Advise on Why is my house not Selling?

Question

Hello BP,I recently got introduced to BP, and am loving it. Looking to get some guidance in Las Vegas / Henderson property sale.House is located in N Green Valley, Henderson NV. As our family is expanding, we moved into another home and put our primary home for sale. We lived in this house for 8 years. After reading many posts / advised in BP about selling primary homes and saving on taxes. I wanted to do the same thing.The house is solar powered, desert landscape. The bills are really low. Solar panels can be bought exactly in 18 months from the provider as per contract. I spent good amount of money on this house for getting it ready for market. Did all new appliances, carpet, cabinets and painting etc.... its been quite some time and i still do not have offers. I have bee watching our local market very closely, am not able to draw any conclusion / 's on why my property is not selling. Reaching out to all experts seeking advise. Thanks to all members of BP.Please see the listing below for reference. https://redf.in/2LwP2if

Christopher Brainard · Answer

@Prakash GanapaThe only reason a property doesn't sell is price. It doesn't matter what's wrong with the property, someone will pay something for it.It seems in your post that you're fixated on your solar panels, but not all buyers like solar panels and they may not see the same value in them that you do. The photos in the listing are bad. Also, I'm not sure I would have chosen the same finishes that you did for the house, especially the high gloss flooring and the accent walls. They may be suited to your taste, but the more generic and neutral the finishes, the better the house generally sells.-Christopher

Prakash Ganapa · Answer

Awesome, thank you all for great insight's. Am taking as suggested and dropping the price by 10K, and see how it goes. Will keep you all updated with progress.

Matthew Paul · Answer

If a house hasnt sold in 30 days it is priced too high . The price is determined by the buyer . Its only worth what someone else will pay . I am on the other side of the country , in my neighborhood that house would bring $600,000 quickly . And 10 miles away it would barely break $ 300K . Is it in a prime school district ? Is it in one of the best neighborhoods ?

Brandon Carriere · Answer

I'm right down the road from here.. We recently sold one (same floor plan I think, similar condition) on the same street which I believe sold at $345k WITH a pool.. Solar may seem great, but it adds a wrinkle of uncertainty and is more of a pain than its worth sometimes.. Ethically, there's not much more I can say, especially after looking over the listing.. Pics are kind've blah, with glares everywhere and dirty looking floors.. Bottom line is you're gonna have to wait until the market catches your price, (it could) or lower the price to cause it to sellGood luck!

Prakash Ganapa · Answer

Thank you CK. We had multiple showings and also open houses. No negative feedback received about the property or price. Consistent feedback is "Very nice house". Our monthly bill averages about $90-$105 with Vegas heat. Our's is a grandfathered plan with a flat rate, unlike the utility companies fluctuation plans. Taking over the plan is flexible with provider, buyer can take over by paying a flat fee of $250 and that's it. no other complications.

Dennis M. · Answer

I don’t know that market or area ..but it sure Looks like you have a beautiful home that anyone would love to raise a family in .

Susan K. · Answer

I would get rid of the accent walls and paint them to neutral. Some buyers want to do nothing and are afraid to pick up a paint brush, so this will help alleviate that. Also, as others mentioned it is usually the price if you are getting multiple showings and no offers.

Robert Adams · Answer

I am VERY familiar with this community and 89074 in generally as my last 3 homes have all been in this zip code.The pics are fine.The interior is fine as well.The exterior (mainly the rear yard needs some love.) Looking back after the fact it is always easier to see but I would have recommended spending a little less on interior finishings and a little more on the rear yard. Same out of pocket but would show better. An example of this is 2336 Brockton in same community. You invested in upgrading your bathrooms where they did not but they have a sitting area with covered patio and built in bbq. Probably pretty similar in costs give or take but makes the back yard more functional.With all of that being said your home will sell it has not been on the market at the current price long enough to know if it is over priced but given the lack of offers at the original price I would agree it was over priced. Give it some time at the current price. If it sells then great, if not then consider lowering it further or sprucing up that back yard.Best of luck!

Grant Rothenburger · Answer

@Prakash Ganapa I don't have to look or no anything else to tell you the answer. Price is too high.

Marian Smith · Answer

Buyers are saying “nice house” ...but apparently “not for me.” Why? 1) Nothing in particular is compelling. 2)Price is not compelling. The homes that fly off the shelf here for 10-15% more than expected have weathered gray floors, white quartz counters with a big gray vein, very light gray walls....or similar look. A trendy professional decorator look. Your choices put your house in the “nice” range but not the “wow” range. If you go to realtor.com and find the payback for renovations it is never 100%. (Except for a 1k replacement front door but that has to assume the original front door is dated or worn out.) Sorry to be so blunt but reality check is that you will not get a lot of payback on the renovations. If other houses have appliances a few years old and refinished cabinets and the houses are “nice” but priced a lot lower, they will sell first. Remember, Vegas got hammered in 2008, so buyers do not want to overpay for a house because they need to be able to sell and at least break even if they need to move. If they want to spend an extra 10-15k over comps, it will be for cabinets and countertops that they personally chose...or for some that knocked them off their feet.