While "Location, Location, Location" will always be number one in regard to the desirability of homes for sale, "Condition, Condition, Condition" should now be second in line. In today's real estate market, the inventory of homes is growing, but the condition of many of these homes is atrocious. If sellers want an edge on the competition, they need to step up to the plate by offering a home which has had the necessary repairs and cosmetic enhancements to make a sale more probable.
Why is this true now, while it was not necessarily as important during the real estate boom years? Back then, virtually every home sold in a relatively short amount of time. Even if a home was a fixer, there were still plenty of offers from flippers and investors. Times have changed. It isn't necessarily a case of how quickly will my home sell...but rather, will my home sell at all?
Sellers should look around at the houses being offered for sale in their neighborhoods. The market is now flooded with homes which are - how do I say this - undesirable. But, a listing can still sell quickly and for more money in today's market if it is the "standout" property on the block.
Sellers should ask themselves one simple question before listing: "Would I want to purchase this home if I were a buyer?" If a home is not attractive, buyers will keep looking. Thus, even long-time homeowners should treat their homes like a "flip". Do the necessary repairs, stage the home, enhance the curb appeal. You will sell faster and for more money...and isn't that the whole point?
Lastly, I can already hear the argument: "What if the seller can't afford to pay for improvements?" I am completely sympathetic to these sellers and their financial circumstances, and I can't stress this enough: simply clean, paint, and de-clutter! It is almost free and, believe me, it will make a world of difference to prospective homeowners.
If I can be of help with any of your South Bay real estate needs, please don't hesitate to call, email, or visit my website. Mary Walker, The Real Estate Group, (310) 508-8507, Email: mary@maryforhomes.net, Website: www.maryforhomes.net.
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