Talk me Down - realtor wants us to spend 76K on our house

[PrincessMommy]

This is really stressful. Our house is 30 yrs old. It wasn't built in 2011!! Why do realtors (and buyers!) want us to make our house look brand-new! If they want a brand new house go down the street and spend 200K more for a 2012 edition.

 

Yes, some of the stuff definitely needs to be done. We have a bathroom in serious need of attention and tile work. Our front stoop has come away from the house and sunk. Our HVAC died the week after we moved out and we're replacing the entire system (30yrs old anyway). These will not be cheap.

 

But, we had our college boys paint all the "simple" rooms (rooms where there were no major flaws in the walls). Sure they didn't do a perfect job, but I can go back and fix some of their oopies. But she wants a professional to come through and repaint the entire house to the tune of 11K!!!! :confused: Our roof is nearly 15yrs old. It isn't perfect, of course, but it's fine... She wants us to install a new roof (15K). Anyway, that's just part of the list. Of course, she said "I'm giving you the worst case scenario prices" but then she wants us to do ALL of it. That isn't worst case, IMHO.

 

And those prices don't include new carpet in some rooms and landscaping!!

[Laura Corin]

What's the housing market like in your area? And has the realtor given you any examples of houses that have sold in lived-in condition vs. those that have sold after being updated? Does she think it is unsaleable in its current condition, or that the updates will be compensated for by a much higher price?

 

Laura

[PrincessMommy]

The market has been okay and it's picked up. We live in the DC area and haven't been as nearly adversely affected by the collapse as other places. She even mentioned that she's had buyers looking for houses just below our price range and that all the houses they've looked at currently have contract on them.

 

We do get comps. I think if we lower the price (she wants top dollar) it will sell. Houses without financial issues are selling in a few months with some even selling within a few weeks! That was surprising to me.

 

We own the house outright so we are not desperate to get it out from under us. Although, we don't want to hang onto it any longer than necessary either.

[fairfarmhand]

I'd tell her Here is the money we are going to spend. Which are the most important things to have done.

 

It's not like she can MAKE you spend money on the house, right?

[Carrie12345]

If they want a brand new house go down the street and spend 200K more for a 2012 edition.

 

 

Well, that's the thing. They just might!

 

My house is "only" 20 years old. Even if I updated *everything*, it'd still be a hard sell when buyers have some pretty amazing choices out there. In it's current state, I don't think I could GIVE the place away.

[The Girls' Mom]

I think I would find a new realtor.

 

It is senseless to pay 11K for paint that the new owner will likely paint over anyway. A fresh coat of neutral colors done by yourself should be plenty.

 

I would fix the things you know would come up at inspection and leave it at that. Or ask said realtor if she is paying for the 76K worth of upgrades.

[Janie Grace]

Of course she wants you to spend $ on your house. The more you get for it, the higher her commission. Don't spend what you don't want to spend. I'd do the roof, but beyond that -- it is what it is.

[Renee in NC]

Would $76K get you more than $76K increase in selling price in return?

 

To avoid the headache, I would take the price of a new house (comparable) and subtract $76K from that! :tongue_smilie:

[Serenade]

Do the bare minimum to put it on the market, then sell it yourself "as is."

[Princess Peach]

I'm sorry, but that is ridiculous and I would be seriously irritated. Your realtor works for you, not the other way around. Would you really recoup that money in the sale price? Just tell her what you're willing to do and say no to the rest. You should be in control of the pricing, too.

[athena1277]

What about selling it "as is" and letting buyers know exactly what needs to be fixed? You wouldn't get quite as much for it, but you wouldn't have the headache of getting all those repairs done either.

[pageta]

I would go out and look at some of the houses on the market near your home. That will give you a good idea whether people in your area are doing big upgrades to sell or if they are selling as is, as well as the difference in price ranges between the two. I bought a house that was much in need of basic repairs. It was basic stuff - exterior paint, stove didn't work very well, etc. but still, it wasn't perfect when I bought it but it was perfectly functional. There are people out there who are interested in those types of houses. I sold it about 2 years later for close to 20% more than I paid for it after doing a bunch of basic work (new floor in the kitchen, paint the exterior, clean up the basement, etc.

