What Is Best Way In Marketing Your Home For Fast Sale
This BLOG On What Is Best Way In Marketing Your Home For Fast Sale Was UPDATED On February 3rd, 2019
Unique homes are normally custom homes that are out of the ordinary. Many unique homes are custom built homes that have been built to suit the owner’s needs.
- Homeowners of unique homes need a special home buyer if marketing your home that is unique and out of the ordinary
- High end and multi-million dollar homes are considered unique homes
- Luxury homes on a farm are considered unique homes
- Unique homes sales have dried up dramatically after the 2008 real estate and credit meltdown
- Financing for unique homes are extremely difficult to obtain
- The home buyer needs to have strong financials to qualify for portfolio loans that cater to unique homes
- Gustan Cho Associates offers financing on unique homes
In this article, we will cover and discuss the best way to marketing your home for a quick sale.
Risks With Unique Homes
There are many types of unique homes.
- Unique homes do not have to be higher-end homes
- A $200,000 market value home can be considered a unique home if it is out of the ordinary
Homes that are classified as unique are the following types of properties:
- such as being on five lots
- being oversized for the area
- a home that has been remodeled out of the ordinary
- homes with more garage space than living space (car enthusiasts)
- homes with a helipad and large pole building
The risks associated with unique homes, whether buying or selling, is home appraisals:
- Many custom-built homes may have issues when it comes to having it appraised
- Homeowners with a one of a kind unique home with no comparable recent sales in the area can run into appraisal issues
An appraiser needs comparable sales similar to the subject home and can only make so much pricing adjustments.
Home Buyers Limited With Unique Homes
Another risk associated with unique homes is that when selling, the target market needs to be that special buyer that will be interested in a unique home.
- Problems like this often happen when a seller has extensively remodeled their home to suit their needs
Examples of these situations include those homeowners who built and customized their homes as follows:
- a second story addition on an existing ranch home
- 12 car garage
- Or have done extensive room additions where they have the biggest house in the block
- Having the largest and most expensive biggest home in the area is not recommended
This is because appraisers will have a hard time finding comparable sales.
Marketing Your Home That Is Custom Unique Homes
Other examples of unique homes include car enthusiasts building a ten car garage where most neighbors having a 2 or 3 car garage.
- Homeowners who need to sell unique homes need to cater to home buyers who are looking for a ten car garage
- Most families don’t need 10 car garages
Home Buyers intending on buying a unique home need to realize that it will take longer to sell out of the ordinary homes. Homeowners who own a unique home need to do some creative marketing in order to be able to sell their homes. Marketing is key to find the right home buyer that is interested in a unique home.
Gustan Cho Associates Mortgage Group has financing available for out of the ordinary homes.