Is this clichÃ© true whenÂ it comes to REAL ESTATE??
Is it possible that different buyers will view the same property through different eyes. ??
There was this one bank ownedÂ house for example.Â It listed at below market and was attracting many buyers.Â These buyersÂ were ready to buy andÂ were pre- qualified Â for home loans with reputable lenders.Â
THE FIRST BUYERÂ who happened to be a first time buyer Â commented on the condition of the home, the Â smell, the stained carpets, the patches and nail holes in the walls and such.Â This buyer noticed many of the cosmetic conditions of the home.
BUYER number 2, was an investor having owned severalÂ other Â properties. His view Â was very different from buyer 1. The investor did not care about the cosmetic conditions, but instead was more concerned about Â location, nearness to freeway,Â number of beds/baths and garage.Â
Furthermore, the investor was pleased about theÂ dual pane windows, which let lots of light into the rooms.Â Â All the while thinking of his potential return on investment.Â
For this example, the outcome is easy to guess.Â
Whether you are first time buyer, seller or investor, work with a licensed real estate professional (with REALTOR designation).Â Your Realtor, will Â know the market well and can help you find a home for the price you want to pay.Â Also, beware of the news media, and other 'friends and co-workers- who might give you incorrect advice.
Contact me if you are looking to buy or sell today.Â My expertise extends to homebuyers, home sellers and investors all over the bay area.