Yesterday, I showed several homes in the same area, all of which are in the same price range and of the same architectural style.  The area has a large inventory, so it is not uncommon to find three for sale on the same block.  When a buyer can simply cross the road to find another home, you just have to consider the competition.  Look at your local market.

Not too long ago, it may have been feasible for a homebuyer to say, "Well, I really like the house; I can always replace the siding."  Now, it's more like, "Well, why would I want to replace the siding; the two homes for sale across the road have good siding." 

One of the homes I showed has asbestos siding, broken in several spots.  I could not help but wonder, "What is this homeowner thinking"?  If asbestos is in tact, it's one thing.  However, for someone to face the cost of asbestos removal and new siding!  It is just not going to happen in today's market.

Step outside of your home!  Look at it and comparable homes with the eyes of a buyer.  How does your home compare?  Curb appeal, especially when it concerns something as basic as a home's siding is extremely important. 

If you are not going to replace worn siding, then your asking price needs to reflect this.  You have to give the potential buyer a reason to buy your home instead of one the others, and a Realtor can advise you accordingly.

Thoughts from the beautiful Hudson Valley ... 

Sunset Cornwall, NY

Photo courtesy of Anthony Pizzuto

 

9 Comments on Why Did the Homebuyer Cross the Road?

JUN
08
2008
144,369 Points 2 Featured Posts Attended Rain Camp

True, I like to say that if you want top dollar, your house needs to reflect it.

10:28am • #1
1,179,676 Points 3 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp

Great post...and very accurate. I don't really understand why agents take listings that aren't in tip-top selling condition.

10:28am • #2
381,187 Points 2 Featured Posts Outside Blog Attended Rain Camp

I drove down one local highway yesterday and I believe half of the real estate on each side was for sale.

10:30am • #3
759,106 Points 13 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp

You are 100 percent right. When we first moved to Atlanta you could walk out of a house because you did not like the color of the carpet. I thought that was bad boy was I wrong

10:35am • #4
801,038 Points 43 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

I agree that price has to be reflected in the comparable market, It's even harder in a condo complex when there is even less uniqueness to a property. Steve

10:35am • #5
134,620 Points

good post..I agree with you..too much competition- homes must look good and be priced well!!

10:46am • #6
2 Featured Posts Localism Sponsor

Steve ... I agree. I have a townhouse listing in a complex where there are nine others on the market!  It's tough!

Michael ...Thanks for your comment.  You have to have it all in this market!

Charlie ... Thanks for stopping by.  Buyers have lots of options!  They don't have to settle.

John ... It's just amazing in certain areas, isn't it!  Sometimes, a buyer asks if there is something wrong with the area!

Vickie ... I wonder also.  Seems pointless.  Thanks for commenting.  

Linda ... Exactly!  Thanks for reading.

 

11:11am • #7
JUN
09
2008
648,311 Points 63 Featured Posts Localism Sponsor Outside Blog Called Shot Master

We don't have that around here yet. Inventory has been creeping up a bit, but  not a lot.

12:31am • #8
2 Featured Posts Localism Sponsor

Hi Ruthmarie ... It's interesting that it occurrs in pockets.  Not much for sale in one neighborhood and in another, the number of homes on the market can be overwhleming for a buyer.

6:04am • #9


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Marie Meyer, Orange County New York Realtor®

Central Valley, NY

More about me…

Keller Williams Realty

Address: 229 Route 32, Central Valley, NY, 10917

Office Phone: (845) 928-8000

Cell Phone: (845) 401-4034

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