Mike and Maria Homes - Douglas Elliman

head_left_image

Honest Advice From a Property Buyer's Perspective to a property seller

 

Honest advice from a property buyer's perspective to a property seller

old las palmas home


Yesterday we took a potential buyer to view homes for sale in some of the most prestigious areas of Palm Springs: the Movie Colony, Old Las Palmas, and the historic Tennis Club neighborhood. Each of these areas has a very limited number of homes for sale and holds a strong appeal to interested buyers from out of the area. In this blog I'd like to focus on one particular home which we visited.
 
Located in the Old Las Palmas neighborhood, this home had undergone, in my estimation, at least $200K worth of upgrades and remodeling. The kitchen was beautiful, the flooring was a striking gray porcelain tile, the mountain views from the pool were gorgeous and unobstructed, the fireplace was inlaid with hand-selected slate tile- I could go on and on. Listed at just under $1.5 million, this home was move-in ready and had all the qualities you would love in a property, except for one thing...the furnishings. A few pieces worked, but the couches were old and worn, the beds had unattractive comforters, the tables didn't blend with the flooring or the scope of the area they were in, and the gigantic pool area with its amazing mountain vistas and huge bar was entirely devoid of decoration, furniture, or landscaping.
 
When a client enters such a home, he usually sees its potential but is overwhelmed by the enormity of the work and expense that would be involved in infusing this home with character. When he starts trying to figure out how to  furnish the home, his interest begins to wane. Yesterday's client couldn't put his finger on it; he just knew that this home lacked that "wow" factor which is so important to a buyer.
 
My experience in visiting that home yesterday inspired me to write this blog as a vehicle for passing on to sellers some practical advice from a  buyer's perspective. Here are some key points:

1. Potential buyers of quality property are more attracted to homes in which the furnishings and décor complement the original design of the property as well as any remodeling that has been done to it. If this harmony is absent, many buyers find it more difficult to visualize what the home could look like and are less likely to make a great offer.
 
2.  Potential buyers prefer that the seller not be present at the showing; remaining outside or in the garage is not a good idea. The presence of the owner  instantly becomes a distraction and could negatively affect the impact of the property upon the buyer, regardless of the efforts of the agent to minimize the problem.
 
3.  Make sure that the price you set for your property aligns with its appearance, apparent value, and performance level. There is no quicker turnoff for a buyer than  to enter a home that has been priced and advertised as an upgraded property and to be met with egregious imperfections. A buyer in this situation often asks his agent, "Why would I pay such a price to do all this work?" Buyers today have information at their fingertips; they won't overpay for a fixer, even in a great community, if they can get a property in better condition at or near your price.
 

Every seller's situation is different, but this advice should apply in most cases. Too often, honest, critical feedback about a property is shared between a buyer and his agent but is never heard by the seller. You will have a better chance to get top dollar for your home if the property, the showings, the location, and the list price are all aligned perfectly to find and attract that right buyer.

 

 

 mmrealtyteam

 

  

Honest advice from a property buyer's  perspective to a property seller

 

 

 

 

Douglas Elliman

Estates Agents

Mike Patakas | Maria Patakas

760.808.5400 | 760.464.4650 

BRE #s: 01264926 | 01785498

 

Click below to view more of our listings in Palm Springs and surrounding desert cities:

 

Follow us on Facebook

Comment balloon 0 commentsMike & Maria Patakas • April 19 2013 04:35PM
Honest Advice From a Property Buyer's Perspective to a property seller
share
Honest advice from a property buyer's perspective to a property seller Yesterday we took a potential buyer to view homes for sale in some of the most prestigious areas of Palm Springs: the Movie Colony, Old Las Palmas, and the… more
Monterey Country Club - Luxury Condo for Sale in Palm Desert
share
Monterey Country Club - Luxury Condo for Sale in Palm Desert You won't find a home with such high-quality luxury condo for sale renovation at this price in all of Monterey Country Club The homeowner has meticulously… more
3 Key Questions To Ask On Your Listing Appointment
share
3 Key Questions To Ask On Your Listing Appointment Every day we come across listings of great properties, often priced at $400, 000 and up, accompanied by excruciatingly bad photography. At such times we wonder if the owners of… more
How are condos performing in the Palm Springs market?
share
How are condos performing in the Palm Springs market? The beautiful Palm Springs area, has seen a significant boost in the local Real Estate market over the past year. Amongst the rise in home values, condos have also… more
Newer La Quinta Homes For Sale With a Pool Under $400K Hard To Find
share
Newer La Quinta Homes For Sale With a Pool Under $400K Hard To Find With inventory low, it really becomes tougher to find a good deal in the most popular searches of a given area. Finding a newer built (2000-present) La Quinta single… more
5500+ Days on Market Vista Las Palmas Home For Sale- Palm Springs, CA
share
5500+ Days on Market Vista Las Palmas Home For Sale- Palm Springs, CA Newly listed again March 29, 2013, this property has been on market previously over 12+ years according to CDAR MLS and must be worthy of looking at for a… more
Redstone Estate in Rancho Mirage for Sale-Wall Street Journal Video
share
Redstone Estate in Rancho Mirage for Sale-Wall Street Journal Video The Wall Street Journal wrote a nice article on the Redstone Estate for Sale in the Friday, January 28th edition of the Mansions section. As an added bonus, the Wall… more
Residential Real Estate Market Report- December 2012 Coachella Valley
share
Residential Real Estate Market Report- December 2012 Coachella Valley With inventory down significantly from this time a year ago, the number of detached single family homes has not risen (except for Palm Desert) but prices have slowly… more
2013 Palm Springs International Film Festival
share
The 2013 Palm Springs International Film Festival (PSIFF), kicks off today, January 3rd and runs through January 14th. According to the film festival's promoters, the world-wide international Palm Springs Film Festival continues to grow in… more
Private Company/Corporate Luxury Retreat For Sale- Palm Springs Area
share
Private Company/Corporate Luxury Retreat For Sale- Palm Springs Area-Rancho Mirage, CA Having an inspiring space faw away from the hustle and bustle of the office can result in innovation and creativity that can result in a… more