Pinellas Realtors on What Buyers Really Want

Pinellas County home values have declined.  Sorry Mr. Seller.   On the upside, there are 11,739 homes for sale in the Pinellas MLS.  In May, 1,289 of them sold.  That translates to an 11% absorption rate which is fantastic news for sellers in that homes marketed effectively and priced right ARE selling faster than they have in years.   But (everything after ‘but’ stinks and Sellers you might not like this), if you’ve got a home to sell in Pinellas - take heed as to what buyers REALLY want now:

1. They always want “a great deal”.   Translated:  Value.
2. Value.
3. Value.
4. Everyone’s downsizing.  It’s the new chic.  If you have a house with extra square footage to romp in – buyers see it as a minus.  Gone are the days when extra room was a good thing.   Now it’s an extra added expense in utility bills and upkeep. 
5. Value.
6. Updated kitchens and bathrooms.  If they ALL don’t have modern fresh cabinets, counters and flooring – then our price better reflect that.  It’s the SINGLE difference – aside from price – that gets buyers to write an offer.  
7. Value.
8. Our palatial mansion is going to be up against the small shack next door.  In many ways, the shack next door is more appealing, if it’s clean, well-staged and offers the same basic features.
9. Value.
10. Did I mention that it’s all about value?  In a buyer’s eyes – value is price versus what they get out of a home.   They want home to feel good.  Are there just enough bedrooms for little Johnny, Jack and Jill?  Maybe Johnny and Jack can share a room.  Terrific!  Is the back yard big enough for a game of catch?   Maybe it does’t need to be big enough for that swingset -because the park is only 2 blocks away and who needs one anyway?  In challenging economic times why over-extend?    

Gone are the days of bigger, better and bragging.  ‘Rightsizing’ is in.  Right pricing is critical.  And here’s more of the ugly truth – even if our home for sale has all of those things – and is being marketed with the most aggressive plan out there – if we aren’t getting 7 to 10 showings per WEEK or offers - we aren’t at the right price.

Buyers – what say you?  Is there anything we missed here?  Help our sellers out by sharing what it is that’s important to you!