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Are you guys seeing things like this in your area as well? Please check out the pics on the attached listing, I am seeing houses in this condition all over my area listed at ridiculous prices for the area.
This area is in a gated community within a "pocket community" of Jacksonville that is trending downwards due to many issues. The development was the place to be when it was built but over time better "trendier" areas have been built that people now flock to. This house in particular is selling for 100k higher than the average house in its peer group in the community.
HOWEVER, as you can see by the pictures the fixtures and decor are literally untouched from the original builders' construction. I am seeing this left and right while home searching in my area but these houses virtually need to be gutted and completely redone, however they are listed in the 200k+ brackets! I get that homeowners are still underwater from pre 2008 but if youre going to list your home at least put some effort into the interior!
Wow, you and I have a whole different idea of a "gut job." This looks like a perfectly livable house. I would lose the plaid carpet and the wallpaper at my convenience, and some of the ceiling fans aren't quite my taste, but I can say that about plenty of brand-new houses -- and "professionally" designed houses too.
A seller of any commodity (well --- maybe not lifesaving drugs ) is entitled to price it at whatever he/she thinks he can get for it. I understand that you may feel frustrated because you aren't seeing suitable properties that you can afford, but it's not the fault of owners who don't "improve" them to your taste before they list.
I know I shouldnt get worked up, its just aggravating at how commonplace it is here. I wouldnt be as mad if home repair costs and lowes bills werent so high. Some of these people listing houses dont even realize a new fence is $3-4k. An A/C unit can be $6k, etc. These bills pile up. If I bought these homes at asking price Id still have to put 40-60k into the house and put WAY more into the house than the comps in the area.
Why do you have to buy anything at the asking price?
I plan on listing my house , which had no dishwasher, is 60 years old, garage door leaks air into house, front window is rotting .. .
I don't care, market should be $180,000, I'm going to list it for $170,000 ... Not everybody wants to play home fixer upper all day .. I have kids and work 60 hrs a week, don't have time to fix house.
I think part of the disagreement here is stemming from posters in vastly different markets than I am in. Like I initially stated this is not in a hot side of town and the overall "quadrant" is trending downwards. There are parts of Jacksonville where a home like this will sell within a week, this is not one of them. These houses are overpriced for the market AND need tons of work, that is the frustration that I was venting.
But again, I don't see how that's your problem? If the houses are overpriced the seller will eventually:
accept a below full-price offer;
reduce the price;
make some improvements; or
take the house off the market.
If you truly can't find a house in your desired area that meets your criteria, then you have unrealistic expectations. I can complain all day long that I can't find a 2000 sq ft turn-key 3/2 property in a good school district in Granite Bay for less than $500K, but that doesn't mean the sellers are wrong, it means that I'm deluding myself.
Wow, you and I have a whole different idea of a "gut job." This looks like a perfectly livable house. I would lose the plaid carpet and the wallpaper at my convenience, and some of the ceiling fans aren't quite my taste, but I can say that about plenty of brand-new houses -- and "professionally" designed houses too.
If the OP thinks that house is a gut job, it's clear he's never seen a REAL gut job! There's nothing wrong with that house that some fresh paint and new carpet wouldn't cure.
Upgrades are very much in the eye of the beholder... different tastes for one thing.
I've posted before of the 1922 Craftsman Bungalow I bought from the original owner that bought in new.
She was quite elderly and had no children... the home was like going back in time and needed airing out, washing down, cleaning etc... most of the window sash cords were broken.
My friends were all ready to help me gut the place...
What I did was go room by room cleaning, making repairs and refinishing...
When I was done, I basically had a 1922 house complete with 1922 plumbing and high leg stove and all the built in and working 1922 windows...
When it came time to sell... I got the highest price ever for the area and the reason is the home had not been remodeled, "Upgraded", renovated or modernized.
My kitchen still had the yellow and blue tile counter tops...
Upgrades are not a guarantee of quality or value...
Last edited by Ultrarunner; 01-05-2016 at 05:29 PM..
Id rather buy a beautiful, well maintained older home that hasn't been remodeled than one that has been remodeled and either done poorly or not to my taste. As a child of the 80's, I was looking for a home that captured that era and actually bought mine without intending to replace the beautiful smoked glass light fixtures and real wood cabinets.
Upgrades are very much in the eye of the beholder... different tastes for one thing.
I've posted before of the 1922 Craftsman Bungalow I bought from the original owner that bought in new.
She was quite elderly and had no children... the home was like going back in time and needed airing out, washing down, cleaning etc... most of the window sash cords were broken.
My friend were all ready to help me gut the place...
What I did was go room by room cleaning, making repairs and refinishing...
When I was done, I basically had a 1922 house complete with 1922 plumbing and high leg stove and all the built in and working 1922 windows...
When it came time to sell... I got the highest price ever for the area and the reason is the home had not been remodeled, "Upgraded", renovated or modernized.
My kitchen still had the yellow and blue tile counter tops...
Upgrades are not a guarantee of quality or value...
In the early 1990s my brother bought a home that had been occupied by some old man that had had it forever. The house probably dated from the early 1920s and when my brother bought it, there were still newspapers sitting around on the counter from 1955. Anyway, my brother bought it from the probate court for not much money. He did some cosmetic work And when he sold it, he made a small fortune.
Upgrades are very much in the eye of the beholder... different tastes for one thing.
I've posted before of the 1922 Craftsman Bungalow I bought from the original owner that bought in new.
She was quite elderly and had no children... the home was like going back in time and needed airing out, washing down, cleaning etc... most of the window sash cords were broken.
My friend were all ready to help me gut the place...
What I did was go room by room cleaning, making repairs and refinishing...
When I was done, I basically had a 1922 house complete with 1922 plumbing and high leg stove and all the built in and working 1922 windows...
When it came time to sell... I got the highest price ever for the area and the reason is the home had not been remodeled, "Upgraded", renovated or modernized.
My kitchen still had the yellow and blue tile counter tops...
Upgrades are not a guarantee of quality or value...
Thank you for respecting the integrity of the house's architecture. It sounds STUNNING. I would have loved to see it.
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) is entitled to price it at whatever he/she thinks he can get for it. I understand that you may feel frustrated because you aren't seeing suitable properties that you can afford, but it's not the fault of owners who don't "improve" them to your taste before they list.
