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Warehouse District Condos, What is the #1 factor in selling your condo!

    Besides pricing your unit correctly, your unit must be updated and ready for sale in all phases.  In the New Orleans Warehouse District most buyers want an updated unit.  It is very hard to sell a unit that has not been updated unless you discount it enough to make it profitable for some else to upgrade and update.  The people willing to do updates are in the vast minority as most do not wanted to get involved in updating.  The fact that most of the new units have come on line in the last 5-6 years are updated with new kitchens and appliances gives fixer-uppers stiff competition.  The more touches that you can make to your condo the better chance that you have at selling it at top dollar.

New Orleans Condos, an updated unit

     People expect to find granite counter-tops, new appliances, nice ceiling fans, modern light fixtures, wood floors, high ceilings, large windows and plenty of light. The updates have to look professional and appealing to most buyers.  This even more true in the lower price units as people want nice updated units even though they are going to be small.  The little things do make a difference.  Your buyers are professionals whose time is more valuable than getting into a  project.  Your buyers are second homers who just want a nice place.  Your buyers lead busy lives and just do not have the time to update.  The expectations are higher.

     By the same token if you are looking for a fixer and you have the ability and the time to update you may find a great unit that needs the work.  New Orleans Condos, staged unitsYou of course would get the discount needed to do the work plus a “Chance Factor”  You however have to update to get the value out of the units.  Most buyers or decision makers are females in the area so get their opinions as to what they like.  Sorry guys but that is a fact in the Warehouse Condo market.  One other factor that is important is the staging of the unit. How clean and decorated with furniture and art will help your unit sell quicker and get the most dollars for your product.  remember many units are small so the right amount of furniture and things need to be to scale.  A professional paint job can do wonders setting your unit apart form the rest.

    The last thing is know who your competition is.  Most or all buyers are going to look a a few units, the best will be sold.  Those that look expensive will not get shown as much, everyone knows the difference.  Those condos that are priced correctly, easy to show, and well done will get the most action and the better sale.

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Eric Bouler Realtor
Gardner Realtors
Metairie - New Orleans, La. USA