Special offer

Sprinkles Cost Extra!

By
Real Estate Agent with Transaction Alliance 513.520.5305 www.LizTour.com SAL.2002007747

SprinklesSprinkles Cost Extra!

It's always interesting to observe how buyers approach offering to purchase a home they like.  In a perfect world, there are enough similar homes recently sold to have confidence in what a home should be worth.  Their buyer's agent can provide the information and hopefully they're receptive and a deal can quickly be reached with the sellers.

However, sometimes there's a lack of recent sales, or some recent sales are being selectively ignored.  Perhaps appropriately ignored, perhaps not.  But deciding which homes are comparable enough to consider and which ones aren't takes some evaluation.  It's not so simple as drawing a circle around a home and accepting every sold home that falls within that area.  You have to consider how closely similar a home is, but also any special circumstances involved with those sales. 

If you find "MOTIVATED SELLER" out in plain sight, chances are speed to closing meant more than dollars to that particular seller.  Vacant homes sometimes lead to decreased value too.  And once you do find potentially similar homes, you've got to take it a bit further than just number of bedrooms and square footage and in the same neighborhood. 

Another important factor to consider is the features of the homes being considered.  Is one house vanilla and the other with all the sprinkles?  Hardwood floors, granite counters, custom bath and the like?  While the vanilla home is typical carpet, Formica counters, linoleum floors and big box store purchased shower enclosure?  Now most sellers know they don't get dollar for dollar back on their home improvements, perhaps not even 50% back, but do you really expect to get all those sprinkles for free vs. the vanilla home?  What would you be expecting if the shoe was on the other foot?

We know it's "just business" and "you gotta try", but if you REALLY love a home and want it, be ready to pay for the sprinkles before someone else opens their wallet to enjoy that home YOU wanted!

Serving Warren County's residential real estate needs,
Liz and Bill aka BLiz

Posted by

Serving Warren County Ohio & Adjacent Areas

The Liz Spear Team of Transaction Alliance
Elizabeth Spear, ABR, Ohio License SAL.2002007747

William (Bill) Spear, Ohio License SAL.2004011109  Kentucky 77938
Ask for us by name if you visit the office!

EHO
Bill Direct:  513-520-5305
Liz Direct: 513-265-3004     
Fax: 866-302-8418

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Comments(19)

Michael Maynard
New Neighbors Realty - Milford, CT
"Welcome Home!"

Very true liz and bill, if you wannt something bad, just do what you have to do.

Apr 29, 2012 09:56 AM
Bruce & Sandy Soli
Sierra Sotheby's International Realty - Incline Village, NV
Tahoe Lifestyle Experts

especially when markets are chainging and we head into a stronger and healtier market.  The signs are there way before it's there.  Sprinkle away!

Apr 29, 2012 10:02 AM
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Michael, Especially true if you know it's a hot property.  That's not the time to be playing limbo with the offer.  Get serious and own it, or play games and lose it.

Bruce & Sandy, Unfortunately too many people don't pay attention to the facts and keep believing that buyers own the entire market.  In some areas that stopped being true quite awhile back.

Apr 29, 2012 10:10 AM
Wayne Zuhl
Remax First Realty II - Cranford, NJ
The Last Name You'll Ever Need in Real Estate

Good point - instead of trying to get the house you want cheap, just try to get the house you want!

Apr 29, 2012 10:15 AM
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Wayne and Jean Marie, We've been on both sides of this working with buyers.  Someone who wanted the steal and lost out, and others who knew what it would take and went right after it.  The second group is now in the homeowner category :)

Apr 29, 2012 10:18 AM
Clint Mckie
Desert Sun Home, commercial Inspections - Carlsbad, NM
Desert Sun Home, Comm. Inspection 1-575-706-5586

Hi Bliz team,

You never re coup all the investment in all the "SPRINKLES" you add to a home. But the good part is, it's the sprinkles that sell the home.

