Starter home won't sell in a hot, gentrified market (recommendation, commission, properties)
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Say what? My realtor said it is worth $250k, and should sell. There has been no feedback so far, except that it is too small for many, which is pretty obvious from the add. I am surprised there are no folks looking for a starter home, as nothing is really available under $250k, and when I was shopping many moons ago, the comparables were far worse.
From the looks of it that area was already in a massive bubble when you bought and prices haven't recovered. People were paying top dollar for junk back then, so in the last 10 years people's expectations have gone up in areas where prices are still depressed.
What exactly have you done to the house in 10 years? I own a 1950s house and it needs quite a bit of major work. If you bought the place 10 years ago and didn't update the insulation, HVAC, plumbing, roof and electrical, all that stuff is just a decade older now and even closer to needing a complete overhaul - which is not in the budget for a lot of starter home buyers. If all of that IS updated, for god's sake, put it in the ad. That, along with a good clean up would make the house a lot more appealing to a family with a limited budget. Floors, paint and windows are all good, but they're not the type of items that require expensive emergency repairs.
If you lived in the house for 10 years and did minimal improvements, you've basically ridden out the remaining depreciation of a 65 year old structure. That's a fine strategy, but it makes the home harder to sell and guarantees you won't get competitive offers unless the area is in really high demand.
Quote:
Originally Posted by Nanny Goat
Landscape the front and back yards. Get new kitchen cabinets.
I'm seeing a lot of $600K+ houses in my area with those old 50's cabinets still in place with new hardware and maybe a slab of silestone on top.
Bad idea. A kitchen remodel, when done on a shoestring budget, will not be any more appealing than the retro cabinets that are in there now, which I actually like. Clean it up, fix the yard, remove the chain link fence, take new pics, and lower the price.
Older homes with a renovated kitchen "to sell" can be a turn off when they aren't the buyers' personal taste.
I would rather pay less for a home in need of a kitchen remodel and do it the way I want to.
Right there on the Zillow listing it says the house is overpriced. The "Zillow Zestimate" values it at 220,000 Plus it shows that the price was recently reduced. That will make potential buyers think it will come down more. Even someone interested in the house would see that and say, "Nah, it's overpriced!"
Bad idea. A kitchen remodel, when done on a shoestring budget, will not be any more appealing than the retro cabinets that are in there now, which I actually like. Clean it up, fix the yard, remove the chain link fence, take new pics, and lower the price.
Older homes with a renovated kitchen "to sell" can be a turn off when they aren't the buyers' personal taste.
I would rather pay less for a home in need of a kitchen remodel and do it the way I want to.
I was just about to post the same thoughts.
The pictures don't do the outside of the house any favors. It looks neglected and abandoned. I would hope that it looks better in person. Trim those bushes and just make the front look inviting to potential buyers.
Inside looks ok, and as someone who's looking to downsize your house would be perfect for me if I wanted to live in Oregon.
I would be a potential buyer OP. I'm a middle aged single female and your square footage plus 2br/1ba is just what i'm looking for (and it's not that easy to find in Houston, where anything under 2000 sq ft. is considered "downsizing" lol. I'd go for the home in the 2nd link though, because it looks neat and polished. Like something I could move into and settle into while figuring out how i'd like to decorate, plan a garden, etc
with yours i'd have to clean and fix before I could even get down to enjoying it. If you don't have the $$$ to upgrade, at least tighten up the yard. Basic, clean curb appeal may help get potentials in the door. Good luck OP
edit: took a 2nd look at your listing OP, you've got some nice hardwoods, i'd move the stuff off the floor, polish them up and showcase them as well. The pics, as others have suggested, need to be clearer and brighter. If I can't see detail, and zooming in makes the pic even more blurry, I wouldn't bother to investigate further.
If you've already moved, why is there so much junk in the pictures?
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