 

I definitely wouldn't pay $11K to have someone paint it. Most roofs are good for 20 years, so why put a new one on unless it needs it. Yes, it is an old roof, but the increase in the value of your home with a new roof vs old be more than the cost of the new roof?

 

I've seen houses sell with a front stoop that was in need of repair. They might have sold the house for more had they repaired the stoop, but wouldn't they have gotten their money back from repairing the stoop? I don't know.

 

As for the bathroom, that is the one thing I would probably fix. A bathroom that has tile issues just contributes to the ewww factor. I would do the basic repairs and make sure what wasn't repaired or replaced was very clean.

 

And I would fix the oopsies in the paint job. But other than that, unless you want to sell fast or get more money out of your house to put in a new house, I would just leave it at that.

 

And I would go with a different realtor. That realtor doesn't sound like a good match for the house you are trying to sell. Who knows what negative comments she would be saying about it to other realtors...

[Teachin'Mine]

Could you sell it at a higher price than the realtor thinks you can sell it for as is, and then make $$$ back at closing part of the deal? I would want to grab the market while it's good and many homebuyers are cash poor after buying a house. Someone looking for a bargain and some spending money would jump at an opportunity like yours. I'd make the cash back at signing significant - say $40K to $60K and let them know that the owner can use this to fix the items that come up in an inspection - so they don't expect you to fix those first. The only things you may have to fix are anything which would prevent a CO, and I would think that could be subtracted from the amount given at closing. Many buyers would be thrilled to have the money and be able to remodel to their liking.

 

ETA: I would replace the front stoop - and make it in keeping with the newer homes in the area - as you don't want something that suggests structural problems. All the others are really cosmetic, unless the bathroom tiles are broken because of structural issues affecting the floor, in which case I'd do a very neutral tile floor there.

Edited February 3, 2012 by Teachin'Mine

[Bluegoat]

I think your realtor is nuts. It is very unlikely that you will make the money that you spend back on the house. there is something to be said for freshening up a place to make a sale, but what she is talking about is totally different and I doubt it is justified by the economics. But I think people are being really influenced by tv shows and the like with regard to house shopping - there used to be a time you went to look at a house you expected it to be neat and clean - you didn't expect the owner to hide his personal photos.

 

People buying an older place are doing it for two reasons: they like older homes and don't want them to look like trendy new ones; or they don't want to pay the money for new construction.

 

Here is an article on some of the most recent data in the US for the value of home remodels - it may not apply 100% to your area but I think if I were you I'd show it realtor and say you were NOT going to spend that kind of money:

 

Remodel and watch your “investment†plunge in value: 2011-2012 data is worst in 9 years

 

 

 

 

 

[Parrothead]

Would $76K get you more than $76K increase in selling price in return?

 

To avoid the headache, I would take the price of a new house (comparable) and subtract $76K from that! :tongue_smilie:

:iagree: If you aren't going to make up the amount spent with the sale of the house then don't bother. People buy fixer-uppers because they 1) can't afford the new house down the street and 2) like to take on projects like that themselves.

[Down_the_Rabbit_Hole]

Our house was 18 yrs old and well lived in when we went to sell it. We knew it needed work but we needed to leave in a month. We explained it all to the Realtor and he said we could sell it AS IS. HA!, He kept trying to get us to replace this and that, paint, reside, and on and on. Then when we finally got a buyer they wanted about 30K done to the house. What do they think the Home Warranty we bought was for? :glare:

 

Sorry you are having problems. I would just ignore it. We did sell the house. Got almost what we were asking for and we did not make any changes.

[LisaKinVA]

I live in the DC area (outside the beltway), and find it difficult to believe a good realtor would suggest spending $76k on mostly cosmetic repairs.

 

There are two issues at play, time on the market and listing/sales price. Any repairs should function to improve BOTH. Most people buying a house do not want a fixer-upper. A 15yr. old roof will factor into the cost-calculation people are willing to spend... paint will to a lesser extent (but certainly NOT $11k).

