Sellers-Today's Buyers Are Looking For More Upgrades!

By
Real Estate Agent with Brown Realty, 210-789-4216,www.JeremiahNewman.com TREC #0492321
https://activerain.com/droplet/hxf

Sellers-Today’s Buyers Are Looking for More Upgrades!

Today's Buyers Looking for UpgradesYes, today’s buyers are certainly looking for more upgrades in their home search. I have been showing homes all summer long, and hosting many open houses to attract more buyers. All agents understand that “Price is King” to get your listings sold, but next to price is that condition of those homes. Those homes that have been updated the most tend to sell a lot faster.

I have previously written a post about some simple tips for upgrading in Low Cost - But Big Impact Remodeling Tips. Simple things like painting those walls a neutral color will go a long way to satisfy those buyers, who are looking to match up their furniture in those rooms. I often hear many of my buyer clients complain about the selection of colors for various rooms in the homes that I show. My advice to any sellers would be to stay with a neutral color, and repaint if you have too.

Buyers have often complain about the outdated light fixtures, outdated kitchen appliances, kitchen cabinets, kitchen counter tops, bathroom and kitchen faucets, door hardware, outdated ceiling fans, carpet and flooring in certain wet areas of the home, etc. I have noticed that today’s buyers who are looking at homes older than 10 years expect the sellers to make those simple upgrades. The only exception has been with foreclosed homes, since all those buyers understand they are buying those homes “As Is”.

Therefore, I would suggest to any home owner who plans to list and sell their homes in today’s Buyer’s Market, to invest in a few simple things to upgrade your homes to overcome those objections from Today’s buyers. Look at some low cost remodelling items first like painting, replacing light fixtures, replacing kitchen and bathroom sinks and faucets, replacing those light fixtures or ceiling fans, and any hardware too. Kitchen cabinets and flooring can be expensive, but it might help sellers to sell their homes faster if they are replaced or updated.  Replacing outdated kitchen appliances will also help sell your homes faster too.

Sellers if you are interested in a obtaining a FREE Market Analysis, contact your Local San Antonio Real Estate agent today at 210-789-4216 or visit my website at Homes For Sale in San Antonio, TX.

   
close

Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Valeria Mola 08/29/2011 07:37 PM
Topic:
ActiveRain Community
Groups:
Realtors®
Texas Real Estate
Most Active ActiveRain Blogging Agents
Dedicated Bloggers
Active Rain Question Of The Week
Tags:
buyers want more upgrades
upgrading homes to sell

Spam prevention
Show All Comments
Rainmaker
810,059
Evelyn Kennedy
Alain Pinel Realtors - Alameda, CA
Alameda, Real Estate, Alameda, CA

Jerry:

I have noticed that buyers want upgraded home, they don't want to have to do much. 

Aug 29, 2011 12:18 PM #43
Ambassador
1,166,213
Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Yes, Gary. I know what you are saying about a Strong Sellers market. I have seen those multiple offers where buyers are trying to out bid one another. But, today's reality is all about the Buyers, and what they expect from the sellers.

Aug 29, 2011 01:04 PM #44
Ambassador
1,166,213
Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Hi Debbie, New Flooring makes a strong impression on any buyers. Especially those nice wooden floors or nice looking ceramic tile floors. Even the laminate make a great impression when done correctly. I wish you were in our area, so we could send you more business for flooring.

Aug 29, 2011 01:07 PM #45
Ambassador
1,166,213
Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Yes, Janet. The buyers expectations are greater Today than ever before. Sellers need to be aware of this and take the necessary steps to make their homes more attractive to today's buyers.

Aug 29, 2011 01:08 PM #46
Ambassador
1,166,213
Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Thanks, Ellen. Painting would be easier to do and wouldn't expensive even if you hired a professional to do it.

Aug 29, 2011 01:32 PM #47
Ambassador
1,166,213
Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Thanks, Cathy. I had not idea when I wrote this last night. I was just expressing an opinion that I had seen after working with many buyers over this summer.

Aug 29, 2011 01:33 PM #48
Ambassador
1,166,213
Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Hi Ruthmarie. I believe that Cathy in comment #11 made an accurate assessment of Today's buyers. The bottom line is that often their expectations are unrealistic. Sellers who have homes on the market today usually have to sell for various reasons, like job transfer, lost of job, relocation, divorce, etc. 

Aug 29, 2011 01:40 PM #49
Ambassador
1,166,213
Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Hi Janet. You make a nice point about that sellers should price their homes based on the condition, but I have noticed that the younger buyers have no idea what the actual costs would be to make some of those upgrades they want in a home. They just don't want to pay anything out of their own pockets.

