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Focus Five: 5 Signs a Home Might be a Bargain

Randal Engelmann & Erik Gould

We are Randal Engelmann and Erik Gould, partners in providing exceptional customer service.

Jul 31 4 minutes read

This week, Erik and Randal are giving some pro-tips to help you spot a bargain when house hunting. These tips aren't just for first-time home buyers! You veteran's out there might want to tune in as well.




TRANSCRIPT:

Erik:

Happy Spring everyone and welcome back to Stay Focused Focus Real Estate's weekly video series.  I'm Erik Gould.

Randal:

And I'm Randal Engelmann

Erik:

And this week we're here to share with you our Focus Five!

Randal:

Five, five, five!

Erik:

This week we're talking about the five signs that a home might be a bargain.

Randal:

Everybody's always looking for a bargain, right? I hear it all the time. I always have to comment and say everything is a bargain twelve months later, right? Because in a rising market where everything appears to be a bargain, you know? Nothing appears to be a bargain when you're buying it and then 12 months later...

Erik:

All hindsight, right?

Randal:

"Whew! I'm glad I bought that house last year!" When you're shopping in the marketplace, there are a few things to look for if you do want to find a bargain even by today's standards. And a couple things to look for as you're perusing. Look for places in a little offbeat location. They tend to be priced a little bit less, you tend to get a little better deal on them.

Erik:

What do you mean by an offbeat location?

Randal:

Everyone wants to be in that prime location, right In the center of things, right in walking distance...

Erik:

... to the T. Into these neighborhood centers.

Randal:

So maybe look for something a little farther from the center or further from the T and you'll take a couple pounds off too trying to get to those places. And you spend a little less money. Who knows?

Erik:

Number Two.

Randal:

Bad photography! We've sold a few houses like this. Saying to our buyer clients "Go and check out this house on such-and-such a street because the photographs suck." It's going to deter people.

Erik:

Right now all of you guys are shopping online and the first thing that you see is the photos online. A lot of buyers dismiss a house just because of the bad photography. It doesn't look good online.

Randal:

Do you like pictures of circuit breaker panels? And heating systems?

Erik:

And toilet seats with the lid up?

Randal:

And dirty laundry is strewn around. Let us know your favorite bad pictures.

Erik:

That leads us to the next one though. Sometimes things just don't show well. 

Randal:

Just poor presentation. Look for things with just poor presentation. And that doesn't necessarily just mean online on the photographs that you see, but when you go to the property. I've shown plenty of homes that were just kind of a mess that were gems, but because the lifestyle wasn't there.

Erik:

If you can look beyond sometimes, just the aesthetics.

Randal:

Indeed. Days on market. Look for things with high days on market. It's not unusual for clients to call us and go: "What's wrong with this house? It's been on the market for 90 days. I don't understand. It seems perfectly fine to me."

Erik:

Sometimes it's just because of those other things we just mentioned that days are high. That might be indicative that there might be some value there.

Randal:

Indeed. Also look for houses and be out looking when no one else is doing it. Holiday weekends, when the weather is bad. All of these odd times.

Erik:

We've helped buyers, a lot of buyers, on weekends like Memorial Day, or Fourth of July, or over the Christmas holiday.

Randal:

Or a national holiday: My Birthday. I mean nothing happens on that day.

Erik:

Well, a few buyers don't take the day off.

Randal:

These are just a few of the tips that we share, of course, with all of our clients. There's a few more.

Erik:

A few more that we like to share with people.

Randal:

A few tricks. Anyway give us a holler, let us know how we can help you out! And don't forget to like us on Facebook.

Erik:

And subscribe to our YouTube channel.

Randal:

And until next time,

Both:

Stay Tuned and Stay Focused.

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