The Key to a Home Sale

A ZipRealty study reveals that one in every 150 for-sale listings uses the term “turnkey” to describe the property. The definition and frequency of use of the word, however, varies according to region. To some Realtors, “turnkey” applies to a home that needs no major repairs or renovations; while, to others, it means that all of the furnishings in a home — down to the silverware, window treatments, and artwork — convey in the sale. Turnkey listings peaked in 2009 and 2010 as speculators snapped up foreclosures and flipped them, but they have declined slightly on a nationwide basis since 2012. They are most popular on the West Coast, which has seen a 20 percent jump in such listings over the past year as they have waned elsewhere. Turnkey housing is also more prevalent in vacation markets, where buyers with multiple homes do not want to invest the time to outfit another property. | Read More