Michele Gillis
Staff Writer
Selling a home in today’s market is more complicated than ever. Not only do Realtors have to sift through foreclosures, short sales and listings to find a home suitable for sale, they also encounter educated buyerswith plenty of choices.
So, what sells a house in this market?
After surveying numerous Realtors and builders, it seems price, condition, seller motivation and location are at the top of the list.
“The three most important things that help homes sell are price, condition and seller motivation,” said Phyllis Staines of Re/Max Coastal. “You can have the best home in a prime area, but if the home is overpriced, it won’t sell in this market. Cleanliness is also very important. If a home is spotless, priced right, in good condition, and you have a motivated seller, start packing.
“Notice that I didn’t mention ‘location.’ I think this market has shown us that even a good location with an overpriced home is not the attraction it once was in years past.”
Price is very important in this market...buyers want a deal!
“The house has to be the right market price or even lower than market price,” said Ted Mello of Exit 1 Stop Realty. “It also helps if the house is in good condition and ready for move in. The location is still important but the price has to be right. I find very few buyers are ‘in love’ with a house these days but they will buy it if it is at the right price.”
“The price of the home is still the largest driving factor in our market today,” said Amber Williams of Ryland Homes. “At Ryland, our (choice of) floor plans provide our homeowners with the home they want, in the price range they can afford. The architectural and design features in the home are very important not only aesthetically, but for practical reasons as well. Buyers in our market are seeking homes that feature items that help make everyday life a little easier such as solid surface countertops, tile floors, and larger kitchen cabinets.”
“Location is still an important factor when purchasing a new home. Families are concerned with convenience to shopping, quality of schools in the area, and local entertainment.”
Also in new construction, it seems community amenities, convenient location and energy efficient quality construction are important to buyers today.
“Buyers see themselves purchasing a home for a longer stay now,” said Jacki Matthews of Mattamy Homes. “Buying and selling is not perceived to be an easy process and most buyers are purchasing now with the idea of being in their home for a while.”
When buying new construction, buyers are very specific.
“Today’s new homebuyer is a very sophisticated consumer with definite ideas what their needs and desires are based upon the lifestyle they are seeking,” said Pamela Anastasia of Homes by Deltona at Laterra Links.
“Our clients are looking for open floor plans that can provide enough room for their guests to spread out and relax while still providing ultimate privacy such as separate suites.”
Matthews said a buyer needs to feel like the home is beautiful, has excellent value and is in demand and wanted by others.
“They want an appealing community to call home,” said Matthews. “They need to perceive that the investment is smart. They need a home that they are proud of. They also need a floor plan that works well for their lifestyle, even as it changes.”
A gourmet kitchen is a must, said Anastasia, even for the more casual entertainer, with a sunny nook breakfast area, oversized pantries with wood ventilated shelving, a center island work station, cabinetry with pullout drawers for easy access and an open passthru to the grand room.
“Bathrooms elegantly appointed with a roman tub, his and her separate vanities with a sit-down vanity, a glass enclosed shower and high ceiling features with a skylight, Corian countertops are some of the appointments that the buyers want today,” said Anastasia. “The Baby Boomer generation is generally more active and seeks lifestyle. They like to be able to open up doors to let the outdoor in. We provide a sliding glass doors that pocket within the wall for the lake and golf course views.
“The most important thing that impacts our buyers is the assurance that they can lock up their home and feel free to travel knowing that they do not have the maintenance issues to deal with while away.”
Jeff DeAngelis of RocknHomes of Vanguard Realty liked the three ingredients of selling a home - price, location and condition - to a pie.
“A good Realtor understands how to use these three things,” said DeAngelis. “It’s like a pie. Price, location, and condition make up the three pieces. If one of the pieces is smaller, then the others need to make up for the deficiency. For example, poor location can be offset by a lower price and/or better condition than the comparable homes. Houses with less than 100 percent of the pie don’t sell in any market.”
In addition, there are things homeowners can do to make their home more attractive to buyers.
Carol O’Donoghue of All Real Estate Options said to price the home lower than comparable homes and freshly paint the home in updated colors. She also said it helps if the home is maintenance free such as no wood siding, a sprinkler system and a yard in good shape.
