Making Home Values Count

image of money verus houseMany of us have dreamt about the home we will someday own. When the opportunity finally presents itself, our dreams about what is included in our dream home might suddenly change. There is still time to take advantage of the low prices on short sales and REO’s in the Greater Tampa area, although it is turning back into a seller’s market.

Some of the features that typically raise home values may not carry as much weight while the economy is rebounding. Sellers should be prepared to bargain on extra features, unless, of course, the right buyer comes along looking for the same things that first sold the home.

How many times have you heard someone say, “I always wanted a house with a view”? That view might result in your dream home being outside your financial capability, even with the recession prices. If, however, the price is no problem when it gives you what you have always wanted, make a note that in the event you decide to sell the home down the line that may not be the case for prospective buyers.

One advantage of the market right now is that counteroffers are perfectly acceptable. As hard as it might be, do not gush over the house. That will make it hard to convince the seller, whether it is a person, the bank, or an investor, that you are serious about paying less. There is an advantage if you have a Realtor, because that person can advise you of the prices of similar homes in the area with the same features.

Another item with value is landscaping. The problem arises when the buyer is not a fan of yard work and does not want to bear the burden of paying for a yard that looks beautiful, but has too much in the way of shrubs, flowers and other plants that needs care. These two examples show how something with value might lose its charm quickly. Be prepared to negotiate to compensate for the price of the view or the extreme landscaping, and if you feel it is too much to handle, look at other beautiful homes in Tampa Bay.

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Making Home Values Count was last modified: February 11th, 2015 by Lance Mohr

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