In our last post we discussed at length why many areas
actually have a shortage of homes for sale, how available inventory is low and
why some buyers can’t seem to find a home that fits them. If your home has been
on the market for a period of time you’re probably reading that either
frustrated or in disbelief. After posting on how we have a shortage of great
homes for sale, we couldn’t let time go by without addressing the obvious other
side of that. Why hasn’t my home sold yet?
The simple, honest answer is that if your home has been
for sale for some period, had showings and hasn’t sold, either in price or
amenity level it simply hasn’t met the demands of the market. I know we don’t want to hear that but that’s
exactly what it comes down to.
A couple of years ago when we were in the trough of the
recession, there were a lot of homes that were not going to sell no matter WHAT
the price. There just wasn’t a market regardless of what some homeowners were
asking for their properties. Those days are behind us. There are active buyers
all over the place although it is true the some price points are busier than
others. In the world we live in today, there’s a buyer for about every home.
There are a few homes that are still requiring steep discounts because the numbers
of buyers are small such as in the ultra high end market. But today, even they
can sell if the price is right.
In the end, this is all
still just 10th grade economics. The market is the market. When a
home is priced where it actually draws a written offer from a prospective
buyer, that’s the tipping point to a sale. Not $20,000 higher or $13,000 lower.
Buyers determine what they want to pay for homes. Sellers don’t want to accept
those numbers in some cases but that doesn’t mean they’re going to the closing
table either. So this gets us back to the original discussion. We DO in fact
have a supply shortage of homes that precisely meet the demands of the market.
Homes that aren’t selling simply haven’t found their market which is always
determined by price. While that's not popular....it is today's market reality. greg cooper, east carmel indiana homes for sale, east carmel indiana neighborhoods 46033, top selling carmel indiana realtor broker agent