 

While our area has been in a growth pattern for the past two years, people are still bargain hunting. The people looking for fixer-uppers will low-ball. People who are looking for a home will pay a fair price, if it's pretty much turn-key (at least that's what I've seen). Getting appraisers to agree on the value of a home...is unreal. In a 5 mile radius, homes of the same size, age, on equivalent lots have values differing as much as $75,000 (we're currently fighting an appraisal, where the appraiser said our house with all hardwood and tile is about the same value as another house with carpet and vinyl, among other things :tongue_smilie:)

 

Conversely, my parents live in a 20 year old home that needs a lot (kitchen, bathrooms, vinyl peeling up, new carpet, paint, landscaping) Yes, they could put it on the market now. It will sell, in about 6 months for about $300,000 (nearly a 3,000 sq. ft. house on 3 acres). If they fix the things that need fixing, they should be able to sell it for closer to $400k in less time (we have a $50,000 budget for materials and labor... about $10k of that is new appliances, light fixtures and faucets...which need replacing, there is something about light fixtures hanging off walls cock-eyed that does not appeal to buyers).

Edited February 3, 2012 by LisaK in VA

[dsmama]

I would also do some things but not all. Paint is an easy do-it-yourself update. Bathrooms can be cleaned really well and new mirrors/fixtures installed without doing a whole remodel.

 

What about a home stager? There are many in the area who will come by, give suggestions about the most necessary items.

 

We used one, and the $200 we spent was worth every penny in reasonable advice. Our house sold its first week on the market for very close to asking price. Just a thought. Here is her web page with lots of tips.

 

http://www.richmondstagingandredesign.com/Contact-Us-Free-Tips-Specials.html

[Cindy in C-ville]

Of course she wants you to spend $ on your house. The more you get for it, the higher her commission. Don't spend what you don't want to spend. I'd do the roof, but beyond that -- it is what it is.

 

My thoughts exactly.

[Sebastian (a lady)]

This is really stressful. Our house is 30 yrs old. It wasn't built in 2011!! Why do realtors (and buyers!) want us to make our house look brand-new! If they want a brand new house go down the street and spend 200K more for a 2012 edition.

 

Yes, some of the stuff definitely needs to be done. We have a bathroom in serious need of attention and tile work. Our front stoop has come away from the house and sunk. Our HVAC died the week after we moved out and we're replacing the entire system (30yrs old anyway). These will not be cheap.

 

But, we had our college boys paint all the "simple" rooms (rooms where there were no major flaws in the walls). Sure they didn't do a perfect job, but I can go back and fix some of their oopies. But she wants a professional to come through and repaint the entire house to the tune of 11K!!!! :confused: Our roof is nearly 15yrs old. It isn't perfect, of course, but it's fine... She wants us to install a new roof (15K). Anyway, that's just part of the list. Of course, she said "I'm giving you the worst case scenario prices" but then she wants us to do ALL of it. That isn't worst case, IMHO.

 

And those prices don't include new carpet in some rooms and landscaping!!

 

I've started looking at houses again, and am in the No Va area. I am in particular looking for a house with an unfinished or barely finished basement (because what we want to do in a basement involves 12+ book cases, not a full bath), and tidy and repaired kitchen and bath. I'm personally a little turned off by high end kitchens and baths, because it gives me the impression that the seller is very emotionally invested and won't be able to come down in price.

 

On the other hand, if my first impression was that the house was not in good repair (sagging stoop) then my mind would be tuned toward other areas of disrepair. They would loom larger in my mind, even if they were minor or were expected for the age of the house. (We're also looking at houses in the 30 year range.) This is the sort of reaction that makes paint jobs worth smoothing out.

 

What is the reason for her wanting a new roof? Our rental has shingles with life in them. Unfortunately, they were put on over old shingles, the ridge vent was taken out, flashing wasn't done correctly, and the underlying plywood is rotting. Our landlord is having to weigh repairs to leaks only vs tearing up and replacing the whole roof to make it solid. Were I looking at a roof on a house we were bidding on, I'd be interested not only in shingle life, but in all the other issues. Does the attic retain moisture and summer heat, for example.

