|
|
|
|
|
Capturing the Market Interest
A curious timeline of events occurs when a new property is listed on the market. As we are currently in a timeframe when there are ample listings on the MLS, I have been wondering how one shines above the rest. Certain properties are simply unique or outstanding. Traits of these often include great views, popular condominium complexes, oversized lots, or truly magnificent remodels offered at reasonable prices. I would say that these enthusiasm generating properties comprise only about 10% of the market. They typically sell within a couple of months with minimal marketing.
The vast majority of the properties must wait for their owner to find them. These are island condos or homes that are vaguely similar to other condos or homes and are priced appropriately and are in reasonable condition. In other words--"nice" listings.
But, nice listings want quick sales, too. So how does one accomplish this?
When a new listing is initially posted, a certain buzz is created. Agents talk to other agents and an opinion will quickly be established. It’s the old adage about first impressions. If your home is over-priced, under-priced, in need of new siding, or smells like dog, everyone will know in short order.
Thus, the owners of nice listings should consider how to best take advantage of that ever important first phase of the listing timeline. This honeymoon phase is when any property should put their best foot forward. In my opinion, those who truly want their listing sold should also put their best price forward. Most believe that a price can always be reduced. This is true. But, what they don’t consider, is that selling a listing quickly saves money. Add every month of unwanted utility bills, mortgage payments, and homeowners' fees, and the total is a tidy amount. Consider putting a reduced price or a quality bonus on your listing for the purpose of a quick sale. Should that sale not occur in the specified time frame, then take your bonus back and wait.
I have also seen buyers offer to cover closing costs, pay for repairs or remodeling, or offer furniture packages. These little extras may not cost much, but will most certainly help your agent write a more attention getting description.
Say you are selling a cute 2/2 condo, close to the beach with island style furnishings. Sounds great until it is compared with all the other cute 2/2’s. So give a call to action in your ads. Add incentive to your description, and you may reap the benefit of your first advertistments with added calls or showings.
Even if your property doesn’t capture a buyer's interest in the early time frame of the listing, there is still the momentum created by those first memorable impressions. Buyers sometimes take months to make decisions, and many return to a property they had initially passed up. Agents keep a memory bank of possibilities and continue to return to their favorites.
Finding the perfect buyer takes time, and sometimes even the best efforts go unrewarded. Taking advantage of the first phase of your listing, though, often pays off.
Wendy Hauschildt is responsible for marketing and design for Coastal Properties GMAC Real Estate and is also a contributing columnist for the Island Breeze newspaper on South Padre Island.
|
Wendy Hauschildt is a licensed Texas Real Estate agent and columnist for South Padre Island's newspaper.
|
|
|
|
|
 |
 |
| Home Buyer Must Haves – Today
|
|
|
|
|
Number of Views: 12275
These days, buildings are trendy, kitchens are seriously trendy, baths can be elevated to high fashion, and ceilings are certainly cutting edge.
New buyers are demanding that their properties meet high design standards. And it is surprising where the décor fashions are popping up.
The first buyer must have – Ceilings
Popcorn ceilings are now the pinnacle of bad ceiling style. Smooth is in and acoustic popcorn spray is seriously out. This is odd as the new ceiling height expectations make popcorn texture barely visible. 9 – 11 foot ceilings are now the desirable norm. In addition, architecturally accented ceilings are favorable. Add a tray design, raised panel for lighting, or barrel ceiling for maximum trendiness.
The second buyer must have – Lighting
Florescent lights are officially a bad idea. Preferred lighting includes pendant lights, track lighting, and recessed lighting. Additional accent lights are a big deal as well. Buyers like to see under the counter halogens, over the cabinet lighting, or even lit glass cabinets. To combine trends, include accent lighting in your raised tray ceiling design. Bathroom lighting has grown up, too. A row of round vanity bulbs on a mirrored fixture won't meet with buyer enthusiasm. Look for stylized fixtures often flanking the mirror.
The third buyer must have – Bathrooms
A traditional vanity with faux marble top has been met with disdain in recent seasons. Tile top or granite has been better received. Bathroom sinks have changed, too. The pinnacle of trendiness are raised bowl sinks with faucets mounted in the wall above. They may be glass, porcelain, stone, or even wood. They are almost too pretty to spit toothpaste in. Fiberglass shower surrounds are out as well. Buyers prefer a tile or granite surround. Open showers without doors are a unique new trend. Of course, these must be cleverly designed to prevent flooding.
The fourth buyer must have – Flooring
On South Padre Island we don’t see a lot of carpet anymore. Living areas are definitely covered in a hard flooring. Tile, marble, travertine, bamboo, or hardwood are acceptable. Tile sizes have changed, too. Traditional 12 inch tiles are a thing of the past. Now 14 – 24 inch tiles have become the favorite. Colors are fairly neutral, but quality is a big consideration.
The fifth buyer must have – Architectural Elements
New builders have been getting creative. Otherwise vacant walls are now sporting elegant niches. Some may be deep enough for shelves, others are shallow lit spaces designed for displaying art. Door frames that used to be square are now soaring arches. Cathedral ceilings may make room for high sculpture storage, and accent windows are appearing everywhere.
Feeling less than trendy? These kind of specific changes may not be a remodel option for older, low ceiling properties with Hollywood baths and nicheless walls. But don’t be alarmed. Someday smooth ceilings will be sprayed with popcorn again, and owners of high ceilinged homes will be wondering why their electric bills are so high. These trends too shall pass.
|
|
| |
|
 Our Real Estate Advisor magazine is full of articles, real estate trends, and advice. Plus, it includes all the best listings for South Padre, Port Isabel, Laguna Vista, and the SPI Golf Course. Contact us to have a copy of the magazine mailed to you or click here to download a .pdf version.
|
| Previous Advisor Articles
|
|
|
|
|
|
| |
|