THE MARKET IS SHIFTING….IS IT A LONG-TERM TREND? A trend has evolved where the inventory of quality re-sales is scarce. What I mean by that is a house that requires little or no maintenance or upgrades has become rare, not extinct, in our regional market. And, if one does go up for sale it is not available for long. This is a message for both the buyer and seller. Buyers, simply offer top dollar, get pre-qualified or offer cash, and do not hesitate once you have decided you want to buy a house. Otherwise be prepared to invest more cash to fix up or upgrade after the purchase. Sellers, invest some cash and sweat equity to upgrade the inside your house, and enhance the curb appeal if you want it sold fast. You might also consider investing in a home inspection especially if you have not lived in the house for six-months or more. You might be surprised at the unseen problems that could kill a sale. I have said it before, go with an experienced real estate agent because this is the biggest single investment you might have so why risk it. Here are a few issues and questions both Buyers and Sellers should be asking themselves: • Know your area • When it comes to price, be realistic • Be flexible on other offer terms • Once you know what you want to buy, don’t dawdle • Buyers get pre-qualified , sellers ask to see the pre-qual letter • Decide what you will do if the home appraisal is below the asking price • Sellers have your realtor request back-up offers, buyers, place back-up offers • Working through your realtor, connect with the buyer or seller When you hear or read that some locations in your area are hot, and yours is not, don’t blame your realtor. Here are some thoughts on why your house might not be appealing to some buyers, yet perfect for others: • Location – to far from a downtown hub • Too close to the airport • Too close to traffic noise • Not near a particular school • Neighborhood looks not appealing How do you get around these objections? • Make you home more appealing to the eye – sweat equity and investment • Price it to sell, don’t hold out for more if you want to move, be realistic • Emphasize the accessibility to schools and recreation activities • Offer incentives to buyers • Be nice, but talk to neighbors about keeping up the exteriors What else might a buyer not like? • No master on the main level • Garage not on same level as kitchen • Too many steps • Flow of room traffic and location of staircase • Little or no back-yard • High POA or HOA fees • Steep or narrow driveways How do you get around these types of objections? • You emphasize the positive aspects of the house • Keep up the maintenance • Stage the house to sell – once you put it on the market treat it like it is sold - put away personal items and photos - remove some furniture to make the house look spacious - keep it neat and clean - maintain driveways and landscaping – add trees and flowers There are many things you can do to make your house more salable. Don’t apply the newspaper headlines to your area, unless you are in that area being quoted. Not all real estate markets are the same. Buyers should look for what appeals to them most and keep re-sale in mind, not just bargain prices. What may not be the perfect location today, may be in a year or two. Things change…..
Posted on: Sun, 28 Jul 2013 15:38:13 +0000
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