Find Me A Good Deal

Most real estate agents involved in the St George Real Estate market are frequently askedĀ  by clients and investors to, “Find Me a Good Deal”. When it comes to real estate it seems like everyone is interested in finding a good deal. Unfortunately there is not a search tool that will locate “good deals” in the MLS. Another problem comes in identifying what a “good deal” is. Some people may be happy getting the seller to pay their closing costs, others may not be happy unless the seller drops their price 10% and pays their closing cost. Unlike purchasing a car from an auto dealer, there are many factors that contribute to the sale of a house. In many cases the seller is not selling a piece of property, they are selling a piece of their life. The memories and experiences they have had in the home can sometimes play a role in their decision to reduce their price.

But I Just Put $5,000 Into Plumbing

Unfortunately home repairs like plumbing and electrical repairs don’t bring much in return when the home is sold. The reason for this is, people “expect” things like the plumbing and electrical to work, so the amount put into them is not really a factor and will not increase the value as viewed by most buyers. On the flip side of the coin, if a house is on the market, and the plumbing needs $5,000 in work, most buyers will want a discount to cover the repairs. This is true with most maintenance and repair items. Buyers expect the house to be in working order and are not likely to plan on paying extra for these repairs. If a house is being purchased as a fixer upper, this is another story.

Should I Carpet And Paint?

One misconception in selling a home comes from the seller who thinks it will be better to offer a carpet and paint allowance rather than getting the house painted and carpeted. Most real estate professionals agree that it is better to go ahead and paint and replace the carpet rather than offer the allowance. Most buyers would rather buy, and move into, a freshly painted and carpeted house than have to complete this task in addition to the other list of things to do when moving. It is important for the seller to use neutral colors in both paint and carpet so the new owners belongings will not look out of place. The other more obvious benefit of selling a house that is freshly painted and carpeted is the feel and smell of fresh paint and new carpet, which is a definite plus. A house that has just been carpeted and painted has the feel of a new home. The exception to this would come in properties that are in the million dollar range and up. These buyers are a little more sophisticated, and may want to have more input in decisions regarding color and quality.

 

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