Question: “Why is a home not selling?”
Chris’s Answer:
Here are 6 common reasons why a property is not selling on St. Croix:
- It’s in a problematic spot. As they say, in real estate it’s all about location. Tough locations aren’t always a reflection of the neighborhood. If your home backs up to the highway, lies directly in the flight path for the airport, or faces a street which feels bustling, Buyers may hesitate. If you can’t change a less-desirable element of your location, work with it. Try to turn it into something positive, or deal with it in pricing. Use landscaping to block an undesirable view or muffle noise, reframe an oil refinery overlook as “evening lights,” and highlight a busy street as a convenient way to get around island.
- It’s dirty or cluttered. We recommend making your home as clean and impersonal as possible, at least for the photos. Repaint, pack up your extensive assortment of travel souvenirs, and remove litter boxes and pets before your showings. The Buyers need to visualize themselves living in the home with their own belongings.
- It needs maintenance. When Buyers see deferred maintenance or a house unkept, they begin to worry about the things in the home they can’t see. It makes a bad first impression. It doesn’t have to be perfect. Do whatever maintenance you can. Repairs will show up in the property inspection, but this is about first impressions.
- Poor curb appeal. The way your home looks when potential Buyers arrive or drive by is important. The first time the Buyer sees the home, they begin passing judgment. A fresh coat of paint on the door, welcoming pots of flowers, and maintained landscaping are simple fixes which go a long way and help the Buyer feel interested.
- An unattractive or inaccurate listing. The description and details of the property need to be accurate, any documents included, and the property should be mapped correctly so that people can find it. Photos should be thoughtful, well-lit, and properly-framed images and videos which show your home or condo at its best. High quality photos and videos matter, and the order of the photos is very important. If there is a view, this should be featured in the first 3 photos.
- The price is too high. Some sellers do not realize how valuable initial pricing is. Besides the main photo, it’s the first impression of a listing. Sometimes Sellers have a belief that their home is worth more than the market will support. We provide current market analysis to assist with initial pricing. Feedback from showings and the number of showings are helpful in determining whether the price should be lower.
Contact us with any questions about real estate on St. Croix!
First published on our March 2024 Newsletter