Is What Your Supplying In Demand?

By
Real Estate Agent with Palmer House Properties 292385

Ok. So I'm known to be blunt. Can't help it. It's just me. I'm as sweet as pie but I do make it my point to tell it like it is.

I've been trying to write this post since July but I've been trying to find a way to "put it lightly"

 

But I can't.... so I'll just say it.............

 

 

 

STOP PLAYING WITH THE MARKEEEEEEEEEEEEETTTTTTTTTTTTTTTTTTT!!!!

 

 

Whew! I'm glad I got that out. Now I can speak a little better. I'm a girl. I get emotional sometimes. Sue me,lol

Why am I in this mood you ask? Because I love what I do. I have a passion for it. It's part of me. I get upset when I see that is not as healthy as I know it can be.

In the last few months, I have been having buyers interested in moving to the Northeast section of Philadelphia. Now, while I'm happy that I didn't have to have the conversation with these buyers that they just can't afford to live there like I would've had a few years ago because this a place where everybody wants to live but can't afford to, the pickings are slim in the quality department. It's like shopping at one of those places where you get name brand prices for less. You have to search through the piles before you find that name brand outfit that you'd actually wear. I had to pep talk my buyers before going in. There are currently over 1300 homes for sale and I am ashamed to show a huge portion of them. I know, I know...short sales.....no! Short sales aren't dominating that area. There are some but they're not bullying the area.  Yet, the decline in price has the sellers reluctant to do any updates and while I do understand their dilemma, I wish they would wait until the market stabilizes to decide to sell if they aren't in an immediate need at this time. It's a buyer's market. What they DON'T want is:


  • 10+ year old dropped ceiling
  • original wood framed windows
  • old, dirty, colored carpets
  • paneling old or new
  • old greasy stoves
  • garages with holes in the fire wall
  • THEY REALLY REALLY REALLY DON'T WANT THAT WALLPAPER!

 

What they DO want is:

  • a clean house
  • an updated kitchen
  • an updated bathroom
  • newer neutral colored carpets or hardwoods (and guess what, they'll take old hardwoods if you shine them up real nice)
  • fresh paint
  • a clean basement even if it's not finished

Bottom line, they want to feel like they're not buying a money pit. Most of my buyers don't mind putting work into a property BUT they won't put TOO much work into it. And guess what else, when they are looking for updates, they aren't looking for HGTV updates, they just want to know that when they move in, they will be comfortable. They want a kitchen that they can feel comfortable cooking in. They don't mind if you don't give them tons of recessed lighting and beautiful custom cabinets that kiss the ceiling. They want a bathroom to compliment their potpourri. And guess what else, if you're not going to give them these things, they wouldn't mind it if you didn't price your property at top market price. They just want to feel like they're getting what they paid for.

As a REALTOR, and a homeowner, I DO understand reasoning for not updating your home at this time BUT if you're not going to price it according to the way it shows and you're selling because you want to and not because you have to, please withdraw your listing. I promise you, you will thank me when home values skyrocket because there isn't an overflow of inventory on the market. SUPPLY AND DEMAND! SUPPLY AND DEMAND! If you're home is priced at top market price and is not delivering top market quality, what you're supplying isn't in demand and the current market condition will linger....

 

SELLER'S IF YOU'RE READING THIS, PLEASE DON'T GET OFFENDED. I AM GIVING YOU FEEDBACK FROM THE PEOPLE WHO WON'T BUYER YOUR PROPERTY IN THE CONDITION YOU'RE TRYING TO SELL IT TO THEM IN FOR THE PRICE YOU'RE ASKING...

 

OH! One more little list. If you're listed and you've been sitting there for a while do two things, ask your REALTOR (you ARE using a REALTOR right?) for the recent solds, chances are you're priced too high. Also, take a look at your listing if:

  • people are in your pictures
  • if the pictures are too dark
  • if they aren't highlighting the beauties in your house
  • if you can see all of your clutter

Chances are you're going to be sitting on the market a little while longer. Buyer's can't 'use their vision' on a cluttered home with unflattering photography. Make sure your REALTOR gets you some quality pictures on that listing. You want to get them in the door. I've seen some pictures that don't do the actual home justice. A picture can't be worth thousands of dollars in or out of your pocket.

 

Trust me on this one guys. This is my baby I'm talking about here. Just a few little changes in your strategy can make a world of difference.


Disclaimer: My remarks are to heal, not to hurt. If you have any questions or need any pointers, ask away. I promise we'll have a wonderful conversation.

Posted by

Selling? Buying? You should call me for that. Dee Neal Palmer House Properties 678.387.9309

                                           
Dee Neal Atlanta Area Real Estate

Dee Neal:PalmerHouse Properties, Atlanta Real Estate

Email: Dee@atlantanewhomesupply.com

Call me: 678.387.9309

 

 

 

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Comments (4)

David Zablatsky
Avant Realty Group - Needham, MA
Real Estate - Needham, MA

Wow, very interesting, thank you for your posting!

-David

Oct 26, 2009 04:00 PM
Dee Neal
Palmer House Properties - Alpharetta, GA
Atlanta Area Real Estate

david...yw...sometimes, i wish i could just wave a magic wand and make it all better....

Oct 26, 2009 04:05 PM
Robert L. Brown
www.mrbrownsellsgr.com - Grand Rapids, MI
Grand Rapids Real Estate Bellabay Realty, West Mic

To the point. I do like your directness in this post. Just saying what's on your mind. TY

Oct 29, 2009 02:53 AM
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

Hi Dee -- I caught this on Andi's 2nd time 'round!  We ALL want to say this, because we're all thinking the exact same thing!!!  Hope you get the feature of the day!

Feb 23, 2010 02:05 PM