 

This is just us, but I'm more looking for solid and kept up than glitzy. (30 bookcases covers most luxury wall treatments too much for me to care.) But you want to avoid the appearance of run down. Do sellers still offer concessions for paint or carpeting? I remember that being something trendy a while ago. Where the seller would either give cash or concede on the price based on needing new carpeting. But let the buyer deal with picking colors and installation. Maybe that's gone by the wayside.

 

Last thought. We got a little burned by using a roofer a few years ago who had a connection to the real estate office. Not the way I'd go about it again. Not sure what side of DC you're on, but I have had 4 different roofers come through in the last couple weeks. If you want a couple suggestions, I'd be happy to pass along the names of those that seemed competent. In any event, I would encourage you to get plenty of your own estimates before contracting with anyone.

[MariannNOVA]

Have you already signed a listing agreement with her?

 

If not, I would get someone else in there and ask their opinion specifically about the items she wants you to repair.

 

And -- cosmetics, yes, you should spend the time getting the 'oops' stuff taken care of -- the larger structural items that require $$$....those things do affect the price, so if you ar priced accordingly for repairs that need to be made, I wouldn't spend a dime.

 

We had someone here who wanted us to spend $1500. to have our driveway widened.....we told him to make an offer in writing and then and only then would we talk. Never heard from him.

 

Stand your ground.

 

Oh, and the likelihood of your getting an add'l $76 for the repairs you do make is slim to none.:glare:

[PrincessMommy]

We interviewed 2 realtors...neither would talk to us about specifics about fixing up the house until we signed a contract. So, yes, we have contract with her.

 

Thanks for all your words to stand strong. I couldn't believe the price. I was thinking about 20-25K.

 

The bathroom is more than cosmetic. We've had tiles coming off the walls and put plastic up so the kids could shower. The flooring isn't in good shape either. It must be repaired. The other one is our shower stall. It has unslightly brown stain on the floor. I used to have a housekeeper- she tried for years to make it go away without success. The tiles just need a extra good scrubbing and cauking. But if you pull up the stall floor, the tiles come off too (because of the lip).... hence needing to replace tiles. We're going to get an insert.

 

We absolutely would not make 76K back. Not in this market. Between that price, the landscaping, carpeting, and closing costs we would be right back down to the price we paid for the house nearly 20 years ago.

[MariannNOVA]

We interviewed 2 realtors...neither would talk to us about specifics about fixing up the house until we signed a contract. So, yes, we have contract with her.

 

Thanks for all your words to stand strong. I couldn't believe the price. I was thinking about 20-25K.

 

The bathroom is more than cosmetic. We've had tiles coming off the walls and put plastic up so the kids could shower. The flooring isn't in good shape either. It must be repaired. The other one is our shower stall. It has unslightly brown stain on the floor. I used to have a housekeeper- she tried for years to make it go away without success. The tiles just need a extra good scrubbing and cauking. But if you pull up the stall floor, the tiles come off too (because of the lip).... hence needing to replace tiles. We're going to get an insert.

 

We absolutely would not make 76K back. Not in this market. Between that price, the landscaping, carpeting, and closing costs we would be right back down to the price we paid for the house nearly 20 years ago.

 

Here is my advice -- and I won't make you sign a contract with me either -- :lol: -- figure out the mot cost efficient way to get the bathroom repaired/re-done whatever. Fiberglass shower or surround or something. Home Depot will have lists of contractors who probably aren't particularly busy right now.

 

As a prospective buyer, I do not want to see ANY bathroom that needs any work more extensive than changing a roll of toilet paper -- get the bathroom done. Get estimates, figure out what work if any can be done yourself.

 

I would have to go back and read your original post to see the other items were that needed to be addressed -- I do remember paint oops -- you can get a mr. clean magic eraser and take care of those, no?

 

As far as the roof, I would specifically state that the asking price rflects the need for a new roof -- I certainly see that done all the time.

 

There is alot to be said (and you haven't mentioned this) for getting everything out of the house that isn't needed and tossing it or boxing it and putting it in storage or in the garage.

