12 Reasons Why Vacant Homes Don’t Sell in Today's Housing Market

May 13, 2011 - PRLog -- Would you pay top dollar for a home like this?

The dynamics have shifted in today's market. The old days of listing your house and selling quickly are no longer the norm. Buyers, with the help of regular media reports of "distressed" homes flooding the market, are much savvier today. Their demands will be higher if they are going to pay more than a "rock bottom" price. A vacant home creates a subconscious thought that this is a "distressed sale"- something is wrong with the home, and that unknown factor makes the home worth less in the buyer’s mind. This can create numerous obstacles for you as the seller of a vacant home. However, there is a solution. Companies, such as Arizona Vacant Home Solutions, (remove that)have a plan to aid sellers in this situation. Review these 12 reasons why buyers have indicated they are hesitant about buying a vacant home and how you can make some simple changes to address this problem through a proven alternative to home staging and renting.

1) Buyers buy what others want - they want a home that is well taken care of.
It is human nature to want what others want. Buying tends to be an emotional response. Buyers want a home, a place to share with their loved ones that is warm and inviting. You can never achieve this "feel" or "emotional" response with a vacant property. Studies show that most people cannot envision a vacant home occupied.

2) Buyers have become detectives – vacant homes bring up questions.
Buyers are taking additional steps today, asking neighbors and realtors more background questions about the potential property they are looking at. Many questions come to mind when a home is vacant.  Why is it vacant? Why did prior owners move? Did they move because of a transfer or was the house neglected and the sellers did not want to fix the  problem? Keeping your home occupied tends to show you took care of the property, it is still livable and “move-in ready‟, even after the owners departed. The price always reflects the current condition of the home.

3) Vacant homes show poorly - furnished homes are much more appealing.
Most buyers have a hard time picturing how to place furnishings in specific rooms when the room is empty and void of character. An occupied home is a refreshing change in today’s market and, even if furniture placement is not correct, the buyer can still imagine living there. (That’s why home builders invest in model homes) An occupied home has a different presence, a warm, friendly, and inviting feel. It feels like a home.

4) Vacant homes may smell funny- our sense of smell is a major indicator to a buyer.
A vacant home has the stale smells of a closed up residence. Even worse is the synthetic chemical smell or heavy cleaning odor, meant to „cover up‟ something? Every nick on the wall or spot on the carpet becomes a focal point. Senses become much keener without the “distractions” of an occupied home. Undesirable odors are often a significant deterrent. However, good smells are shown to be positive, like coffee brewing or fresh baked bread and cookies. A house’s smells create a subconscious opinion about a potential home.

5) Vacant homes tend to have missing appliances
If your home is missing washer, dryer, refrigerator, or microwave, the buyers may wonder "What else is missing? What will appliances look like in this home? Will they work? Do the outlets all work?" However, if there are working appliances in place, even if they will not be part of the sale, the potential buyer knows what to expect.

6) Pools and Yards of vacant homes are often neglected - and are not pretty.
If the pool is drained or green and the yard is in disarray your home will not be considered a final contender in the buyer’s eyes. They will discount the value of the property significantly if there are items to repair or bring up to livable condition. Again, buyers have a hard time seeing a distressed situation as livable. An occupied home with a maintained pool and yard is so much more impressive.

7) Vacant homes may have newspapers piled up outside, mail in the box, flyers on the door, pet refuse in the yard and more.
Would you want to pay top dollar for a home that has been neglected? This home looks abandoned and "unwanted". Discount the price again!

8) Homes are made to live in – a vacant home is an unknown.
Would you buy a home that sat vacant for a year? What if there was a small leak, does the a/c work, your mind begins to add up the unknowns. How do you really know that everything is working in the home? An occupied home has the perception that everything is in working order and up to date – Move in ready!

9) Vacant/Distressed homes are all over the news – you must set your home apart from these.
There are so many vacancies and distressed properties today; we hear about them in the news daily. Many buyers do not want to deal with the issues surrounding a vacant home; repairs, updates, work involved to make it ready to live in. They want a home that is ready to move into immediately and are willing to pay a little more for that option. An occupied and well maintained home is refreshing to many buyers and gives you more bargaining power.

10) A vacant home may appear not to be insurable
When a home is vacant and a potential buyer calls their insurance agent - the agent will quote them a price for insurance on the property. However, many times the agent or buyer will want to check the C.L.U.E (Comprehensive Loss Underwriting Exchange). If a report cannot be accessed showing there has been insurance on the property for the last 5 years this, again, may create uncertainty. Some claims can be explained but if nothing can be accessed this could create hesitation.

11) Vacancies have a different response from realtors – most get less showings
Realtors feel relieved and joyous when they actually come across an occupied home in neighborhoods plagued with vacancies, and they're more likely to show these homes. Many realtors are even fearful of showing vacant homes today after hearing stories of muggings and other realtors coming across vagrants and “critters‟  living in the homes. What will they find in there? They also prefer to show a home that will bring a better price (occupied and maintained homes statistically bring about 10% higher prices), which means more money in their pocket. They are motivated to show the occupied homes more!

12) Lastly, occupied homes tend to sell quicker
Statistics show that an occupied and furnished home shows better and will sell faster than a vacant home. How long are you willing to wait to sell yours?  

AZ Vacant Homes Solutions is helping owners of vacant properties all over the metropolitan Phoenix area. They offer an alternative to costly home staging and the headaches of renting with their unique ‘home management’ program. Home Management through Az Vacant Home Solutions puts more money in the seller’s pocket from day 1 because all utilities are paid and the pool and yard are maintained for the homeowner – saving substantial holding costs while the home is listed. The home is ‘staged’ with the home manager’s pre-approved furniture, at no cost to the homeowner.

Savvy sellers understand the market has changed and there are numerous testimonials showing the results of using home management. Staged and occupied homes statistically sell faster and bring a higher sales price! What a great option!

For more information see the website at http://AzVacantHomeSolutions.com or email info@azvacanthomesolutions.com. You can also call 602-456-9020. What are you waiting for?

# # #

Do you have a vacant home for sale or in probate? Don't fall victim to high insurance costs, vandalism, deterioration and reduced home value! Home Management services can reduce your holding costs, help your home sell faster and give you peace of mind!

Get more information about this creative and proven alternative to home staging and renting at http://AzVacantHomeSolutions.com or contact us via phone at 602-456-9020 or email at info@azvacanthomesolutions.com