One Owner - Pride of Ownership - Do You Care?

By
Real Estate Agent with Reece Nichols

So you're looking for a home!  Foreclosures are abundant.  Not to mention, there are plenty of short sales to consider as well.  Once in awhile you see "One Owner", "Pride of Ownership" or something similar in the remarks.  Do you really care?  You might!

In the vast sea of foreclosures and other distressed properties you can count on those properties having no disclosure, no history, no nothing, zilch!  You want it?  Here it is!  But wait.  Along comes the home that is being sold by the original owner or perhaps someone who has owned it several years.  Maybe it doesn't matter to you, but the Seller can tell you when and what repairs he or she might have made over the years.  Who made the repairs or who replaced the roof or replaced the appliances.  Is there a transferrable warranty?  It hasn't set empty for prolonged periods of time.  Have you talked to a buyer of a foreclosure recently who purchased a home without the water having been on for a period of time?  Surprises!  And not necessarily fun ones.  That is an entirely new topic we could delve into.  That "one" owner or the owner with "pride of ownership" can tell you if there are other children in the neighborhood.  What the neighbors are like.  Did they like the school nearby or having a park within walking  distance.   Every home has a personality and a story to tell.  Each home has its own idiosyncrasies.   The Seller who has a history with the home can tell you what those are.  Have you tried asking the Seller of a foreclosed property any of these questions?  Sorry, but, as-is, where-is my friend.

I'm not knocking the foreclosure sales or the short sales.  They are an important part of the current market.  But, I do think there is tremendous value to purchasing a home that you know has been cared for.  There is a history.  Just like the reports you obtain when purchasing a car, the Seller can be instrumental in helping you know how a home has been cared for.   Next time you see the descriptor words of "one owner" or "pride of ownership" in the description, you may not under estimate the value it brings to a prospective buyer.

If you or someone you know is looking for a home with the value that a "one owner" or "pride of ownership" home has to offer in the Raymore, Missouri area, please have them check this home out at http://www.104WHeritageDrive.com and call me today for a private showing.

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Rainmaker
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Robert Bob Gilbert
Berkshire Hathaway HomeServices Anderson Properties - Katy, TX
Your Katy TX ( West of Houston) Real Estate Expert

I agree that pride of ownership is really nice to see if you have buyers looking at that home.. Thanks for the post..

Feb 16, 2011 09:41 AM #1
Rainmaker
376,877
Robin Dampier REALTOR®
Coldwell Banker King - Hendersonville, NC
Hendersonville & Western NC Real Estate Source

I believe a traditional listing with folks living in the home or only vacant for a short time as the family made a job change move is a valuable asset for the reasons you have mentioned.

I'm sure there are good deals to be had with the foreclosures but that "as is" could end up being very expensive in the long term.

Sue of Robin and Sue

Feb 16, 2011 10:25 AM #2
Rainer
50,133
Rob Smith
Rob Smith Property Investigations - Jefferson City, MO

Hello Debbie.  Nice post.  Call me about inspection information.

Feb 23, 2011 01:39 AM #3
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Rainmaker
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Debbie White

Your K C Realtor
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