10 Reasons Why Your Home Isn’t Selling

St. Louis and St. Charles County homeowners listing a home for sale have a common goal – getting their home sold as fast as possible, for the most amount of money. But  what if you have a home for sale in a neighborhood that has historically attracted buyers and it isn’t selling? This frustrating situation can come up for several reasons. We’ve listed ten possible reasons your home isn’t selling along with the remedies below.

1. Overvaluing the Property 
Overprice homes simply do not garner the attention or offers that competitively priced homes receive. Look at recent sales of other homes that are similar to yours in your area to get a better idea of its true value. Experienced Realtors will provide you with a competitive market analysis to help you determine an accurate price for your home. Another mistake is tacking on the cost of any renovations made to the home. Not all renovations translate to added value.

2. Poor Listing Marketing 
One of the top reasons homeowners give for hiring a Realtor is for their home marketing expertise. It is important that your listing description is well written and includes multiple high quality images of the home. Buyers will often skip over listings with poor descriptions and few to no images. Work with your Realtor to create a listing that attracts the attention of buyers and highlights the unique features of your home. Be sure to include multiple high quality photos of both the interior and exterior of your home.
 

3. Being Present at Showings 
While you want to protect your home during the sale process, being present at the home showings can make the sale more difficult. Depend on your Realtor to handle home showings. Know that there are systems in place to track all who enter your home. But mainly, buyers don't want to have the seller lurking over their shoulder during showings or at an open house. They want to be able to discuss the home freely with their agent without unwanted pressure that could make them uncomfortable or chase them away.

4. Being too Attached 
When an offer does come in, if you find yourself unwilling to negotiate even a penny off the sales price, it’s likely you've become too attached to your home. Remember, while you are trying to get the most money for your home, the buyer is trying to spend the least money on the purchase. If you’re not willing to negotiate, you are going to have a lot of difficulties coming to an agreement with a potential buyer. Proper pricing (#1) also minimizes the need for extensive negotiating.

5. It’s too Cluttered/Not Professionally Cleaned 
A cluttered, dirty house will leave a bad impression on potential homebuyers. Even if your home is clean, clutter can make it appear dirty. Consider renting storage or at least boxing up extra items and putting them away to ensure a tidy and clean-looking home. Also consider hiring professional cleaners for windows, carpets and other areas. Check out our cleaning and home prep tips here. 

6. It’s Not Staged
If you've already moved out of your home the empty rooms make it difficult for buyers to imagine living in them. Stage your house with furniture and decor that gives buyers a better idea of how big every room is and how it can be used. This way you make buyers feel more at home when they are taking a tour. Get tips on staging a home here.

7. Too Many Personal Items 
Homebuyers touring your home like to imagine what it would be like if they lived there. It’s hard to this if you have all of your family portraits up. Go ahead and pack up personal décor so that potential buyers have an easier time imagining themselves living there.

8. Overly Custom Home Improvements 
While you may have fallen in love with wallpaper, it doesn’t mean that potential homebuyers will. Same with the brightly colored feature wall and ceiling mural. Though you may find these customizations dreamy, buyers may be calculating the costs of removing these customizations as they look at your home. So if you have a lot of customizations, consider making the home more neutral and inviting to all tastes. This way you won’t scare off buyers who don't want to pay for customizations or features they don't want.

9. Maintenance is Needed
The more repairs that are needed for a home, the less likely a buyer will make an offer on your house. In a busy world most buyers simply don't want to deal with the cost or effort of home maintenance and repairs. So be sure that any repair work is completed, even if it's just tightening a handrail or replacing a broken tile. Well-maintained homes bring more offers. 

- Learn about selling a home that needs repair. -

10. You Chose the Wrong Realtor
Choosing the right Realtor is one of the most important decisions you’ll make when selling your home. Not sure how to find a good Realtor? We’ve put together some great interview questions that will help. After all, a good Realtor can make all the difference in selling your home in a reasonable time frame.

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If you’ve listed a home with one of these things, now you know how to rectify it. The Boehmer Team assists St. Louis and St. Charles County home sellers in achieving their home selling goals. We do so by ensuring the items on this list are attended to. Want expert assistance to sell a home. Contact The Boehmer Team for a no-obligation interview. 

