We have all heard the old saying about location is everything in real estate. That might be true if you are talking about commercial real estate or comparing a home in Florida to one in Wyoming, but for local real estate, I think there are more important considerations.
Based upon the reactions I have seen from potential buyers, Presentation is the most important single factor leading to a home purchase. Nearly every buyer wants to purchase a home that is move in ready and is not in need of extensive repairs. I know, I know that does not apply to investors or flippers but there are not a lot of those around our area. Most folks are looking for a weekend spot, close to the lake that they can enjoy as second homes. They usually are not willing to purchase a home that needs repairs or even appears to be not kept up.
I once showed several lake houses to a buyer. After the third home the buyer said to me that when he comes to the lake he wants to have a lawn chair in one hand and a cold drink in the other, not a ladder and a paint brush.
If a seller wants a premium price for their home (and who doesn't) then they have to present a premium home. We have all learned to live with certain maintenance items in our homes, that loose tile, cracked window or chipped counter top, but those items are the very issues that cause Buyers to move on to other possibles.
It truly is in the Sellers best interests to make those repairs, clean the house like it was a model home, including the yard. When a buyer sees a well maintained home, the issue of immediate repairs does not enter into their consideration of how valuable the home will be to them. Buyers always buy value and they use their own scale to determine the value. Presentation-presentation-presentation.