The brick townhouse is a bright eight-year-old end unit with a list of upgrades - $10,000 in plantation shutters alone - and tasteful decor. Outside, it has a deck screened for privacy; inside, it has a big kitchen island. It's also in a convenient location, all likely pluses.
However, condos and apartments recently replaced the trees that were behind it and a dozen other townhouses are for sale in this Owings Mills complex, including three end units. All factors likely to limit its appeal.
The house has been on and off, but mostly on, the market for more than a year with more than one agent.
The current listing agent, Len Bernhardt, a Coldwell Banker veteran of 48 years, believes many would-be buyers are waiting out sellers in the hope that sellers will blink first.
"I would love to get back to California," said Gene Hill, the owner of the townhouse. But at the same time, she said, "I'm not going to just give my house away."
A recent price drop encouraged an offer so low she rejected it.
The story is not an unfamiliar one.
June housing sales reported by Metropolitan Regional Information Systems Inc. show the average sold price dropped by 4.43 percent from a year earlier. The statistics also show houses were on the market 32.93 percent longer, up from 82 days to 109 days.
If a house isn't generating buyer interest and a contract, it's time to reassess and make adjustments or consider renting it. Agents get feedback from colleagues who have shown a house to potential buyers, a good starting point for considering the next step.
There are a variety of reasons that a house may not appeal to buyers, but we spoke to several experts who identified five reasons a house may not sell: price, location, visual appeal, condition and our catchall of other market factors.
We asked area agents and Tara-Nicholle Nelson, host of HGTV FrontDoor.com's Savvy Woman Homebuyer video series (she's also a real estate broker, lawyer, speaker and author) to weigh in with some specific problems and their solutions.
1. Sale price is too high
"Price is everything," said Marc Witman, a partner in Yerman Witman Gaines and Conklin Realty in Baltimore. If the house hasn't generated serious interest within a few weeks and showings are at a trickle, re-evaluate the price. Recent comparables that sellers find at online real estate sites are helpful.
