By now you’re heard that housing prices are at all-time lows and now is the best time to find a good home for a great price. The buyers out there know that for now, with inventory as high as it is, they are currently in the driver’s seat; they recognize that low pricing coupled with the rise in foreclosures and very motivated sellers, they can get a bargain and are willing to work to get the best deal. In turn, sellers realize that there are things that can be done on their end to help entice buyers. Here are a few things that current buyers are looking for:
A home in good condition:
This is listed first for good reason. Buyers don’t want any unknown expenses to creep up on them or hang over their head in the buying process, especially when there is an abundance of other homes out there with less trouble. Simply stated, a well maintained home is the most important piece to the puzzle. Sure, there are people willing to put their money in a “fixer-upper” but with the economic hardships that many people are facing, some may simply not have the extra money to invest in vast improvements after they buy a home. Sellers should repair, update, clean and stage their home before the put it up for sale, in order to remove anything a person may see as an obstacle when buying that home.
Bargains and Incentives:
With the current market the way it is, more and more buyers are negotiating and focusing on getting the biggest bang for their buck. They won’t be settling on a home because they know right now they don’t have to. Many sellers are offering incentives in order to pique interest. From new paint or window treatments, the inclusion of a new flat screen television, or even offering gift cards to certain hardware stores, sellers realize that not only do buyers want low prices, they want something extra. Contributions to the down payment or covering closing costs could especially be of help to a first-time home buyer and it’s something that some sellers have considered in order to get their house sold.
Many people are looking for outdoor living areas, whether that’s a screened in porch, a two-way fireplace or even a just larger patio perfect for outside entertaining. One of these features can be a huge selling point and will make a home more competitive on the market. Other features include more open space, such as the elimination of the wall between the kitchen and family room. Others are looking for a little bit of luxury to the home; granite countertops, stainless steel appliances or marble tile are a must for many people looking to find their next home.
The location and quality of the home is probably going to be the most important thing to someone buying a new house, but there are other selling points out there, and sellers are willingly to do their part in order to stand out from the rest of the pack. There are many homeowners out there who are very anxious to sell their house, especially as they continue to find themselves in a volatile market. The supply is higher than the demand, so a seller really has to get their home in the best selling conditions in order to make sure their place isn’t on the market for longer than they can afford