A couple of years back I had an out of town buyer looking for the biggest home for the least amount of money. He was shopping price. He did not care much about location at the time. I came across a newer home built adjacent to a commercial area, right behind the home is a fast food restaurant. Looking at home while hungry at me craving the strong smell of burgers and fries.
The house was priced way lower than any other home this age, size and good condition. The buyer acknowledged he was getting a great deal for it's location. Fast forward 3 years and he wants to sell. He knew i was the person to sell it and had me come over. Values are up over 20% in 3 years. The seller then quoted the higher prices of homes 1/2 mile away down the road on the quiet cul de sac section of this area.
The problem is, that his home still sits behind the restaurant. It still smells like fries. He then said that is why he was selling, he cant stand the smell of the cooking any longer.
As we went through the home, he kept quoting the high prices. Sadly I told him what his house was worth. He found it hard to believe his house was worth less than the more Private homes down the street. I took out my pen and wrote down what he paid, multiplied by 120% and showed him the value. Then did the same with those more private homes without the smells and sounds of commercial America.
He lamented he had to sell, that he could not take another morning being woken u before dawn with delivery trucks, dumpster trucks and oh that smell of burgers. The hard truth is all those reasons are why his home is worth less than private home down the street without the sounds and smells. His wife got it. (rounding up) that they paid $250,000 for there home. Today it is worth $300,000. The home in the private location sold for $280,000 3 years ago and is worth $336,000 now. That the equity they built reflects their location.
Back the I told them, that they can buy this home at a discount and when it comes time to sell, they will be selling at a discount. She got it. The wife understand and was ready to list the home. The husband like a giant bucket of water dropping down then got it. "Location matters" he said. He then confessed he had a friends wife who just started in real estate come by who told the the house was only worth $250,000 today. They knew that was low and did not make much sense.
In the end they were happy with my values. They were happy they built $50,000 in equity. They were also happy i did go over future values when they bought. They listed the home with me and need some time to get it ready to show. They will be moving excess furniture out, painting the interior and moving his collection of baseball collectibles into storage. It seems to have taken over the entire lower level of their finished basement,
The MOST IMPORTANT thing in real estate for me, is to provide great service. To stand out from the crowd by being there through each step of the buying or selling process. My message that I want to share in Real Estate, is that my philosophy is simple, to provide more personal and professional service to guide clients through each step of the buying or selling process. All Agents are not created equal and every buyer or seller should take the time to hire the BEST not just the biggest.
To CONTACT Scott Godzyk please call 603.661.2121 or EMAIL: Sctprop@aol.com .
About the Author: Scott Godzyk is the Owner/Broker of the Godzyk Real Estate Services in Manchester NH. Proud to be locally owned and operated with 33 years of experience, Scott is a leading Agent for Listing and Selling Homes in this area.We are Full Time Agents ready to serve all of your Real Estate needs. Servicing Hillsborough, Rockingham, Merrimack and Belknap counties.