New real estate terminology: “imputed equity”
Homeowner “feels” their property is still worth more than what a market buyer will pay
Real estate sales are at the lowest level in decades. There is an impasse between prices sellers are listing their properties and what bona fide qualified buyers are willing to pay. There is major frustration in both camps. Some sellers are resisting making their homes more saleable through repairs, paint, decluttering. etc. Buyers are asking for concessions on top of discounted purchase offers.
Just remember, as a buyer, LOCATION should be your major criteria, since this cannot be changed. A great property location is always salable no matter the market conditions.
Buyers can still get “climate info” on properties through 1st Street and Redfin to make sure they’re aware of all the possible risks of a particular property before even considering it for purchase. Buyers are well advised to get confirmation of their potential insurance costs before submitting a purchase offer.
What is the CMT Paradox & Why Should Sellers Care? Clutter, Money & Time. Think of it this way: Almost everything is junk & will end up in a landfill at some point. How can you live better right now? If your home is being sold, do you really want to move everything? Clearing it out so your potential buyers can “move themselves in” and imagine how they would live in the property gives you “first impression” advantages that are subliminal as soon as a potential buyer walks in!
Think utility more than status when purchasing a home. How will you live in the home? Connection, comfort & convenience may need to become your top homeownership priorities.
Oh, and remember, in either Arizona or Florida, you can eat outside in the winter!
