What Do I Do When My House Doesn’t Sell?


Christie Mahany
Christie Mahany

What do I do when my house doesn’t sell?

When I first got into the business (in 2003) if I was talking to a first time homebuyer, they were likely looking to be in the nicest house they could find in the $80K-$120K price range, with as little of a down payment as possible, usually in the city. Today, and for what I’ve seen the last two years or so in the Greater Erie market, first time homebuyers – who are often millennials that are two income households with good credit and a hefty down payment – are looking to move into the suburbs with a two car attached garage, 3-4 bedrooms including a master suite, 2 1/2 baths, fenced backyard, not too close to the neighbors, good school district, and they are willing to spend $150K-$300K to get it.

Home-for-sale-WEBBut what about those people who purchased the starter home 7-10 years ago? They are now looking for someone to come and buy their starter home so they can buy a 3-4 bedroom with a master suite, 2 1/2 bath, 2 car attached garage outside of the city with a fenced….wait a minute….

Yep. I knew you were a smarty and would catch on quickly. Right there is why we have an excess of inventory in some areas, and a shortage of inventory in others. It’s why you could be trying to sell your home and getting little to no offers, but scrambling over others when you go to purchase.

If you’re one of the many people out there struggling to sell, here’s three tips:

1. All houses will sell for the right combination of price, location and condition.

2. You’ve got to be the best deal going or you will get passed by. I can get people in the door, but I can’t make them buy. I don’t get to decide who buys what and when, (but I would be open to someone starting a petition).

3. Don’t wait too long, or people will think there’s something wrong with your house… Or you.

Are you still struggling? You almost always have a choice in your next move, like:

1. Stay where you are. Remodel or resign yourself to staying there until the market shifts again.

2. Sell it however you can, and buy a better place. Even if you don’t get the price you wanted, you’re still getting to move on with your life in a property that fits your needs better. Plus, if you figure out the costs, it was still likely cheaper than renting all this time which means it still was a wise purchase.

3. Move to a better place and rent out your current house. If it brings in extra money each month (known as “cash flowing” in the biz) then it’s even better.

Know that you aren’t alone, and that it’s a choice. Be informed and make the choice that is right for you and your situation.

At home, Christie

About Christie Mahany:

Christie Mahany
Christie Mahany

On any given day I’m a full time real estate agent, momma and chief wrangler of two kids and two dogs, married to a guy who essentially hunts and fishes for a living, and happy residing on the outskirts of Erie, PA. Sometimes I fool myself into thinking I have superpowers, except my cape is usually in the laundry…I hope. It’s all in a day’s work.

Editor note: You can follow Christie on social media at the following links:
facebook icontwitter iconyoutube iconinstagram iconpinterest iconWebsite at www.christiemahany.realtor

You must be logged in to post a comment Login