Your house isn’t selling? This may be why…

Home Selling AdviceYou may have heard multiple times already that there are three main reasons your house isn’t selling: either the price is too high, something is wrong with its appearance or condition, or it isn’t being marketed correctly.

Right now I want to talk about the first reason — your house is priced too high. This is a tough one because many sellers are afflicted with a case of “But My House Is Special Syndrome.” We know our home is special — in the same way that we know our child or beloved pet is special — so we feel our asking price should be equal, or maybe just a little above other houses in the area.

I was afflicted with “But My House is Special Syndrome” the first time I tried selling a home in a down market. I knew my home was especially special. It had an incredible view of the sunset, gorgeous greenery, a perfect layout, and a master bathroom that a queen would covet. My ultra-luxurious showerhead had something like 500 skin-tingling holes that delivered the best shower experience ever. Why wouldn’t someone pay a little more for a house with this degree of specialness?

The trouble is in a market where both home values and the number of home buyers are declining, the seller who offers the best price is going to win. That person’s home may also be special, but if they price it a little lower, they’re the ones who’ll be calling the moving vans.

It’s especially important to price your home attractively during the first few weeks it’s on the market. That’s when you’re going to get the most attention from interested buyers and agents. I just saw a house down the street from me sell in two weeks. You can bet the owners priced that house correctly from the start and didn’t give in to the “But My House Is Special Syndrome.”

So it’s up to you. Do you have the guts and ability to realize your house is special — but still lower the price to a point that’ll attract a buyer during this sluggish economy?

For timely advice on how to sell your house faster, easier and saner, read Home Seller’s Blues and How To Beat Them. Available in paperback and ebook formats from Amazon.com and at http://www.homesellersblues.com.

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