 

But in my opinion, tackle the bathroom -- 'brand new bath' in a listing goes a long way and truthfully, doesn't have to cost a fortune or even alot.

 

ETA: I went back and re-read your post: Fix the paint oopsies - you don't need anyone to charge you $11k -- good grief -- that is insane. Is the realtor getting a kickback?

 

Roof? Yes -- I would get estimates OR I would know that my asking price reflects the need for a new roof -- if you go that route, have the estimates on hand so the exact cost can be verified (we did this once on a house that needed a paint job).

 

Porch -- get that fixed -- it just opens a Pandora Box of stuff for buyers to see that just make them uncomfortable.

 

Landscaping: You can do this yourself when the weather improves: get small, nice shrubs at Home Depot or Lowe's, mulch, and make everything look nice -- but don't do this now -- you have to wait till it gets warmer. In the meantime, if you have to, you can put pots of snow pansies, but truthfully, it's winter! People need to get a grip. I had a buyer last week complain that although my house was perfect inside, she hated the fact that everything was brown and dead outside -- well, it's freaking winter, is that MY fault?!

 

I think that your original personal estimate of $20k or so should get you in ship shape if you do alot of the work yourself. Good Luck -- you can do it.

Edited February 3, 2012 by MariannNOVA

[SailorMom]

Paint - yes - the paint needs to be clean and neat. Messy paint looks worse than old pain. The baseboards need to look nice, paint should not be on the outlet covers, etc. But that can all be done yourself....

 

Roof - a 15 yo roof may not pass inspections. Have you had it inspected? 15 yo is kinda old for a roof if it is comp shingle. I know they say 20 years, but that is a best-case scenario, and if you live in DC you get really hot summers and winters cold enough for snow. All of that will shorten the life of a roof. That said - we have never paid anyone to do our roof, we always do it ourselves and it costs no where near what you were quoted.

 

Bathroom - yeah - that has to be done.

[DawnM]

Well, I would NOT spend that kind of money....what if you can't sell and then you are stuck with that bill?

 

Fix the paint

Fix anything that might be actually broken

Sell as best you can

[Ferdie]

We sold an older home in CA. We interviewed 4 realtors, and part of the interview process was to tour the home and have them give us their fix-it wish list. It was very informative and helped us determine what really needed to be done. It took a while to meet with each of them but we ended up selling our home for more than we thought we would get.

[Shawn On the Border]

I wouldn't put a lot of money into a house to sell it. I have learned my lesson. Last year we worked very hard to get our house ready to sell. My husband painted the whole inside, and made many repairs (he took almost a month off of work). We did a lot of landscaping- trimming bushes, spreading expensive crushed rock, clearing out dead cacti (we were in Texas). Our real estate agent had us paint our kitchen cabinets, buy houseplants, etc... Our house was in perfect shape, but it still took months to sell.

 

We sold through a relocation company, so we ended up with multiple inspections. Each inspection was different than the last. There is no guessing what an inspector will come up with. In the future I will not bother. If there is something that is desperately in need of repair, we will do it. Otherwise, we will wait. Why spend money that you may not need to spend? I would do basic cleaning and any minor paint and repair- that's all.

[jujsky]

If you don't make the repairs, I'm sure you realize that your house is going to sell for less than a newer house of a similar size. That being said, many people are willing to buy an older house that's a fixer-upper. That's what DH and I were looking for when we were first married. If you are going to dump a lot of money into your house, make sure the return on investment is worth it. Will you recoup your $76K? Will you make more of a profit by lowering the price of the house, but not putting $76K into it? Unless your boys did a horrible job painting, I see no reason to hire a professional painter. Most people are going to come in and repaint it anyway. The key is to get rid of any overly-crazy colors and to give them a nice, clean undercoat to work with. Another thing to consider is since the carpet needs to be replaced, could you offer a carpet/flooring allowance? A person buying a fixer-upper might appreciate the allowance more than new carpet. Your tastes might be different. They might really want put in hardwood and that $3,000 (or however much) allowance might make up enough of a difference for them to make that possible. If you're going to spend a lot of money, bathroom and kitchen updates are where you see the most return on investment. If the HVAC needs replacement, do it or price your house accordingly. If the roof is only 15 years old, it should have another 5-15 years on it depending on whether you have 20 or 30 year tiles. I wouldn't put the expense into that unless it needs it. In fact, have you thought about bringing a home inspector out instead of the real estate agent to give you a list of things that need to be replaced? Someone like that would be much better able to tell you if the roof has more time.

