Years ago my mentor told me to not sell a home that I can't resale. I have taken that message to heart and I'm always looking for dings that could make a home hard to resale. I'm going to give you a list of some of the major dings that might make your home hard to sale. Mind you this does not mean you won't be able to sell your home if you have these dings but you might have to take less to make it competitive with similar homes that don't have the ding. It also might take a little longer to sell.
- Backing to a road. The good thing on this is you don't have backyard neighbors but the downside is that you have lots of noise.
- Backing to tall power lines. I did not think this was a huge ding until I tried to sell a house that backed to tall power lines. There are many people that just don't want those lines in their back yard.
- All bedrooms up. When we lived up north this was not huge as most homes were built with all bedrooms up. That is not the case in the Spring area as most people want the master down. I have found the same square footage homes will probably sell for $10,000 less with master up and they are usually a little harder to sell.
- Backing to vacant land. You would think this would not be a ding but since our area is unincorporated you just NEVER know what is going to be built behind you.
- Buying a home that is not in a deed restricted subdivision. Again this was not a problem up north as the cities I lived in had restrictions. That is not the case in the Spring area as we are unincorporated. My husband had a co-worker that bought out in the country. Everything was wonderful until the neighbor sold and the new owner decided to open a junk yard.
- A choppy floor plan. I have found that most people want an open floor plan.
- A very small yard. This is okay if you have a patio home but it can make for a hard re-sale if your home is not a patio home.
There are probably other dings but these are the ones that come to mind. As I said this does not mean you won't be able to resale if your home has these dings but it might make it a little harder.
You also might have something in your home that is so incredible that people will look past some of these dings. I personally sold my own home that backed to a fairly busy street quick as we had a drop dead gorgeous backyard.
As your REALTOR® I will point these out and anything else I might see that might make a home hard to re-sale. You can then make an informed decision as to whether this is a ding you can live with or not.
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If you are buying or relocating to Spring Texas or Tomball TXand need help from a professional REALTOR®, Marchel can be reached at Marchel@AgentwithResults.com or by phone at 832-721-8332.
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Copyright © 2010 Marchel Peterson, All Rights Reserved. *Home dings that might make for a hard re-sale!!*
Marchel: you are so right - every home has its own value, but dings do affect the value. Most of the time they are the type of dings that you can't do anything about. Good read.
Hi Marchel, This is an excellent list and all of the items that a seller can't change, so need to be addressed.
Marchel - Great post! I've re-blogged it! BTW, I couldn't think of a better reason NOT to buy a home than having open, unincorporated land next to or around the property I was interested in. Like you said, you never know when someone is going to put a junk yard next to you!
Good points Marchel. I've always advised my buyers to consider resale when they purchase a home.
Marchel, Great advice. It's always one of the items we discuss with our buyers...what may impact your ability to resale? I'm out of Suggest for the day or would be hitting the button! sorry....
Hi Marchel, I hope you had a good trip home and it was very special to meet you in person and spend some time with you while you were here last week.You are a very lovely person and I am so delighted to have had the chance to meet you.
Great points and always a part of my counsel to Buyers. One recent example was a newly wedded couple ( first time Buyers) and the condo they purchased that was in an older complex but was re-done new from the studs out. They paid top dollar to get it because it was virtually 100% new, though still very basic. I reminded them of the example of a car when it is driven off the lot and what happens to the value. I suggested that when I go to sell it in a few years it will not longer be new and perfect so they need to do some capital improvements over the time the own it to be able to expect that their Buyer will pay top dollar over the others available, because it will no longer be the "all new " stand out that it was when the bought it. It is always a risk that other new interiors will exist and making the property special with improvements ( there are a number that would be useful here) and should at least be considered. What makes me feel really good is that they have already made some significant improments. While we can't know the future of any market, keeping the home in it's best possible and improved condition is the best way to protect the value as best we can in any market.
Marchel I agree, I would not have thought that #4 would have been a negative thing. On the other hand #7 would be a big plus in my book because I don't like cutting grass :)
Marchel, Great points affecting resale value. I agree with all of the above, except for the all bedrooms up being a detractor. In this area with a 4 bedroom 2 story, the parents often wish to be on the same level as the kids, unless they are teenagers. They put them in the basement:)
Other than the yard I agree........don't like the maintenance of a large yard, but you hit it on the head for most parts of the country I think
Marchel: Dings are important and sometimes folks don't always take those "dings" into consideration and are surprised after they move in.
