Four Ways To Attract South Florida First-Time Home Buyers
A recent survey found that 81 percent of agents thing move-in condition is “very important” to their South Florida first-time home buyers. After the real estate crash now just 7 percent of first-time home buyers want inexpensive “fixer-uppers”. Be aware that most research is done online. A move-in ready house moves fastest. The average first-time South Florida home buyer’s first purchase will be a property between 1,000 sq ft and 2,000 sq ft. So if your property fall into that range theres a great chance you will automatically appeal to this buying demographic! The median downpayment for all South Florida home buyers is 11%, ranging from 5% first-time to 15% repeat buyers.
Maintain & Stage
A well-cared-for property will stand out from all of the vacant or foreclosed properties that are on the market these days.
Experts recommend maximizing your property’s appeal by adding fresh paint, minimizing clutter and eliminating unpleasant odors.
Offer To Pay Closing Costs
There’s a good chance that buyers in today’s soft market will expect sellers to pay some or all of a deal’s closing costs. Being proactive, touting closing-cost assistance right in your home’s listing sheet and other marketing materials. Another good idea: paying “points” to bring the buyer’s mortgage rate down.
Throw in a home warranty. Most first-time home buyers currently rent, which means they’re used to simply calling landlords whenever maintenance problems arise. To help these house hunters transition to home ownership, offer to buy a purchasers a ” home warranty” that covers your property’s major systems.
BONUS: Don’t Snub Low Offers
House hunters know that real estate is hurting, so they’re being very aggressive when bidding on homes – sometimes too aggressive! After all, someone who likes your home enough to bid on it is probably a person you can negotiate with!