Homes in Great Condition
That is what todays BUYER WANTS!
They want to move right in. They do not want unexpected surprise expenses. Pristine condition. They have a budget and are more likely to stick to it then buyers in the past. Buyers are more conservative period. The days of moving in and obtaining a second mortgage to fix up the home are gone.
Great Prices~ Bottom Prices
They want it all. Great home and great price. Even when showing foreclosures
they want the home to look like an owner left on good terms. They want the home NICE!
Banks are even putting money into foreclosures despite the investors complaints. The banks feel they appeal to more if the foreclosure is up to par. This in turns makes more money for the bank. Plus it allows the home buyer to obtain a mortgage when the foreclosure is in good condition.
Appraisers are sometimes even taking into consideration foreclosure and short sale comps when appraising homes and this can be difficult for the regular homeowner who is trying to seller. MEANING: THE BUYER IS ALSO TRYING TO USE FORECLOSURES AS COMPS. Right or wrong we see this happening. This in turns has the potential to bring prices down further. Really sometimes it is all about the DEAL to the home buyer in this market. They are not bringing their emotion into home buying as much as they were in the past.
Buyers "are more focused on negotiating, drawing limits in their mind and focusing on the strategy," says Justin Knoll, president of the Denver Board of Realtors. Some of it is a point of pride, he says. "They want to tell their friends and family that they really got a smokin' deal."
Large Kitchens Open to Rest of the House
This is a continuing trend that has been going on for years. No matter what the home size is is the wall is going away and making the kitchen open to the family/great room.
Sometimes I recommend this prior to selling to bring more money to your home and have your home sell faster.
The kitchen is the heart of the home even if your serving take out. In today's busy world no one wants to be excluded.
Wood floors, granite, stone, ceramic and marble. All price homes these days benefit from these long wearing lifetime materials. Granite is no longer for 500k and up homes. In Naperville, Illinois more and more homes have granite installed including the bathrooms. Some large chain home stores now sell granite counter tops for your powder room at bargain prices. These small details add huge returns!
More and more people are staying close to home and want a deluxe yard. This does not have to be big but private. They want their yard to be an extension of their living space. Some many local companies sell great indoor/outdoor furniture it is truly an asset when you offer this space when you sell. In The Chicago area outdoor fireplaces and outdoor fire pits are a great way to enjoy the colder nights and entertain. This is a huge draw for buyers.
We cannot say this enough. Buyer incentives. Closing costs, home warranty, free cleaning service for a year,
any perk that will make your home stand out.