You’re likely reading this article because you’re having a difficult time selling a property. There can be a number of reasons why your house won’t sell in Baltimore. Given our experience in the Baltimore market, here are the most likely issues.
Baltimore’s Real Estate Market Can Be Finicky When Selling Your Property
Baltimore neighborhoods fall in and out of favor with buyers quicker than most people would expect. A neighborhood like Remington may be hot in the Spring with houses being snatched off the market in multiple offer situations. Almost as fast as the frenzy occurred, Remington could cool off by the Fall with houses sitting and getting stale. These waves of buyer trends can be difficult to predict and could be a big reason why you house won’t sell in Baltimore.
You want to wait out the market but time is money and it hurts paying property taxes and utilities while the property sits vacant. Neighborhoods rarely get hot and when they do it’s often a flash in the pan. Buyer behavior in the past is rarely a good indicator for buyer behavior in the future for these transitional neighborhoods. If your house won’t sell in Baltimore today, there is little chance that buyers will be clamoring over it in the near future.
But I have a Realtor. Aren’t they the reason my house won’t sell in Baltimore?
Many homeowner point at their Realtor when their house won’t sell in Baltimore. They change Realtors, hoping that this was the problem and that their house would now magically sell. More times than not they’re sorely disappointed when they hear the same bad news from the new Realtor that they heard from the old one.
Yes, it is unsurprising when a house won’t sell in Baltimore when the listing is of low quality with poor photos, but this is rarely an issue today with the many professional photography and copy-write services available to Realtors. As real estate professionals they have limited control over how the market will react to your home. They can recommend small updates like door hardware and fresh paint, but once they list it on the market they’ve done everything they can to find a buyer. If buyers are not making showings or submitting offers it is unfair to blame the Realtor when your house won’t sell in Baltimore.
Then What’s The Reason My House Won’t Sell In Baltimore?
If your house has sat on the market for an extended period of time then the problem may be the house. if your house won’t sell in Baltimore it is because buyers want the best house at the best price. There are currently 5,604 active listings in Baltimore with 131 new properties that were listed today alone! If you’re trying to sell your property in Baltimore then you have stiff competition. Buyers literally have thousands of alternative options to choose from, and if you’re not the #1 property on their list then your house won’t sell in Baltimore.
Buyers look at a variety of criteria when deciding if your house is even worth putting an offer on:
- Practicality: You have to be honest with yourself – Is your house practical? Buyers care about the small details since they will be living there for years. Here is a list of issues that could be why your house won’t sell in Baltimore:
- Your house only has 2 bedrooms – Most people require a minimum of 3 bedroom.
- Your dining room can’t fit a normal sized dining room table – People rarely buy a house if it doesn’t fit furniture they currently own.
- Your house doesn’t have a basement – Buyers are attached to their stuff and need a place to store it.
- Your house has only 1 bathroom – Buyers worry about what they would do if they only bathroom in the house was to become inoperable
- The kitchen is located in the basement – Buyers expect the kitchen to be on the main level.
- One of the bedrooms is impractical – Many cap cod layouts have a single bedroom upstairs that is elongated with beveled ceilings. While this does qualify as a bedroom, buyers do not view this as a practical bedroom.
- Your house only has radiator heat – Buyers today expect central heating and air conditioning.
- Your house has a wet basement – Wet basements scream mold and could be the reason your house won’t sell in Baltimore.
- Neighbors: Do you have clean and tidy neighbors or do they let their lawns get out of hand and leave their children’s’ toys in the yard? Nothing scares away a potential buyer like bad neighbors. Unfortunately you can’t control your neighbors and they could be a roadblock for why your house won’t sell in Baltimore. You could build a fence to block the messy view, but little can be done about nosy neighbors who feel inclined to talk to your buyers.
- Price: Do buyers feel like they’re getting a deal at your current list price? Buyers always want the best price and if your property is priced high, even by a few thousand dollars, then it will scare away buyers.
You Still Have Options If Your House Won’t Sell In Baltimore
Have you ever considered a cash home buyer? Dependable Homebuyers is a company in Baltimore that will provide you a fair offer for you property and buy it without any repairs. Unlike traditional buyers, Dependable Homebuyers is looking to buy many houses just like yours in the Baltimore area. With a cash home buyer you’re not competing with the other houses on the market. They’re a local, professional company who specializes in buying difficult properties just like yours for a fair price. Fill out this form and they can make you a none contingent offer right away.