🔴 The Five Biggest Turn-Offs For Homebuyers | Bank owned of the week
- Local Market Home Value Report https://hmbt.co/bT7qRJ
- The Five Biggest Turn-Offs For Homebuyers
- What you get for $1MM Santa Clara County
- Bank owned of the week
- Inventory Watch
🔴 The Five Biggest Turn-Offs For Homebuyers | Bank owned of the week
Five biggest turnoffs for home buyers what you get for a million dollars in San Jose and distressed properties in Santa Clara County,
The five biggest home turnoffs Houses sell pretty quick. We know that, right? As long as it's in decent condition, marketed correctly, and priced correctly, right? So there are five things that buyers generally look at when they're looking at homes to buy, and if any of these things tend to jump out and say, eh, Not really what I'm looking for.
It'll sit on the market and we do have houses that sit on the market. I talk about that on Wednesday on my Wednesday lives, we have houses, there's roughly five to 10 percent of the current inventory, which is very low sit on the market for over 40 and 90 days. It's crazy, but it's true because.
Overpricing Your House
You have to set your house up ready to sell you have to show buyers that you're willing to sell Otherwise they're going to be meh and the number one first one is overpricing your house, right?
It says it right there, The most important thing is pricing your house And I know it's ego. I know it's hubris. I know it's one of those things where my house is worth 10 million dollars. It's not worth what you think it is. It's worth what buyers are willing to pay for it, period.
If you have a price at 2 million dollars and it's really worth 1. 5, it's going to sit on the market. And again, if you have it overpriced, it'll sit on the market. I can guarantee you that there are overpriced houses. Some agents tend to take the listing because they're desperate or they're not experienced enough, or they're trying to be nice to the agent, and the seller, and the seller thinks they know better.
And then at the end of the day, makes the agent look like an idiot because We knew better. We told you, Hey, look, this house is worth 1. 5 million, not 2 million. That's going to take a long time. And then the seller goes, I'm okay. I can wait a while and I'm okay to negotiate it down. That might work in other areas but in our area.
In our area, we tend to place it low and let bidders bid it up to what they're willing to pay. That's a standard strategy here. And if you go against the norm, you're going to wind up shooting yourself in the foot, but I'll meet by all means, totally up to you. Totally. Okay.
And I'm not just talking about fish. that you cook the night before or what have you. If you have dogs and they pee or they stink, I have dogs. I know that my couches are their hangout and I know that if and when I ever saw my house, I'm going to throw those couches away because they've destroyed them.
They stink their dogs. They go to the park and roll around in the grass and you don't know what's in the grass. So yeah, any kind of smell. If they happen to pee in a certain area, that area needs to be mitigated. It needs to be repaired. Whether it's a carpet, you have to get rid of that carpet because smells will turn off a buyer faster than the price.
I've walked into houses and they smell like mold. And we're gone in 30 seconds. One, because I think it's a hazard and I don't want my clients, my buyers to walk into a house and sit there for 20 minutes and inhale mold. That's not safe. I'm not going to do that. If it's musty, moldy, smelly, smells like smoke, smells like dog, smells like urine, smells like fish.
So your house is going to sit on the market for a bit cluttered now. Let's take a quick look. Let me hide this real quick. That is clutter right there, guys. That is me living in my house. And I intend on putting it back to make it look decent, to make it look normal, to get rid of all the clutter.
Now I have teenage girls living in my house and they just leave their stuff everywhere. It's the snail trail of my teenage daughters that they leave their food, their cups, their clothes, their shoes, their little hair ties, everything they leave
in the around the house, not in their room and their room is gross, but that's teenage. It doesn't matter what side, but they're yeah. Yeah, get rid of clutter. Now you can see I have a lot of stuff. Again, let me take that down. You can see, I have a lot of stuff on the wall right here, right?
There you go. See, I have a lot of stuff. I recommend no more than three things on any. Surface now. It's a wall, it's a little shelf, it's a desk, it's anything. Anything that people can walk in through. In set. You can have four but really go to three. The rule of thumb is three. Anything more than that? It's clutter,
deferred maintenance. I can tell you I have a list of honey of honeydew list. That's a mile long. We can help you with that. Once you hire us, we'll help you to help you walk through that. I have vendors and contractors and painters, landscapers, movers, you name it. We can handle the whole process for you.
