Barb Schlinker The Real Estate Voice

Why Buyers Expect a Remodeled Home when they Buy a Used Home?1)     I’m told buyers want move-in ready.  Can they expect that in every home that is for sale?a.      No, but ideally it should be priced accordingly.b.      I have sold over 275 banks owned homes and one of the best pieces of advice I got from one of the Asset Managers was…if the house needs carpet, paint or repairs, adjust the value down at least 3 times the cost of the repair because that is what the buyer will be willing to pay for the house if it needs those repairs.2)     What influences a buyer's demand for updated/remodeled homes?a.      HGTV does not help but I have seen dated homes on that show.  In that case, typically the buyer had cash reserves to update it the way they wanted the home to look like.  Unfortunately, most buyers do not have that vision nor cash.b.      Cash is something that is limited to most buyers.  Typically buyers are using most of their resources for a down payment and/or loan closing costs and moving costs a