Sellers Ask: Are vacant homes in Dayton harder to sell?

Short answer is “Yes”. Long answer is “Depends”.

Let’s start with the long answer: Dayton investors, flippers, intrepid pioneers often want to see the bones of the home: What do they need to replace, repair, rehab. They don’t care about any emotional attachment to the home because this home purchase is a financial decision. They may not plan on living in it, or they may plan on living in it only long enough to fix and sell for a profit. These are visionaries with a good business sense so they don’t need to see how furniture could be arranged- they can do that on their own. Often these buyers have bought multiple homes, or have extensive construction experience. They look at many many distressed properties and the dirt, smell, and repair issues that scare off most buyers are met with grim determination. As one investor told me “A house that smells like cat pee to everyone else, smells like money to me.” Okay then. Staging isn’t going to impress him much.

Most buyers don’t fall into that category though. Most Dayton buyers think of property as “home”. For these buyers a well cared for property is what they are looking for. They walk into a property wanting that emotional, visceral connection that lets them know their hopes, dreams, loved ones, and life, well be safe and tended to within those walls. The more like home you can make a buyer feel, the more likely they will be to write an offer, and an offer that appeals to you- they want this home.

Discerning sellers take note: RISMedia offers 5 Reasons Vacant Homes Are Tough To Sell In Today’s Market:

1. People don’t simply buy houses; they buy the next chapter of their lives.
This is an emotional experience and emotion influences what people buy and how much they will pay. Vacant houses are devoid of life, and the chance to make an emotional connection is lost.

2. Vacancy distracts buyers from looking at the house itself.
They wonder: “Is this a divorce? Why did they move out? Are they selling because they have money problems? Is this home hard to sell?” They’ll make a low-ball offer, thinking the owner is desperate.

3. When a house is vacant, buyers focus on flaws.
They look at nail holes, carpet wear and gaps in the molding rather than how the space works. In a vacant house, floors, walls and ceilings are all the buyers see. This drives the price down.

Read the rest here.

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