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Old 04-16-2012, 09:53 AM
 
Location: Charlotte, NC
4,761 posts, read 7,839,732 times
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Between the company I work for and a personal house, I have noticed people having what I would consider unrealistic expectations, especially given the price point. Phrases I hear/see used are "needs updating", "too small", among others.

I'm not going to get too much into price, but I will say one is sub-$100k and in great shape. I feel like people are wanting granite tops, stainless appliances, 42" cabinets, the works, which any common sense will tell you, you will not see those items in a sub-$100k house normally, if ever.

Can anyone in the real estate business comment on this? I feel like I am being realistic in what I am asking and where I'll settle, but I'm a little frustrated. I know, the first thing someone will think is that I have my head in the clouds, or what have you, but I don't think that to be the case, and have had numerous people comment to that effect.

So, agents, are you seeing potential buyers being a little too demanding or unrealistic? Watching too much HGTV?
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Old 04-16-2012, 10:04 AM
 
2,778 posts, read 5,168,549 times
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Quote:
Originally Posted by spankys bbq View Post
Between the company I work for and a personal house, I have noticed people having what I would consider unrealistic expectations, especially given the price point. Phrases I hear/see used are "needs updating", "too small", among others.

I'm not going to get too much into price, but I will say one is sub-$100k and in great shape. I feel like people are wanting granite tops, stainless appliances, 42" cabinets, the works, which any common sense will tell you, you will not see those items in a sub-$100k house normally, if ever.

Can anyone in the real estate business comment on this? I feel like I am being realistic in what I am asking and where I'll settle, but I'm a little frustrated. I know, the first thing someone will think is that I have my head in the clouds, or what have you, but I don't think that to be the case, and have had numerous people comment to that effect.

So, agents, are you seeing potential buyers being a little too demanding or unrealistic? Watching too much HGTV?
Hey, it is a buyer's market, why not be picky?
Also the really picky ones most likely are just "kicking the tires", unless a really good deal is offered, they are in no rush to buy.
Who can blame them?

Then you have the "realists" who need to get a house and they will go for best available compromise (they still wished they could hold it longer to get a better deal).
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Old 04-16-2012, 10:05 AM
 
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It's definitely HGTV...

I almost fell for the granite on the counter trick until I started looking at windows, roof etc... plus it was right on Monroe at a bus stop and it was pretty loud.

I ended up buying a house that didn't have Granite.. had old cabinets that were painted over and a floor that had cheap laminate. Why? I really liked the house, area and feel like I can make these upgrades over time...

anyway, the realtor kept telling me she had clients who were being unrealistic and low balling houses because it's a buyers market. There are houses out there with all the bells and whistles under 100K but you are probably on the edge of a bad area. Maybe it goes up... but it may go down. (the area and the price)
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Old 04-16-2012, 10:13 AM
 
Location: Charlotte, NC
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Believe me, I understand about being picky. A home is no small investment. Choose wisely. But where do you draw the line between realistic and unrealistic?
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Old 04-16-2012, 10:25 AM
 
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Originally Posted by spankys bbq View Post
...But where do you draw the line between realistic and unrealistic?
It is the same line between a "need" and a "want"...
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Old 04-16-2012, 10:34 AM
 
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If they were watching HGTV, you'd think the opposite behavior (the realistic one) would be more common. Night after night I see first-time homebuyers express dissatisfaction with the color of rooms (hello? even if they were the perfect color, you'll eventually have to repaint them) or something is not perfect for their two year old (this is what gates and - gasp! - supervision are for for the ten minutes that your child will be small). There was a time when my mother and her friends wouldn't have considered a house that didn't have Harvest Gold or Avacado appliances. Tastes, styles change. Locations, bones, don't.
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Old 04-16-2012, 10:42 AM
 
7,126 posts, read 11,710,164 times
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Quote:
Originally Posted by spankys bbq View Post
Believe me, I understand about being picky. A home is no small investment. Choose wisely. But where do you draw the line between realistic and unrealistic?

The way I did it was simple (realistic or not): I didn't care one bit what the buyer thought or said. It would be my decision how badly I wanted to sell.Easier for me in that I treat houses as a commodity and I'm mearly trading the market.
Difficult for a homeowner of that one house for many reasons. Could be emotional. Could be they don't have the $$ to upgrade. Could be they are already underwater. Could be they are not sure is potential buyer is last person that will walk in.

Simple answer tho.....buyers are unrealistic. In the end they "may" get a good deal or miss the market completly and flog themselves to death.
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Old 04-16-2012, 10:53 AM
 
104 posts, read 304,364 times
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I think buyers should be picky. Like someone else mentioned its a huge investment. Part of the home buying decision especially for first time buyers it to 'kick tires' to determine what they really want and can afford.

As a seller you must determine if you are being too picky on your expectations on value and how long you are willing to wait to get what you want.
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Old 04-16-2012, 10:54 AM
 
3,320 posts, read 5,573,964 times
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Some sellers 'have' to sell. If you don't have to sell you can ask whatever you want.

Most buyers don't 'have' to buy. They can offer whatever they want.

Unless you are in a highly desirable area (south Charlotte?) you may have to wait a long while to get your price.

I am in real estate and learned long ago to buy with my head, not my heart. If I was buying a home now I would decide where I wanted to be and make 'crazy low' offers until someone bites....
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Old 04-16-2012, 10:56 AM
 
15,355 posts, read 12,657,698 times
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Quote:
Originally Posted by pink caddy View Post
The way I did it was simple (realistic or not): I didn't care one bit what the buyer thought or said. It would be my decision how badly I wanted to sell.Easier for me in that I treat houses as a commodity and I'm mearly trading the market.
Difficult for a homeowner of that one house for many reasons. Could be emotional. Could be they don't have the $$ to upgrade. Could be they are already underwater. Could be they are not sure is potential buyer is last person that will walk in.

Simple answer tho.....buyers are unrealistic. In the end they "may" get a good deal or miss the market completly and flog themselves to death.
some buyers are unrealistic...and some sellers are unrealistic...

Unless you are flipping the house it makes no sense to put a bunch of upgrades before putting it on the market.

Unfortunately some buyers don't think a house with a great price without all the upgrades is worth it... even if it cost less to add the upgrades after you buy it and it's in the perfect neighborhood.
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