You’re trying to sell a Central Mississippi MS house that just won’t sell?
And yet – the news says the real estate market is heating up. The media is practically shouting again about multiple offers, high demand, and record-setting prices. What they are not saying is what areas, price ranges, and other important facts exist where multiple offers are still being received.
So, where’s your contract? What is the answer to securing a buyer? Overpriced properties are lingering, but rising interest rates are also pushing would be buyers into less than desirable properties. Many of those are waiting for the price to drop.
These tips could be just what you need to help you sell your Central Mississippi home.
Why won’t my house sell in Central Mississippi? – 6 Tips To Cure It
1) Get good help – Experience and Knowledge are Important.
Novice agents and investors are rushing into the booming market trumpeting that they know what they’re doing. Is your agent knowledgeable about creative deal structures? Are they asking you about your current mortgage? Is that mortgage assumable? Don’t worry, if a buyer assumes your mortgage, they must qualify for that mortgage and it removes liability from you if there is a future default, in most cases. Many FHA and VA loans are assumable, but in the case of the VA loan, the veteran needs to be sure their eligibility is released or won’t be impacted if a non-VA buyer assumes it and goes into default.
But they don’t. They’re getting hit hard with the nuances of financing, deal structure, and evaluation. Seriously, chances are good that real estate is your biggest investment – don’t trust just anyone’s advice. If you want great results, partner with the pros. An often-overlooked option could be an assumption of your loan, and low interest rate, or other creative deal structures to bring reluctant buyers to your door. For sound information from a seasoned professional, visit our owner/partner’s retail site at https://www.metrojacksonhomes.com
2) Don’t make too many improvements.
We have cut back on improvements for properties we rehab and resale. Our goal is to keep the home affordable, even with the rising interest rates. Too often we see over-improved properties – those where the owners have gone too far. Even with the best of intentions, exceptional craftsmanship and true artistic talent, it’s incredibly challenging to not exceed what the market is paying. Plus, most buyers want to add their own custom touches. Get rid of all the clutter and think “neutral”. We see buyers close and change out improvements the seller just made. Sometimes those improvements were needed but watch how much you spend. When you hear from a former neighbor that all that new flooring you had installed is out for trash, it will make your head ache, but they wouldn’t even make an offer when you had that old roll vinyl or cracked tile. I have seen this too many times. We’ve even offered to remove the flooring after closing for them, at our expense to use it on another project, which saves us money.
3) Do make necessary improvements and repairs
Unfixed stuff scares buyers. Show that you’ve been a responsible property owner and get all the little details fixed. Consider having your heating and cooling systems serviced and have the documentation available for buyers to review. A dirty air filter or dust covered air return just screams “deferred maintenance” and will cause a home inspector to talk about shortening the life of the system. Make sure your outside a/c unit can breathe – landscaping growing all around restricts air flow, causes the unit to work harder, both of which shorten the life. Also, most home warranties will deny a claim if the unit can’t breathe and is poorly maintained.
Don’t leave gaps in the trim or plates off the switches. Caulk those gaps and if significant, an engineer’s inspection might be in order (don’t hide problems). Also plates for switches and outlets are inexpensive and easily added or swapped out if broken. Head to your favorite Hardware Store for a few supplies. Get it inspected by a professional home inspector and show off the healthy home report and receipts for any repairs made. This goes a long way towards establishing confidence that they’re making a good purchase. Be sure to disclose any repairs that could lead a buyer to think later you were trying to hide something.
4) Style and design matters.
Curb appeal is as important as the inside – so don’t neglect one part of the property to improve the other. Have a lawn service spruce up your landscaping with freshly trimmed hedges and pine straw or mulch. Give buyers a cohesive impression of great style. Paint or pressure wash the trim outside and most of all – keep it immaculately clean. Consider hiring a professional designer to help tastefully stage the property. Many buyers make their decision before they get out of the car! Most industry professionals will tell you over 50% of the buyer’s first impression is with the curb appeal. While you are at, consider a fresh coat of paint If it is not appealing with fresh landscaping and maintained lawn, they walk through wondering what else has not been maintained.
5) Pricing matters a lot.
If you’re getting a lot of showings but not a lot of offers, you might not be too far off in price. If your best efforts to advertise your property aren’t making the phone ring, you’re probably overpriced.
6) Every property will sell – sometime.
There’s no magic formula – but there’s no substitute for experience. Whether you are working together with an agent, or selling to an investor, experience and reputation of the people you partner with is more important than ever in this market.
****************
If you need to sell a house near Central Mississippi, we can help you. We buy Central Mississippi MS houses.
We buy properties like yours from people who need to sell fast. Owner/Partner is a licensed agent and can discuss listing opportunities as well.