Edited February 3, 2012 by jujsky

[ma23peas]

Call around, do NOT use her 'subs' or recs for painters! My mother just paid an independent worker $1200 to paint an 1800 sq. foot house, EVERY ROOM!! That includes the paint!

 

Roofing...if they are 20 year shingles and they are 15 years old, fine..leave it..if they are 30 years old and 20 year shingles, you need to replace it.

 

Roofing on simple rooflines start at 4k-8k..your quote seems high unless there are steep pitches....I would not mind investing 10k into a house if it meant a potential 20k on return...my mother was a realtor for 10 years, I respect what they have to do, but the ones we've dealt with over the past 20 years have been more focused on their take than our investment.

[Bluegoat]

I think these kinds of attempts at a major overhaul can really back-fire. When we were house-hunting a few years ago, I saw a lot of places that had been given that kind of treatment. Often the job was done using low quality materials to save and because the seller had no investment in their long-term durability. Often they were blandly trendy and obscured whatever charm the house had. I don't know how many places I saw with giant beige tiles or granite counter-tops or stainless appliances added to make them look trendy, all things I hate. At least I could justify getting rid of yucky old stuff, but with new I would feel like I had to keep it anyway.

 

And the beautiful gardens grassed over or covered with trendy treatments were enough to make me cry!

 

ETA - I would never pay extra for central vac, but i might pay to have it taken out!

Edited February 3, 2012 by Bluegoat

[Tammyla]

I would never put that much money into a house, unless we were keeping it.

[Riverland]

No way would I spend that amount. YOU will not get your money back, but your REALTOR will increase her commission!

 

I would probably do some of the items on the list, but there are many buyers who look for a good deal on a fixer-upper. Lots of buyers are handy & like to do remodel/repair work. Your realtor needs to market the house to them.

 

When we were selling our rental house, our realtor specifically told us NOT to make repairs. He said to leave them as "negotiable" items for when an offer was made.

[elfgivas]

 

Yes, some of the stuff definitely needs to be done. We have a bathroom in serious need of attention and tile work. Our front stoop has come away from the house and sunk. Our HVAC died the week after we moved out and we're replacing the entire system (30yrs old anyway). These will not be cheap.

 

 

 

does this mean your house is empty? as in, no furniture? if so, then the paint oopsies will stand out more than in a furnished house.

 

my cousins had a house stager come in after my aunt died, and rented minimal furniture for the house, and hung just a few paintings in strategic places.

 

the house sold for way more than they had expected, and sold quickly.

 

what they did:

- they completely gutted and replaced the bathroom on the main floor ~$7000).

- they tidied the landscaping and put in bright flowers (~$ 100)

- they painted the inside of the house the colors the stager wanted, and repaired peeling paint on the outside of the house.

- they put a coffee maker in the kitchen and one of them went over to the house and ran it just before folks came to see the house (the stager said it made it feel "homey").

- they had a bowl of oranges on the table in the dining room. again, it made it feel homey and bright and welcoming.

 

and that was about it. i think rebuilding the stoop would make a difference in first impressions.

 

so maybe $15,000 - $20,000 ?

 

good luck!

ann

[Carol in Cal.]

I would definitely fix the bathroom. I would definitely fix the stoop, since that's the first view of the house. I'd clean up the paint glitches. I think most buyers repaint anyway.

I think you'll be looking for buyers who want a deal, who are willing to do their own fixing-up, so I'd advertise it that way, while pointing out the new HVAC and other positives.

I'd also keep it super clean and clutter free as much as possible, inside and out.

 

I agree, but you know, we don't know the local market conditions. It might be quite different out there.

[Susan in TN]

I would never put that much money into a house, unless we were keeping it.

