Regardless of which source you read, the news for those selling homes in Center City, Minnesota is not encouraging. Overall prices are down, foreclosures for sale still compete with standard sales in drawing buyers, and there is no immediate market improvement on the horizon.
Savvy sellers must pay attention to the things that buyers in this market care most about. Jake Duffy shares some good insights here regarding what buyers are demanding in today’s market:
Compact but Cool
The depressed economy has changed the priorities of many buyers; for energy and maintenance reasons, far more are looking for smaller homes rather than the sprawling mansion they may have chosen ten years ago. But, according to Mr. Duffy,
”they want [them] in pristine condition. These buyers aren’t interested in fixer-uppers. They want well-maintained smaller properties, to avoid potential big ticket expenses in the future. Smaller properties also require less heating and cooling, and their smaller yards require less maintenance. These are all factors today’s buyers are weighing as they shop for a home."
No surprise here – buyers are demanding the best prices they can get, and they hold the better bargaining chips.
Now more than ever, buyers want their home to be their castle. It’s no coincidence that the term “staycation” was coined in the last ten years; more and more vacationers are staying home and taking their vacations in their local surroundings. Because they’re foregoing expensive trips to exotic locales, they want their homes and yards to provide them with maximum comfort and entertainment value. Nice patios and places for outdoor entertaining are higher on the list for many potential buyers, and can be difference makers in them choosing your Center City home over your neighbors’.
In the past, installing upgrades like granite counters maybe have been considered a nice but unnecessary touch. Today it might seem like an impractical expense. But very often it is these touches that will draw the eye of a buyer and make them consider whether your home might be their next castle.
Your Center City, MN home need not be a Better Homes and Gardens showcase to sell. But a few well-placed improvements will position it strongly in the market against the competition. A good real estate agent will help you choose which ones can best serve you and the sale of your home.