I can’t tell you how many times a day-week-month as a real estate professional- I am asked if the market is picking up. In my opinion, it definitely is. I am busier than I have been in a long time. I have well-qualified buyers who are actively looking to buy a home and sellers who are motivated to sell one. So what’s the problem? Buyers are much pickier than they used to be which is not necessarily a bad thing if they are reasonable.
My experience indicates that they expect a lot more bang for their buck. This means two things to me. When it comes to “traditional” sales, sellers must be at the “top of their game.” That means that when your realtor says something needs fixed up, cleaned, decluttered or the like- it needs to be. You are competing for a small pool of qualified buyers that have no problem going down the road to find exactly the right fit for them in a large home market. We are sorry if this inconveniences you but you want to sell quickly and for top dollar, right? It’s worth it if your home isn’t exactly how you like it but rather how someone else can picture themselves living in.
The second is that you are competing with short sales and foreclosures. You have to convince the buyer that your well-maintained home is a better value than a distress sale when they factor in repairs and replacements such as carpet, appliances and the like. If yours shows like a model home. the sad and sorry distressed home says “time, effort and money” to many potential buyers. However, if your home is dated and obviously needs a new roof- why wouldn’t they go for the bargain?
I know this sounds obvious but for some reason, some sellers still don’t get it. I think some are still living in a pre-2006 world. It may be some time before we have that type of market again.
In future blogs, I will discuss pricing and buyers.
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