Why Your House Isn't Selling

The spring selling season -- such as it was -- has quickly faded away. Homeowners who want to sell are now pinning their hopes on the third quarter of 2009. With a strong buyer's market in place, many sellers are bound to be disappointed as buyers skip over their homes for others nearby. Why does a house not sell?

-- It looks drab in photos.

Since the vast majority of home buyers start their search for a home on the Web, your house had better look fabulous. If it doesn't shine online, no one will take the time to see it in person.

Hiring a landscaper to trim your bushes and trees, plan some fall color, aerate your grass and edge your flower beds is a smart use of cash. But you'll also want to power-wash your exterior and perhaps repaint trim to make it jump out in photos. Having your home look picture-perfect online makes home buyers want to see how good it looks in person.

-- It's overpriced for the neighborhood.

If your neighborhood is filled with foreclosures and short sales, you'll be hard-pressed to get top dollar, even if your home looks better than all the rest. However, if you have just a few foreclosures, you may be able to overcome any objections by pricing your home correctly.

In this case, correct pricing means figuring out at what price point buyers are looking in your neighborhood. If everyone is looking at homes priced at $250,000 or less, that's the price point you want to be at. If your home looks great and is priced right, you'll get traffic through the front door.

If you can't afford to sell at that price level, then you should consider removing your property from the market and renting it or waiting until the economy improves.

-- There's no "wow" factor inside.