Six years ago when the market was in a dive and there were more  vacant homes than there are now and I wrote an article with this same title that was published in the local paper.  I had just returned from a cold February house hunting trip and several of the homes were vacant and the heat was off.  If you have ever been in an unheated house in the winter you know what I mean when I say you have to go outside to get warm. There is just something about the inside that chills to the bone.  For some buyers an empty home - no furniture - has an analogous psychological effect. 

The presentation matters and it affects the buyers ranking of the home. Will they make an offer or not?  I know, and therefore my buyer-client knows, that a cold home will not generate as high an offer as one that has that warm and fuzzy feeling.  For a buyer willing (and able)  to look beyond the cold emptiness, it can be an opportunity to buy a nice home at a price below the actual value. The caution: Make sure that all the utilities - including heat - will be on for your home inspection.