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You more or less admitted you didn't buy the house because of the house, but you bought despite the house. Other things were clearly more important to you and you only wanted a roof over your head and this was the house you could afford. The house and your treatment of the house and property as a homeowner does reflect this indifference.
Most buyers aren't quite so indifferent to the houses they buy. It's not necessarily a case of wanting granite counters in the kitchen (which I'm not fond of) but the overall quality of the house and its finishes is not only cheap but to use for a lack of a better word, "poor." It reminds me of worn out old houses you find in very working class neighborhoods or depressed small towns. Your kitchen perfectly illustrates this. It's dark, uninviting and looks worn (although it certainly does look clean). It's the kind of house that should normally be selling for between 50-100K in most of America. That's what many buyers in the 250K range will be thinking when they see your house.
As I mentioned in a previous post, it's probable that if you're able to sit on the house and wait, you will find a similar buyer like yourself, someone who only wants the location and is indifferent to the quality of his living space as long as it's sturdy enough and dry. But if you need to sell quickly you need to be aware that most prospective buyers, no matter how much they may love the location, will immediately write off the house. Some buyers who may accept the tiny size will be disappointed there's nothing to compensate for it, not even a bright and cheerful Ikea kitchen.
Compare your house to the houses across the street (as per google earth). They are still modest houses, but they have a more substantial feel to them, more permanent rather than a "cottage." The properties are visibly in good shape and well maintained, if not with love then with respect. It implies a lot about the homeowners as well as what you might find inside, whereas your house sends out too many negative vibes.
Quote:
Originally Posted by Fiddlehead
As for the house, yes, it a postwar cottage. Modest. But it provided a great lifestyle. How many people have nice park, public pool, and good school at the end of their street and can walk to work or to a small university in one of the nicest towns in the western US? I used to jog down the street to the bike path and trot on to the Middle School, High School, or universitiy tracks and work out while reveling in the views, walk downtown or take wooded back trails (a 1.5-2 hour hike) to Lithia Park or a Shakespeare Festival, or hike straight from the house up to the wilderness trails leading up to the Pacific Crest Trail, and Mount Ashland (a 5,000 foot climb over about 7-8 miles). And to sit under the maples in the back yard was heavenly, or to hide easter eggs in the jungly yard. Great neighbors with little pretence and almost no crime. The place doesn't snow that much, but looks like Colorado when it does. White mountains all around. Many, many, many good memories, and very few regrets. I don't mind selling it for a fair, even excellent price, but it is hardly a dog I am trying to unload, it us truly a great place to enjoy a wonderful lifestyle.
There's something about the phrase "starter home" that is so....insulting. Houses are not meant to be things you serially inhabit, the next one bigger, the next one even bigger, and on into infinity. "Starter home" is a realtor's phrase for "small n' cute" but there's actually a large demographic who could live there for decades. Childfree couples come to mind.
Anyway, rip down those curtains, but quick! They read like rags from my screen.
I just sold a "starter home" on the other side of the country in a day. It's a highly desirable city near a trunk line of Metro North for commuting into NYC.
It's a 1926 Sears home, with a fairly small kitchen, one tiny bathroom, two average sized bedrooms and an unheated attic which served as a third bedroom. My parents bought it in 1953 for $13,000. I grew up there, my older brother had it until he passed last year. My other brother and I redid the floors, put in new kitchen cabinets, replaced the tub, repainted inside and out and did what we could until we ran out of cash. The garage doesn't even have a decent roof - it's covered with a tarp.
But a solid bid was put on it at the first open house. We settled on terms a couple of days later. Listed for $419K, final sale $393.5K. The average sale in this town is $450-$500K with many million-dollar homes.
The keys were location and that the house was positioned as one with good bones that could be built up - the attic could easily be built out to a master suite with a decent sized bath and walk-in closets.
We weren't selling it on the charm of a small starter home. We positioned it as a home that could expand and be worth a ton more down the road if someone wanted to put in the time and money. Additionally, two-car garages are rare, and although this one isn't in good condition, it would not be difficult to reinforce/rebuild from the inside out. In other words, selling it as an investment, although one could live there certainly.
This was the copy for the listing:
Quote:
First time to market rarely available xxxxxxxx location, New Kitchen and Bath, Family room with new carpet opens to kitchen, living, dining, and bedrooms rooms all with newly refinished hardwood floors. Walk up attic with bonus area makes for easy expansion, full basement for storage and 2 car garage. This is an Estate being sold as is.This convenient location boasts Walk to train, minutes to all shopping.
You more or less admitted you didn't buy the house because of the house, but you bought despite the house. Other things were clearly more important to you and you only wanted a roof over your head and this was the house you could afford. The house and your treatment of the house and property as a homeowner does reflect this indifference.
