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Buyers - Keep An Open Mind When Looking For A Home

by The Schuman Team

home buyers need to keep an open mind

 

Whenever we first meet with a buyer, we always ask them detailed questions about what they are looking for in a home. Included in our list of questions is "what 3-5 things must your next home have?" We then go on to formulate a list of "must haves" and "wants" in an effort to find them the right match.

In our experience, however, at least 50% of buyers end up buying something that did not fit their original parameters. Although buyers may say they absolutely positively must have something, they will often fall in love with a home that may not have everything they initially said they wanted.

Here are some examples of what some of our buyers initially said they wanted, and what they ended up buying:

WANTED                                              BOUGHT

4 BR home                                           3BR home, with an additional office/den

3 car garage                                        perfect home, but had a 2 car garage

older home with charm                        new construction

home on 1 acre                                    townhouse

home in city X                                      home in city Y

brick colonial                                        vinyl sided ranch

  

Think about this another way. If you are married or have a significant other, is your spouse exactly like you had imagined he or she would be? In our case, my wife wanted tall, dark, and handsome, and got me instead. In fact, she was hesitant to even go on a date with me when we first met because she didn't think I was "her type."  By keeping an open mind, Amy found the man of her dreams ( me ) and 15 years later, we've never been happier.

So, although you may think you know exactly what you want, we suggest you keep an open mind to some suggestions from us on homes that you may not have originally considered.

In the end, you may be surprised at what you end up buying.

Pricing Your Home To Sell, Not Sit

by The Schuman Team

Many area home owners are looking to sell their home for a variety of reasons. Have you outgrown your current home, looking to move into a different school district, or maybe relocating out of the area?  Regardless of the reason for selling, the ultimate goal is to sell, but the challenge for many is knowing how to properly price a home in order to get it sold quickly.

We can tell you with confidence that pricing your home aggressively to sell at the beginning of the listing period will give you a better chance to sell, and for a better price.

Take a look at the chart below: 

 activity vs. time

As you can see, sellers get the most activity on their home during the first 30 days that it is on the market. The reason for this is that the buyers in the marketplace have already defined specifically what they want in a home and have seen everything in their price range prior to your home coming on the market. Once your home comes onto the market, the buyers who are serious will want to see it right away, hoping that their search is over and that your home will be "the one."

The buyers that look at your home during the first 30 days are typically the best because they are ready to buy now. In fact, many times these buyers are so eager to move forward with their home purchase, that they are looking for reasons to buy. If your home is the nicest one they have seen in that price range, it will stand out and a buying decision will often be made. If not, the buyers will move on.  A skilled Realtor should know the competition and will coach you on pricing accordingly.

Sellers who try to "test" the market, or price their homes higher than they should based on "what they need to get out of it" end up losing out on a golden opportunity to sell to these serious buyers. In addition, during a depreciating market when a home is constantly losing value, the longer a home takes to sell, the less money a seller will get for it.

If you really want to sell your home and move forward with your goals, pay attention to the chart and take advantage of the period of time in which you will get the greatest number of showings on your home. As the old saying goes, "strike while the iron is hot".

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Contact Information

The Schuman Team
HOWARD HANNA REAL ESTATE SERVICES
3550 Lander Road
Pepper Pike OH 44122
Dan: 216-346-3235
Amy: 216-403-9189
Fax: 216-456-2333