Struggling To Sell Your House? Read This. | North Scottsdale Real Estate & Luxury Homes | Team Picarello

Struggling To Sell Your House? Read This.

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When you sell your house, ideally, you want it to go something like this: your house sells for top dollar, you get it sold quickly, and it all goes down without a hitch.

But what many people don’t realize is that even in today’s market where there are more buyers than homes for sale, there are still things that can cause delays or even keep a house from selling. According to Zillow, in 2024, as many as 1 in 3 sellers took their home off the market before it ultimately sold.

And while the reasons those houses didn’t sell are going to vary, there are some general themes that come through. If you’re having trouble getting your house sold, here are the top three hurdles that could be getting in the way, and how an expert agent can help you solve these issues.

1. Priced Too High

It’s no surprise that price plays a major role when you sell. And in today’s market, overpricing a home in a high-mortgage rate environment is the biggest thing keeping homes on the market longer than the norm. As. U.S. News Real Estate says:

“Talk to any real estate expert, and the first thing they’ll tell you is that a house is selling slowly because the price is too high.”

While it’s tempting to push the price higher to get more for your home, overpricing can really turn away potential buyers. It can also make your house sit on the market for far too long. And the longer it sits, the more skeptical buyers will be that there’s something wrong, even if there isn’t.

Not to mention, buyers today have so many tools and resources to view homes in your area and compare prices. So, if your house is priced too high, you’ll risk driving away potential offers.

To find out if this is happening with your listing, talk to your agent about what they’re hearing at open houses and showings. If the feedback is consistent, it may be time to re-evaluate your asking price. 

2. Not Freshened Up Before Listing

You only get one chance to make a great first impression on a buyer. That’s why sprucing up your house can be the difference between it selling or sitting.

First, take into account your home’s curb appeal. There may be easy ways you can clean up the landscaping to make it tidy, inviting, and really make an impact. As an article from Realtor.com notes:

” . . . for better or worse, buyers do tend to judge a book by its cover. You want to make sure potential buyers’ first impression of your home is a good one—and inspires them to stop by the open house or schedule a tour—so they can see more.”

But don’t stop at the front door. Small touches like removing personal items, reducing clutter, and cleaning the floors give buyers more freedom to picture themselves in the home. And inexpensive upgrades like a fresh coat of paint or updated listing photos to match the current season can go a long way with that wow factor.

When in doubt, lean on your real estate agent for expert advice and whether you need a new game plan to close the deal.

3. Limited Access

Another big mistake you can make as a seller is limiting the days and times that buyers can view your house. Because at the end of the day, if buyers can’t take a look around, your chances of selling decline — drastically.

And here’s something else to consider. No matter what type of market you’re dealing with, buyers from outside the area are often highly motivated, but they don’t have as much flexibility or time as those who are local. So, give your house the best visibility by making it available as much as possible.

Bottom Line

You deserve to check selling your house off your list of goals this year. So, if your house isn’t getting enough attention or your listing is getting stale, don’t be afraid to ask your trusted real estate agent how you can revamp your approach.

What Will It Take for Prices To Come Down? | North Scottsdale Real Estate & Luxury Homes | Team Picarello

What Will It Take for Prices To Come Down?

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You may be wondering if home prices are going to crash. And believe it or not, some people might even be hoping this happens so they can finally purchase a more affordable home. But experts agree that’s not what’s in the cards – and here’s why.

There are more people who want to buy a home than there are homes available to purchase. That’s what drives prices up.

Let’s break that down and explore why, nationally, home prices aren’t going to be coming down anytime soon.

Prices Depend on Supply and Demand

The housing market works like any other market – when demand is high and supply is low, prices rise.

According to the latest estimates, the U.S. is facing a housing shortfall of several million homes. That means there are far more people looking to buy (demand) than there are homes for sale (supply). That mismatch is the key reason why prices won’t fall at the national level. As David Childers, President of Keeping Current Matters (KCM), puts it:

“The main driving force on pricing is the limited amount of inventory in most markets across the country. That issue is not going to be solved overnight or in the next twelve months.”

How Did We Get Here?

For over 15 years, homebuilders haven’t been building enough homes to keep up with buyer demand. After the 2008 housing crisis, homebuilding slowed significantly, and it’s only recently started to recover (see graph below):

a graph of a number of yearsEven with new construction on the rise over the past few years, builders are playing catch-up. And according to AmericanProgress.org, they’re still not even keeping up with today’s demand, let alone making up for years of underbuilding.

And as long as there’s a housing shortage, home prices will remain steady or increase in most areas.

What About Next Year?

The majority of experts agree prices will keep rising next year, but at a much slower, healthier pace (see graph below):

a graph of green barsBut it’s important to note home prices vary by market. What happens nationally might not reflect exactly what’s happening in your area. If your local market has more inventory available, prices could grow more slowly or even decline slightly. But in areas where inventory remains tight, prices will keep climbing – and that’s what’s happening throughout most of the country. That’s why it’s crucial to work with a local real estate expert who understands your market and can explain what’s going on where you live.

Bottom Line

If you’re wondering what it’ll take for prices to come down, it all goes back to supply and demand. With inventory still limited in most markets, prices are likely to remain steady or rise.

To see what’s happening with home prices where we live, let’s connect. That way you’ll have help understanding our market and making a plan that works for you.