Most buyers aren't quite so indifferent to the houses they buy. It's not necessarily a case of wanting granite counters in the kitchen (which I'm not fond of) but the overall quality of the house and its finishes is not only cheap but to use for a lack of a better word, "poor." It reminds me of worn out old houses you find in very working class neighborhoods or depressed small towns. Your kitchen perfectly illustrates this. It's dark, uninviting and looks worn (although it certainly does look clean). It's the kind of house that should normally be selling for between 50-100K in most of America. That's what many buyers in the 250K range will be thinking when they see your house.
As I mentioned in a previous post, it's probable that if you're able to sit on the house and wait, you will find a similar buyer like yourself, someone who only wants the location and is indifferent to the quality of his living space as long as it's sturdy enough and dry. But if you need to sell quickly you need to be aware that most prospective buyers, no matter how much they may love the location, will immediately write off the house. Some buyers who may accept the tiny size will be disappointed there's nothing to compensate for it, not even a bright and cheerful Ikea kitchen.
Compare your house to the houses across the street (as per google earth). They are still modest houses, but they have a more substantial feel to them, more permanent rather than a "cottage." The properties are visibly in good shape and well maintained, if not with love then with respect. It implies a lot about the homeowners as well as what you might find inside, whereas your house sends out too many negative vibes.
I don't agree with the bolded. I LIKED the house. It felt much more appealing than the flat 1970s ranches on the other side of town. It had more character (in my opinion). True, location and lifestyle were important, but I really did like the house.
That said, I do agree with your previous comment that my (former) demographic has shrunk because of the economy, and I appreciate the implication that I need to take a view of other demographics, to see what they would want. To be honest, it seems like they just don't want a house of this size or quality, except perhaps as a flip, so it is hard to imagine getting out what I have into it with the wealthier, older groups. I may be forced to accept that.
IMO you've hit on the biggest snag preventing recovery of the housing market in many areas of the country, Fiddlehead. It's rough out there for young people starting families.
I disagree with Tallybait. I think the most likely purchaser for your place will be an older person (probably from CA) looking to downsize. But that individual is not going to be looking for a place that needs a lot of work, either initially or over the long term. They're going to want an easy-care yard, for example.
Only one of the other posters has mentioned what was the biggest red flag for me: when were the roof, windows, electrical, plumbing and HVAC last improved or replaced? The AC says "other" -- does this mean an old swamp cooler? Not that you really need AC in Ashland, but it could be a turnoff. Houses built in 1950 (and I have lived in a couple, so know first-hand) didn't have insulated walls and are expensive to heat and cool. Have you at least put insulation in the attic? How old are the windows, and are they double-pane?
You can fluff and puff and stage and fix the photos all you want, but a smart buyer with a good agent will be asking you all of the above questions before they make an offer. It may be why your only offer was so low.
Just a comment on the AC. Yes, it is a swamp cooler, and I actively searched out the model and had it installed. It works WONDERFULLY in that climate, as it the summers tend to be dry and not super hot. Given the modest need for AC (you really need it, but only for a few weeks), and the particulars of the local climate, it is a tremendously cost-effective (swampers cost about 1/5 as much to run as AC) and effective solution. But, I realize most buyers will not understand the economics and physics of the choice, so it may be a negative in their eyes. Otherwise, I have insulated all around, installed double paned windows, etc. It is an energy efficient home, and cheap to heat and cool.
A number of friends and co-workers retired to Medford/Ashland area and some as far as Beaverton.
Down to the last person, each bought homes less than 10 years old with nice landscaping...
I'm in the SF Bay Area and these retired folks wanted a minimum of 3 bedroom, 2 bath with a garage and most RV parking... most bought in the mid 300's with some much higher... all needed room for kids and guest to visit.
My neighbors son moved to Ashland and loves it there... his wife is from there... he found it very difficult to get a job... finally he found something a little over minimum wage with the city... he's happy... it's about a third of his Bay Area wages and almost stress free... they rent from the in laws and pay $650 a month...
A number of friends and co-workers retired to Medford/Ashland area and some as far as Beaverton.
Down to the last person, each bought homes less than 10 years old with nice landscaping...
I'm in the SF Bay Area and these retired folks wanted a minimum of 3 bedroom, 2 bath with a garage and most RV parking... most bought in the mid 300's with some much higher... all needed room for kids and guest to visit.
My neighbors son moved to Ashland and loves it there... his wife is from there... he found it very difficult to get a job... finally he found something a little over minimum wage with the city... he's happy... it's about a third of his Bay Area wages and almost stress free... they rent from the in laws and pay $650 a month...
Interesting. That seems to match the general pattern (boomers flush, kids not buying). I will say, we have a few retirees on the street, and they seem to enjoy it. It really has to be those who enjoy gardening, puttering around the house, etc. Seems like those with the $$$ would want newer homes. Makes sense. Why deal with maintenance issues late in life?
