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Answers (9)
- Kamaaina Realty
- Contributions:54
I agree about checking with a local realtor in your part of town. My reason is that because a realtor who is familiar with the neighborhood can give you great insight to what others are looking for. If the realtor has been in business for 20 plus years and sold a lot of homes, then they have probably heard all the questions and comments throughout the years. Keep Us posted on your decision. Best of Luck to You !!!
- Gary Bell, "Gary Bell"
- Contributions:45
Talk to a real estate agent. Your question is too broad to answer here. It really depends on the area. Have an agent come in to view the home and give their opinion. They can show you are comparables to give you an idea of what properties are selling for in your area.
- Wes Black
- Contributions:509
I would seriously consider fixing issues that affect the value and marketability of your home. In general Louisville buyers are looking for move in ready.
- Ruth Garrett, "Your Online Realtor"
- Contributions:21
Thank you for your question and I understand your dilemma. I do agree that there are some small things you can do to get the most out of your home such as replacing the carpet with discounted flooring and painting the walls to enhance the feeling and warmth of being at home. Earth tones are very popular. To save labor costs, have friends and family to help.
Tearing down walls for closet space and expanding the kitchen are major repairs. Due to the age of the home, there is a possibility of running into unexpected problems that will eventually cost more money in the end.
I recommend professional cleaning, carpet replacement, decluttering the inside of the home, enhance the front lawn to attract buyers, and using earth tones to paint the inside of the home. If you still have questions, I encourage you to give me a call at (254) 715-0135 and I will be happy to assist you and guide you in the right direction. I'd love to help anyway I can.
Tearing down walls for closet space and expanding the kitchen are major repairs. Due to the age of the home, there is a possibility of running into unexpected problems that will eventually cost more money in the end.
I recommend professional cleaning, carpet replacement, decluttering the inside of the home, enhance the front lawn to attract buyers, and using earth tones to paint the inside of the home. If you still have questions, I encourage you to give me a call at (254) 715-0135 and I will be happy to assist you and guide you in the right direction. I'd love to help anyway I can.
- Vince Curtis, "SoCal Appraiser"
- Contributions:4699
At your pricepoint you would not recover your costs, sell as is EXCEPT possibly for extreme deferred maintenance ie the carpet....
- Guy Gimenez, "Broker and Investor"
- Contributions:58
If you don't have to sell yet, don't. Personally, I'm not convinced the market has bottomed out.
Contact 3 agents and have them provide you with full MLS sheets of ALL homes that have sold in the last 3 to 4 months AND all homes currently available. They can provide you an idea of what they believe the home is worth, but do your own research of the property listings as well.
I would caution you against re-investing in a home (other than paint and perhaps flooring) that you no longer want, more especially in this market where you may incur a greater loss if it does sell. As was stated earlier, clean, declutter, and stage the home as best you can.
- Brian Teyssier, "Brian Teyssier GRI"
- Contributions:964
Thanks for your question "Hnh573".
First I want to address your opening comment, who determined the value was $74k? You, a Realtor or an appraiser? I point this out for other sellers & buyers.
Nobody can give you an effective answer on Zillow. Why? Because we would have to see the property and comparables.
My advice is to have a local, full time, professional Realtor come in and look at the place and show you comps. This will help you make your decision. Now, there is homework for you too. You need to get 3 quotes for each project (forget the "bump-out"). When coupled with the research the Realtor is going to do, you can make an EDUCATED decision. Builder grade carpet is cheap and what a difference it can make.
Good luck, hope this helps and happy holidays!
First I want to address your opening comment, who determined the value was $74k? You, a Realtor or an appraiser? I point this out for other sellers & buyers.
Nobody can give you an effective answer on Zillow. Why? Because we would have to see the property and comparables.
My advice is to have a local, full time, professional Realtor come in and look at the place and show you comps. This will help you make your decision. Now, there is homework for you too. You need to get 3 quotes for each project (forget the "bump-out"). When coupled with the research the Realtor is going to do, you can make an EDUCATED decision. Builder grade carpet is cheap and what a difference it can make.
Good luck, hope this helps and happy holidays!
- Nina Harris, "NinaHarris"
- Contributions:258
In today's down market, my advice would be to cosmetically clean the house up (change carpet, paint, trim hedges, etc.). Don't invest a lot of money if the return in investment is not there.
Good luck
Good luck
- Sharon Lewis, "Sharon Lewis"
- Contributions:3923
Great question, I would suggest you contact a realtor and 'tour' the homes that are on the market, they are your competition right now.
If the carpet is terrible, probably replace it, look for a good sale, there are companies on line, that sell carpet inexpensively and you have to find someone local to put the carpet in.
Why did you purchase originally, because it was a 'steal' so perhaps that is who you are going to look to, to sell to. I would wait for the spring market, paint the interior (white or off white please)
If the kitchen is tiny, is there a way to make it bigger -take down a wall? (do everything with permits please)
The windows are leaky? Fix the leaks.
Stage that master bedroom. Try to find a stager, they will help you do this as inexpensively as possible, with some sweat equity you might be able to make a couple of bucks.
Was your neighbors home comparable to yours?
To respond to your last question, really depends on the area, your competition etc. Talk to a realtor, they will be able to give you a better sense of the area, don't put it on the market if you can't make money right now....spring market will be stronger (hopefully)
Can you not rent it out?
If the carpet is terrible, probably replace it, look for a good sale, there are companies on line, that sell carpet inexpensively and you have to find someone local to put the carpet in.
Why did you purchase originally, because it was a 'steal' so perhaps that is who you are going to look to, to sell to. I would wait for the spring market, paint the interior (white or off white please)
If the kitchen is tiny, is there a way to make it bigger -take down a wall? (do everything with permits please)
The windows are leaky? Fix the leaks.
Stage that master bedroom. Try to find a stager, they will help you do this as inexpensively as possible, with some sweat equity you might be able to make a couple of bucks.
Was your neighbors home comparable to yours?
To respond to your last question, really depends on the area, your competition etc. Talk to a realtor, they will be able to give you a better sense of the area, don't put it on the market if you can't make money right now....spring market will be stronger (hopefully)
Can you not rent it out?
Should I invest in updates before selling?
My home is a brick 4 bedroom, 2 bath, built in 1955. The house is not in a state of disrepair, but it does need some updates. The windows are leaky and old. The kitchen is tiny. The carpet is terrible, definitely will have to replace with either new carpet, tile or laminate flooring. The master bedroom/bath was built in the garage and there is not very much closet space. I was considering bumping out the bathroom walls and making a bigger closet since the bedroom is huge.
Is this too much to invest in a property when I plan on trying to sell soon?
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