This list of reasons why your home hasn't sold did not come from some expensive government study or NAR report.  They just come from my acute observations and opinions as an agent working in the trenches here in the Ft Lauderdale area.  If you would like to share your own, feel free.

1. Its priced too high. This is an extremely price sensitive market we are in right now.  If you tacked on 10% for some wiggle room, chances are there will be 20 other properties suitable to a prospective buyer priced below you.  This means yours may not even get looked at.  No amount of advertising can overcome an inflated price.  Pricing is more art than science but if no one is even looking at your home then it is probably at least 10% higher than it should be.  If you are getting plenty of lookers but no offers, then you are likely still 5% higher then you should be.  You may think you are guarding yourself from lowball offers, but most buyers don't really have the stomach for that. They will just keep looking.

2. Poor market conditions.  Economics 101, supply versus demand is not working in your favor.  Inventories of homes available are sky high.  Here in South Florida only about 4% of the listed properties are sold each month.  There is a lot of talk about a possible recession.  It may or may not be true, but it certainly affects consumer confidence.  There is simply no sense of urgency among buyers.  Interest rates may be trending downward, but lending standards have tighened considerable reducing the available pool of buyers.

3. Its not being marketed correctly. If your property is priced correctly and still isn't selling then it likely isn't getting proper exposure.  A listing should be as detailed as possible, including room dimensions.  It should include plenty of pictures Unless it doesn't show well. In that case, less is more, (see No. 4). The Multiple Listing Service allows up to 16 pictures in this area and the listings with plenty of good photos get the most attention.

4. It doesn't show well.   Your home should be ready to show at all times.  Clean and clear of clutter. Anything you aren't going to use in the next few months should be put in storage.  It should smell good, bad odors are an instant turn off.  It should be well lit.  Curtains opened, storm shutters up.  Buyers usually decide within the first 30 to 60 seconds if they are interested in a property.  A first good impresson is crucial.  If your home is badly outdated, price it to sell.  Remodeling won't provide an equal return in dollars spent.

5. You are not properly motivated.    Everyone has a different motivation.  Some need to sell because of a life change and some just want to sell for a change of scenery.  If your attitude is "I will sell if I'm lucky enough to find a buyer at such a price", the odds are heavily against you.  It takes some grit to be a seller of real estate these days. It shouldn't be taken casually.  Keep in mind that after you sell your current home, your new home will be bought under the same market conditions.  If you are waiting for the prices to come back, whatever you plan to buy next will also have gone up in price.

Tom Day, ReMax in Motion

www.TomDayProperties.com