Sunday, February 10, 2013

That's What Buyers DON'T Like

As spring approaches, the Metro Atlanta real estate market is seeing low inventory and rising property values. This is opening the door for regular resales to enter the market to compete with the short sales and foreclosures.  With multiple offers on foreclosures and lengthy approvals short sales being common place, this has made a 'normal' sale much more attractive; dealing with a person and not a bank, quick closings,and quick response times to offers.  This has set the stage for homeowners to list their properties in order to break even and possibly (dare I say) make a profit! However, some features of your home, that you think are special, may prove to be an obstacle in getting max dollar for your home.

CARPETED BATHROOMS
NO ONE wants this!!! Get rid of it....


VAULTED CEILINGS
Two story foyers and family rooms make a statement. What you don't want them to say is high energy bills. Provide a copy of your utilities for buyers to see in winter and summer months so they won't overestimate what their potential bills will be.


CORNER LOT
Some look at it as a 'premium' lot with great curb appeal. Most look at it as a lot with typically higher property taxes and an unfavorable backyard.  The best way to combat this is to fence in your backyard to eliminate the guesswork of the property line and to define the space. Planting leyland cypress bushes or trees to create a barrier can sell the idea of more privacy and a better view.

MASTER ON MAIN AND SPLIT-FOYER FLOOR PLANS
Master bedrooms on the main floor are appealing to older buyers or those with health issues.  They do not appeal to young families or those planning to have children because the secondary bedrooms are upstairs and not quickly accessible.  The split-foyer plan gives you additional living spaces & bedrooms like a home with a basement but feels more like a part of the the house. Most buyers don't like opening the front door, being confronted with stairs and having to go up or down. Unfortunately for these two floor plans, buyers will  eliminate them all together from their search so for the buyers who will consider them you will need to play to the strengths of each floor plan. For a master on main, make the master bedroom feel large and the other bedrooms functional an office, gym, or media room. On split foyer floor plan, make the lower level more attractive than the main level.

POOL
A pool can be a gift for parties and gatherings and a curse if you have the pleasure of maintaining it yourself.  The best way to overcome the negative aspects of a pool is to spruce it up and make it look new and well-maintained. Make it appear as all you do is turn it on and swim, little to no maintenance.  Be sure to have extra chemicals and all the necessary equipment (in working order) to pass on to the buyer making them confident that they can maintain it with ease.  You also want to use furniture and accessories to sell it as an additional entertaining space even when you're not swimming.

HOMEOWNERS ASSOCIATION
A homeowner association (HOA) should represent a stable, maintained community, with responsible homeowners that want everyone to be accountable for the neighborhoods condition. The reality is that some HOA's are bankrupt, don't do much to improve the community, and are ran by management companies and not the residents. A large perception of HOA's is that they are overly strict and can become a nuisance as they enforce the bylaws. The best way to overcome this apprehension is to offer a copy of the covenants and bylaws to potential buyers and if you are in a community with rather high HOA fees, consider paying a year's worth of fees as a buyer incentive.