REAL ANSWERS

My house has been sitting on the market for six months. It won’t sell; what are my options?

Even in a down market, real estate experts say that price and condition are the two most important factors in selling a home.

So, the first step is to lower the price. Also, go through the house and see if there are cosmetic defects that you missed and can be repaired.

Home sellers should make sure that the home is getting the exposure it deserves through open houses, broker open houses, advertising, good signage and a listing on the Multiple Listing Service (MLS).

If the seller is using a real estate agent and the property isn’t getting that exposure, find another agent.

Another option is to pull the home off the market and wait for overall housing conditions to improve.

Finally, frustrated sellers who are forced to sell because of a divorce or financial considerations, could discuss a short sale or a deed in lieu of a foreclosure with the mortgage lender. But these would be considered more radical options than lowering the price.

Other Sources:

“How to Sell Your House, Condo, Co-op” by Amy Sprecher Bly and Robert W. Bly, (Consumer Reports Books Yonkers, New York 1993).