Aug 29, 2011 01:46 PM #50
Ambassador
1,166,213
Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Thanks, Randy. I would say the number one thing that sellers can do in Today's Buyers market to give their homes that extra boost is to paint their homes in a very neutral color. Next, would be to do something with the flooring.

Aug 29, 2011 01:49 PM #51
Ambassador
1,166,213
Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Yes, Evelyn. They expect homes to look like model homes in those New Home Subdivisions. Perhaps, they are watching to many TV shows, like Bliz mentions in comment # 10.

Aug 29, 2011 01:53 PM #52
Rainmaker
1,249,701
Michele Cadogan-Cell 917-861-9166
Fillmore Real Estate 2990 Av U, Bklyn , NY 11229 - Brooklyn, NY
Licensed Real Estate Associate Broker -

 

Jerry you are so right.  I've even a few buyers show up with articles  from Traditional Homes magazines of Kitchens and baths that they expect to find in homes on the market.  They have to realize that they will not find every upgrade on their wish list and if the location, space, price, commute time works then maybe thats the home for them and that  most homeowners do upgrades over time when expenses allow.   

Aug 29, 2011 02:59 PM #53
Ambassador
1,166,213
Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Yes, Michele. As long as the home meets their basic needs like price, location, space and that commute time, they should be willing to add a few updates over time, but it seems that they want it all NOW.

Aug 29, 2011 04:34 PM #54
Ambassador
1,704,010
Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

I am seeing this more and more at all price points.

Aug 29, 2011 04:59 PM #55
Ambassador
1,166,213
Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Yes, Tammie. It doesn't seem to matter which price range you are working in, buyers want more upgrades.

Aug 29, 2011 05:19 PM #56
Rainmaker
908,388
Pamela Seley
West Coast Realty Division - Murrieta, CA
Residential Real Estate Agent serving SW RivCo CA

Jerry, great post and discussion. I agree that buyers do expect more for the money. Like Ruthmarie, I've been working with some buyers who turn their nose up because the home doesn't have granite, or it's bare bones, but it's in their price range. They want the all the extras but don't want to pay for it. What's incredible to me is, some of these same buyers thought nothing of paying twice as much for a comparable home 5 years ago.

Aug 29, 2011 07:48 PM #57
Ambassador
517,445
Stanton Homes
Stanton Homes - New Home Builder - Raleigh, NC
Design/Build Custom Home Builder in North Carolina

On the flip side of the coin - many sellers simply don't have the cash to completely redo their current home.  $3500 for granite countertops in the kitchen, $6K for some new flooring (not the whole home, just some areas), $1K to replace sinks, light fixtures, and plumbing fixtures - the homeowner has now put out over $10K in CASH.   Will the offer come in $10K higher?   What do you think?  If the home is in an older neighborhood, will it APPRAISE for $10K higher simply because the home is now that much nicer than all the neighbors' homes?

New paint (hiring the best of your friends and family with pizza and beer), reducing clutter, cleanliness, and some great staging can be inexpensive, but make a HUGE difference, especially for a home that's a little older in a more budget-friendly neighborhood.      

Aug 29, 2011 11:03 PM #58
Rainmaker
1,558,517
Mike Cooper, GRI
Cornerstone Business Group Inc - Winchester, VA
Your Neighborhood Real Estate Sales Pro

Excellent advice, Jerry.  It doesn't take a lot to transform a plain canvas into a beautiful picture.  Most buyers are going to make changes anyway, but sellers definitely don't want to hinder their sale possibilities while trying to save a few dollars.  Good stuff!

Aug 30, 2011 02:16 AM #59
Ambassador
1,166,213
Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Hi Pamela. We have had some nice conversations going on about what Today's buyers expect from the sellers. Unfortunately, I have worked with a few of those buyers, and it takes them longer to make up their minds on placing any offers on homes too.

Aug 30, 2011 11:16 AM #60
Ambassador
1,166,213
Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Yes, Penny. This is so true that many sellers just simply don't have to extra money to invest in making a lot of those upgrades that Today's buyers are expecting. I seriously doubt if a seller invests $10,000 or more that the buyers will come in with a higher offer. My advice would to any sellers would be some fresh New Paint, and get rid of all the clutter, and give those baths and kitchen a good cleaning.

Aug 30, 2011 11:21 AM #61
Ambassador
1,166,213
Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Thanks, Mike. I was targeting those sellers, who were looking for some ideas on getting their homes SOLD faster. Only the homes that are priced right, and appear to be in Great condition with some added upgrades will sell faster.

Aug 30, 2011 11:23 AM #62
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?

Ambassador
1,166,213

Jerry Newman

Texas REALTOR, San Antonio Military Relocation
How May I Serve You Today?
*
*
*
*
Spam prevention

Additional Information