NEW YORK – May 3, 2011 – About 87 percent of first-time homebuyers prefer a move-in ready property, according to a Coldwell Banker survey, which has real estate agents encouraging sellers to spruce up their homes before putting them on the market.
“It seems buyers will pay a premium, engage in a bidding war and even overpay just to avoid buying a ‘project’ house,” explains Beth Freed of Ridgewood, N.J.-based Terrie O’Connor Realtors.
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Why would a person who is NOT in construction buy a house they have to fix up. They want a move in Ready Home. People want a HOME!
Investors? Give them a big discount and sell it to them cheap and a fixer upper and they are happy to take a house off the owners hands. Even the banks hands. It is very difficult for an investor to deal with the banks. They need to get in house cheap. The investor will take that problem house off the banks records for the right price and if it is done in a timely manor. They will revitalize a neighborhood and create homes. That's what they are good at.
The end buyers want a home. Someplace they can move into today. Not 3 or 6 months after they close paying a Mortgage and Rent and fix ups.
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http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=259451
“It seems buyers will pay a premium, engage in a bidding war and even overpay just to avoid buying a ‘project’ house,” explains Beth Freed of Ridgewood, N.J.-based Terrie O’Connor Realtors.
------------------------------------
Why would a person who is NOT in construction buy a house they have to fix up. They want a move in Ready Home. People want a HOME!
Investors? Give them a big discount and sell it to them cheap and a fixer upper and they are happy to take a house off the owners hands. Even the banks hands. It is very difficult for an investor to deal with the banks. They need to get in house cheap. The investor will take that problem house off the banks records for the right price and if it is done in a timely manor. They will revitalize a neighborhood and create homes. That's what they are good at.
The end buyers want a home. Someplace they can move into today. Not 3 or 6 months after they close paying a Mortgage and Rent and fix ups.
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http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=259451
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