REAL ESTATE QUESTIONS

[LuckyLady]

I am a few weeks away from putting the house up for sale and I was told to list the house with a good realtor.

Well this is the 1st house I have sold and I am not sure what to look out for or prepare for and how do you determine a good realtor?

I am aware that the market sucks right now, and I am going to take my chances.

Here is the deal the house is in a historic area and is over 120 years old. The house is almost completely re-done minus 2 rooms in the house, and is in excellent shape with a 2 -car detached garage, huge over sized loft, and a giant back yard. All 4 Roofs are brand new inc the garage

Now is it worth putting the extra cash in to it to update a few of the rooms? Or am I better off selling it as is? I think most would be like me and roll in and go to town and make it the way I want it.

Here is what I know needs to be done

Paint a few unused rooms
New Carpet in the living room

The other tricky question is what to do with the 20 x 20 addition that is not 100% finished on the inside. All the electrical, plumbing, insulation and drywall are complete. I added a laundry room and a bath on it. I have all the fixtures, toilet, etc to finish the bath but just have lacked the time to finish it.

Would it be better to finish the bathroom off with paint and just plumbing or install all the happy stuff that I already have and make it complete?

The entire house except 2 rooms have had all the electrical top to bottom re-done, all exterior walls and crawl spaces have been insulated even a few of the original edition walls.

Thoughts Suggestions?

Thanks in advance...

[BluePrints]

Remember the average homeowner isn't too bright. Trust me I work w/ them everyday.

You need to paint everything & paint it a neutral color. I have seen many times a house not sold because of something stupid like the paint or the kitchen counter. Flooring should be replaced or at least professionally cleaned.

With the crappy market you are going to imo have to finish the addition just to eliminate any potential customers that would back out because of it. No need to go past basic white paint & little to no decoration.

Historic area is both a good & bad thing. Lot's of people will not even look in a historic area because of the nightmare rules. Then there are people out there that love it & will want to deal w/ it. It's a toss up but you surely can't change that.

Realtors, You don't want to hear my take on realtors.

[JD5652]

Mary-

You're probably going to get responses all over the board on this, but here's my take on it.

Paint and carpeting are "relatively" cheap items. They also go along way in "selling" the house. It like the sizzle on the steak. I would recommend painting the two rooms and put the carpeting in. Do it all in neutral range colors for the widest market appeal.

Sounds like you've already invested a lot in the addition as well. I would also recommend finishing this space off as well for the same reasons above. Some people do not have the "vision" to look beyond what's in front of them. What I mean is that some people may simply look at the addition as unfinished space and possibly a PIA rather than a vision of what 'could be". Also, if you don't install the fixtures, etc. then you're left with "stuff" that has little or no value.

Good luck!

[LuckyLady]

All great points so far....

I kind of figured that I would get points in every which direction but that is what I am looking for

Thanks

[capemaychef]

My Take...

I'm no realtor by any stretch of the imagination...but I have worked with many in the restaurant buis. For the most part...not many people want to go into dropping the coin that one would drop on a house...to have to fix a few things. Like some have said...it sounds like you have invested a lot of $$ and time into this house, and you want to see the best reward possible for yourself. I see it as if you put it on the market with unfinished rooms especially in the way the market is now...people will be trying to get that price down due to the "work" they see that will be needed.

Like you said...some would be happy with that...but what are the chances of that happening? If you have the $$ and time to finish the rooms etc...I think you will see a better return on the sale...and will have to deal with much less bs when it comes to the asking price of it.

Either way good luck with it!!!!

[Seaker]

I'm pretty much going to parrot JD's advice. The easy to finish needs to be finished you know the boat and engines are fine and look great it's just the maceraotr pump and live well need some love

There's also special finance availbe to the prospective buyer in reno loans that are very attractive. There's a streamline which will give the buyer up to 35K in non structural improvments which includes pait, carpet, windows, HVAC, kitchen and bath and also appliances. They don't require very high credit scores just good ability to repay and availbe in 30year fixed products

Rather than go one for ever just give me a call at the office when you have time 508-979-4983 My direct line

You can also offer buydowns and more to seperate yourself from the pack

Good Luck

[Sterling]

The advice here makes sense, making those affordable finishes could make a big difference. Before you drop the coin on it, it's probably worth engaging the realtor you are going to use. Naturally you'll want someone very familiar with your immediate area. They may have some good local advice on how to finish, or they may even know of an existing buyer that might prefer it as-is.

The fact that the house is over a century old and in a historic district could put a very different twist on what will help it sell. For example, rather than new carpet, prospects might be drawn to a beat up wood floor that may be underneath and buyers in that market may be turned off by modern, builder grade finishes. I have no idea, but it could counteract a lot of what would typically make sense in other markets so I would lean on the realtor for some local experience.

As far as finding a good realtor I think it's important to use someone who does it full time v a second job. If you don't have a referral, I would see what agencies are prominent in the area, check out their website and see if you can identify the owner/broker. If it looks like they have active listings, that could be a good way to go. If they own an agency and are actively listing, that's seems like a strong resource.

All this is theory and not based on a lot of experience in real estate so take it for what it's worth.

Good luck Mary

[RobB]

IMO i would try and finish most things if not u will probably get a lot of low ball offers. As for agent try and find someone who is aggressive and has listings in the area then it will probably get yours shown more often.I made the mistake of going with a friend and will never do that again , lucky for him he didnt fish or he would of been left offshore.

[dwain]

Lucky Lady: I am a realtor in London, Ontario and would advise you to finish what you have started. You will sell for much more when completed as well as you will be competing with other homes in your area. When selecting a realtor, try finding a realtor who works your area, or perhaps a realtor who specializes in the historic homes. Hope this helps. Dwain

[anthony]

All good advice above. If you don't finish the home potential buyers will see it as a "fixer upper" and will make offers accordingly. Enlist a good agent, they can usually make great recommendations as to what and how to finish off the house and what will get you the most bang for your buck. Finally, if you can postpone selling for a year or two you almost certainly will be in a better market.