Selling soon in Madison (Valley, Triana: days on market, for sale, countertops)

[MadHaus]

We own a house in Madison that we had built about four years ago. It's a pretty standard production builder house with a few upgrades. However, because it isn't our primary residence, we haven't done much in the way of landscaping or serious decorating. The relative who lives there now will be moving in a couple of months, and we'll put the house on the market in May or June. Rather than sell it half furnished and not really decorated, I'm thinking of selling it empty and looking move-in ready.

Do you think that in Madison, with the influx of new residents who need a house before the next school year begins, that we'd have better luck with an empty house? I know that some people like to see a house furnished to get an idea of how king size beds or large sofas will fit, but I'm concerned that this house will look a bit sad since most of the furniture will be gone.

We plan to paint the entire interior, clean the exterior (it's 3/4 brick), replace the carpets, polish the hardwoods, upgrade faucets, etc. One thing I question is the need to replace the kitchen counters. They're laminate, in a honed finish that looks like travertine. Formica is pretty typical in that neighborhood, but there are some newer houses with granite. Do current buyers in Madison expect granite in a house priced under $300K? I was hoping to keep the prep costs to under $5K, and granite would break the budget. As for landscaping, most of what I planted has died. The original builder's landscaping has survived, probably because it was established before the drought got so bad. I intend to just put in some annuals.

Does anyone know where I can find out the average Days on Market for Madison? And aside from ValleyMLS, is there another way to check for current house prices in various Madison subdivisions? We will hire a RE agent when the time comes, but would like to get an idea soon of what to expect.
I keep hearing/reading that every market is unique, and since we don't live in Madison full tme it's hard to get a good feel for whether or not we're making good decisions about marketing this house.

Thanks for your help.

[HsvMike]

Hi Mad, IMO it would be better to leave it empty and do all the repairs you are planning on than just leaving some sparse furniture in it. You can also take pictures before your relative moves out, then have the pictures available at the time of showings. Just so if someone will question whether or not a king size bed fits in the Master Bedroom, or whether the living room set will fit etc.

Right around the $300k mark is the line for expecting Granite, Corian, or a solid surface counter top. It mostly depends on what the homes have in your subdivision or immediate area. If you put it in, it would only help your chances, but with the work you are doing to it to really make it move in ready, I do not see it hindering you that bad, that is unless every home does have it around you.

As far as landscaping, you should definitely plant some annuals in the spring. Buyers do like to see nice landscaping when they walk up to the home. Make sure you keep the weeds out, and especially try to keep the bermuda from taking over.

I would be happy to give you home prices in current subdivisions, just let me know which ones. The Days on Market are pretty high right now, hopefully in the spring and into the summer when you plan on putting your home on the market it will be shorter. If you let me know what subdivision your home is located in, I can check the DOM for that specific subdivsion. It is definitely a buyers market right now and they are looking for deals. So if you are priced right, or actually a little under market, your home will sell. Madison is still one of the most desirable areas, along with SE Hsv, and it sounds like you are doing things right. New paint (I would suggest neutral decorators colors, not just all white) and carpet can do wonders as well as polishing and cleaning the home inside and out.

[MadHaus]

HSVMike, I'm not sure if many folks in Bridgefield upgraded to granite or Corian during or after their build. I recall the GC mentioning one house with granite, and he thought it was overkill. The new section of Bridgefield (Reserve?) was built, I think, with all granite kitchens, but people may perceive that as an entirely separate neighborhood.

The house is builder basic Antique White now, but I plan to use some richer neutrals when we repaint. I love the colors that our RE agent's decorator picked for our primary residence when we put it on the market, but it has darker floors & a more formal look so I'm not sure they'd work. This house is a 4/3.5/3 ranch on slab, about 2800 SF, with a fenced backyard and extended patio. My hope is that new families moving to Madison would like the large & pretty flat fenced backyard, and would also appreciate being in a completed neighborhood with no more construction going on nearby.

It seems that the HSV/Madison market has softened since last year; maybe some builders got too excited about BRAC and over built. At one point, we thought a quick sale price migh be around $295K or higher, but now wonder if it may be closer to $275K. Most of the ranch style houses I've seen listed have 2-car garages, so perhaps our 3-car will be a plus.

Thanks for your advice!

[HsvMike]

I have been looking into Bridgefield, there is not a lot of turnover in the subdivision and there are two active homes for sale right now. One has been on the market for 151 days, the other 27 days. There is a 2,880 sq.ft. home, 2 story, listed at $269,900 (this is the one that is 27 DOM) and it does look like it has granite from the pictures.

The big backyard with privacy fence, along with the 3 car garage are big pluses. Especially because most people are looking at moving to Madison for the schools, which means kids.

You are right on with too much new construction right now and the builders are even feeling it. All the new construction are bringing the DOM of the existing homes higher. On a positive note, more potential BRAC transferees are already coming down and looking, which is a great sign so early in the year.

[June-KW]

regarding the countertops, I wonder how many people consider using recycled materials for countertops and how cost efficient they might be? example of what I found via google: GBC: Countertops (broken link) or By Counter Production - Countertop Materials Product Review - Oldhouseweb.com.

[HouseFullaBoys]

I am a Realtor and was working for Jeff Benton Homes at the end of the Reserve. I sold a couple that didn't have granite, but people really wanted it. Other than an undesirable location, the biggest problem I had was the formica countertops. We even pulled some out after construction and changed to granite. I would recommend making the change if it won't break you!

[MadHaus]

I admit to not knowing the area terribly well, since my husband and I only spent a few weeks each year there. My relative is having a house built further out from that neighborhood, for financial & size reasons, but would have loved to have bought our house if it was affordable. What, in your opinion, makes the Reserve an undesirable location? I assume whatever negatively impacts the Reserve would be just as bad for Bridgefield. Is that correct?

[HouseFullaBoys]

I didn't mean the Reserve or Bridgefield were in an undesirable area. There were just certain lots that people did not want, such as right on Wall Triana. (The main street you turn off to get into Bridgefield) There are always things to make certain home sites less appealing such as the size, slope or neighbor who doesn't keep the yard up!

[MadHaus]

Thank you for clarifying! I was worried that perhaps there was something negative about the area that had escaped us. I understand that the lots nearest Wall-Triana would be tough to sell. Fortunately, the house we own is located well back into the subdivision, and the neighbors do maintain their properties nicely. Shortly after closing, I hired a lawn service to make sure that our property was kept up, in part because I felt I owed that to the neighbors. The lot has a slight slope, with the house sitting a little above the neighbors' houses, so it has good drainage.

It seems that we probably won't make any profit on the house, but should at least break even after RE comm. & closing costs. That's okay since it has served its purpose.

[ionlife]

I think, given the Days on Market of many pre-existing houses, it might be a good idea to consider "staging" your house. We are doing that here and we've had tons of foot traffic in our neighborhood. We have 3 other houses on the market competing with us--one no furniture--looks sad. two not properly staged and too many chotzkies that preven the potential buyer from seeing the house as they want to see it for themselves.

Here's a website for ideas:

Shows Well

It has tips for staging and before and after photos.

Good Luck!