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What homebuyers desire in 2012 Part 2

Home buyers in 2012 have some advantages over prospective buyers in other years: low interest rates and low home prices in most markets. Those advantages don’t necessarily translate into confidence about a home purchase. Buyers want to be sure they are buying a home that will at least maintain its market value, if not appreciate over the coming years. In order to feel more certain about their choice of home, today’s buyers desire a property that meets the three main factors that make a residence a good value: price, condition and location.

Roxanne Gennari, a sales associate with Coldwell Banker Residential Brokerage in Princeton Junction, N.J., says local real estate markets across the country vary in their strength.

“Since no one knows when the market will truly level out and values will start to climb, buyers are trying to insulate themselves from buying an overvalued home,” Gennari says. “Buyers are looking for the best deal they can get. In many cases, they only want to buy if they can get a house at a certain price.”

Buyers want homes in move-in condition

Ben Coleman, broker/owner of Century 21 Hartford Properties in San Francisco, says homebuyers looking for a bargain sometimes think they want a fixer-upper — until they see one.

“Some buyers may be willing to do a little bit of cosmetic work like replacing the carpet or having something painted, but most are looking for a home in ready-to-move-in condition,” Coleman says. “The preference is for a maintenance-free home, although few homes are truly maintenance-free.”

Gary Rogers of Re/Max on the Charles in Waltham, Mass, says the desire for ready-to-move-in homes may be a side effect of home-and-garden television programming.

“People used to love ‘This Old House’ and think they wanted to do their own work, but now they watch shows on HGTV like ‘House Hunters,’ where everyone leans toward homes that are in turnkey condition,” Rogers says.

“Buyers don’t want to deal with contractors,” says Leisa Frye, a Realtor with Better Homes and Gardens Real Estate Metro Brokers in Roswell, Ga. “And they don’t want a paint or carpet allowance. I tell my sellers to do everything before they even think about putting their home on the market.

 

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