A few of the amenities that sell a home in this market include three-car garages, granite, and tile or wood floors in updated size and colors.
“The main factor is that the house needs to be updated and in good condition,” said Mello. “There are lots of ‘just OK’ houses out on the market and plenty of ‘not very good’ houses on the market with the short sales and foreclosures.
“Many buyers want a good price on a home that will not take a great deal of time and effort to get set up the way they would like. In higher end houses (over $400,000,) many owners would like to have three-car garages. Updated kitchens and bathrooms are still the important today.”
The more a home has to offer, the better of its chances of selling as long as the price is in line with the improvements.
“Simple upgrades like new carpet, neutral paint, new counter tops and fresh landscaping go along way,” said Staines. “Three-car garages, a bonus room or a separate office, and additional baths are big pluses. However, homes that are overimproved for their market can actually hurt the resale chances.”
Since the homes Realtors in Northeast Florida sell are located in such a great weather area, covered patios seem to be a big attraction.
“Chef-ready professional kitchens, spa-like bathrooms and screened lanais overlooking water or preserves are very popular,” said Andie Patton of Pulte/Del Webb. “Price per square foot is so important today. Buyers want the most well-built square footage they can get.”
Since there are so many homes, curb appeal is important to get the buyer into the home.
“It goes without saying that curb appeal will create phone calls,” said Kathy White of Re/Max Professional Group/Amelia Island. “Once inside, updated kitchens and bathrooms are a plus. Entry level buyers will appreciate help with closing costs while the higher end have their own wish list including a three-car garage, at least four bedrooms and, if possible, a pool. It makes it tough to sell a home that is in need of repairs or in disarray.”
Also in this market, it is very important to take the time to listen to your buyers and sellers.
“You have to be able to communicate the facts to the seller about the true value of their home,” said Kris Pedersen of Lifestyles Realty Web. “You have to be quick on response back to potential buyers.”
Helping your sellers see what isn’t selling can also be helpful.
“Laminate floors are a huge negative and popcorn ceilings will take a home off a buyer’s list,” said Donoghue.
Mello said high price and poor condition will keep a house from selling.
“Buyers have enough inventory to pick from that they usually don’t have to just settle for something they don’t really like,” said Mello. “However, since short sales make up a large portion of our inventory today, it can still be a tight market for buyers that want a nice house and don’t want to deal with short sales.”
Other things that do not sell a home are overpricing, no marketing and no response to inquiries.
“The top things people want in this market is customer service and not being pushed,” said Peterson. “They want a good deal and great customer service. I can honestly say the way the Realtor can connect to the seller/buyer, listening and following through, will help the sales process.”
Matthews said other things that also keep someone from buying include specific option packages without the ability to choose and short term deals like adjustable rate mortgages or buydowns.
“Homes that are hard to show are usually hard to sell,” said Staines. “Buyers want to see homes on their schedule, not the seller’s. If a home is not in top condition and ready to show when the buyer wants to see it, then it should be taken off the market.”
Though today’s buyers want the best, they don’t always want to pay for it.
“In today’s marketplace, consumers have many choices. They expect to find many luxury features included in the home as standards such as granite countertops, high end appliance packages and hard woods and are turned off by up charges for these items,” said Anastasia.
Sometimes things that keep a house from selling just can’t be changed without making the house unaffordable.
“Things that do not sell a home include a small kitchen, the interior lot backing to another home and bold paint colors,” said Carly Weddle of Davidson Realty. “The top thing buyers want is the best price available, upgrades included, wood or ceramic floors and a nice lot.”
Overall, Staines said buyers want stability, certainty, and value.
“First, buyers want a stable neighborhood,” said Staines. “They don’t want to buy in an area that is rapidly declining with distressed properties.
“Second, buyers want to be certain that they’ve chosen wisely. They don’t want to make a wrong decision and be unable to sell if they need to move sooner than later. If a buyer can not stay put for 5-7 years, they should not buy.
“And last, buyers want value. Buyers want to know that they made a smart financial investment. They don’t want to be surprised with a low appraisal or bad inspection. And they sure don’t want to be the top sale in the neighborhood. All in all, buyers want what we all want when purchasing any goods or services, and homes are no different.”