 

Home Financing Tips

 

The Boehmer Team has helped many homebuyers find the most trustworthy and dependable sources for financing a St. Louis or St. Charles County, Missouri home purchase. We often get financing-related questions that our experience helps us answer. But we know to refer to mortgage industry experts to guarantee accuracy of information. Recently we interviewed one of our favorite mortgage experts, Jeff Griege of Paramount Mortgage, to get his expert tips for acquiring home financing at the best price. 

THE BOEHMER TEAM:

What is the very first step that homebuyers should take for getting financing for a home purchase?

JEFF GRIEGE:

Get in touch with a reliable local lender.  Also, listen to your real estate agent if they recommend someone.  They typically have a good relationship with a lender and the agent typically prefers to work with a lender they are familiar with.  

THE BOEHMER TEAM:

Do you recommend that people speak with more than one mortgage loan officer before financing a home?

JEFF GRIEGE:

I think that it is always best to get a second opinion.  Most lenders will have similar rates and fees but the level of service is what separates good loan officers from great ones.

THE BOEHMER TEAM:

Is there anything that homebuyers should NOT do while financing a home purchase?

JEFF GRIEGE:

Do not go out and obtain more debt while you are in the process of purchasing a new home.  This could jeopardize your approval!  DO communicate any material changes that could affect your approval (i.e. job changes) DO NOT hide things.  The more time a lender has to work on a problem the better chance the lender has to solve that problem.

 

Don’t make large purchases, like buying a new car, during the home financing process.

THE BOEHMER TEAM:

What impact do credit scores have on home mortgage financing? 

JEFF GRIEGE:

The higher the score the better your interest rate and cost of private mortgage insurance or PMI (if applicable) is going to be.  Both of these are credit score driven and you will get the best price on both of these if you have a FICO score above 760.  Please note that Credit Karma and other on line credit score companies do not give true FICO scores that mortgage lenders see on a credit report.

THE BOEHMER TEAM:

What is PMI and is PMI always required with less than 20% down?

JEFF GRIEGE:

PMI is an acronym for Private Mortgage Insurance.  It insures the lender in case of default by the buyer.  PMI is always required when a down payment of less than 20% is used but there are ways to work around paying it monthly, therefore possibly saving the buyer money on a monthly basis

THE BOEHMER TEAM:

What is the most asked question you get from people trying to finance a home purchase?

JEFF GRIEGE:

How much can I afford and what are my monthly payments going to be?

Have you tried our mortgage payment calculator to estimate monthly payments on a new home? CLICK HERE to try it now.

THE BOEHMER TEAM:

If two people are purchasing a home together and one has good credit and one has bad credit, what do you recommend they do?

JEFF GRIEGE:

Try and do the mortgage loan on the person who has good credit and put the title of the property in both of their names.  That way the person with suspect credit has ownership in the property but their credit score does not affect the rate since they are not on the mortgage part of the transaction.  Title and Mortgage are two different things

  

THE BOEHMER TEAM:

Can someone with good credit and strong income but not a lot of out-of-pocket money still buy a home?

JEFF GRIEGE:

Yes, you can buy a home with as little as a 3% down payment.

THE BOEHMER TEAM:

What piece of advice do you most often give to homebuyers looking to get a mortgage for a home purchase?

JEFF GRIEGE:

My advice is that everything happens for a reason and to try not to get too emotional through the process so that you are able to think clearly for your financial decisions. 

At The Boehmer Team, we understand that it can be difficult not to get emotions involved when making such a large purchase. We utilize years of experience facing all kinds of unique situations in real estate to coach our clients on anything that arises throughout the home buying process. With the help of great loan officers like Jeff Griege, we make sure our homebuyers have all the knowledge they need to make the best financial decisions for themselves and their families. Thinking of buying a home in St. Louis or St. Charles County, Missouri? Contact The Boehmer Team!

How To Get The Best Price For Your Home

Determining how to correctly price a home for sale is one of the most important factors in selling a home. Statistics show that setting the correct market-determined price the first time will ultimately achieve the best sale price. To find the best price for a market an impartial evaluation of recent market an experienced REALTOR should perform activity.

Why shouldn’t I price my home high at the start then go lower if no bids come in?

Putting a home on the market at a price that is over market value in hopes that a buyer will fall in love with your home and be willing to pay anything is a strategy that rarely works. This type of buyer is extremely rare. Buyers generally want the most home they can get for as little money possible.

