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Why "as is" properties are not selling and why "move in ready" properties ARE selling

By Lori Cain

Real Estate Agent with Own Tulsa License #142914

October 04, 2010 04:35 AM

Why "as is" properties are not selling and why "move in ready" properties ARE selling

Fresh paint in neutral colors will yield results when preparing your home for sale

When preparing your home for sale, you need to evaluate what home buyers have purchased in your neighborhood in order to determine your list price AND to determine what you need to do to prepare your home for sale. If every home sold in the past six months had granite countertops and you have Formica countertops, do you think your home will sell? If every home sold was "immaculate and move-in ready," do you think your home that needs painting and new flooring will sell?

Home Buyers today want a bargain, but they don't want to do any work. And they don't have to. The inventory of homes in our market is huge and ever increasing. Even if your home is priced to reflect the need for new carpet or fresh paint, the average home buyer will walk six doors down and pay more for the home that needs no work.

Remove as many possible home buyer's objections BEFORE you list your home for sale in Tulsa. Think Buyers may not like your OU crimson-colored game room? Paint it. Brass light fixtures looking a bit dingy and dated? Install new ones. Carpet in the den looking a little worn? Replace it, and consider wood flooring.

Updated fixtures will help your home sell faster

Why "as is" properties are not selling and why "move in ready" properties ARE selling

Seek the advice of a home stager and/or real estate professional to identify improvements that will likely yield a return on your investment. Spending money up front to make your home shine and stand out from the competition will make your selling process so much easier. If you can't do the work yourself, your stager or Realtor will have vendors to recommend.

The winning home selling strategy does not change. Your home will sell if it is in top condition, priced correctly and marketed aggressively. Choose the Listing Realtor that understands this selling strategy.

Preparing your home for sale requires some sweat equity and a humble attitude – but your participation in getting your home ready for market is truly “priceless.”

Originally Posted at: Midtown Tulsa Real Estate - Lori Cain

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Gary Woltal

Keller Williams Realty - Flower Mound, TX

Assoc. Broker Realtor SFR Dallas Ft. Worth

Lori, when inventory is flush as is properties SIT. You have this one down absolutely correctly.

Oct 05, 2010 09:51 AM

Larry Lawfer

YourStories Realty Group - Newton, MA

"I listen for a living." It's all about you.

Not all sellers are willing to understand these simple concepts. I had a listing that the sellers had done all this work and the price of the house was very attractive to value, unfortunately is was in the higher end of a community with lesser expensive homes. It is now 110 days on the market.

Oct 05, 2010 09:52 AM

Loreena and Michael Yeo

3:16 team REALTY ~ Locally-owned Prosper TX Real Estate Co. - Prosper, TX

Real Estate Agents

If only sellers understand this.

Oct 05, 2010 10:48 AM

Matt Mulder

Keller Williams Realty - Kalamazoo, MI

Great post!!

Oct 05, 2010 11:45 AM

Karen Hubert

Center Stage Design-Home Staging - Brantford, ON

CSP, Brantford, ON

This is a great post Lori. The brass light fixtures that are outdated seem to be everywhere. I especially dislike the fireplace screen that is brass. I have had clients spray paint light fixtures and fireplace screens with heat resistent black paint with great results.

Oct 05, 2010 12:42 PM

Heather Cook

Beyond the Stage Homes - Kitchener, ON

Delivering beautifully staged spaces

Lori - awesome post! We call the process of finding a home on mls 'speed dating' and in order to get that 'first date' your home has to be dressed for success. I wrote a post on it "Why Home Staging is Crucial for Listings (Or Internet Dating as We Call It)". And its true. Price + Appearance/Condition + Marketing = SOLD Home.

Oct 05, 2010 03:25 PM

Lori Cain

Own Tulsa - Tulsa, OK

Midtown Tulsa Real Estate Top Producer

Internet dating EXACTLY. So, Realtors, don't skimp on the professional photographer after the Seller and Stager have done their work!

Oct 05, 2010 04:05 PM

Judy Colburn

ProStaged Homes - Los Angeles, CA

Los Angeles Glendora, San Dimas Covina, Home Staging

You are so right Lori. Love this post. Today's buyers want to have their cake and eat it too!

Oct 05, 2010 04:17 PM

Billie Hillier

http://702IsHome.com - North Las Vegas, NV

Savvy Home Realty Solutions

I had a client who wanted a good deal but after looking at the REO / AS IS homes on the market ...decided to build! They thought they wanted to do the work until they smelled the newness of the new home.

Oct 05, 2010 06:58 PM

Marianne Cherico

Interiors by Marianne Cherico - Foxboro, MA

Home Stager -Massachusetts and Rhode Island

Lori,

This is such a valuable post! I re blogged it.

Thank you!

Oct 05, 2010 10:39 PM

Lori Cain

Own Tulsa - Tulsa, OK

Midtown Tulsa Real Estate Top Producer

Thanks for all the re-blogs!!

Oct 06, 2010 03:20 AM

Ginger Foust

Certified Staging Professional - Oakhurst, CA

Home Stager Oakhurst CA, Dream Interior Redesign & Staging

Very well stated Lori. The more of us that say this the better for everyone. My area doesn't see it or get it yet, but getting the message out is crucial. Reblogging to localism!

Oct 06, 2010 04:15 AM

1~Judi Barrett

Integrity Real Estate Services 116 SE AVE N, Idabel, OK 74745 - Idabel, OK

BS Ed, Integrity Real Estate Services -IDABEL OK

Lori,

We don't have the # of listings that other areas do. They can't walk 6 doors down and find another home for sale. BUT that does not change your advice. Sellers will do better to do the work and have it appraise higher. It's much easier than coming up with the cash to do the updates after purchasing.

Keep telling it the way that it is.

Oct 06, 2010 06:23 AM

Lori Cain

Own Tulsa - Tulsa, OK

Midtown Tulsa Real Estate Top Producer

Thank you, Judi, and thank you Ginger for the re-blog!

Oct 06, 2010 06:04 PM

Judy Klem

Transition Stage LLC - Shelton, CT

Home Staging, Senior Move Management, Fairfield/New Haven counties

Hi Lori - Really great post! It makes so many important points for sellers. Thanks!

Oct 07, 2010 03:48 AM

Nina Rogoff

Boston, MA

Wix Websites for Real Estate Agents

Great post, Lori! I also like what you said in your comment (#31) that, in effect, not making the updates costs you a lot more than the actual cost of doing the updates. I just did a walk through with a seller on a home they want me to list. The linoleum in the kitchen has duct tape holding it together. Granted it's color coordinated duct tape but still...Congratulations on the feature!

Oct 07, 2010 02:26 PM

Anonymous

Amy Bly

Just came across this post, Lori, through Twitter, and wold love to re-blog it, but for some reason can't find the "re-blog" button?! I've always found it before, so this is weird. Love your post, too, and MUST print this out for the unconvinced sellers who I consult with . . . the ones that only do SOME of what I suggest never get the results of the clients who do 100% of my recommendations. Your "in the field" viewpoint just might help convince more of them!

Oct 07, 2010 05:05 PM

#72

Lori Cain

Own Tulsa - Tulsa, OK

Midtown Tulsa Real Estate Top Producer

Nina - color coordinated duct tape? LOL!

Amy - not sure why you can't see the re-blog button. Are you logged in? It's been re-blogged several times.

Oct 09, 2010 03:57 AM

Debbie Gartner

The Flooring Girl - White Plains, NY

The Flooring Girl & Blog Stylist -Dynamo Marketers

Very well said. It's no wonder this was featured and reblogged 16 times. That is amazing. Super job and I couldn't agree with you more.