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Wednesday, August 16, 2017

Home Seller Tips: Do you fix it before selling or take a chance?

Rarely does the perfect property exist.    At least in the eyes of most buyers as they are looking reasons (real or not) to offer a lower price!

While new construction homes are not necessarily "perfect," newly built is likely closer to perfect than when a buyer is considering a re-sale home or condo.  Once a property is occupied by people (and pets) it has likely "suffered" degradation from the occupants or the environment.

Early on in the home buying process prospective buyers need to decide how much imperfection they are willing to accept.  
In the current Brevard County, Florida real estate market buyers are competing for move in properties.  Still, move in condition likely does not mean nothing will require attention at some point - now or in the near future.
When choices are plentiful (a buyer's market) then things like dated carpet or some gawd awful tacky wallpaper can cause a property to be stricken from consideration almost immediately.

But when the choices are limited buyers are more likely to think ..."Its ONLY wallpaper!"  Likewise, when the carpet is worn or stained buyers are more likely to say "Its only carpet!"  Still, buyers will expect a reduction in price or an allowance if they must turn around and install new flooring.

Then there are the things that can't be changed. 
  Location, home owner association membership and rules, traffic patterns, zip code, and the like are fixed and should be reflected in the list price. 

Still, the things that can be changed, even if its later, should be carefully evaluated in a tight market.   

Buyers should not let worn carpet, wallpaper or even some ugly paint obstruct an otherwise great prospective "new home" from consideration.

Home buyers, please read  Finding the Imperfect home.

Finally, a few words for home sellers....

Your home may have some flaws due to design obsolescence.  The flaw may be location, traffic, the neighbors (yes, bad neighbors can be a flaw).  It may have some defects as a result of aging.
You can fix some of these issues. 
Some imperfections can be overcome through pricing.  Some can be overcome by proper staging (including removing excess "stuff").   Some can be overcome by repair (yes, fix the AC, the roof, the major show stoppers!).    
A home does not have to be perfect to sell.

Ready to buy a home in Melbourne. Florida?  Call or text me at 321-693-3850.

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