Pricing a home correctly the first time captures the momentum a new listing has in the marketplace.

New listings are exciting to homebuyers who have been looking and know what is on the market. If they see your property and find that it is overpriced for the market, they may mark it off their list and move on. Incorrectly priced properties will lose this new-listing excitement among buyers as time goes on.  Marketing time for your home will become prolonged as the initial marketing momentum is lost.

Pricing a home correctly will bring in more potential buyers.

If a home is overpriced compared to the market, fewer buyers will be attracted and fewer offers received. The property will attracts “lookers” and will help competing houses look better by comparison. If a property does sell above true market value, it may not appraise, and the buyers may not be able to secure a loan. Or, the property may eventually sell below market value due to market stagnation and price reductions. 

So how do you correctly price a home for sale?

An impartial evaluation of market activity is the most effective way to estimate a property’s potential selling price. Experienced REALTORs use a Comparative Market Analysis that takes the following into consideration:

·      Properties that have sold in the recent past show what buyers in the market have actually paid for properties similar to yours.

·      Properties currently on the market that will be competing with yours for the attention of available buyers.

·      Properties that failed to sell should be studied to understand why they did not sell as to avoid similar disappointment.

Pick a real estate agent based on reviews and experience, not how much they will initially price your home.

When trying to win your listing some agents may be tempted to offer an unrealistic initial sales price to get your business. These agents know full well they will have to reduce, reduce, reduce – the wrong strategy.   Speak with The Boehmer Team before listing your home. They are highly reviewed, awarded and experienced agents that know the market well. Even if they need to recommend repairs or staging services, the Boehmer Team knows how to get the most for your home sale. 

New Home Opportunities in a Competitive Market

If you’ve been home shopping recently for St. Louis or St. Charles County real estate, you’ve probably noticed something – things are rather competitive. Currently there aren’t as many homes available for sale as there are homebuyers trying to buy homes (known as a sellers market). Homebuyers are having more difficulty procuring a home they want against all the competition. Those who consider buying new give themselves another option. How about you? Have you considered buying new?

 

Builder Inventory Homes

Homebuyers can buy a new home often for a similar price as a pre-existing one. Check out homebuilders’ inventory of already-built or being-built homes that have yet to be sold.  Every month that a completed home doesn’t sell incurs costs for the homebuilder, so builders may be more motivated to sell homes in their inventory.

Often times inventory homes are priced including promotions and incentives that you would receive had you built the home from the ground up.  Builders also choose top-selling floor plans with the most popular features and finishes for their inventory homes so they appeal to today’s buyers.  Many buyers love the idea that they see exactly what they are getting when buying a home from inventory. Buying an inventory home is often a very smart move for today’s buyer for a number of reasons. 

We’ve put together a webpage specifically so you can see what builder inventory homes are currently available for sale in our area. Check out our New & Now page to see the many great new home opportunities available.

 

Historically Low Interest Rates

Interest rates are still historically low. This means you can get more house for your budget. If you need help finding a reputable mortgage lender, contact us to offer some suggestions of home lenders to check out. Also, don’t miss trying our mortgage calculator to find out what your monthly payments might be based on the price of a home, the interest rate and length of the loan. 

Using an Experienced Buyers Agent

Experienced buyers specialists, like the ones on The Boehmer Team, can help you with the home buying process at little to no cost. Our job is to help you find home buying opportunities that match your needs and help you through the process of purchasing a home, which is especially helpful in a competitive market. 

 

Our network provides us access to homes being prepared for the market that aren’t even listed yet. We also know of off-market listings to show our homebuyers. Using a Boehmer Team Buyer Specialist gives you an edge over trying to procure a home on your own.

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If you are a homebuyer currently looking for a new or pre-existing home to buy, contact The Boehmer Team. We can help you procure your dream home and even help sell your current home. Reach out any time for a no obligation home buying or selling consultation and learn our strategies to help buyers and sellers. 

 

When is the Spring Home Selling Season Really?

In the Missouri area the beginning of the spring home selling season greatly depends on the weather.  In the case of normal weather where it is typical winter temperatures but not extremely cold, snowy or icy, homebuyers seem to come out in the first two weeks of February. There are always January buyers, although it is normal for it to take a few weeks for holiday celebrations to end, decorations to come down, college students to return to school and life to return to normal. 

