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What Types of Homes are Selling Right Now? Perfect Ones!

By Claudette Millette

Real Estate Agent with The Buyers' Counsel

March 30, 2011 10:55 AM

What Types of Homes are Selling Right Now? Perfect Ones!

For those who believe everything they hear in the media and think that the housing market is at a complete standstill, I have some news. There are many homes that are selling, and selling quickly. They simply fit into one of two categories.

They are:

Well-presented, or
Very well-priced.

Or, preferably - both.

Some of my buyer clients have recently run into extremely competitive situations resulting in multiple offer scenarios. I have found myself resorting back to techniques that were used during the boom periods to have their offers brought to the top of the pile. These include writing letters defining their current and past employment situations, and descriptions of exactly - what nice families they are.

What is causing this type of competition in a down market?

These are basically sellers who have smart Realtors® and they are taking their advice. Before the home is put in the market, the agent goes through the property and points out areas that need improvement. As a result:

Interiors are getting a fresh coat of paint.
The home is immaculately cleaned.
Any deferred maintenance is immediately taken care of.
Repairs are being made.
Out-of-date décor such as flowered wallpaper is being removed.
New kitchen counters are being installed.
The exterior is repainted, if necessary.

But most importantly, the home is priced correctly.

Perfect homes, of course are not the only houses that are selling. Foreclosures, estate sales and properties that need freshening but do not have the resources to do so are also sometimes generating multiple offers. The key is - they must be priced to sell.

The message here is that, even in this difficult market, there are houses that are coming on and selling the first day they are listed. The secret - and this should not be much of a secret - is:

Listen to your Realtor®!

Claudette Millette, Broker, Owner, The Buyers' Counsel - (508) 881-6230

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Michael Setunsky

Woodbridge, VA

Your Commercial Real Estate Link to Northern VA

Claudette, this is so true. It has to look good and priced right to sell.

Mar 31, 2011 02:13 AM

Irene Kennedy Realtor® in Northwestern NJ

Weichert - Lopatcong, NJ

Claudette,

I think I'm going to force all my new sellers to read this prior to signing the listing agreement.

Mar 31, 2011 02:13 AM

Susan Thompson-Solomons

Monument Sotheby's International Realty - Solomons, MD

Southern MD Real Estate-Solomons Specialist

Well priced quality inventory is selling in this market. There are so many risks with foreclosures and the short sale time frames just don't work for many, so it just makes good sense for buyers to move on a well priced property in great condition and take advantage of great interest rates.

Mar 31, 2011 02:35 AM

Terrie Leighton

Ferrari-Lund Real Estate - Reno, NV

Reno Real Estate Agent ~ Selling Homes in Reno

This is so true! A home in my neighborhood recently received an offer in three days after it was listed. There were two other similar homes listing for sale on the same street. This home was in perfect condition and sold for asking price, which was higher than than the other two.

Mar 31, 2011 02:45 AM

The Scott Loper Team Bux-Mont Premier Properties

Keller Williams Real Estate - Montgomeryville - Lansdale, PA

Hi Claudette,

Unfortunately, buyers are super-picky and seem to find flaws in every home (sometimes it leaves me scratching my head and thinking, "Are you serious?").

Lisa

Mar 31, 2011 03:10 AM

Jeanne M. Gavish

Jeanne Gavish, Keller Williams Realty Elite Partners - Spring Hill, FL

Keller Williams Realty Elite Partners - CIPS,GRI,S

I find European buyers particularly want the "Perfect Home" and are willing to pay for it.

Mar 31, 2011 03:51 AM

Mike Frazier

Carousel Realty of Dyer County - Dyersburg, TN

Northwest Tennessee Realtor

Claudette, the home owners that listen to me and price their house what is worth and let me show it when we need to, then their houses are indeed selling.

Mar 31, 2011 04:27 AM

Chris Ann Cleland

Long and Foster Real Estate - Gainesville, VA

Associate Broker, Bristow, VA

Couldn't have said it better myself. Homes are not all languishing on the market. Price and condition being optimal, the home will sell.

