Are we trained?

Written by John on April 19th, 2009. Filed under Uncategorized and tagged with buyer, buyers, house, listings, market, pricing, realtor, sell, sellers, upgrades.

Has the market hit the bottom or are prices still too high? I show houses each day to buyers and I sometimes leave a listing thinking the price should be less? Our minds are now trained to only purchase an item at a discount, which fuels decreased house prices and lower offers. Yes there are some houses priced right and those usually sell quickly, unless they have some single reason or issue. For example settlement issues, bad floor plan, not updated, too much work, etc.. The houses on the market that are stuck in the 60’s, 70’s & 80’s often have longer market times. You know the ones, bright pastel paint, wall to ceiling mirrors, old formica tops, pink ceramic tile and cream paint. Not to say that having those features is a bad thing, its just the way we think? Again, something as simple as new carpet, trim and wall paint, solid surface counter-tops or new appliances take away from the purchase. We want instant information, cell phones, texting and now upgrades. Lets face it, each seller is in a different situation. Its often too expensive or too much to handle to make the updates. For whatever reason, they make a difference. Staging, updating, paint and minor improvements make a house sell. We are now trained, especially my generation (35) and below, to only see the upgrades. We assume all houses should have granite, stainless, wainscoting, deck, master baths, flat screens, etc.. whatever it is that floats your boat. If they don’t, then how can we get them: decrease the price at contract or make the seller pay for them? Hopefully the market being slow will create a surplus of great & updated homes. Who knows, but when a buyer walks in your house, assume they are trained.