Why some homes don't sell in a good housing market

Why some homes don't sell in a good housing market


KNOXVILLE (WATE) - Are you getting ready to sell your home or maybe contemplating the idea?

Certified Financial Planner John Fawaz says even when the market is good it's easy to overprice your home.

A price that's unrealistic will keep the for sale sign in your yard longer than you hoped. As a matter of fact, overpricing is the most common reason properties don't sell.

You need to look at the market to help dictate where you price your home.

The second reason homes don't sell is not using a realtor..

Fawaz says it's easier to sell on your own when the market is hot, but using a realtor is still your best bet.

"A lot of people like to do it on their own because they want to save that three to six percent commission," Fawaz said, "but I think in the long run it ends up costing you a lot more and a lot of aggravation. A good realtor will bring a wealth of resources and help you maximize the opportunity to sell your home. " 

Fawaz says something else to think about is the size of your home. The bigger and more expensive it is, obviously, the harder it is to sell.

The reason is mainly because there is a smaller pool of people that can afford larger homes.

Once you venture into the jumbo rate mortgages, Fawaz says, selling your home can be difficult.

If you have a questions for John Fawaz. Good Morning Tennessee will get it answered. Just send it using our contact page.

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