This post was inspired by Richard Weisser's recent feature "That's Exactly the House I Want At the Price I Want But ..."
In Richard's article, the buyers found a home with the price they want to pay. Only thing is, it's not in the right location, location, location for them. Richard explains WHY the home is priced as such: it's only got location (maybe . . . location, location).
And now for the flip side of that coin -- Buyers find a home in a PRISTINE NEIGHBORHOOD . . . but the condition of the property is not.
In both situations, the common denominator is: PRICE
- When the property has the location, location, location but condition is an issue. . . the price should reflect this!
Location - Condition = A good deal
Because, as any intelligent person will know . . . you CAN NOT do a thing about where the property is located. But, a Buyer CAN do something about condition.
If the property is PRICED correctly for the condition AND it has location, location, location . . . buy it!
When Buyers have a toss up:
- A property in pristine condition but a location that feels like compromise to them
OR . . .
- A great area but the house has some maintenance needs and/or updates
. . . buyers should consider buying location. Location is a key factor in real estate because location DOES have value
When Buying realistically and with long-term plans . . . you buy location!
You can FIX conditions. You can NOT FIX location!
EBA Portland ~~ 100% BUYER REPRESENTATION ~~ 100% of the Time
EBA Portland, LLC is an Exclusive Buyer Agency serving the Metro Portland real estate market since 1999. If you’re a Buyer in the Metro Portland area (including: Beaverton, Tigard, Hillsboro, Lake Oswego, Downtown Portland,) and contemplating a purchase, talk with a Buyer’s Agent . . . better yet, talk to an ExclusiveBuyers Agent. Exclusive Buyers Agents do not work for listing brokerages or Sellers. An EBA’s fiduciary dutyis: 100% BUYER REPRESENTATION . . . 100% of the Time.
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