We have all heard the saying "Location, location, location."
Well, location certainly does affect the value of a home, but it's the price that sells a home.
Whatever is the most desirable location in a prospective buyer's mind, be it lakefront, oceanfront, a penthouse or mountaintop......the most desirable location in the world won't sell a property if it is priced wrong.
And while condition is another factor that will affect the sale of a property, a good location will sell at a fair price.
Neither location nor condition will sell any house. One one thing does, and that one thing is price.
So if you are a seller waiting for that "special buyer" who will overpay for condition or location, you may have a long wait. Not to mention, if the buyer needs to obtain financing for the sale, the property must also appraise for value.
If your home is on the market and you are not getting showings, it is most likely because you have it priced wrong.
If your home is on the market and you are getting showings, but are getting no offers, it is most likely because it is priced wrong.
If you are working with an agent, have them do an updated value analysis for you including a price recommendation. Then follow their advice and you should be on your way to a sale.
And oh, if you are not working with an agent, you should be.
Tony Morganti, CRS, ABR