There is a buzz in the Lexington area air. The real estate market in Lexington and Rockbridge County has improved and seems as though it is on a road to recovery. However, the improvement in the area real estate market is not treating all those home sellers equally. Some well price homes in prime Lexington locations are selling much more quickly. In other neighborhoods it is still taking months to sell.
There are several important factors that could be keeping your home from realizing a sale. The list price, the condition of your property or the lack of broad market exposure are probably major factors.
Buyers today just do not overpay. They need to be convinced that the asking price is a very close representation of fair market value. While the worst recession in modern time is in our rearview mirror it is still fresh in buyer’s minds. Many buyers think that now is a good time to buy a home, but they are not likely to even make an offer on an overpriced listing.
Clues that your home is overpriced include few to no showings or buyers look at your house but always purchase other homes. A home seller needs to pay attention to buyer feedback. False expectations will get you nowhere.
When you are selling your home make sure your agent always follows up showings with the buyer’s feedback. It is also important that you are getting the proper internet exposure. Most importantly make sure you are pricing the home correctly.