So you can go back to work, hang out with your kids, or deal with your life because I understand that your life is your life and moving shouldn't take up your life. It should take up a little bit of time and energy, but let us do the heavy lifting for you. But anything deferred maintenance, cracks, and walls.
Broken appliances like my microwave don't turn you have to slam it like five times and have that fixed any kind of sockets that don't work or switches that don't work. I have a light in my garage that won't shut off and I have to fix that. So those little tiny things you walk into a house with a buyer and they're like, Oh, this is so pretty.
And they try to switch on the light and the light bulbs are burnt or they can't shut off the. Garage light because it's broken or they can't turn. They're not going to turn the microwave on but things like that little thing like that make them second guess the quality of your house. It's important it really is super important to make sure that you present your house in the best light and Deferred maintenance is a great way to tick people off or get them off on say, you know what?
Dark and Dated Decor
I'm gonna go with another house that looks a little bit better with dark and dated decor My room you can tell is pretty dark and I'm not going to paint it until I sell if I ever sell. I'm just done painting because I used to paint a lot when I was younger. I painted this house seven, eight times and I'm done.
I'm not going to do it anymore. But when I go to sell it, I want to make sure I know what the newest colors are, the latest colors are, but I'm also going to look at the lights and the fixtures and the doorknobs The handle pulls on the cabinets and, the sink, make sure it looks more modern. If the if the counters look dated, I'll replace them.
If the cabinets look beat up, like my kitchen cabinets are pretty beat up now, even though I've replaced my kitchen twice now. Again, teenagers, teenagers, it's just a normal thing. When you go to sell your house, You want to update things, and spend some time you're having, you're going to have to invest some money into selling your house unless you want to sell it as is, but then don't ask for a premium.
It goes back up to price, right? It goes right back up to overpricing it, right? I can sell your house as is repaired or completely turnkey. And those are the three models that we work on. And I show you the differences and I'm happy to help walk you through that entire process. Okay.
What'd you get for a million dollars?
Take a look at Seabiscuit, which is right here. There it is. South San Jose, 95111. That's where I lived in my first house. 95111, three bedroom, two bath, 1, 263 square foot. Feet and built in 1961 active. It's been on the market for five days. This thing's going to go pretty quick this price is nine nine nine nine eight eight I used to live
Right here right there. So I was really close to that house. I live down here now by this park La Colina Park So yeah, let's take a look at the pictures of what you get for a million dollars in San Jose
Ooh, they did new flooring. This looks like the vinyl and they stitched it up. So it was a pattern, not random new lights, or new paint. See, that's what people are looking for.
Looks like they redid the. The cabinet doors. I don't know if they did the cabinets themselves or yeah, maybe they're newer. This looks a little bit more modern. So this looks like it's a flip. I'm interested to see what this looks like when it sells. I would tear all that out.
Get rid of that pergola, get rid of that backyard. Yeah. Okay, there you go. That's what you get for a million dollars in San Jose, California. What you can do in Florida Austin or Dallas. I don't know, but it's crazy. Okay.
Bank-owned properties. I wanted to look at it, I think we looked at Biscayne last week.
Let's take a look. And I don't want to look at that one. Ooh, Half Moon Bay. Yeah. I looked at this yesterday. Half Moon Bay. This is nice. This is a bank-owned property guys, right? It's listed at 1. 5, three bedrooms, one bath. 1600 square feet on a quarter acre lot built in 1951. Now the negative thing to this is that it's on a busy street and if you look it's old wood shingles, right?
But it's okay. This is a total rebuild now when you buy a house like this You obviously have to pay cash because a conventional loan won't do it. You can get hard money you can get investors to throw money into this but the good news is After value after repair value or ARV you get a whole lot more to this now again, you're On the east side of the freeway, but you're on a semi-busy street So you're not going to get a huge value out of it But if you did the CMA, I bet you this typical house would be about two point 1 2.
2. If you look at all the previously sold houses that match all the vitals on this house let's see. How long has it been on the market 76 days pop in an offer for 1 million dollars Let's go if you're interested. Let me know There you go. All right.