:iagree:

 

I'd fix anything that was super obvious and/or dangerous. Maybe some neutral paint. Otherwise, I think you're right - people will buy your older house for 200K less and use that money to make the improvements they want. You can always offer some "flooring replacement" incentives to interested buyers.

 

I think the 76K in suggested updates might be more for the benefit of the realtor in helping them keep up their reputation/stats.

[asta]

1. When does your contract run out?

 

2. She can't make you do anything.

 

3. One of the best things I ever did was buy a "how to sell your house yourself" book and follow all of the recommendations (put half of your belongings in storage, you only recoup fixing the bath and kitchen, do "staging", etc.)

 

4. The best kept secret, IMO for new flooring when having to sell an older house: the polypropylene berber carpet on the HUGE rolls on the back wall of home depot. Install that crap over the "premium" carpet pad and everyone thinks you spent a bundle on new flooring. The "gush" factor psychs them into thinking it is expensive...

 

5. The .99 tile of the month at Home Depot is your friend. It rotates in color, but is always a neutral. Works great for bathroom floors. There is even a trend to put larger tiles on walls now.

 

6. Check builder's supply places for "returns" on shower enclosures. One of my girlfriends got a $2500 enclosure for a couple hundred bucks because it was black. If you're already starting from scratch, you may be able to deal with beige instead of white, etc.

 

a

[Night Elf]

Are you signed with this realtor or can you still shop around? I wonder what advice other realtors would give. I can't imagine a realtor sabotaging the sale of a house but who knows. How long is the contract good? You can switch realtors and tactics when the contract is expired.

 

And do homebuyers really expect a professional $11,000 paint job? I want to learn how to paint professionally!

 

I would invest in a home inspection and address any problems he/she finds. I would rather be proactive with that so the potential buyer's home inspection doesn't find some long list of things that will make them want to pay much less. A home inspector will also inspect the roof. Frankly, a 15 year old roof would give me pause if I was buying a house. I see that as a definite replacement and I really hate the idea of getting into a new house and having to do something as big as a roof replacement. As a buyer, I would expect replacement before closing or a price concession after I determine what the cost would be to me. Then again, we aren't the type of people looking for a fixer upper. If we were, I would expect such a house to be priced low.

 

I would also invest in a cleaning company because I think a clean house makes a really good first impression. And I definitely believe clean neutral walls have an appeal. It sure doesn't warrant a professional paint job though!

Edited February 3, 2012 by Night Elf

[East Coast Sue]

Your real estate agent is looking out for herself and not you. That is just wrong, but I'm not surprised. I know of a large house on 3 acres just about 10 miles outside of DC for sale and it needs a new roof too- house & roof are 15 yrs old. They are not replacing the roof. If/when the inspector brings up a concern they will take money off to make the sale happen. I actually think you should only address safety issues and cosmetic issues to make an offer possible.

[MariannNOVA]

4. The best kept secret, IMO for new flooring when having to sell an older house: the polypropylene berber carpet on the HUGE rolls on the back wall of home depot. Install that crap over the "premium" carpet pad and everyone thinks you spent a bundle on new flooring. The "gush" factor psychs them into thinking it is expensive...

5. The .99 tile of the month at Home Depot is your friend. It rotates in color, but is always a neutral. Works great for bathroom floors. There is even a trend to put larger tiles on walls now.

6. Check builder's supply places for "returns" on shower enclosures. One of my girlfriends got a $2500 enclosure for a couple hundred bucks because it was black. If you're already starting from scratch, you may be able to deal with beige instead of white, etc.

 

a

 

In red --:iagree::iagree::iagree: -- we have done all those things in the past AND now and they are KEY!!!!!!

 

Also, and this is a little out there: Do you have a storage unit? If you do, ask the on-site person if anyone who rents a unit is a 'carpet' guy -- they will typically use the storagte units to store their inventory. DH chattd up a carpet guy last year -- we bought and installed (the carpet guy - sold it to us and installed it) Martha Stewart berber that we had selected at HD -- I wanted MS and not the stuff on the rolls in the back for THIS particular project - we have used the stuff on the rolls and it is fabulous - I just didn't want it for this. anyway, we paid 1/3 of what HD quoted us. The price and carpet was so gorgeous that four friends of ours also used the same guy.