In new home construction the selling season usually kicks off the first Sunday after the Super Bowl, unless it falls directly on Valentines Day. With new construction there are almost always inventory homes that are completely built and ready for sale throughout the winter months.
[See the current list of new construction inventory homes.]

When snow, ice and freezing temperatures occur late into winter they deter the movement of homebuyers.  The positive news for home sellers is if there are homebuyers looking under those conditions, they are most likely serious buyers.  There is also a fair amount of relocation activity in the real estate market immediately after the first of the year due to large companies implementing changes for staff.

So how long does it take to prepare a home for sale on the spring market?

The rules for home preparation for the resale market are pretty much the same all year round.  One big difference is that you do not have the beautiful trees, landscaping, seasonal flowers and foliage to rely on to add exterior charm.  It is important that dead leaves are removed from landscape beds, lifeless plant foliage removed and residue from salts and ice melt products hosed off of the concrete surfaces.  Covered porches and patio areas also need to be staged as well as possible in the winter as they are much more appealing in the warmer months. 

According to Kelly Boehmer, “if you want to take advantage of the spring selling season you can prepare by cleaning, removing clutter, organizing closets and pantries, minimizing and neutralizing décor, and getting rid of unneeded furniture. The hard work will pay off.  There are more homebuyers out in the spring than any other time of the year. Buyers have been in the house all winter and ready to make a move.  It is in your best interest to be ready for them.”

“To really make the most of your home sale define your true motivation as a seller,” says Linda Boehmer.  “Then have a quality agent make clear any terms and conditions that are required or favorable for you as a seller and include them in the agent remarks of your home listing.  This will help eliminate any confusion about your goals when you get a buyer for your home.”

You can meet The Boehmer Team at their team page. Or contact The Boehmer Team to schedule an in-person meeting to view the full details of their Maximum Exposure Marketing Plan for homes. The Boehmer Team’s experience and attention to detail when selling a home are just a few of the reasons why they are a top team in the St. Louis and St. Charles County area of Missouri.

St. Charles County Real Estate Market Report First Half 2017

Like any market, the real estate market has peaks and valleys. Understanding the current real estate market trends will make you a better-informed homebuyer, seller or investor.  Here are the St. Charles County, Missouri real estate market statistics that you need to know from the first half of 2017.

Number of Homes for Sale

As this chart shows, the most number of active real estate listings occurs in late spring and early summer. In 2017, the number of homes listed for sale in January was 1050, while currently there are about 1485 homes listed for sale in the St. Charles County area of Missouri. But when you compare the number of homes for sale in the first half of the year to the two previous years, you can see that 2017 has fewer homes on the market. These conditions point to a sellers market, where there are a similar number of homebuyers looking for homes and a smaller number of homes listed for sale.

Average Sales Price

Due to a similar number of homebuyers and fewer home sellers, the average sales price of a residential property in St. Charles County, Missouri has increased. So far, every month of 2017 has seen increases in residential real estate sale prices compared to the previous two years. If you’ve been thinking about listing a residential property for sale, now is a great time.

[See: How to Survive a Competitive Sellers Market]

Percentage of Original Price Received for a Residential Property

While sellers like to get the most money they can for their property, buyers want to pay the least they can for a home. Through the negotiation process the price received for residential real estate is often a little less than the original price for which the property was listed. The first half of 2017 shows that with more competition for residential properties, sellers are netting more money for their homes.

Days On Market

Another indicator of a sellers market is a decreasing number of days a home listed for sale is on the market.  The first half of 2017 is currently outpacing the first half of the previous two years with shortest number of days on market. In these conditions there is often more than one buyer looking at and bidding on each home. Homebuyers are sometimes learning this the hard way, when they try to see a home for sale and find out that it already has an accepted contract. 

Homebuyers should be prepared when looking at homes to act quickly when they find a home they like and prepare for possible bidding wars with other buyers. Working with a great buyers agent, like the buyers agents on The Boehmer Team, will increase a homebuyer’s chances of finding a great property for sale before it is sold.

Contact The Boehmer Team for expert home buying or investing assistance. We know the St. Charles County, Missouri real estate market and have information on homes that are not yet listed for sale. Or if you are ready to get the most from a residential home sale in the current market, contact us to help with a smooth home selling experience.