If you’re wondering why your home hasn’t sold in Fairfax, Virginia, you’re not alone Del Aria Investments & Holdings site can help you. There are several factors that may be contributing to the lack of interest in your property. These include your Price strategy, Disclosure obligations, and tax-rate reduction.
Disclosure obligations
Sellers must disclose known defects and problems with a home to potential buyers. Disclosure laws protect both sellers and buyers by following the caveat emptor principle. This means that buyers must act with due diligence when selling a home. Sellers must disclose known defects and problems with a home as much as possible. Disclosure forms are typically included in listing paperwork.
In Virginia, sellers must provide a Virginia Disclosure Statement before a contract is finalized. This document explains the condition of the home and possible scenarios that could affect the condition. Virginia is a “buyer beware” state, which means that a buyer must perform their due diligence and get a thorough home inspection. Additional disclosures may be required in certain rare situations. For example, sellers must disclose if there is lead paint in the home.
Tax-rate reductions
While tax-rate reductions are a welcome change, the underlying issue is a lack of money for local government. Local governments are already strapped for cash, and many residents are looking for ways to save money. Fairfax County is no exception. For example, the Board of Supervisors has allocated $6.1 million in recent budget hearings to pay increases for public safety employees hired before June 30. The board also wants to tackle recruitment and retention issues in the police department.
This year, the average price of sale of homes in Northern Virginia increased to $650,000, up from $519,000 in 2018. Despite this, some residents in the area have seen their real estate taxes rise by up to 20 percent. Taxpayers group head Arthur Purves has argued for more tax relief for residents, and Robert Marino, president of the Oakbrook Community Council homeowners association, told the Fairfax County board that assessments have skyrocketed due to the real estate market’s turbocharged environment and multiple bids.
Vacant basement
The question: “Why isn’t my home selling in Fairva VA because of a vacant basement?” has become a hot topic in real estate circles in recent weeks. While vacant basements are often a turn-off for potential home buyers, they are not the only problem. A vacant basement can also be a sign of a squatter.
Recently, a Fairfax County, VA homeowner discovered a squatter living in her basement. Though she had listed her 3,500-square-foot home at $805k, she was still unable to sell it because of the squatter. In addition, the house’s interior needed some work, such as a broken dishwasher or a leaking toilet.
Vacant homes
One of the biggest problems for sellers of vacant homes is the buyer’s perspective. Many buyers find it difficult to imagine a home without furniture and can’t fully grasp the layout of rooms. This makes them less likely to make the highest offers. A real estate agent can help potential buyers view the home from a different perspective and make the best possible offer.
Most homebuyers simply scroll through a list of listings in an effort to find something that stands out. That means a vacant home has a significantly smaller impact than one that is occupied. On average, vacant homes spend six more days on the market and sell for about $11,306 less than occupied homes.