What Is Piquing Buyers’ Interest in This Market?

By
Real Estate Broker/Owner with Home Buyers Realty BRE 01247457

Here’s what homebuyers in this fall real estate market truly want.


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As we’ve already mentioned in previous videos, the biggest shift in buyer demand this year has been the desire for more space—a place to put the RV, boat, or other toys, a home office, and an area dedicated to their children’s schooling. The formal dining room has been converted into a classroom, and downstairs bedrooms have been reimagined as office spaces. It used to be the case that single-story properties were all the hype, but in light of everything that’s happened recently, most buyers today covet larger properties with more amenities.

Buyers aren’t looking for fixer-uppers because they don’t have the extra money to polish a property; they’re seeking nothing less than a move-in ready property. A typical first-time buyer entering the market has saved enough money for their down payment and closing costs but not much else. They also don’t have the knowledge or skill set to undertake large projects themselves.

Furthermore, investors don’t seem to be digging into this market all that much, and that’s because as cash buyers, these low interest rates don’t make much of a difference to them. To many investors, it seems more sensible to wait for a better deal?

 

"A typical first-time buyer has saved enough money for their down payment and closing costs but not much else."

 

When it comes to preparing your home for the market, there are some delays you should be aware of. For example, it’s been increasingly difficult to get materials shipped from China on time, which impacts common market-prep upgrades like new flooring or appliances (refrigerators especially). Buyers want homes with new appliances largely because they can’t find any themselves.

As you’re making plans to sell your house, take all of this information into consideration. Buyers will certainly pay for a move-in ready home and leverage it out in their loan, but they don’t have the extra cash to justify buying your home as is.

If you want to talk to us about your specific home selling situation and have us walk around your property to point out some projects that are likely to yield the best return, give us a call—we’ll do it for free. Our job is to maximize your investment, and we love being a resource for you.

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