Is Your House Recession-Proof?

When you were shopping for your home, I doubt you were thinking about how hard (or easy) it would be to sell someday. The fact is, that your home's value is dependent on current homebuyer demands, which changes when prices get too high. But that is for all homes, so what's new!?

Just as markets change, so do the buyers. In good times, we have buyers of all types and price ranges coming out of the woodwork to purchase a home. But in times like these, buyers start to cool off after hearing that home values are softening. This mentality is what makes certain types of homes instantly lose value. This mentality isn't necessarily bad since it's probably helpful in other areas of our lives, but this causes most people to take a "wait and see" approach. Especially if you see homes around your neighborhood sitting on the market for too long and not selling.

Just like the leftovers in your fridge, buyers may not take a bite out of a house that has sat on the market for too long.

A good example is a large 3 bedroom home. This is a WANT based floor plan, not a NEED. This type of home is somewhere between 1,900 to 2,300 sqft. Big enough where it really should have a 4th bedroom, but instead has an extra living room or formal dining room. Follow how the average sales price has fluctuated over the past 2 years.

Then compare it with a NEED based floor plan, the same square feet but with a 4th BEDROOM.

Recession-Proof House

The best shot you have at owning a home with rock-solid value is a NEED based floor plan and decent, slightly above average upgrades and finish out. There truly is no such thing as a recession-proof property, but I can tell you which homes will keep or lose value based on the layout and amenities.

So, if you have a home with wasted space, you have options! Before selling, our pre-listing process involves how to take some of the extra space in your home and give it a real purpose. After all, that's what buyers want. And if you give buyers what they want, you will get what you want!

Read more on our unique approach to selling homes like yours RIGHT HERE!

Comments

One-Time Close Construction Loans with Super Small Down Payments!

Have you ever DREAMED of building a Custom Home but assumed it would require a large down payment? A Home Designed to Fit You & Your Budget... Build Your Dream Home NOW! Finally regular buyers can get a truly custom home because of low down payment, one-time close construction loans! Find that perfect piece of land in the perfect location, design your Custom Perfect home and then wrap it all into one easy loan product! For far too long, buyers with only 3-5% to put down have had to settle for pre-existing floor plans or homes. Why compromise on the place where you spend so much of your life? NOW you can design your new home exactly the way you want it... YOUR Style & Design with all the floor plan, layout, features and amenities that fit How You Do Life ! Your Own Custom Perfect Spaces! What will you put in YOUR Custom Home? Master retreats, kitchens straight out of Pinterest or HGTV! Guest houses for an aging parent . ...

Sneak On In and Grab a Bite! The Together Family Kitchen

Every Thanksgiving, I have my routine. As the heavenly smells start coming from the kitchen, it's only natural for me to sneak in and grab a quick bite of whatever tasty dish my wife is cooking up. She doesn't mind, and even kinda encourages it. A little sip here, a bite there and she makes me feel like I've contributed in some way to the process. But growing up, My Mom didn't allow this type of collaboration (which is probably why I enjoy it so much now). She would say, "When it's Finished!" That's what I heard, over and again. What helped her cause was that my childhood home only had an 80 to 90 square foot kitchen , so it's not like I could make my way in there without being noticed. If only it was slightly larger, maybe towards the middle of the floor plan and not locked away in the corner of the house. THEN I would have been more welcome, and what chef wouldn't like a little bit of company as they experiment on different flavors ...

Little Elm Buyer/Seller Guide - No coupon needed for these discounts, just a pre-qualification letter

Everything has changed in real estate over the past 3 months. So how have the rising interest rates affected Little Elm, Texas? The GREEN LINE is the number of sales in each price range. Most sales are happening at the 350k to 600k range. That makes sense, as the majority of 'move-in ready' homes are in that price range. But let's go one step further... How long did it take for those sellers to find buyers? The BLUE LINE is the Cumulative Days On Market, or CDOM. It's great to see that all these homes were sold, but that doesn't tell how long it took for these sales to happen. In a healthy market, the CDOM needs to be in the 15-30 day range. The homes in the 350-600k price range had to wait around 45 days to find buyers. Let's break down what's happening in each price range. $300-350k The 21 or so sales took over 45 days to sell (on average). This is more about the condition of the properties...

Custom Real Estate Blog

Search This Blog