Buyers Expectations Are Changing
Real Estate prices are at, or near, their highest all across the country. More people are employed and mortgage lending policies are quite “creative” and accommodating with low interest rates.
A large number of millennials have entered the home buying phase. These young people have good incomes, and are content to spend a lot of $$$ on rent until they find a home with current amenities that suits their contemporary taste. They will not accept homes that need paint, flooring or new appliances. They will pay a higher price to get what they want and will plan to stay in the house for 10 years – which is 3 years higher than the old standard.
So, this creates an opportunity for Investors with skilled labor available to update properties in trendy, but stable areas. Ask your agent to send you foreclosure listings, for a start.
Be sure to have a designer on your team for initial consult as to most saleable floorplan, building materials that deliver the most bang for the buck and color selection. When construction is complete, your designer will “stage” the home to reflect the current lifestyle in your area. The property will sell faster and for a better price, so don’t skip staging.
Stayed tuned here for current real estate insight.
Our link to upcoming Foreclosure Properties: https://www.coastalpropertiesflorida.com/buyers/pre-listings/