Marchel: Great post with many good factors to consider when buying in the first place. Love the cow!
ELLIE, Those dings do affect the re-sale. It is not a huge deal if the people are made aware before they buy; they then expect the ding when they sale.
CINDY, A seller can't change any of these dings; they just have to live with them.
DEVONE, When we moved to Texas we chose the lot that backed to a house rather than the lot that backed to vacant land. We had already been that route once before in Colorado and the entire time we lived there we wondered what the land would become. After we moved it became a church.
DOROTHY, It was wise advice that my mentor gave me years ago! She has now passed on and I so miss her.
LIZ and BILL, I didn't know there was a limit on suggest for a day. I guess you learn something every day.
WILLIAM, I so enjoyed meeting you this last week. It does not surprise me that this would be your counsel to your clients. I loved your example to the young couple.
GEORGE, Vacant land in our area is a big NO NO because of that no zoning. You could have ANYTHING behind you.
STEVE, We bought all bedrooms up when we moved here 14 years ago. My husband at the time was a day sleeper and we could not imagine the master bedroom down with school age children. Now 14 years later we which we had that master down (lol). In all honesty in our area that is a HUGE ding!
ELIZABETH, There are those that like the small yard but the listings I have had with that small yard have been hard to sell.
CARL & CEIL, I don't like surprises. I would prefer that my clients know that they are getting in to a ding situation.
JANE, I loved that cow also. I went looking for bells and when I saw that cow with the bell I knew that I had found the cow bell.
Howdy and evening to you Marchel,
Marchel, folks sure do need to keep their eyes open for any dings, that make mighty hard for them to sale the home later on.
Have a good one
Dale in New Hampshire
Marchel - That's a pretty good list whith some heads up that some buyers just might not think about ..... When Barrie first started in real estate he had a buyer who bought a home backing onto a major highway and it was noisy when he asked the purchaser later about the noise he said it did not bother him and he got a very good home for a lot less than a similar one located away from the highway.
YIKES! These are all difficult obstacles to overcome. The good news is... it is a perfect home for someone! We just have to find that someone!! Blessings!
Marchel yes those are the biggies...location, location, location is #1...
Marchel you hit the nail on the head. Tthese are truly item that can hinder a sale . By the way, even up North as the Baby Boomers age the first floor maste suite is now a must and I suspect all new construction will go this route.
A great post with great points to consider.
Marchel, have a nice day!
Marchel,
I'm now learning that a steep driveway can be a ding in an area with tough winters...
Marchel:
I always look at homes with an eye toward how well it would resell and counsel my clients to do the same.
Power lines are a definite killer. But here most people actually want all of the bedrooms to be upstairs. Different areas perhaps.
Two yellow lines on any road abutting the property the house sets on is generally a negative sign for me.
Marchel, these are very points not to overlook when buyer are considering a purchase. Although, there is a buyer out there for every home, these do limit the possibilities. Good Post!
The buyer really appreciates when you talk them out of a sale, and find a far better location. That will bring lots of referral business down the road. It is a little touchy at times, since I am not the one buying the house. Once in a while I may not be able to appreciate what the buyer sees in the home.
Great information. Thanks for the post!
Good Morning Marchel! I agree that these are all potential dings depending on your area and would second Irene's comment regarding steep driveways. It can be pretty tough to overcome a steep driveway here in Colorado, even with the predominance of four wheel drive vehicles.
Excellent list Marchel and I too have seen that Master up a north and south U.S. peculiarity. Price adjustments fix everything...
Marchel: Indeed, rules and regs vary from state to state. Here in Washington, land use is pretty regulated. A lot of its use is planned from the State, County, City... and CCR's spell out the use within a plat. I used to get so many calls back in the 80's and 90's when the suburbs and rural areas were really growing fast. "Who owns that vacant land in the back?" We were told it was a greenbelt...
We have an Urban Growth Boundary that dictates a lot of what's possible immediately around us in the greater Seattle area. But there are zones that anything can happen. My personal experience was buying my first home in my old neighborhood. A great location, sleepy hollow pocket area. The city council decided to rezone that area of town in its Master Use Plan and designated the area multifamily. Our sleepy little hollow was gone in two years and we were dwarfed and surrounded by apartments and condos.
