Thank you to those of you who wrote back last week to respond to the Trivia Question "What does QVC stand for?" At least a dozen sharp subscribers got it right away and several other readers correctly identified two of the three initials. The correct answer was (drum roll please . . .) "Quality, Value & Convenience!" And the lucky winners to two FREE tickets to "Shopping the Musical" are: Penny Robb, Alexandra Manoles, Jason Zeledon, Su-san Lichen and John McWilliams. Thanks again for playing and have a great time at the show!
It should come as no surprise that, Quality, Value and Convenience are also three important staples that drive home prices as well. Gone are the days when buyers conveniently "overlooked" flaws - minor or major - in order to remain competitive in the prevailing marketplace.
In today's more conservative marketplace, even cosmetic blemishes such as old carpeting or an anemic paint job can easily derail a prospective sale. Sellers, resist the temptation to save money by foregoing painting, staging and necessary repairs. The extra effort and investment upfront typically results in additional "value added" to the home and often mitigate any problems an empty or tired house might otherwise highlight (such as sloping floors).
Bring a Quality home to market and you WILL get prospective buyers through it.
Selling quickly; however, depends on where you price a property. Whether the home is "picture perfect" or a total "fixer," price the home appropriately if you wish to attract purchase offers in quick time. (Hint: if your home has been on the market longer than 21 days, chances are its's overpriced!)
While Buyers might wish for the "deal," it's hard to deny real value when they see it. Offer Buyers real Value and you are sure to attract and achieve the best result!
As for Convenience, expect homes with coveted locations to attract stronger interest. Being within walking distance of shops, markets, restaurants and public transportation all add to a home's desirability and Convenience and that's added value as well! (For a quick assessment of your home's walkability score, go to www.walkscore.com)
When markets become less certain, Quality, Value and Convenience become more important than ever!
Julie Gardner, has been writing The Perspective for 18 years and has published more than 670 essays on life and real estate.