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Make Your Ann Arbor Condo a "Button Pusher"

In many markets, condos are harder to sell than single family homes.  Sad but true, for those of us who consider condo sales a major part of our business and who love to promote their advantages - and sad for you if you have one in Ann Arbor that isn't moving as quickly as you'd like.

buttonsAn interesting article quoting analyst Steve Hovany in a recent issue of the Chicago Tribune offered new hope to those selling homes, particularly condos.  He went on to say that the demands of this group could save button, pusherhousing now and for years to come, but that is a story for another day.  Generation Y, the 75.8 million people born between 1946 and 1964, have the income and the lifestyle preferences that mesh well with condo ownership.  What would-be sellers have to do is make their properties "button-pushers" that move would be buyers to action!

What do 20-something Generation Y buyers seek?  In a few words, limited space, with maximum function.  At the point in their lives where they are focused on their career, and often single or with a like-minded partner, they don't want a mansion to clean or an estate to mow.  Ownership in a small condo gives them tax advantages with limited responsibility for maintenance. They can travel for work or pleasure without guilt or worry.  Condos fit the bill.

Raised on technology, X'ers want space to accommodate electronic and fitness toys - the Wii, the blue ray, the computer, the big screen TV, the video games, the treadmill, or the Total Gym - but could care less about having a formal living room or dining room.  If the parents are driving in from Muncie, they; may want to move aside their stuff and set up a dinner table.  They may want to push everything aside for a party.

If you‘re selling your condo, how can you make sure it will appeal to this group of buyers and really "push their buttons"? 

•    First, you should take heed of the advice being given to all sellers these days: stage your home. Declutter it, store extra furniture, depersonalize it so that new buyers can visualize your second bedroom or even your living room as a game room or office. 

•   Second, when you are getting your place ready to list, make sure that there are enough outlets to accommodate potential needs.  If you don't want to add any, at least put away appliances (or unload the surge protectors) that might draw attention to how few there are!

•   Third, if you are replacing counters or floor, go for granite and hardwood rather than Formica and carpet.

•   Fourth, talk with your Realtor® about how emphasizing the flexible floor plan and other features that will be deal-making benefits to them.

Need a Realtor who knows condos?
  Whether you are buying or selling your condo, the Bouma Group can help you with your real estate needs in Ann Arbor, as well as keep you up to date about Washtenaw County and Ann Arbor neighborhoods.  Check out our Condo Hotline to get a handle on the Ann Arbor condo market.

Posted Friday, April 09, 2010 by Martin Bouma