What happened to clients that were looking for properties where they could build in some "sweat equity"? Not quite sure everyone even knows what that term means any more.
We used to have clients that were looking for a property they could buy at a lower price, and then fix it up, to a large degree, just mainly with their labor and "elbow grease."
We have found that a large majority of buyers in today's market are looking for a place that is totally updated and very shiny, and they are willing to pay more for something that needs little to no work done on it.
As interest rates creep up a little, and prices continue to rise at a constant rate, the concept of "sweat equity" might start to appeal to the ambitious entrepreneurs of the world again.
It is amazing what a thorough cleansing, minor repairs, paint, new floor coverings, updated appliances and yard maintenance can do for a property!
This concept not only helps buyers get into a better, bigger, well located home for less money, but it also works for sellers that would like to maximize getting the most money possible for their current property.
Sometimes, even the smallest amount of decluttering, cleaning and painting can give their property a much fresher look and help it sell for more in today's market.
If you need help accomplishing the "sweat equity" phenomenon, call Team Black Bear with Keller Williams Mountain Properties and let us show you how you can accomplish your real estate investment and housing goals!
