It was a Dark and Freezing Showing in Colorado Springs.....

By
Real Estate Agent with Monument, Black Forest, Falcon, Fountain homes

 

          I show a lot of REO properties and I can tell you it doesn't take a rocket scientist to figure out that the ones with heat on and electricity for lights get a lot more attention from buyers than those that are freezing with dark foreboding spaces.  I carry a Mag light for the homes without electricity but my buyers usually won't even venture into the basement if they are shivering on the first floor.  

 

 

                                                            how to sell vacant properties in winter                                               

               How much can a monthly bill be to minimally heat a home to at least 65 degrees? In Colorado Springs the REO contractors I talk to all say that the banks will reimburse for the electric bills at closing- so why not turn on the heat and lights so buyers can at least peruse the home without fear of frostbite.  Chances are the home will receive a contract during the winter months if warm and inviting instead of having to wait until spring to capture attention, so the cost of heating the place outweighs price decreases for days on market.  

 

              From my observations the average time a buyer will spend in a vacant property with no heat or lights is about 5 minutes and they won't even investigate all the rooms.  By the time they hit the kitchen their noses are running, the cold has stimulated the need for a bathroom, and there is NO discussion about where to place the furniture.  On the other hand a home that at least has lights and heat will capture their attention for about 15-20 minutes and sometimes longer if they are considering how to overcome some of the obvious defects and cosmetic pitfalls.  That property will at least get on the short list. From my perspective there is really no benefit to turning off electricity in vacant properties if the seller is serious about closing during the winter season in Colorado. 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Location:
Colorado El Paso County Colorado Springs
Tags:
reo
short sales
selling a home in colorado springs
foreclosed properties in colorado

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainer
24,625
Laura Strunk
Keller Williams Realty Centre - Ellicott City, MD
Howard County Maryland Realtor

I completely agree with you.    Buyers will go through home much quicker without electricity.  Thanks for posting on this unforgotten topic. 

Dec 15, 2010 11:05 PM #1
Rainmaker
414,117
Navona Hart
Real Living Cornerstone - Farmville, VA
Selling the Best Properties in Central Virginia

Good advice for banks!  I have had great success in getting the heat on lately.  I will use your blog as more fuel for my fire.

Dec 15, 2010 11:09 PM #2
Rainer
93,559
Lorraine Sayer
Monument, Black Forest, Falcon, Fountain homes - Colorado Springs, CO
Realtor ABR,CDPE,GRI - Colorado Springs,CO RE/MAX

Laura: Thanks for dropping by.  This is one of those issues that I have a hard time seeing the benefit to a cold dark listing.  Maybe an REO lister will drop by and enlighten us.

Navona: I wish you success using my blog as ammo!  Why not keep the heat on? Days on market versus utility bill...........

Dec 15, 2010 11:30 PM #3
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
93,559

Lorraine Sayer

Realtor ABR,CDPE,GRI - Colorado Springs,CO RE/MAX
Contact Now for Pressure Free Answers to Your Questions!
*
*
*
*
Spam prevention

Additional Information