Priced to Sell and Show Well

The direction of pricing in our current market is no longer “priced right and looking food.”  Rather homes that are “priced to sell and show well” are compelling buyers to take action.

What I have seen a lot of in this ‘recessionary’ market is that buyers have become even more demanding than they ever were before.  They almost have an attitude of entitlement – like it is their turn to be the winners in negotiations.  They take it for granted that they are going to get a good buy and wait and they have no compunction about making low offers and standing firm.

The problem is that with all the choices and the many houses on the market these buyers are often successful with their posture, and if they are not it is not uncommon for them to wait on the sidelines for a better deal on the next one.  Sellers- do you want to wait for a better market or sell now in the market you have?  All homes for sale get “priced” in the marketplace, and the ones we see selling are priced at very compelling values.  Otherwise, there are many houses on the market that are waiting for something to change.  And the problem is that we have learned that change in this market has mostly been moving lower, not higher.

Value seems to be the primary focus of current buyers and can you blame them?  With the present fear in the financial market- everyone is acting more conservative with their investments. Property condition has become secondary to property value.  Perhaps this market has allowed buyers to seek more potential in their home’s condition rather than the appreciating value of the home.

December 31, 2009 · Filed Under Coaching for Buyers, Coaching for Sellers, First Time Home Buyers, How to Choose..., Market/Pricing Assessment, Pricing Your Home, Real Estate

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Best of Tour 2.3.2009

Today we begin again the “Best of Tour” series our old blog site featured last year.  We’ve included a couple of the old posts to continue the  ’conversation’ about what makes a good listing on tour.  This column is all about the notion of what makes a good house . . . . Period!

In these posts we’ll show you the best homes we see on our Tuesday tours – (that’s Portland’s day for brokers to visit and view new listings to be informed and knowledgeable about the current homes for sale).  We may pass from time to time, if nothing is worthy of compliments, and some weeks you may see multiple selections we find compelling.  Our intent is to share a broker’s view of what make a good home:  a well prepared listing, a price based on market realities and a professional presentation of all the best aspects of the property.  In short, a solid home, priced right and ready to sell.

Brokers must see – in person – homes for sale to know what is available to show and sell, and to know how best to match properties with clients.  The old practice was to “caravan” as a group to numerous listings every week.  This model lost favor with the use of the internet and now, many brokers, just like consumers, tour homes online while sipping tea in their jammies.  But we contend that there is no substitute for a physical visit.

All buyers must eventually step inside a home and walk the neighborhood to really know if it is ‘”the one!”  The Jackson Group continues to tour homes on Tuesday because it is worth the effort to stay informed and in tune to market nuances.  We may miss an occasional tour if our clients’ needs are more immediate than  two hours out-and-about, but our promise is to stay plugged in to what is available, attractive and worthy for our clients.

Today’s report.  It was a long tour and I concentrated on the west side and still couldn’t get to all the properties I had marked as interesting.  A sign of the season as well as the times.

Today’s post is a comparison of two nearby homes in Portland’s Westover Heights area.

The first is a fixer-upper at 2833 NW Cumberland listed by friend and colleague Kathy MacNaughton of Realty Trust Group.  It’s a great old Mediterranean designed by one of Portland architectural fathers, Lawrence Ellis.  This house needs absolutely everything – an easy $2-$5 hundred grand on top of the $869,900 asking price!  Why, you ask, do I recommend it?  Well, it has those elements I love; great neighborhood and location, great architecture, untouched original handcrafted character and it is ready to restore so you can do it right.  Buy it and rebuild it, it will be worth the effort!

If a project is not your style, an alternative just a few blocks away is 828 NW Summit listed by Bradley Young of Winderemere/Baldwin Properties.  This one is also a classic architectural style and it has already been renovated to “the nines” so you won’t have to lift a finger.  The price is $1,250,000, so between the two houses you’d probably spend about the same money.

So, which are you, the “fix-it-up-and-make-it-your-own” type, or the “move-in-now” to a beautiful home where the work has already been done for you?  Two good choices!

Becky

February 3, 2009 · Filed Under Best of Tour, How to Choose..., Real Estate

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