Potential...... Does it sell a house in today's real estate market?
In my opinion is does not, but I'm looking for other opinions, in agreement or not.
When I started flipping houses over 35 years ago, determining the "potential" of a house was a one of the most important parts of the buying process. As flippers/real estate investors we usually bought fixer uppers, but not if they were without "potential".
Here is an example of what I'm seeing today. This ranch style home below has potential, but it is truly a fixer-upper and the lack of front yard landscaping is just a small part of what needs to be done.
Below is the kitchen in the same house. Yes, it has great potential BUT most buyers wouldn't like the peninsula wall hung cabinets that close off this space. Buyers want cabinets that are not old and falling apart. Today's buyers want upgraded counter tops not tile that is chipped and broken. These recessed fluorescent light fixtures are also very unattractive to buyers.
When the real estate agent first saw this house she saw the "potential" but she also saw it's needs and she called our Oakhurst based home staging company to help with the appeal of this house. Please keep in mind that when we stage a house we do NOT cover flaws. Yes, staging helps buyers visualize what a house can be but they should still see the issues.
In my area, houses with "potential" are plentiful. They are lingering on the market and prices are dropping significantly which has a negative effect on the local market.
What about your area? Do houses with "potential" move quickly or do they linger?
AND if you know of anyone that's interested in a house with potential, on 41 acres in the California foothills...let me know.
~ ~ ~ ~ ~ ~ ~
Dream Interior Redesign & Staging by Ginger Foust is a full service, licensed and insured Professional Real Estate Home Staging and Interior ReDesign company.
Locally serving the Californiafoothill and mountain communities of Oakhurst, North Fork, Coarsegold, Ahwahnee, Bass Lake, Wawona and Mariposa. Also serving areas of Fresno, Clovis and Madera, California.
Providing Virtual and Conceptual Staging Worldwide.
See our Oakhurst area slideshows with examples of our Professional Staging, ReDesign and Decorating. When the first show is over click on OTHER SHOWS to see more.
Visit our website at http://www.dreamredesigns.com for more information or call 559-877-2442.