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Old 07-26-2012, 07:03 PM
 
519 posts, read 862,826 times
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Quote:
Originally Posted by Mary B123 View Post
I understand that price sells a house - but maybe I'm just having a hard time getting over the idea that my house is WORTH MORE than what I have it listed at right now..

I mean, I bought it for $225k 9 years ago - we've put almost $100k in upgrades/updates into the house, and I have it listed right now at $280k...I had an appraisal done on it before we listed it last year and it came in at $285k...

and I know that this year is not the best year for selling -but it's supposed to be better than last year, right??

The problem that many sellers face is that they believe that their home is worth X (such as you state above), yet any potential buyer doesn't feel the same way. I hope your REALTOR® informed you that you will never get the $100,000 in upgrades/updates back in the sale of your home. While it is good that your home was updated to become modern, maybe potential buyers can't see the $100,000 in upgrades/updates.

Like others, I do have some feedback, and take it with a grain of salt if you like. But one potentially huge problem I see is this: your home was built in 1989. How old is the roof? Was any of the $100,000 in upgrades allocated to a new roof? With the age of your home and an older roof, if I were an agent, I may steer my clients away from your property if you have an older roof.

Also, have your REALTOR® write the description of your home like a "normal person." Most people don't understand abbreviations and agent-speak. Once again, if you have a new roof, it's not mentioned here. Sure, it's near Southpoint and I-40, but what else is near it? Restaurants? Minor League baseball games? Parks?

For a home of that square footage, the photos don't do the home justice. Are the rooms really that small because the photos make them look that way?

Finally, there is agent feedback and then there is consumer feedback. If you were thinking of purchasing this home, do you think it is worth that price? Do you see the value at that price? Bring friends over and ask them the same thing. Right now, you have a personal connection to the home so it is difficult to see it with unbiased eye. With an unbiased eye, try to look at other homes in the area and compare them to your property and see if you come to the conclusion that your home is worth the price you are selling it.
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Old 07-26-2012, 07:12 PM
 
Location: Raleigh, NC
2,535 posts, read 4,502,400 times
Reputation: 2572
I haven't read all the responses so forgive me if someone else has suggested this. If you're priced right and there aren't any problems with the house the best way to sell the house is to get more people in there looking at it. Instead of reducing the price of the house, you might try adding an incentive to the buyers agent for showing it. Buyers agents often choose what properties the buyers look at. An extra $500-$1000 will get more agents showing the home and more opportunities to sell. The incentive is given at closing.
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Old 07-26-2012, 07:17 PM
 
Location: under the beautiful Carolina blue
15,755 posts, read 23,998,422 times
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I agree it's a very nice house. Very pretty with good curb appeal. I love the kitchen, to me it's the perfect size. I miss my small kitchen (really!)

You really need to do some staging. The furniture and bedding look a bit tired. You can get cheap but trendy bedding at Walmart and Target with some throw pillows to match. Your paint colors are so neutral that this is a must. You can also get cheap vases, etc at Michael's or AC Moore. Get some updated tchotchke stuff and put away your old stuff. This works. I did it myself when I sold my house...$200 spend now may keep you from walking away with only $200 at closing. Take a good objective look at your online pics and be honest about what you see - you need to make everything POP - people have to look at your stuff and think "I wanna live HERE" - it's all psychological, yes they know that stuff isn't staying but they can picture that house looking great. You should have new towels that you put out only when the house is being shown. You have towels that look like they've been used in the pictures, t.p. on the back of the toilet, dressers are cluttered.

Also - I see a pet bowl in the kitchen picture. You may not smell your pet, but with all that carpeting you need to get someone without a pet to give you honest feedback. I'll be honest, having it in the picture is not a good move. I'd consider having some of the pics re-done based on the the stuff I've mentioned. Don't think that matters? People shop the internet first. If you don't make a good impression there, you won't even get them to your driveway.

