Delays selling a home, what adds to the days on market that cause shelf life problems?
The seller has a role in what can stop the momentum to get to a quick, profitable real estate closing. The what wastes time in a real estate home sale topic has been given lots of press. But the house owner themselves have a major role in what delays the sale. Or worse yet keeps the listing from even hopping on the new inventory of what's for sale for homes in the MLS local area.
Most of us, me included would not have our homes up to snuff to just wander out front and step on a silent salesmen to start the process of announcing this place is for sale.
I know my home is not ready for the show and tell, come on in. That first impression is everything right? I would want to tackle the garage first because it is far from tip top tidy.
I would want to paint this ceiling in the cellar rec room that got a leak stain from the dishwasher problem last winter and to swamp out all the stuff the four kids left behind when they left the nest. Every room needs attention to tight it up. Make it ship shape. Garages especially are way way out of control after a Maine winter and neglect too. And no one wants an avalanche when closets are opened up and here comes lots of spilling cargo for all to see.
But beyond that personal list of what to do before put the place online and up for sale. In my travels of over 37 years of property listing, marketing and selling Maine real estate, I see the pattern. Of the Maine home seller who wants to not just detail the place and get it ready Freddy in A+ shape for property tours. They have projects that have been carried around in the gray matter for years that never got off the drawing board. But now that a house sale is contemplated, suddenly delays in getting the home on the real estate market are because of they renovations. That I try to explain are not all needed since a house sale is the plan Stan. But because the home owner has always wanted to do these improvements, they won't let go of them.
In our small rural housing market in Northern Maine, if the kitchen gets a new floor in the latest color trend is not the end of the World.
Because when you have a home in Maine selling for $30,000, $40,000 and $50,000 it is not that all important to be within on the color wheel that the public tends to be picking from today. Value is a good roof, a heating system that is not from the last century and space inside and outside is on the gotta have list of the pretty frugal house buyers in Maine.
The basics and keep the price down is more important than something that wows or has prestige value in a house selling in rural Maine. So when the seller talks about remodeling the kitchen on a $40,000 home. the hand goes up. Even if the house seller has always wanted to replace those 1972 wood look kitchen cabinets, don't because the return on the investment is not going to come back to the wallet like a boomerang. And if the house seller is losing money, and if the old kitchen looks better than the new one, why are we causing the delay to get the place on the market waiting for the carpenter or the DIY house owner to strap on the nail apron and reach for the crow bar?
Homes sell over the winter months in Maine and the snow fall time of the year is just one of the four seasons.
Real estate buyers make the purchase year round if the seller is geared to pack up and head out of the house. But it is critical for the marketing to have images with green grass kept mowed and blue skies with sunshine overhead to showcase the new to the market housing stock. Not snow banks, not lawns ravaged by Fisher plows or burned out grass that has not taken holt.
Those initial images and the subsequent ones added to the image array and incorporated in the real estate video for the house and all the acreage or lawns surrounding it need to be inviting.
More on marketing real estate in Maine and how this part of the country rock and rolls.
So back to the seller and how he or she hold up the house selling show. Beyond the delay and arguement to do renovations when only a few repair items are needed, the house seller can desire to have the home on the market in spring. But the reality is with all the other pressures of day to day living and household family schedule demands, it is often the first of July when the new to the market house for sale news is announced. And it is a crowded field because others do the same and if a house seller could take the advice of the REALTOR, the agent, broker summoned to handle the job, the to do list would be shorter. And the home for sale news would be released earlier ahead of the many who wish they could be at the beginning of the new pack of listings but that just don't show up at the starting gate on time.
Less homes on the real estate market in winter because sellers don't want to move or just figure the buyer's stay away until spring.
Again, this just in (teletype sound) real estate, homes and other property types sell year round. Because people have life's that run year round. Decisions to buy a lake camp are made over turkey dinner of the holidays. Families get together and decide it is time to sell dear old mom or dad, gram or gramps property that has been in limbo since they left the Earth.
The seller of a home, other buildings on land also can add to the tick tock waste of time in another way. After the place is listed, the buyer is located and the property is put under contract to sell, the appraiser if there is one often comes up with items that need fixing. The delay getting that broken railing, the peeling paint scraped and a new fresh coat applied all adds to the hurry up and wait.
Collectively the lawyer, the appraiser, the home inspector, the plumber or electrician or whoever is on deck to do their job.
If they don't or even if there is a slight delay, they all add up to make the real estate sale drag, stall. Can cause it to crash and burn if too long happens and the buyer pulls out or the egg timer buzzes loudly. When too late, moved on and let's start all over.
Sellers make mistakes selling a home. Listen to the real estate professional in drawing up the list of repairs that are worthwhile and that will give you the house seller a return that shows up on the bottom line of the HUD-1 closing settlement statement. The check being cut in your name as the house seller will be larger for a net profit and quicker to arrive if you do. The real estate closing wil happen sooner and you the property owner can move on with your life instead of the expensive delay that can impact what you do end up selling your place for in the final analysis.
The improvements you the home owner have always wanted to do might need to be shelved.
Let it go, and remember you the home owner are selling the place. The new home buyer might not be able to afford the jacked up price you the seller expect from the improvements. Make it clean, free of clutter and it better not smell. These are some of the tips for sellers thinking of selling the home they want to replace because it out grew or did not keep pace with the family size. Here to help with your real estate buying and selling in Northern Maine, and please reach out, connect with MOOERS REALTY.
MOOERS REALTY 69 North Street Houlton Maine 04730 USA