As professionals in the real estate industry we all enjoy a perspective into real estate that most people never fully understand. We understand what really creates true value in real estate.
For example, the staged home with nice paint is going to gain our sellers more money, as it will sell quickly. However, I would love for my buyer clients to buy the exact same home, down the street, with green paint and no Ethan Allen interior designer. Why? Because paint is cheap, and the furniture does not convey!
The popularity of real estate reality shows, and blogs about home decor, has brought along new attitudes amongst buyers. Clients today have higher expectations about what homes should look like. The idea of what a fixer upper is has changed dramatically.
My idea of a fixer upper is a resale home that need's remodeling because it is severely outdated or in poor condition.
Today's buyers idea of a fixer upper? A home that isn't sporting this year's shade of gray and doesn't have the white quartz counter tops the model home down the street sports.
Guess what? That model home down the street costs $200,000 more than this resale home. Exact same floor plan. It actually costs $100,000 more than the homes they are building next door. And that does not include the model home furnishings either.
You can't afford Ethan Allen furniture from what you have told me. So this house will not look like 'this' house on the day you get your keys.
It's a challenge that I actually enjoy when working with buyer clients. Finding the homes that are great homes they can make their own, while letting reality TV show watchers overbid for the same home down the street.
True story... about 10 years ago I listed and sold a home that was decorated and painted as cute as could be. This home showed perfectly and sold the first weekend on the market. At the walk-thru, 3 days before closing, my clients had already moved out and into their new home. The buyer (not my client) showed up for his pre-closing walk thru and was so devastated. He yelled at me for an hour trying to understand what happened. My sellers left the house in the same condition. There were no repairs needed. What happened? They moved out! All that cute decor is gone and this is the home. That's what your buying folks.
Sellers... take note. Make the home look gorgeous. It works!
Buyers... take note. Don't fall for HGTV remodeling quotes. Get real quotes. When you are finding the place you want to call home - make sure you are finding the place that suits your needs. Not the needs of a magazine cover that turns into a pumpkin in 30 days. I've seen plenty of ex-meth labs that in pictures look gorgeous... don't let the decor fool you.
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