I learned... it's wise to do a lot of homework before you decide. That's why you are so valuable!
Good list, and to be sure, the property might not be perfect but it sold . . . to the current owners. Perhaps those dings make the price drop in compassion to the ding-less, and although not as desireable, it might fit the needs of a buyer with a budget.
Marchel,
No doubt that this list poses some hindering roadblocks. I would also include unusual smells to the list of physical roadblocks. Regardless, good post and congrats for your featured.... g
Here's another ding...damp basements. Some parts of the country have mostly slab construction but in the North we have basements and they must be dry!
I love this post.. It is definitely something you try to tell your Buyers but they think (at age 25) that this is there only home and they will never sale. But I agree, you have to present it to them if you truly have their best interest at heart..
It is exceptional to have a list of "dings" that will reduce the market price of a listing - especially in this downturn of the real estate environment. These points will help determine market price and give buyers and sellers ideas what to look for when marketing a home or in the buying process!
What a great post with good information, Marchel! A few years ago I wouldn't have thought having all the bedrooms on the second floor would have been a problem. But as I pack on the years, I can certainly see where one day that might be an issue!
Marchel, I would think that the list of dings would be very local, and not so general in nature. Some of the things you mention, like #1 and 2, are definite dings no matter where you are. The others? I am not so sure, especially for #3.
Backing to a road and power lines are two issues I run up against here.
As to subdivisions without deed restrictions, many people actually prefer to have homes without HOAs. However, as our land is mostly built out, you have a pretty good idea of what will be there.
In the boom years, many buyers overlooked dings - indeed, even paid a premium to get into a house - and thought the good times would last forever. Now, not only have many of those houses lost value, but the dings are coming back to bite the owners.
DALE, There are some dings that a buyer can avoid however if the price is right they can often live with the ding.
KATHY, I have also had buyers that bought to a road because the price was right. Unfortunately they did not stay in the house long and then found it very hard to sell. I did warn them and I also did lose the listing when I did not get it sold.
JONI, One persons ding is not another persons ding. You are right it is the correct home for someone; especially at the right price.
TERRILYNN, It is all about LOCATION, LOCATION, LOCATION!!
JENNIFER, Master down has been HUGE here for a long time but I can see with the baby boomers aging how it would become popular up north also.
JOSHUA, Thanks! Many people will buy a home with dings but I think it is good that they are warned so they can know what to expect when they go to sell.
IRENE, The last home we bought when we lived in Colorado faced north with a steep driveway. We bought in the summer and sold in the summer WHEW!!
CLAUDETTE, We have lived in Kansas, Colorado and North Carolina and in all places the master bedroom was normally upstairs. Not so here in the Houston area!! All bedrooms upstairs is a HUGE ding here!
JIM, I hear you! Not only backing to a road but that corner lot on a fairly busy road are big dings.
MICHAEL, I am mainly a buyers agent but I warn and then my buyers can decide.
MICHAEL, There is a buyer for every home; especially at the right price!
MIKE, I remember years ago working with a gal who was looking for serenity. We went out in to the backyard that backed to the road and she closed her eyes and said "yes you are right this is not it"!
DUSTIN, Thanks for dropping by!
DANIELLE, The last house we bought in Colorado had a steep driveway that faced north. I remember running out to my sisters car to head for bible study and slipping on ice (do I need to say more). We sold that house in the summer (lol).
GARY, When we moved here I thought our REALTOR was nuts when she was pushing master down homes on us. I was not in real estate here long before I figured out that the south likes the master bedroom downstairs.
RENE, We have backed up to empty land, a road, a bar, a lake and a house. I did love the lake but if I can't have a lake I will take a house. The entire time we backed up to the empty land we wondered what it would become as it was zoned light commercial. When we moved here we could have bought backing up to vacant land but with NO ZONING we opted for the house. As it turns out The Woodlands bought the land and it now has a greenbelt with houses. We still don't regret our decision as we watched those owners wonder for the last 10 years what was going to go in.
CARLA, When the price is right the owner will go for the ding. I always just remind them that they will need to remember when they sell that they will also have to sell for less.
CHERISE, I agree about the smells but normally that is one ding that can be corrected.
