Are Buyers Becoming “Condition Sensitive”
I saw a great post on Facebook the other day. It came from a local real estate agent. What she posted was that home buyers in and around Fairfax County have become “condition sensitive”. The point she was trying to make is that today’s buyers want fully updated properties that are move in ready. This backs up the point I was trying to make in a recent blog of my own. Her post went on to point out that even unhappiness with a paint color can now be a topic of serious discussion in our regional home buying process.
This dynamic is one I like to call revenge of the buyer. For so long now, buyers in and around Fairfax County had to put up with less than optimal property conditions because there was simply so much competition. Sellers always had the option to call the next buyer in line who would gladly accept the property in its current condition without any fix up whatsoever. Now, buyers are clearly in the driver’s seat during the home sale process. Updated kitchens and baths are an absolute necessity. New carpet and paint are mandatory as well. Even landscaping has been hotly discussed during one of my most recent transactions. These are conversations that are customary in most parts of the country, but this is a relatively new phenomenon in and around Fairfax County.
The great thing about real estate is that there is absolutely nothing that cannot be fixed with pricing. You can sell any home if the offer price matches the condition. Fairfax County home sellers are just now starting to understand this new reality.
Keller Williams Realty, CDPE, SFR, IMSD