovations more efficiently than the average person, which means they can also purchase your home for a fair amount.
Want to see what a cash home buyer can do for you? Contact us today at We Buy Houses Tulsa to find out more.