Buyer Needs in Todays Market

As a seller many home owners are being faced with the fact that many of the buyers in the $300,000 or less range are taking advantage of the current lending conditions and calling upon the use of FHA and many of the downpayment assistance programs available to them in order to buy their "new" home.
Many sellers are being ask to provide closing cost assistance as well as down payment assistance for these buyers in order for their home to sell. Typically buyers in need of this assistance will work with their agent to adjust the price of the home (as long as the market will bear the price increase and still appraise for the appropriate value)
After an agent and their buyers sit down and review all the comps, the neighborhood, value and need of the buyer they may submit an offer asking as much as 7% towards their costs from the seller to help them purchase their new home.
This is a tough market for sellers who are trying to get the max amount for the home, but also trying to meet the needs of the buyers since these seem to be the opportunities most sellers have to sell their home. The typical first time home buyer does not have the needed 5%- 7% to be able to get a house on their own without the sellers assistance and in many cases the sellers do not have any other options for conventional buyers that are putting huge chunks of money down.
One good thing sellers who are not facing foreclosure or short sale can be greatful for are these buyers. 1st time home buyers requesting this assistance do not normally have the money saved in the bank and that is why they are purchasing these turn-key style homes where no immediate money is needed for fixing or remodeling in order to make the home livable.
A majority of the bank owned properties that I have encounter in recent months are clearly in need of major things such as appliances, carpet and paint, I have seen things missing to the extreme, such as air conditioning units, light fixtures and cabinets that would need replacing in order to make the "As Is" Steal that many people believe bank owned homes are reasonably livable.
So keep your head up when you see the banked owned down the street go up for 10-30 thousand less than you want for your property it might not be a BAD thing! In the last few months I have sold Turn-Key Homes for as much as $30,000 more than one foreclosure in the same neighborhood sold for.
What is desirable and looks appealing is still a key player in most Buyers minds!
For a free in home evaluation of your house and what you need to make it marketable... Call me.