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Since the purchase price of 1998, the poster should expect ALL OF IT, and then some!! You people are crazy if you think this seller should not get more than the 98k she paid in 1998!
It's not about what she SHOULD get, what you assert that she is ENTITLED to get - it's about what the market will bear. I hope she does, but it's certainly not guaranteed, right?
Location: Pittsburgh--Home of the 6 time Super Bowl Champions!
11,310 posts, read 12,370,519 times
Reputation: 4938
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Originally Posted by tilli
To you. Vinyl is much easier to clean than grout, especially in areas where mildew is an issue like bathrooms.
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Or, they could make an offer on your place but hold back what they think they would need to renovate to their own tastes.
Then they don't have to buy my house, do they? They can hold back all they want but if it isn't FAIR MARKET VALUE (CURRENT COMPS!!!--there's that phrase again!) then they are NOT buying my house.
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Of course not. I'm saying that 6 year old appliances are not a selling point, no matter how "new" they were when you renovated, they aren't new now.
I didn't say they were a selling point, only that they were all new at time of remodel.
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5 years can take a lot out of a carpet. I suppose your's is fastidiously clean though.
Talk about sarcasm....
I have it professionally cleaned every Spring. I also cleaned it myself last October which I did a better job cleaning it then the pros did.
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Why not? If they are going to have to renovate to get rid of something that they don't like, they need to take that into consideration. They need to take a declining market into consideration. A buyer's perception of value may be increased by your upgrades, but if they hate your upgrades then the value may not be increased or may decrease.
Again, they don't have to buy my house if they don't like my renovations, because I am NOT paying for their renovations! I paid for my own and I'll be damned if I'm paying for someone elses renovation!!
The point here is that anyone who is whining about home prices being "overpriced", thinks values are still falling, and just overall against buying until the "bottom hits", whatever that is, oh crystal ball bearer, when and the bigger "IF" they do actually buy, they'll be the first to whine about there home being worth more than they paid and expect it to be, as history shows a home DOES appreciate, period! Hope this helped explain for your understanding!
Home prices ARE still falling. Maybe that decline has slowed but nothing suggests a bottom yet. (very few exceptions)
As a current buyer I assume/expect that if I buy in the next few months (NJ) that whatever I BUY will lose value in the short term and if LUCKY (timed it right at bottom by blind luck) then best case stays flat for some period of time. Houses will appreciate over time but any small slice of that time (months to a few years) you may not see that appreciation and may actually lose money. Part of the risk.
Then they don't have to buy my house, do they? They can hold back all they want but if it isn't FAIR MARKET VALUE (CURRENT COMPS!!!--there's that phrase again!) then they are NOT buying my house.
Nope, they don't have to buy your house, you don't have to sell your house. They also don't have to pay extra for what you consider upgrades.
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I didn't say they were a selling point, only that they were all new at time of remodel.
Sounded like a list of selling points to me, but OK.
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Talk about sarcasm....
I have it professionally cleaned every Spring. I also cleaned it myself last October which I did a better job cleaning it then the pros did.
It wasn't sarcasm. I assume that since you are so savvy that your light colored carpets are very clean. However, 5 year old carpets in general can get pretty worn and dirty in that timeframe, and could also be completely out of style. And as I have mentioned, I responded to you as an example on the general subject of "upgrades" versus value - I have not seen your house. I am speaking generally. Don't take my posts so personally.
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Again, they don't have to buy my house if they don't like my renovations, because I am NOT paying for their renovations! I paid for my own and I'll be damned if I'm paying for someone elses renovation!!
And buyers may feel exactly the same way and not want to pay for your renovations.
I assume TexasGirl@heart is simply stating that her renovations/upgrades/personal design changes are at least considered UPGRADED with regards to what was previously there.
Sure one may not get full value back from that but generally if you replace a 70's dated kitchen with a new 2000+ kitchen that will add value regardless if the style of the upgrade is favorable to the buyer. (Very few people want 30+ year old formica counters versus even an ugly granite pattern for example)
To you. Vinyl is much easier to clean than grout, especially in areas where mildew is an issue like bathrooms.
Or, they could make an offer on your place but hold back what they think they would need to renovate to their own tastes.
Of course not. I'm saying that 6 year old appliances are not a selling point, no matter how "new" they were when you renovated, they aren't new now.
5 years can take a lot out of a carpet. I suppose your's is fastidiously clean though.
Why not? If they are going to have to renovate to get rid of something that they don't like, they need to take that into consideration. They need to take a declining market into consideration. A buyer's perception of value may be increased by your upgrades, but if they hate your upgrades then the value may not be increased or may decrease.
So let me get this straight here. It is not the buyers problem if the seller put money into their home upgrading it and they should not see any of that money back. However, it IS the sellers problem that the buyer does not like the upgade and should basically pay the buyer to upgrade it to their liking. Are you kidding me? If you don't like the upgrade you can either not buy the home or fix it to your liking. But to think the seller is responsible for making their home to your liking is completely insane.
Kristine
I assume TexasGirl@heart is simply stating that her renovations/upgrades/personal design changes are at least considered UPGRADED with regards to what was previously there.
Sure one may not get full value back from that but generally if you replace a 70's dated kitchen with a new 2000+ kitchen that will add value regardless if the style of the upgrade is favorable to the buyer. (Very few people want 30+ year old formica counters versus even an ugly granite pattern for example)
I understand that. That is why I have stated several times that I am speaking generally and just using her as an example - I am sure that she has great taste and made good choices with universal appeal. I am not being sarcastic. But I have seen some houses on the MLS that are crowing about their "upgrades" and they are HIDEOUS. In a down market, upgrades may sell the house but they may not bring any extra money, and if your upgrades are not to a buyer's taste it may decrease the perception of value rather than increasing it.
Location: Pittsburgh--Home of the 6 time Super Bowl Champions!
11,310 posts, read 12,370,519 times
Reputation: 4938
Quote:
Originally Posted by hammy5
So let me get this straight here. It is not the buyers problem if the seller put money into their home upgrading it and they should not see any of that money back. However, it IS the sellers problem that the buyer does not like the upgade and should basically pay the buyer to upgrade it to their liking. Are you kidding me? If you don't like the upgrade you can either not buy the home or fix it to your liking. But to think the seller is responsible for making their home to your liking is completely insane.
Kristine
Location: Pittsburgh--Home of the 6 time Super Bowl Champions!
11,310 posts, read 12,370,519 times
Reputation: 4938
Quote:
Originally Posted by tilli
I understand that. That is why I have stated several times that I am speaking generally and just using her as an example - I am sure that she has great taste and made good choices with universal appeal. I am not being sarcastic. But I have seen some houses on the MLS that are crowing about their "upgrades" and they are HIDEOUS. In a down market, upgrades may sell the house but they may not bring any extra money, and if your upgrades are not to a buyer's taste it may decrease the perception of value rather than increasing it.
Historically, did upgardes always give sellers a higher price on their home? Or was this mentality started by HGTV?
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