Last edited by twingles; 07-26-2012 at 07:29 PM..
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Old 07-26-2012, 07:40 PM
 
519 posts, read 862,826 times
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Quote:
Originally Posted by twingles View Post
Also - I see a pet bowl in the kitchen picture. You may not smell your pet, but with all that carpeting you need to get someone without a pet to give you honest feedback. I'll be honest, having it in the picture is not a good move. I'd consider having some of the pics re-done based on the the stuff I've mentioned. Don't think that matters? People shop the internet first. If you don't make a good impression there, you won't even get them to your driveway.
Good call with the pet bowl.
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Old 07-26-2012, 08:36 PM
 
Location: Raleigh, NC
11,794 posts, read 27,462,503 times
Reputation: 8114
Quote:
Originally Posted by pegotty View Post
I haven't read all the responses so forgive me if someone else has suggested this. If you're priced right and there aren't any problems with the house the best way to sell the house is to get more people in there looking at it. Instead of reducing the price of the house, you might try adding an incentive to the buyers agent for showing it. Buyers agents often choose what properties the buyers look at. An extra $500-$1000 will get more agents showing the home and more opportunities to sell. The incentive is given at closing.
Wow! I'm very impressed with most of the suggestions that have been posted on this thread! There are really some good suggestions for the OP.

However, I'm not a big fan of additional incentives for the buyer's agent. I don't think it is necessary and in most cases, my buyers choose the homes they want to see. I search, they search but in most cases, they choose what they want to see.

In NC, all incentives must be disclosed to buyers. Seems like common sense but it seems that many agents did not disclose bonuses years ago and buyers were upset (and rightly so) when they went to closing and found out that their agent got a bonus. Made them wonder if they were "talked into" that particular home. Of course, that wasn't the case but still...felt like something was kept from them.

Vicki
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Old 07-26-2012, 08:45 PM
 
Location: Raleigh, NC
11,794 posts, read 27,462,503 times
Reputation: 8114
Quote:
Originally Posted by cncsmomndad View Post
We brought A LOT to close after putting in about $60k to upgrade our former house. It sucks, but if you really want to sell, you have to do it. I've sent you a DM because I think I found your house on MLS and wanted to offer my feedback.
No one EVER got back 100% of the upgrades they put into a house. Many sellers don't realize that what they consider an upgrade is really just maintenance to a buyer.

In this day, you don't even get back 50% of what you put into your house! And it makes no sense that someone would put $100,000 into a home that is worth $225,000.

Let this be a lesson to everyone...do what you want to your home but don't expect someone else is going to pay for it.

I added hardwoods to my stairs and upstairs hallway because I wanted it. I don't expect that anyone will pay what I paid, when it is time for me to sell. That just isn't realistic.

Vicki
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Old 07-26-2012, 09:16 PM
 
1,225 posts, read 3,620,891 times
Reputation: 1029
Quote:
Originally Posted by VickiR View Post
No one EVER got back 100% of the upgrades they put into a house. Many sellers don't realize that what they consider an upgrade is really just maintenance to a buyer.

In this day, you don't even get back 50% of what you put into your house! And it makes no sense that someone would put $100,000 into a home that is worth $225,000.

Let this be a lesson to everyone...do what you want to your home but don't expect someone else is going to pay for it.

I added hardwoods to my stairs and upstairs hallway because I wanted it. I don't expect that anyone will pay what I paid, when it is time for me to sell. That just isn't realistic.

Vicki
Exactly, we did what we wanted to do to the house while we were living in it to make it comfortable and workable for us. We know you don't get 100% back on upgrades. We knew going in when we listed for what we purchased the home for in 2006 we were going to take a big ol' loss. We were realistic with our price. The neighbors closed the same day we got our offer and our agent found out the sales price. Since our offer was just a tad above that, we took it knowing it would be unlikely to appraise for much more, if any, considering they had more square footage and a comparable group of upgrades. Saved the hassle of haggling over $1000 here and there and we were in contract 5 days after listing. It is so hard to not be emotional during the sales process, but one really has to put distance between themselves and their soon-to-be former house.

ETA: We have put $100k into a house we bought in 2004 and sold it for more than $200k than we paid for it 2 years later. It can happen, but not in this market.
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Old 07-26-2012, 09:18 PM
 
Location: Chicago
3,263 posts, read 4,511,339 times
Reputation: 3996
Quote:
Originally Posted by VickiR View Post
No one EVER got back 100% of the upgrades they put into a house. Many sellers don't realize that what they consider an upgrade is really just maintenance to a buyer.

In this day, you don't even get back 50% of what you put into your house! And it makes no sense that someone would put $100,000 into a home that is worth $225,000.

Let this be a lesson to everyone...do what you want to your home but don't expect someone else is going to pay for it.

I added hardwoods to my stairs and upstairs hallway because I wanted it. I don't expect that anyone will pay what I paid, when it is time for me to sell. That just isn't realistic.