JAMES, We don't have basements in our area but I have lived in areas with basements and you are correct musty basements are a huge ding. In our area a basement would be a swimming pool as we are close to sea level.
SHERILYN, I can remember several houses back thinking that was the last house we would own. Isn't if funny how you think that at 25. Now that I decided to just go where God led we have lived in the same house for 14 years. I do have a ding with my master bedrooms upstairs but I love my house ding and all.
NICHOLAS, I think it is important for the buyers to know what kind of a ding they may be getting in to. They can then make an informed decision.
MYRL, 14 years later (and my husband with knee problems) we have discussed how we wish we had not laughed off the master down homes. Our agent at the time did not tell us however that it was a ding. I let my buyers know it can be an issue; then they can at least say they were informed.
WILLIAM, Ding number 3 is very specific to our area! When we moved here I did not have a clue but in our area it can be a huge ding.
CHRISTINE, When I lived in other areas of the country I was with those who did not want a HOA. Since we don't have zoning in Houston my attitude has totally changed about HOA's. We are dependent upon HOA's to maintain our property values. I realize it is a love/hate relationship at times but we also have lots of different types of HOA's to choose from.
SUSAN, You are so right about the dings and the times. We have been fairly blessed in Houston to not have huge declining values but we still have our dings.
Marchell- Excellent post for any one to read that is thinking of buying a home. If you can not fix what is wrong with a house and its location, do not buy it.
Marchel, so good to see you and with a gold star to Boot. Resale is my mantra to my clients but sometimes they want what they want! Great suggestions here and I hope you have a wonderful Thanksgiving!
Marchel Your third comment intrigues me - we are beginning to see an increasing demand for main level masters here in Northern Virginia. Since the majority of our homes are colonials this requires a major design change by builders
DIANE, It does all come down to location for the most part doesn't it.
RUSSELL, If they want what they want and they have been warned that what they want may be hard to resale I then don't feel bad. I did have a young couple once that bought backing up to a road with me saying I thought it might be a hard re-sale. A couple of years later they decided to re-sale and it was difficult. As a matter of fact I lost the listing (lol). Oh well I never felt bad as I had warned them.
KAREN, Having moved here from the north I had NO IDEA that would be such an issue here. I have not a clue why but that was a huge issue here long before the baby boomers started aging.
Marchel, this is a great list. I knew all these things, but how nice it is to have in a handy little list as part of your sales tool kit! Thanks.
In our area first floor masters are still not that common, but I do see demand increasing somewhat.
Very insightful list! I can see you've sold a few "gems" that required a little extra help. :) I'm in a rural market where I often have to contest with undesirable features that hinder the property sale. I appreciate this post!
I'll be attending RainCamp! See my latest blog post. I look forward to meeting you, Marchel!
Marchel, Good list of items to keep in mind. Before I was in Real Estate, we had a home with our back yard being the power lines. My kids are normal, mostly :) ). We redid our kitchen to a die for kitchen,,,, so when we moved my neighbor said if we ever move to let them know, they will buy it. We did, they did.... my first FSBO experience. They still are living there now. But you are right, alot of people would not want to live that close to power lines.
BARBARA, I have often thought it would be nice to have a list so finally decided to make it.
BERNADINE, Isn't it strange how different parts of the country have different dings. For us all bedrooms up is a BIG ding!
DAVID, I've actually owned a few of those gems myself. Our first home was beside a bar. When we bought we were told there was a permanent injunction and it would never be opened. 2 months later the Dry Dock inn opened for business. We have also backed to a road, vacant land (zoned light commercial), power lines and a lake.
JOAN, We had a home that backed up to power lines also. We had such a wonderful back yard that we sold with no problem. Now I had a listing that backed up to lines without that wonderful backyard and it was hard to sell but we finally found that buyer.
Marchel, nice list and most buyers here want a bedroom on the main level as well. We get a lot of people retiring to the Greenbrier Valley. Congrats on the feature!
Terrific post, Marchel! Main level living - yes, that's a BIG one!
Marchel, I always look at these types of things when buying homes. I've heard that power lines can be considered to be a health hazard, no idea if that's true but I certainly understand that drawback. Here in Redding we have a lot of homes that back up to BLM land meaning that it will never be developed. Vacant land can be a plus......not always.