Is Your House Ordinary? Extraordinary? Sexy?
Today while on floor duty my broker handed me one of those super glossy real estate magazines full of super high end homes. Most were a $Million dollars or more. Many had wine cellars, ocean views, private indoor and outdoor pools, boat docks ……you’ve seen these.
Sellers almost always think that their house is super extraordinary simply because they own it! Maybe they re-carpeted, painted or simply maintained the property. But this is rarely true, there are few extraordinary houses on the market.
Here’s how most people view houses in the following categories:
Ordinary: the house for sale looks just like the one next door and across the street. It might have fresh paint and some cute flower pots in improve the curb appeal. The new fridge that’s included is just a nice bonus.
Extraordinary: The same house as above has a few extra special features like a jetted tub, a great view, an extra garage or two, granite counter tops the neighbors don’t have.
The issues here are that this house will appeal to more people but may or may not appraise for more than the neighbors.
Sexy: This house has the “wow” factor and is amped up. Most likely the sexy house isn’t a track house and looks nothing like the houses that surround it. It might be a custom house that is more than the floor plan it started out to be.
Historical: This house might have some historical significance to the history of the area. It might also be the house everyone locally knows and loves just because they remember it fondly. This house is going to be hard to get appraised. Most likely the people who buy this house have the money to buy it, no loan needed.
Prime location: We all know this house. It’s the property that was built before the town grew, has the awesome view, the bigger or odd sized lot, sits next to the river where no others can be built. This house will most likely sell for cash and not need an appraisal.
So when you are thinking of selling your house look hard at it. Which category does it fit into? Disregard for a moment how much you want for it.