"HOT TICKET" ITEMS TODAY'S SALT LAKE CITY HOMEBUYER WANTS AND IS GETTING

By
Real Estate Agent with Berkshire Hathaway HomeServices

The Salt Lake City homebuyer today wants it all!

Just a few of the items today's Salt Lake City real estate homebuyer is seeking: a home for sale in great condition with rooms that can do double duty. Areas that mingle indoor and outdoor living -- patios, porches, decks and outdoor rooms -- are always a plus. And so are those features that offer a little luxury, like garden spa-like tubs, first-rate appliances and high-end countertops.

They're also going back to basics: searching for solid, well-maintained Draper properties that will give them their money's worth.

But more than anything, buyers want to drive a hard bargain.

They want a "steal of a deal" and no matter where a seller prices their property, buyers are still looking to negotiate.

 

The following 9 items are hot ticket items for buyers this year:

1) HOMES THAT ARE WELL MAINTAINED. 

The attitude of today's Utah home buyer is, "I'd rather spend the money getting into the house, then more money later to get it up to par."  Buyers aren't wanting unknown expenses looming over their heads.

Few Salt Lake City homebuyers today are wanting complete "fixer-uppers."
One reason for this is that buyers have limited amounts of cash.  Even if they want to buy and remodel a fixer-upper, they just don't have the capital to do it and long gone are the days that lenders made it easy for buyers to get "cash out" at closing to complete these kinds of properties.

2) HOMES WITH VALUE.

Today's Salt Lake City buyers are very picky.  They want value.  They are not going to settle because they know they don't have to.

Linda Secrist's advice to sellers: Repair, update, clean and stage. You must remove every possible obstacle for buyers.

Surprisingly, the more-for-less approach even holds when buyers consider bank-owned properties.  They want the short sales and the foreclosures and they want them to look like they're owner-occupied.  They don't want to paint, carpet or clean.

3) OUTDOOR LIVING AREAS.
Bonus features like screen porches, outdoor kitchens, two-way fireplaces are fast becoming hot ticket items.

4) INCENTIVES.

Along with pricing, it's all about incentives.  Utah homesellers are offering buyers incentives such as closing costs, home warranties, gift cards and many more creative perks. Sadly, we Salt Lake City Realtors believe this has made the road more difficult for sellers. Not only are (buyers) asking sellers to lower the price, but they are asking for a lot more, so negotiations are much more difficult now.

5) GREEN or PLANET-FRIENDLY HOMES.

Sandy homes for sale that are easy on the planet because they're easy on the wallet.  Buyers are looking for things like triple-glazed windows, high-efficiency furnaces and energy efficient appliances. Today's Draper homebuyer wants to make sure that the ongoing operating costs of the house are as controlled and economical as possible.

6) GREAT ROOM  OFF KITCHEN

The kitchen has become part of the gathering space. Most buyers aren't as picky about the "formal" areas of the Bountiful homes for sale and want a larger great room where families/guest can gather and entertain in comfort.

7) NATURAL FEELING AND LOOKING MATERIALS.

Granite counters are still popular, but stone or other natural material is sufficing just the same.  Buyers just like a more natural look, as opposed to plastic tops or even the "Corian" counters of years past.

8) USEABLE SPACE.

Buyers are buying smaller homes, but they want to be able to use and reuse every inch of space.  They are being much more strategic and efficient with how they use a home. Formal spaces that might only be used three or four times per year are disappearing. Entertainment rooms, home theaters, larger great rooms have substituted.

And sometimes the amenities that convey that feeling of living large are relatively simple or inexpensive.

9) LUXURY.

Who doesn't like luxury? Like top of the line appliances, automatic sun shades for the afternoon sun or coffee bars in the master bedroom.  Buyers are finding these items and more in value priced homes.

 

Comments (3)

Larry O'Sullivan
Sandy, UT

Linda - good summary of local market demands by buyers. Gone is the list of needs and wants, sometimes replaced by petulance and expectation (and even a reluctance at prequalification which might seem to  affect their bargaining position). I have had "buyers" who expect to negotiate directly with a seller before making an offer.

Apr 12, 2011 01:49 PM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Linda,

Your points are well taken, what you are pointing out is true in most markets.  The "perception value" is no longer important and in many cases, people are willing to wait till the price comes down, if they feel it is overpriced.  A

Apr 12, 2011 07:12 PM
Anonymous
Anonymous

Some buyer"s  .. are only wanting fixer uppers.   and they are fun to show!

Apr 13, 2011 02:21 AM
#3