Colorado Springs Vintage Homes Blog

Why didn’t my home sell?

Colorado Springs Real Estate Tips — Why didn’t my home sell. 

For a Free Market Analysis on your Colorado Springs home, email Kathy Torline at KTorline@msn.com

Must read articles:

• A 12 point checklist to make sure your home shows well to Colorado Springs buyers
• Do you want your home in Colorado Springs to stand out from the competition?
• A tech savvy realtor can help sell your home

In Realtor “lingo”, homes that do not sell during the listing period are known as “expired”

In the Colorado Springs housing market, there are any number of factors which can be responsible for a home’s failure to sell.   And every one of those problems can be corrected one way or another.    The first one we are going to address is Price.  This is the “Biggie”.

PRICE     Listing your home at the right price is the most important decision in today’s market.    Essentially today’s buyers want a “deal”; and it’s currently a price war to get people in the door.  If the buyer’s (and Buyer’s Real Estate Agents), don’t perceive that a property is priced right, you won’t get any showings.    No showings, mean no offers.  It’s a simple equation.

Strategy:   Have a through Comparative Market Analysis (CMA) done by a Colorado Springs Realtor to ensure your home is priced right.    The analysis will take into consideration many things, including the sales prices of comparable homes that recently sold in your neighborhood within the last 3 to 6 months.   The CMA will also include the listing prices of similar homes currently on the market; as these homes are your competition on the market.  It may also include other Expired Listings, as these essentially homes that the market has rejected for one reason or another.

The analysis will include comparing the features and qualities of your home with those of other comparable homes.   There are many different programs Realtors use for these computations, but all of them add and subjtract from the baseline price according to the differences between the properties and your home.       As an example, If your house has a 2 car garage and the other properties have a 3-car garage, adjustments will be made.     If your house has 3 bathrooms and the other houses only have 2; adjustments will be made.

Typically adjustments can be computed to include square footage (main floor, upper floor, basement, and finished basement), bathrooms, air conditioning, garages, fireplaces and age of the property.  There are many other adjustments that can be made, but these are the typical adjustments.

Pricing is typically the number one reason that all homes, including Colorado Springs homes don’t sell and Expire.

Future articles will include information on condition,   amenities, and marketing.

Tags: CMA, Comparative Market Analysis, expired listing, why did my house sell

This entry was posted on Saturday, July 10th, 2010 at 9:00 am and is filed under For Sellers. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

1. Sid Fortune said at June 1st, 2011 at 4:23 am

   When I originally commented I clicked the “Notify me when new comments are added” checkbox and now each time a comment is added I get several emails with the same comment. Is there any way you can remove me from that service? Cheers!

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