February 2022 Housing Market Update

Here is the February 2022 Market Update for Hampton Roads, regarding real estate for the region's seven cities of Virginia Beach, Chesapeake, Norfolk, Portsmouth, Suffolk, Hampton and Newport News. More information about market trends and months’ supply of inventory can be obtained from The Real Estate Information Network. Read more here....

January 2022 Hampton Roads Real Estate Stats

10 WAYS POTENTIAL HOME BUYERS GET TURNED OFF

From pet beds to princess castles, there are 10 things that could make your home less appealing to potential homebuyers.

1: GARAGE OR CARPORT TURNED INTO A ROOM

I see this happen a great lot. Most homebuyers want a place to leave their cars or a space to put their belongings. Many men enjoy man caves, and she-sheds are being popular too. So when you transform the garage or carport into a family room, it may turn off buyers. Ask an agent what styles of homes most buyers have been purchasing before making such a change. It may save you time and money down the line.

The garage or carport can be used not just for vehicles, but for yard trimmers, boxes, holiday decorations, and other family things.

2: TURNING A BEDROOM INTO SOMETHING ELSE

There's a motivation behind why a buyer asks an agent, "How many rooms does it have?"

Rooms are important for the home. Move-up buyers or buyers with growing families are regularly searching for another home if they need more space. Sometimes that’s due to having a child, getting married, in-laws or relatives moving in, or they have plans to do things sooner rather than later. In the event that the home can't accommodate what they buyers need, they will move on.

Assuming you need to change a room into an office, den, man cave or game room, try to do so without making it difficult to change it back into a room.

3: CARPET INSTEAD OF HARDWOOD FLOORS

This is a something that will definitely turn off today’s buyer. It was all the rage in the 50s through the 70s, but not today. Many find it to be unsanitary, hard to clean, and a magnet for allergens.

What makes it worse is if the buyer finds out that there are hardwood floors underneath the carpet. For this situation, they may think of what it would cost to pull up the carpet. In turn, this may make one wonder "What’s the condition of the hardwood floors underneath?" Since they can't see the floors, they may imagine it to be awful.

4: YOUR KID’S PAST IS PRESENT

kids-room-with-decals If your daughter had a pink princess room or your son had car stickers and posters all over the room, not removing them and painting spells dollar signs for the buyers. This can be a turn off whether the kids still live there or not. The homeowner should paint the room a neutral color, box up the toys, and remove decals, stickers and posters.

5: TRAMPOLINE OR ABOVE GROUND POOL

These items will not show the backyard in its best light. They often leave dead spots in the grass, and water damage occurs on account of the pool chemicals. Both can be a hazard to children, possibly cause harm.

6: DIRTY DISHES IN THE SINK

Light, bright and clean sells homes. Dishes in the sink are definitely a turn off. The kitchen is normally the main place buyers look at while searching for another home. Assuming you invite them in and you have messy dishes, you can bet that you’ll probably not get an offer for your home.

7: BUYERS TAKING OFF THEIR SHOES

It makes sense that a homeowner would like people who enter the home not to bring the outside elements in. A homeowner has many people coming in during showings.

Still, buyers would rather not be bothered with taking off their shoes each time they enter a home. The solution to this is to have available shoe covers. They can be bought from the hardware store, and they are easy to take off and remove.

8: CIGARETTE SMOKE

Tobacco smoke gets into everything – floors, walls, drapes, furniture, and the AC unit - everything. Moreover, tobacco smoke is challenging to eliminate without special paint and sometimes an extractor. Before you put the house on the market, make arrangements now to remedy this. Also, smoking outside would help. Begin painting rooms where you've smoked. Doing these things will help you with getting as much as possible for your home.

9: PETS

Sorry, but not every person loves animals. A few homebuyers will imagine that your dog’s bed is cute, and some may be tuned off. Seeing what your pet may do in the home, such as seeing their fur, food, urine stains, etc., can be disappointing to the eyes and the nose. Additionally, some people are allergic to cats and dogs. Make sure that all animal toys, beds, covers, and litter boxes are carefully hidden.

One last thing, make sure that your cat or dog is secure in a cage or place in the home where it can’t get out. You don’t want the buyer to open the door and the animal runs away.

10: OLD FIXTURES

What’s old isn’t necessarily new again. Today’s home needs to appeal to today’s homebuyer. If you’re not sure of what needs to go, why not ask your realtor or hire a home stager for advice.

These fixtures may still be working, but if you want to get the most for your home you have to think, “Out with the old, in with the new.” To get as much as possible for your home, you should let them go.

IT'S YOUR HOME… FOR NOW

No one is saying you shouldn’t enjoy your home. Please do whatever you want to do with it. Just remember that occasionally life changes and you might need to move one day. So before you convert the garage into a craft room - if it's not too much trouble, remember to keep your home’s resale value in mind.