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Well, OC, I have said this about 2 million times over 25 years. A house is worth whatever someone is willing to offer for it at any given time, LOL.
Excellent Point!
Not sure what part of Charlotte you are buying in, or how long the house has been on the market, but it is a buyer's market, so you would think they would be flexible.
The longer it sits the more likely they will start to understand the things that do "lessen people's interest".
Make sure you let us know what happens.
Those items do effect the value of a home. I am not sure the depreciate is right to use, but Value is most certainly effected. Paint, Wallpaper and Flooring are costs that with good choices can increase a home value, poor choices can decrease. I looked at a house and could not get past the wallpaper. I am usually prettty good about looking past "cosmetic" items, but it would have cost me thousands of dollars to replace the gaudy flower wallper ALL over the HUGE house. In another a poor wood floor would have cost me $10,000 to replace, and guess what in an offer I was ready to make I took $10,000 off to cover that. Yard upkeep is a little tougher, if it just is weedy and needs moqing, but if it is damaged trees, no plants, and no grass, thats more money out the door.
I always look at it this way, you start at a base rate for size, rooms etc. and then add or subtract for yard size, location, upkeep, projects, cosmetics etc. Sometimes they add value. Trust me that if they put in super duper flooring, they would add to the price of their home to get their money back.
The first thing a realtor tells you when listing your home is "curb appeal". The nicer the lawn, fresh mulch, plants trimmed, fresh coat of paint on door, clean "welcome" mat and maybe new brass door handles.....when someone walks up the driveway or parks in front of the home, the first thing they see is the frontyard..........its part of the house..........if I saw a yard with bare spots, no landscaping, yucky mulch, and it had to be replaced, I'd sure as not offer less.......after all I would have to replace it to look good.
I'm in the process of replacing the front half of my lawn near the road, for that reason, OK I'm not going to pay for it, because my son owns a sod company, but still it makes the house look nice and I want my house to sell.
I always thought in my mind if the outside looks nice, the inside will be just as nice. Pride of ownership.
Sorry, I was gone this morning having fun with my dd. The yard is not just drought related. The front yard is nice enough but no irrigation for the lawn. The backyard has had nothing done to it at all. There is no irrigation plants the ground is covered with rocks and little tufts of grass sporadically placed. Most yards on the street have retaining walls because the yards are sloped and this is no exception. We had a landscaper come out to give us an estimate on making the yard more useable.
They put in a screen porch and it appears that they tossed the dirt they removed for that on to the rest of the yard. They think you should get dollar for dollar what they paid for the porch. This neighborhood has a 2 yr supply of homes that sit for ever.
We did offer low but they are way over the last comp and that house was a tiny bit bigger and had a landscaped yard. We offered based on the comps and what it would take to make the yard livable.
From an appraiser's standpoint, landscaping does not add nor detract from the value of the home. It's value is in the marketability of the property. An acre of land is an acre of land, that's it. Neither does paint, wallpaper, etc. It only makes the home more attractive to a potential buyer.
From an appraiser's standpoint, landscaping does not add nor detract from the value of the home. It's value is in the marketability of the property. An acre of land is an acre of land, that's it. Neither does paint, wallpaper, etc. It only makes the home more attractive to a potential buyer.
You posted EXACTLY what I was going to say. I work in real estate appraisal and even though these things effect how a potential buyer 'sees' the house, the actually value is not affected by these things at all!
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Curb appeal