FEATURED IN THE GROUP: BARTENDER, MAKE IT A DOUBLE.

Mar 31, 2011 05:15 AM

Tricia DeSouza

HomeSmart - Scottsdale, AZ

Selling Scottsdale Luxury

I agree... pricing plays a major part in a home selling but appearance plays an even bigger part. I have walked a lot of short sale and lender owned homes that are priced right, however, buyers can be immediately turned off of the home when walking in to a distaster zone. Appliances missing, electrical wires hanging out of the wall, dirty dusty homes... they are a very hard sell.

Mar 31, 2011 06:18 AM

Julie Baldino

Front Door Realty - Vancouver, WA

Opening Doors to New Chapters...

Great post! Also happening in the Pacific Northwest!

Mar 31, 2011 06:38 AM

Christian Bastian

Douglas Elliman Real Estate - Sayville, NY

Christian Bastian - Douglas Elliman Real Estate

So many of todays buyers are very aware of the right price for the right house. When this perfect combination comes up, the houses are selling in days rather than months. Cheers to better agents, better sellers, and better buyers.

Mar 31, 2011 06:44 AM

xxxx xxxx

xxxx - Alexandria, PA

I am keeping a folder with all of the excellent posts (yours included ! ) that discuss the importance of pricing the home correctly. It is hard to convince some that homes are moving. It just happens to be that overpriced and outdated homes aren't moving. Thanks !

Mar 31, 2011 08:30 AM

Leslie Ebersole

Swanepoel T3 Group - Saint Charles, IL

I help brokers build businesses they love.

Perfect advice and very well written. I have a new system for helping clients evaluate homes. Buyers just have to set their criteria correctly for establishing their own "perfect".

Mar 31, 2011 08:38 AM

Loreena and Michael Yeo

3:16 team REALTY ~ Locally-owned Prosper TX Real Estate Co. - Prosper, TX

Real Estate Agents

That's why I constantly said selling homes isnt rocket science. It's pretty simple, isn't it?

Missed you.

Mar 31, 2011 09:05 AM

John Novak

Keller Williams Realty The Marketplace - Las Vegas, NV

Henderson, Las Vegas and Summerlin Real Estate

Price and condition are two big factors that the seller can control. Those who are positioned well in these areas should get quick sales.

Mar 31, 2011 09:08 AM

Torgie Madison

Quicksilver Real Estate Solutions, LLC - Portland, OR

Websites and Contact Management

Such a simple truth. In this market you have do have to be near perfect to compete but that isn't as complicated as some sellers might think!

Mar 31, 2011 10:14 AM

Nick T Pappas

Assoc. Broker ABR, CRS, SFR, e-Pro, @Homes Realty Group, Broker/Providence Property Mgmnt, LLC Huntsville AL - Huntsville, AL

Madison & Huntsville Alabama Real Estate Resource

Claudette, the "handy-man special" really takes a beating. I think we've done a pretty good job of informing sellers what they need to do, of course there are those that don't get it.

Mar 31, 2011 10:49 AM

Christine Smith

Buyers Brokers Only LLC - www.BuyersBrokersOnly.com - Canton, MA

Exclusive Buyer Agent & Attorney, Canton, MA

Claudette...I am finding the exact same thing. The last two offers I have had submitted by my buyers have been multiple offer situations. And, the houses needing work or that are over priced are still sitting there.

Mar 31, 2011 02:07 PM

Candice A. Donofrio

Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ

928-201-4BHC (4242) call/text

Perfect is what people want because they CAN have it! And yeah, I am blue-faced from telling that to my investors--GOOD HOMES GO FAST AND FOR LIST+

Because prices are already down! They are all getting a deal!

Then, there's "Ohhh, a fixer is fine . . ." till they see the fixers as compared to what they have been seeing online that is well-presented, clean and lovely. Then the attitude adjusts.

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