Fayetteville Homes for Sale–Location Really Matters
There are an abundance of homes for sale in Fayetteville, NC. I have pointed out in my latest posts about the state of the real estate market that although Fayetteville home sales are improving over last year, there are still far more existing homes for sale in Fayetteville than the market can absorb, and new construction homes are selling far better than existing homes.
For existing homes to compete with new construction for buyers of homes in Fayetteville, they must appeal to buyers in some way that new construction does not. Existing homes for sale in Fayetteville must compete mostly in terms of location, price, upgrades or appreciation if they are to be considered by buyers who are making it clear that they prefer new construction.
This week, I listed a bank-owned home for sale in Fayetteville, in the Haymount neighborhood. It is a cute little Cape Cod-style home, 3 bedrooms, 1.5 baths, and it is in average condition.
One would not think this Fayetteville home would be a candidate for multiple offers, over the asking price.
By the time I had listed it in the MLS, drove to the home in a downpour (with warnings of more tornadoes!) and put up the yard sign, I had 3 agents calling me to tell me they were going to write an offer. In the space of an hour, this modest home was surely sold! Of course, more agents called and more offers came in within the day or so it took for the bank to accept an offer.
The reason is clear to anyone who knows much about homes for sale in Fayetteville–this home was located in the heart of Haymount, and it was priced aggressively. Proof of the importance of the location is that the agents called me as soon as it hit the MLS and they knew about it because they had set their alerts to be notified whenever a home was placed for sale in Haymount. (By the way, this is an excellent capability I can set up for you. If you are interested, send me an email.)
Haymount is old Fayetteville, with many small, modest, out-dated homes that people love to buy and renovate. Why? Because it is only minutes to everything in Fayetteville–downtown, mall area, Fort Bragg, etc. And, the homes continue to appreciate even in a sluggish market.
There are so many lessons to be learned here for everybody:
- Sellers of existing homes in Fayetteville–you can compete to get your home sold if your agent can market its strengths, such as location, price, condition, or value.
- Buyers–you must surely consider whether new construction is the best choice if you know you will sell your home in the not-too-distant future. Will that home have appreciated, is it in a prime location, can it compete with all the other homes just like it that will also be for sale at that time?
- Investors–if you are not working with an agent who can let you know within minutes of great investment properties, you will miss out on some incredible values to add to your portfolio.
Fayetteville homes for sale–location is still of prime importance to consider when selling or buying a home in Fayetteville.