Location does matter, especially when it comes to buyers. It only makes sense for a buyer to lean towards properties located in a good neighborhood; sometimes even if the property needs work. If your property is in a less desirable neighborhood, before you throw in the towel for your sale, hear us out. The first step to overcome your dilemma is knowing what is considered a bad area.
What makes an area bad?
This is usually based on public perception and preference. For instance, some home buyers would prefer to live close to schools, but wouldn’t want to live next to it. The same goes for living close to public transportation, but living too close could be a problem for others.
Some of the identifying factors in an area that would be detrimental to a property’s value are: industrial properties; utility structures such as waste plants and electrical towers; cemeteries; noise pollution from public thoroughfares (railroads, traffic, airports, freeways) or landfills.
HOW TO MARKET A HOUSE IN A BAD LOCATION
Improve curb appeal
Do everything you can do to distract potential buyers from focusing on the property’s location. You’ll have to entice these buyers by making sure that your home stands out from the others. Highlight your property’s good features. You really can’t control the area where your house is in, but you can control the appearance of your house. In addition, be sure to hire an agency such as The Marketing Heaven to help you emphasize all the benefits of your property and put the location in the background.
If you can manage to create a “screen” for privacy by planting shrubbery along your property line, that would be a plus. An addition of flowers in the yard would be beneficial. Making the home’s exterior look great will add appeal, and value.
When you give instructions to your buyers attending the open house, try to lead them through a route that is the most attractive; maybe there is a neighborhood park, or other site that looks nice, and would be a plus to a potential buyer.
Take staging seriously
Once you’ve got the buyer’s attention, they need to be impressed with your home’s interior. Make the house as inviting as possible. A staged home has the intent of allowing your buyers to envision themselves living in the property. Fresh paint, keeping the house very clean, fixing minor defects, eliminating any odors, making sure the house is bright, some furniture, avoiding clutter will help your house show well.
If you’re still having trouble selling your house, you can offer incentives to buyers. You can offer concessions, like paying some of the buyer’s closing, or finance costs.
If you’re up for it, you can offer financing options to increase the number of potential buyers. Cash, Conventional and FHA mortgages are the usual types of financing. If you were trying to get a cash sale, and decide to open up lender financing, you’ll want to make sure the buyer has a pre-approval from a reputable bank.
Adjust the sales price
Your home may be reasonably priced at market values, but if it’s in a less desirable area, it may be listed too high. You may notice that buyers are making showings to view your house, but no offers. Buyers may like the price, until they see the area. In a case like this, you will be forced to adjust your price, deducting some value for the location, and possibly reducing the sales price of your home.
This should only be a last resort in your home selling venture. It’s better to do your homework before you list your house, and price it right, from the start. Your house could sit on the market, if initially priced too high, and it can be compounded if you wait too long to drop the price. The longer a house sits on the market, the less attractive it is to buyers.
Partner with the right people
Selling a house takes time and detail to understand the process. Living in a bad neighborhood only adds to the long list of things you need to overcome to ensure a successful sale. By teaming up with the right people, you can get your house sold in no time. SellUsHomes is the right buyer that’s non-judgmental and is capable of acting promptly. We can hold our end of the bargain to ensure a fast transaction where your house can be sold AS IS. To learn more, contact us at(734) 224-5947 or send us an email at email@example.com.