I don't agree with the bolded. I LIKED the house. It felt much more appealing than the flat 1970s ranches on the other side of town. It had more character (in my opinion). True, location and lifestyle were important, but I really did like the house.
That said, I do agree with your previous comment that my (former) demographic has shrunk because of the economy, and I appreciate the implication that I need to take a view of other demographics, to see what they would want. To be honest, it seems like they just don't want a house of this size or quality, except perhaps as a flip, so it is hard to imagine getting out what I have into it with the wealthier, older groups. I may be forced to accept that.
most people only have a few homes to pick from in there budget, you take the one you like best at the time you need to pull the trigger. with that being said your pictures do not reflect the charming cottage or the ideal lifestyle the neighborhood affords.
you need to stage your property. it shouldn't cost much. have a yard service come in to trim and tidy up your yard. very important for curb appeal as well as to show your buyer the yard is somewhere they will want to spend time in. take down the clothes line, get rid of any junk. set up a sitting area. winter is around the corner so you can't really bring in flowers but the yard can be clean. stage it the best you can.
you have a patio back there that isn't being staged at all. make this place special. maybe an outdoor rug and a patio set.
the kitchen is a hard sell, as it is old fashioned and the refrigerator seems to stick out like a sore thumb. add some color to the space. if you don't want to paint a feature wall, then bring in a set of colorful dishes, and a few kitchen things to at least give your buyer an idea of how it would live. your kitchen is stark which shows off the limitations. make the room look homey. staging. you could also really make the kitchen charming if you painted it to accent it's features. check out some mags. you can find great ideas.
same thing with your living room, it is a mish mash of stuff. buy some toss pillows all the same color or pattern, stage the room. you need color and cohesiveness. a new futon cover, a rug or two will go a long, long way.
if all else fails or you just don't want to fix it up any more than you have, you just have to lower it until it sells and take the hit. it is a bummer we took a huge, huge bite a few years back they are never fun. best of luck
... The house is listed in the low $200s, and I know houses in the $300-400k range are selling briskly. I have cut the price to very close to what I paid for it in the early 2000s, so I don't think the price is excessive, but perhaps the market has become so gentrified no one wants it. I did receive one lowball offer, which would be a $10-20k loss for me, all considered, so I am trying to figure out whether I should take that or rent it this winter and try again in the spring. What would you do? Any and all idea / strategies welcome!
Here's the thing: something called a "starter home" is being pitched to young, first-time home buyers. For starters, not all that many young people are willing to do home repairs. They consider themselves too busy, even if they aren't.
If the home needs serious improvements to be up to par with the neighbors (and it's fair to say yours does) then it has to be priced right to allow for needed renovations because your buyer is usually an investor. That means that AFTER the buyer does all the work, they should have a home equal to others in the neighborhood, but also that can be SOLD by them for a price that will allow them to recoup their expenses. Face it, that's exactly what YOU want.
You paid $205,000 according to the Zillow listing. You've lived there for 11 years but, judging from the photos, you haven't brought the house up to be equal to what the others on the street. Yet you want to sell for a profit. I don't think it's realistic to say that selling your house at the low-ball offer would equal "a $10-20k loss for me." Remember, had you been renting even at $1,000 a month for the past 11 years, you'd have paid out $132,000 in rent. To some extent you have to factor in that figure to calculate what you are "losing."
I'm the kind of person who loves character houses. My first house was built in 1897 and the second in 1927. I know rehab. I could turn your house into a pristine English cottage charmer. But not for free. And if I were to do the work, I'd be insane to do it in a way that priced the tiny place out of market value. Which I would definitely be doing if I paid your asking price then did renovations on top of it.
I agree with those who say the most likely buyer for a home the size and location of yours is not a young person, it's a retiree. But I don't know very many retirees who want to move into a place that needs as much work as yours does. Your buyer is a person willing to tackle a fixer upper, so I would say your strategy should be to market this as a fixer-upper and price it accordingly.
As for your current listing, I agree that the photos don't do the house any justice. Your kitchen is not the problem but, as a buyer, I see a red flag when there is no bathroom photo. Personally, I also consider chain-link fences to be a red flag. What are you keeping in or keeping out? I get that you don't want bare windows if your house is currently empty, and I suspect you tied off the curtains to get light in the photos. But honestly it looks terrible. The person who suggested investing in inexpensive blinds made a good point. Keep them down when no one's in the house and open them all the way when a buyer is walking through. I also would have removed all my personal belongings before I shot the photos. Leave minimal furnishings and a few accessories only.
The way I see it, you have two choices. Make a significant price reduction, or do some work (primarily on the landscaping/curb appeal), take new photos, and make a smaller price reduction.
Best of luck and thanks for taking all our criticisms with equanimity.
I disagree on the chain link fence. Alot of people have fences because they have pets or would welcome a fence because of pets.
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