May 20, 2011

NAR says Buyers are Passing on ‘fixer-uppers’ in favor of ‘move-in ready’!

Posted in Uncategorized tagged , , , , , , , , , , , , , , at 4:31 pm by winterbaserva

NAR Says Buyers are Passing on ‘Fixer-Uppers’ in favor of ‘Move-in Ready’

I recently came across an article written by the National Association of Realtors reporting that most buyers today are bypassing Fixer-Uppers in favor of houses that are move-in ready. They further state that according to recent surveys ‘87% of first time buyers say they desire a move-in ready home.’

“This is absolutely the story of this market. It seems buyers will pay a premium, engage in a bidding war, and even overpay just to avoid buying a ‘project’ house,” says Beth Freed of Terrie O’Connor REALTORS in Ridgewood, NJ.

According to the NAR’s latest findings, homes that have been spruced up before being put on the market will sell quicker. For the seller this doesn’t mean they will be needing to take out a second mortgage to do major repairs or costly renovations, it simply means they need to put a fresh face on their home before putting up that ‘for sale’ sign in the front yard.

Here is a list of recommendations for homeowners getting ready to put their house on the market:

DO NOT SHOW A HOME BEFORE IT IS READY- ONLY ONE CHANCE FOR A FIRST IMPRESSION
DO UNDERSTAND THAT ‘LIVING IN’ AND ‘SELLING’ A HOME ARE DIFFERENT
DO NOT ALLOW ODORS TO KILL THE ‘SELL’ OF THE HOUSE
PAINT THE EXTERIOR, AND/OR ANY INTERIOR ROOMS THAT NEED IT
MAKE SURE THE ‘CURB APPEAL’ IS THERE- DOOR CLEAN & PAINTED, MAILBOX CLEAN, SHRUBS AND BUSHES TRIMMED, GARDEN AND YARD CLEAN
REMOVE ALL PERSONAL PICTURES, ETC FROM TABLES, REFRIGERATOR, AND BOOKSHELVES
DECLUTTER!
And finally, with buyers looking for move-in ready homes, it is a good idea for sellers to get their homes inspected before they put it on the market so that any major maintenance issues, leaky roofs, electrical or safety issues are discovered and taken care of BEFORE the house goes on the market.

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