I saw many homes today in my market area. West Chester PA runs the gamette in types of homes, condition and locations. There are great properties in great neighborhoods. How do you get from a house needing lots of work to a house that will get sold?
Do you just work on the house yourself so it will sell?
I saw so many nice homes that Buyers will not buy because they do not see the value to the location and the actual quality of the house. Or will they? and at what price?
Most people want to move into a big clean space where nothing is needed to e done.
Prices should stay up, however will homes in "rough condition" effect VALUES and distort Buyer perception of the market. houses that are in poor condition will get a lower price that houses in updated great condition.
Will these values make sense to the consumer, the appraisers and the funding institutions? I think this is the biggest challenges we are faced with in the market today.
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