When you list your condo or loft on the DTLA real estate market, you expect to get at least a few offers – but what if you don’t?
There could be several reasons nobody’s making an offer. Here’s what you need to know.
Why Isn’t Your Condo Selling?
One of the most common reasons condos sit on the market too long in DTLA is price. A lot of owners overprice their homes, despite what their Realtors(R) tell them. In some cases, it’s because they mix up sentimental value with monetary value; in other cases, they’re basing the price off what they paid for the home or they’re comparing their condo to other condos with different amenities. When a condo is overpriced, it won’t get any offers – and even worse, it’ll get fewer showings
Another reason many condos fail to sell is condition. In many cases, owners need to make repairs or upgrades in order to make the home competitive with others on the market. If your real estate agent advises you to make improvements around the condo, such as repainting, reflooring or upgrading cabinet hardware and faucets, listen – because he or she wants you to sell your home, too.
Finally, staging plays a huge role in the way prospective buyers see your home. You want it to look as neutral as possible so it appeals to the widest range of buyers.
Are You Buying a Loft or Condo for Sale in DTLA?
Call us at 213-254-7626 or get in touch with us online to start exploring your options when you want to buy a loft or condo in downtown Los Angeles.
While you’re here, check out our:
- DTLA Arts District lofts for sale
- Historic Core lofts for sale
- DTLA Little Tokyo lofts for sale
- Bunker Hill lofts for sale
- City West lofts for sale
- South Park lofts for sale
- Fashion District lofts for sale
- Financial District lofts for sale