Have a good evening in Ohio.

Best, Clint McKie

Apr 29, 2012 10:22 AM
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Clint, I know we've added lots of sprinkles to our own home, and we're enjoying them now.  We'll get part of the investment back, but nowhere close to all, and that's okay with us.

Apr 29, 2012 10:32 AM
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

Yep.  Sprinkles do cost extra, as shown by the store in Beverly Hills called "Sprinkles" which always has a line out the door.  People are willing to wait, and pay, for something special.

Apr 29, 2012 11:03 AM
Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News
Nice analogy though now I want ice cream. Sprinkles do have value and it's just a matter of figuring out how much is right.
Apr 29, 2012 11:26 AM
Anna "Banana" Kruchten
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

Sprinkles can add up to lots more $$$ in our current hot market.  Great analogy!!

Apr 29, 2012 11:39 AM
Ellen Caruso
Daniel Gale Sotheby's International Realty - Glen Head, NY

In New Construction, people want the sprinkles but don't want to pay for them. It take a cherry on top to push back and still get the deal!

Apr 29, 2012 01:16 PM
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Jane, Most people will pay for that something extra special.  So what does that L.A. store sell?

Cindy, True, how much extra?  Sometimes subjective, but the one thing not to expect is free.

AB, True, the more of a sellers market, the higher the premium,

Ellen, We see that here too.  Rather than drop price, new construction starts offering bonuses to keep the buyers coming.

Apr 29, 2012 01:35 PM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning BLIZ,

Well I for the life of me don't know why this post is not featured! I love the analogy as it is so true. Many are willing to open their check book for the home that has the extras! You are right how much extra? Who knows but it will be more..that's for sure!!

Apr 29, 2012 07:21 PM
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Dorie, Posting on Sunday nights is a long shot for getting a Feature, I'm sure the Staff is mostly chilling out by then, as they should be :)  And definitely more for the sprinkles!  It's amusing to see someone point to "comps" that have zero extra, and then have them try to offer even less than the comps for a home that has the extras.  Doesn't send the message that you're a serious buyer who understands the market trends and what it takes to be successful.  How much is the buyers and how much is their agent we never know.

Apr 29, 2012 08:06 PM
Kathryn Maguire
GreatNorfolkHomes.com (757) 560-0881 - Chesapeake, VA
Serving Chesapeake, Norfolk, VA Beach

One thing I have noticed with the increase in the number of buyers in the market is that people who are trying to "see what happens" usually remain purchase offer writers...not home buyers.

Apr 29, 2012 10:50 PM
Joni Bailey
101 Main St. Realty - Huntsville, TX
Your Huntsville / Lake Livingston Area REALTOR®
I understand trying to see if someone will play ball with you. But understand, they want a home run just as bad as you. Why not get on the same team, and let them get on base before you hit the homer!
Apr 29, 2012 10:50 PM
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Kathryn, We've had agents come through and write offers on one of our listings and tell us that was offer number FIVE they've written, and they were STILL trying to lowball.  They moved on to offer 6  because they still weren't serious enough buyers to get the deal done on our listing.  And we know they've got company in that mindset.

Joni, Sometimes the offer and list price are so far apart the two teams aren't even in the same stadium, much less on the same playing field :)

Apr 29, 2012 11:06 PM
Brenda Mullen
RE/MAX Associates - San Antonio, TX
Your San Antonio TX Real Estate Agent!!

Them sellers want dollar for dollar for them sprinkles and buyers want them sprinkles for free..oh the fun we have in Real Estate :)!  Love the analogy BLiz!!

Apr 30, 2012 12:00 PM
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Brenda, At least MOST of our sellers know they won't get dollar for dollar.  We've been in negotiations with a buyer that apparently not only wants the sprinkles for free, but wants the price deducted from fair value too! :)  They're allowed to dream.  They also won't own a home anytime soon.

Apr 30, 2012 12:23 PM