Let's quickly look at inventory.
So average for the last year is 256, 257, but we need to have way more to make it a balanced market. We need to have four or 500, 600, or 700 houses for sale at any given time to make it a balanced market, not a buyer's market or a seller's market to make it a balanced market. And that's why prices are holding and not.
Going down, they're going up because the demand that we do have, it's a lot less than what it was two years ago, but it's still far greater than what we have, compared to the available inventory. So yeah, houses will sit on the market if it's overpriced, it smells funny, you have deferred maintenance, doesn't look right.
All that other stuff that we talked about, but these houses are going to dwindle away. And in the next month, you're going to start seeing some more houses pop on the market. But March, April, May is a selling season. And that's really when we go to market. And that's when we see the biggest bump through the whole year.
It's not the, it's not. Always the best time to sell is really when you're ready to sell to be August or October. It doesn't really matter, but again, you have to be price-sensitive based on condition, location, and market condition, right? Cupertino, everything is low right now on the average. If you look at the average and what's active right now, everything is low.
But that's nothing telling. This is just, this is January. This is the beginning of January. It's normal for this to happen, right? People are hibernating, they're skiing, they're working, they're getting, they're finishing up from the holidays. They're getting their kids out of school. My kids are out of school.
I'm going to go take them to the archery range today. I'm going skiing tomorrow. So work is the last thing on my mind right now. On Cape Coral, it's a different story. Different areas have different stories. So if you look at this 6, 500, you might think, Oh, that's crazy. That's ridiculous, that's actually normal for Cape Coral.
Cape Coral is a high-volume place and they're doing fine. Prices do come down a little bit in December. But that's because snowbirds decide that's when they're going to get rid of their house for the next year. After all, they're done going traveling from Minneapolis or, Toledo, Ohio, and going down for the winter.
This is when they get their house ready to sell. And it's normal to see houses over there. This last 30, 40 days on the market versus us. 19. I think that was our average in San Jose.
Yeah, I think it was 19. So yeah, nothing super out of the Chicago is down 200, and New York is down 500 from their average. Four 50 Las Vegas is down. So inventory is normally naturally dropping Knoxville. It looks like something is going on in Knoxville, but that's a great place to stay. My parents lived there.
And it's affordable, right? You can buy a house for 100, 000, 200, 000, 300, 000 still. Jacksonville is a little more expensive. There are houses out there that you can buy for 25, Same thing here in Chattanooga, right? We can take a quick look. See, 80, 000.
That's foreclosure. That's probably, you're not probably allowed to even walk in there.
33 days. So there you go.
Conclusion and Contact Information
All right guys Today we talked about five things that turn buyers off what you get for a million dollars and Bank home properties as well as inventory watch I hope this makes sense if there's anything you're looking for or need to learn more about or want to learn more about Please text me or send me a message or whatever.
I'm happy to have that discussion with you. And if you want to learn more about different types of numbers that I'm not reporting, please let me know. I'm Vito with Abitano. Have a great weekend. We'll see you out there.
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Insider Tips for Home Sellers: Top 5 Buyer Turn-Offs and Real Estate Market Overview
In this engaging home-selling advice video, Vito addresses some key factors to consider when trying to sell a house. Highlighting the top five turnoffs for potential buyers, he emphasizes the importance of correct pricing, managing unpleasant odors, decluttering the living space, attending to deferred maintenance issues, and updating dated décor for a successful sale. He also gives a live example of a million-dollar home in San Jose, demonstrates how to analyze bank-owned properties, and performs an inventory watch of several U.S cities. The speaker encourages viewers to reach out with further inquiries and signifies his willingness to delve deeper into unaddressed aspects of real estate.
0:00 🔴 The Five Biggest Turn-Offs For Homebuyers | Bank owned of the week
00:17 Five Biggest Turnoffs for Home Buyers
01:02 Overpricing Your House
02:26 Unpleasant Smells
03:38 Cluttered Spaces
04:52 Deferred Maintenance
06:13 Dark and Dated Decor
07:19 What You Get for a Million Dollars in San Jose
08:38 Bank Owned Properties
10:03 Inventory Watch
13:12 Conclusion and Contact Information
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2. Highlights Post:
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3. Tips Post:
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