Vicki
This is so true... I think way too many people have bought into the HGTV hype and think that they'll add $60,000 to the "value" of their house by renovating the kitchen for $30,000. It is a shame that so many people bought into that, IMO. As a buyer, I hate walking into houses that are all "done" yet with finishes I hate. Then I have to decide whether I will rip them out, even though they are brand new, or try to somehow decorate around them. In cases like that, the upgrades really add little to no value at all.

To the OP, I totally understand and empathize with how you feel. I'm pretty much in the same boat. I've wanted to move for a long time. We hired an agent, took every single suggestion he had, and nothing happened. The price he suggested is obviously not the right one. We've since lowered the price, but it has not caused a significant increase (or decrease) in traffic. We get a lot of showings, a lot of positive feedback, no offers. It just plain stinks. My only hope is that because our price change was very recent we have some time and will get an offer soon.
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Old 07-27-2012, 05:06 AM
 
33,052 posts, read 12,527,244 times
Reputation: 20944
Quote:
Originally Posted by michgc View Post
I just looked at your house online, and it looks very nice to me, overall! And it's in a good school pyramid for Durham, I believe - Jordan HS. Based on just the pictures, here is my honest guess as to why people might not be choosing your house:

1. Carpeting in the dining room - most people don't like this and it makes it dated
2. Carpeting in living room downstairs - ditto
3. Kitchen is beautiful but appears to be on the small side. Many buyers today want big working kitchens
4. Looks like a closed concept - people seem to want a more open floor plan
5. Master bedroom on first floor is not a popular floor plan up north. If many buyers are coming from up north, they might not want that
6. What is that large dirt area in the center of your backyard?
7. Need new springtime pictures with flowers. The backyard pictures have bare/winter trees
8. I dislike your Realtor's lead-in line. "HOA dues pd..." So the first thing I see and think about when I see your house online is that there are HOA dues! That line should be later in the blurb or perhaps just emphasize that HOA dues are low (if they are).
9. Along those same lines, I dislike how she said, "Add screen porch over deck." Buyers do not want to think about what they need to do to enjoy this house. She should just emphasize that there is a huge deck to enjoy the large backyard. Why mention a screened porch at all?

Overall, I think it's a very pretty house. And I say my suggestions in kindness. I just moved here from a 1950's ranch house, so I am not putting your house down at all - just saying what I think potential buyers might be thinking.
I have not seen your online listing, but given what this poster and others have said, you may benefit from having a stager come in and professional photos taken. Our realtor provided this service and it made all the difference in the world.

The stager came through and made 3-5 suggestions per room. This was after we had already decluttered and put a bunch of stuff in storage per HGTV's sell-this-house advice. She had us rip up the carpet. Made a world of difference. Suggestions for art, mirrors, furniture placement made our home look like a restful haven from the world. We bought high end looking bed covers and pillows from Overstock online. They were about the same price as the stuff from WalMart and gave the house a much richer feel.

Then a professional photographer took some dynamite photos. Our kids saw our online listing and wondered why the house hadn't looked this way while they were growing up.

Also, we replaced the roof. Our insurance company covered most of the cost due to hail damage. It was our realtor's suggestion that we look into this.

Also, if at all possible, could you farm the dog out to a friend for awhile. Many people are turned off by pet odors. I find cat odors offensive and have walked away from more than one potential home when we walked in and smelled cats.

The other thing we did that was well worth the money was having the house professionally cleaned including the windows. The place just sparkled. I wish I had hired a housekeeper to come in once a week to keep it that way as it was a lot of work to keep it to that level of cleanliness.

When we moved, I was determined to live like that as I loved coming home to such a restful, clean home. Alas, my sporadic and feeble attempts at housekeeping have not helped. But if we put this house on the market, I'm hiring a housekeeper.

We always gave feedback to our realtor when we left a house. But it was hard to pinpoint just why a place didn't feel like home so we'd mention things that really made little difference. Sometimes it was the feel of the area, sometimes the home had all the rooms we needed just not in the right arrangement, so I ended up saying things like the driveway slopes (we ended up with a sloped driveway) or other things that were nitpicky. But the if the house doesn't feel like home, just a lower price was not enough to entice us.

Good luck.
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Old 07-27-2012, 05:36 AM
 
Location: So Ca
13,908 posts, read 13,570,673 times
Reputation: 11829
Quote:
Originally Posted by VickiR View Post
No one EVER got back 100% of the upgrades they put into a house. Many sellers don't realize that what they consider an upgrade is really just maintenance to a buyer.
Absolutely. This should be common sense (but apparently it isn't).
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