The Wells Team has been busy with buyers and sellers! The Atlanta home market, in most areas, is very busy! It feels like a sellers market. Inventory is low and new building is behind.
At this point sellers can sit back, put up a sign, and let the offers pile up!
Not so fast!
We continue to see a different breed of buyer looking for homes. They have done their research, they are educated on the housing market, they see the latest trends on the Internet, they watch HGTV, and....they are too busy to work on their home, do not want to put additional cash into the home, and they generally lack the desire, and skills , to do the work themselves.
How do we know this? Because we are working with buyers who reinforce these traits!
Here is the feedback from our recent buyers:
- This home has rooms that need to be updated
- If it cost this much to update these rooms, then I will subtract that amount from any offer
- I do not want to get a mortgage then use additional cash to do updates
- We just do not have the time to deal with major updates
- I don't have the skills to do the work
Last weekend we showed a lot of homes in our area. The homes ranged from 10 to 18 years of age. Some of these homes have been available for over a year. Some of the sellers decided to make changes. We saw updated Kitchens and Master Bathrooms.
Feedback from our clients was very positive. They appreciate the work done on the property.
So here is the dilemma for our sellers:
Do I put money into updating the home when we are going to sell it?
Will I get the return on my investment or will I lose money?
Can I just tell a potential buyer to just offer a lower amount for the home?
How about a decorating/updating allowance?
Will updating the home help it sell faster?
Is updating the home necessary to be competitive in my local market?
A lot of good questions to discuss with your agent!
Sue and I, as realtor's and homeowners, have tried to stay ahead of the curve. Over 15 years in our home we have done many small updating projects. We do it for ourselves to enjoy but we know it could help us sell the property in the future! Appliances first (pay off that expense), Granite next, (pay that off); research then do what needs to be done next. Cabinets? Do what you would like to see when you are looking for that dream home.
So here are two pictures before and after of our Kitchen. What do you think?
If you are looking for property in the North Atlanta, North Georgia, Lake Lanier area, give The Wells Team a call. www.randywellsteam.com
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