The longer a home sits on the market, of course, the more likely its asking price will be reduced ... and reduced ... and reduced again until finally, the seller is so anxious to unload the house that any offer will do. In today's relatively healthy economy in which there certainly isn't a shortage of prospective buyers in most areas, why do some homes simply sit on the market while others are quickly snapped up?

Pricing

If buyers and agents aren't responding, if offers are far below what you're asking or the home has remained on the market far longer than like properties, then it's time to re-examine the listing price

There may have been a time when homes could be overpriced and owners might still make a sale. Forget it, those days are simply gone. Purchasers now have buyer brokers who know the market, and the Internet makes it tough to be anything but an informed buyer. As a result, purchasers who do their homework have little reason to be shy about making an offer with what they regard as a more realistic price.

Condition

The condition in which a home has been maintained directly effects marketability and pricing. Buyers -- regardless of whatever restoration fantasies they might harbor -- quickly return to reality when they realize that they don't have the time, skills or money to embark on a major rehab job.

But "poor condition" does not necessarily describe homes in need of a major overhaul. Minor things can also set off buyer jitters -- a touch of peeling paint, dirty carpets, a drippy faucet. None of these items is a big matter individually, but they do make buyers wonder if bigger problems lurk unseen.

The bottom line: Clean and fix-up a home before placing it on the market to speed the sale and reduce buyer anxieties -- clean windows, a swept curb and a fresh coat of paint here and there can do the trick.

Location

Real estate is all about location, and some locations are clearly better than others. Since you can't move your home in the usual situation, the alternative is to improve what you have. For instance, if you live on a busy street, perhaps hedges or an ivy-covered trellis can be used to absorb noise and obstruct unwanted views.

Access

You want to make matters as easy as possible for buyers. A lock box on the door allows agents to schedule appointments at the convenience of their clients. Owners, pets and children should be away when open houses and viewings are scheduled.

Imperfections

The fact that a home has minor drawbacks should not be surprising. There are no houses which are perfect for everyone, but there are houses that work wonderfully well for specific buyers.

Reality

There is one surprising reason why a home may not sell -- all homes are unique. It sometimes happens that a home remains unsold not because it has some flaw or because of poor marketing, but because in the universe of possible buyers not one is ready to quickly purchase a particular property. The odds are against it, good marketing should make such things difficult but it does happen.

What to do? Keep on selling.

There are buyers out there, the trick is show the value in your home. That's most likely to happen when your house is prepared in advance, its pricing reflects marketplace realities, and the marketing plan is designed to reach the largest number of prospective buyers.

Written by Courtney Ronan
May 18, 2001