 

Just ask -- there are zillions of ways to save money. Oh, and you can fire that agent if you don't think she is working in your best interest.

[Bluegoat]

 

5. The .99 tile of the month at Home Depot is your friend. It rotates in color, but is always a neutral. Works great for bathroom floors. There is even a trend to put larger tiles on walls now.

 

a

 

Argh, the giant beige tiles. Kill me now.

[AuntieM]

$11K????!!!! She has GOT to be getting a kickback or is related to the painter. Fix the paint but do it yourself.

 

Bathrooms - yes, you should redo those.

 

Stoop - I would do this. First impressions and all that.

 

The roof and flooring - it depends on your competition. If you choose not to replace them yourself, do state allowance amounts. I agree with another poster that an inspector might raise an issue with it. If it's functional, that's all you are required to offer, however, if an inspector draws attention to it it becomes part of the negotiating process and you need to be able to fork out or forgo cash over it.

 

If you really don't want to deal with repairs, you can sell As Is, as long as your price it with that consideration. FWIW, I would not use any company or individual on the basis of that realtor's recommendation. If you need to hire out any work, ask your friends and neighbors for referrals.

[LisaKinVA]

$11K????!!!! She has GOT to be getting a kickback or is related to the painter. Fix the paint but do it yourself.

 

Just as an FYI, this number is not out of line, depending upon the size of the house.

 

Our house is 3300 square feet. We painted the ceilings, walls, doors and trim. We hired out the walls. Paint costs alone were $6,000 (at Lowe's). The labor cost to paint just the walls was $3,000. Trim/doors would have cost $4,000. Of course, we're still painting trim... :tongue_smilie:

[AuntieM]

Just as an FYI, this number is not out of line, depending upon the size of the house.

 

Our house is 3300 square feet. We painted the ceilings, walls, doors and trim. We hired out the walls. Paint costs alone were $6,000 (at Lowe's). The labor cost to paint just the walls was $3,000. Trim/doors would have cost $4,000. Of course, we're still painting trim... :tongue_smilie:

 

Well, I guess I need to send my painter and his crew some Valentines because in two different houses I've gotten quality work, including Sherwin-Williams paint and popcorn ceilings scraped, for a better rate.

 

I guess it all depends on the area.

[PrincessMommy]

Thanks all... these are great suggestions and tips.

 

yes, we are out of the house and we plan to stage a few rooms.. we've left a few furniture items there but will rent more.

 

I'm positive the realtor is getting a kick-back.

 

HVAC is not central vacuum...it's the heating/air conditioning system.

 

My husband did talk her down from the usual length for the contract, but I cannot remember how long we have with her.

[Bluegoat]

 

HVAC is not central vacuum...it's the heating/air conditioning system.

 

Ah of course - no one has that where I live!

[Carol in Cal.]

Tell her you will do all the work if she pays for two thirds of it.

[AuntieM]

Tell her you will do all the work if she pays for two thirds of it.

 

:lol:

[ThisIsTheDay]

Of course she wants you to spend $ on your house. The more you get for it, the higher her commission. Don't spend what you don't want to spend. I'd do the roof, but beyond that -- it is what it is.

:iagree: If your house is priced right, it will sell. There are definitely buyers who would be happy to pay less for the house and pay to have the work done themselves.

 

Is your home listed with this realtor yet? If not, I'd be interviewing a few others before choosing one to sell my home.

[Ruby Rose]

Lower the price and sell As Is. Clean carpets, fresh interior paint, clean everything, freshen curb appeal and be done with it.

 

ETA IME Adding an extra 0.5-1% to buyers commission makes the buyer agent push your house more than a comparable house with less commission.

Edited February 3, 2012 by Ruby Sue

[Ohdanigirl]

I think I would find a new realtor.

 

 

:iagree:

In this climate, you should be able to find a realtor that may be willing to take less money.

 

I also think that you should use the list to see what things you and your family could do on your own. You would be surprised how many things you can turn into a DIY project, and how much value it could add to your house.

 

HTH

 

Danielle