Showing posts with label housing market. Show all posts
Showing posts with label housing market. Show all posts
Monday, February 4, 2013
Thursday, December 27, 2012
Monday, November 26, 2012
Thursday, November 15, 2012
Friday, August 24, 2012
Thursday, August 16, 2012
Wednesday, August 15, 2012
The Trouble with Vacant Homes
By
Ruben Gonzalez Jr.
Prudential California Realty (DBA)
Today’s housing
market makes it tougher to get the price for a home and, often,
sellers can’t wait around while their homes are on the market. They
may have a new job in a different location, may have already bought
their next house or need to move to their new location so the kids
can start at their new schools.
If sellers already
have a new home, it’s likely that they’ll take all their
furniture and leave the property empty during selling process. The
U.S. Census Bureau’s most current data shows that more than 2.2
million for-sale houses in the U.S. were vacant in 2008, and that
number has risen over the last few years as more homes fell into
foreclosure or short-sale status.
Yet it all comes
down to perception for buyers, who understand that vacant homes can
suffer from a wide variety of ills due to neglect and deferred
maintenance. Moreover, vacant houses pose unique
challenges for showcasing and selling because many
buyers cannot see beyond an empty home. They’re looking to buy a
“home,” as opposed to a “house,” and without furniture, wall
art, rugs, lighting and décor, there are few emotional connections.
Plus, with no
furnishing to focus on, a potential buyer will be on the lookout for
imperfections, such as floor scratches, nail pops, chipped grout and
other imperfections.
The easiest fix for
a vacant home is to bring in a home stager, who can give the property
a comfortable, lived-in look, enabling potential buyers to better
visualize how they would use the home.
When a home buyer
perceives flaws and can’t see a home’s potential, there will be
fewer offers, greater price reductions, more days on the market,
higher carrying costs and less profit.
A vacant home can
also hurt your negotiating power. If buyers know that you are already
out and most likely paying another mortgage, they will figure you are
more motivated to sell and will likely present a low-ball offer.
By staging a vacant
home, you will create a proper vision for the property and achieve a
quicker and hopefully more profitable outcome.
Ruben Gonzalez can be reached at (562) 507-0754 or E-mail. Prudential (dba) is an
independently owned and operated broker member of BRER Affiliates,
Inc. Prudential, the Prudential logo and the Rock symbol are
registered service marks of Prudential Financial, Inc. and its
related entities, registered in many jurisdictions worldwide. Used
under license with no other affiliation with Prudential. Equal
Housing Opportunity.
Monday, July 23, 2012
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