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It depends really, and I'm speaking mostly of what I encountered in the spring/summer of last year. Homes with a great use of space, on nice streets, walking distance to the train, well priced, or with great renovations did go very fast. Some went over asking, some went under, but the average in Larchmont is about 98% of list - I think better than any other town (or maybe people here price better on the front end?)
Many homes here have bedrooms all over the place - a major negative for many families. We were in about the same price point as you, but went higher in the end because we just weren't happy with what we could get in that range here, and the town was worth it for us.
Zillow doesn't always show a true picture. Our home looked totally renovated on the listing because of course the realtor is only going to show what is good to look at. So one would infer from our listing that we got a steal when in fact we did not since we had to undertake a good many renovations, but not knocking down walls kind of stuff.
Also, you are correct that if you are going to renovate, you can't cut too many corners or you'll just throw money away. We saw many homes supposedly renovated but poorly. We even saw a home in Edgemont with an IKEA kitchen. Nuts.
Hi ehmom,
Thanks for your advice. How did you parents decide to use H.Lawrence? Did they compare commissions? How much did H.L. charge in commissions (%)? Were they worth it, or would you recommend another broker or way to sell a home in Chappaqua?
I am also looking for a place in Southern Westchester. I would rent/share a place (being single), or consider buying. How is your search going? Are you looking to buy or rent? Any search strategies working..i.e. craigslist, broker or other source? Where in Southern Westchester?
I am not that familiar with blogs or posting. Please let me know if you are receiving this reply, and any recommended steps and procedures to blog/reply in the future.
Hopefully I am not too redundant. How much in % commission did your parents pay to sell their home in Chappaqua? Is there a ballpark way to estimate the closing costs to a seller?
"We even saw a home in Edgemont with an IKEA kitchen. Nuts.
Oh the humanity. Next thing you're going to tell me is that some people even have butlers that don't drive."
I'm not trying to be rude, but when you are trying to sell a million dollar home, you cannot get away with cheap renovations such as vinyl siding, IKEA kitchens and Pergo floors. I mean, you can, but you have to know that many people aren't going to give you any return on your investment since they are going to want to rip it out and do it right.
It's not like we were looking at raised ranches in Yonkers or anything.
Hi ehmom,
Thanks for your advice. How did you parents decide to use H.Lawrence? Did they compare commissions? How much did H.L. charge in commissions (%)? Were they worth it, or would you recommend another broker or way to sell a home in Chappaqua?
I am also looking for a place in Southern Westchester. I would rent/share a place (being single), or consider buying. How is your search going? Are you looking to buy or rent? Any search strategies working..i.e. craigslist, broker or other source? Where in Southern Westchester?
Thanks for your help.
Barry
Sorry, I didn't notice this post earlier. They were referred to an agent at HL - not sure which one. But Houlihan Lawrence has a good handle on selling in Chappaqua, so assuming you get a recommendation you should probably be fine. I would ask around in Chappaqua, personally. I think that's the best way to get someone.
My guess is most places have similar commissions, so I don't think that was a factor when my parents sold. But you may want to post a separate thread on the Westchester board to ask if commissions are at all negotiable these days.
I'm looking to buy and my search has just started - I rent now and I'm not in any hurry at the moment, so I expect it will take a little while until new places start getting listed. I'm using buyers brokers for the different towns I'm targeting. My first broker I found through my sister, and the other two are colleagues of the broker in the other towns. I personally like that approach, but that's just me.
As for your question about where to look in southern westchester - well that depends on what you're looking for, how much you're looking to pay, etc, etc,. You might try starting another thread with a little information on your requirements and see what responses you get.
I've heard bad things about Coldwell Banker in Chappaqua. I would stick to the local folks like Houlihan Lawrence or Sotheby's, they have a very good reputation and will do their best to not dump another house in your market segment (something CB or Prudential will do in a heartbeat).
Their commission is usually around 5%.
Now, the market now is pretty much hit rock bottom so... wait it out if you can. Prices will go back up eventually (even though everyone keeps saying otherwise). Interest rates are ridiculously low and the school district in Chappaqua is one of the best in the state/country, so you're sitting on a gold mine.
I've seen some houses in Chappaqua chase the market down and now am seeing lots just leaving the market, which is a good sign, because the people desperate to sell at any price are gone, so now prices are going to rebound.
Thanks for great advice. Any personal opinions as to average price increase next year and the following (YE2013) in Chappaqua (walk to train, great semi private road, 3300 center hall colonial 5 b/r and 3 baths 1 acre). Heard other opinions; baths and kitchens need to be gutted, wallpaper. beautifully landscaped specimen trees, beautiful exterior. would you leave that for a future buyer, personal opinion? current appraisal $600K, est. renovations $125K thanks. p.s. taxes $26K
Thanks for great advice. Any personal opinions as to average price increase next year and the following (YE2013) in Chappaqua (walk to train, great semi private road, 3300 center hall colonial 5 b/r and 3 baths 1 acre). Heard other opinions; baths and kitchens need to be gutted, wallpaper. beautifully landscaped specimen trees, beautiful exterior. would you leave that for a future buyer, personal opinion? current appraisal $600K, est. renovations $125K thanks. p.s. taxes $26K
Thanks for great advice. Any personal opinions as to average price increase next year and the following (YE2013) in Chappaqua (walk to train, great semi private road, 3300 center hall colonial 5 b/r and 3 baths 1 acre). Heard other opinions; baths and kitchens need to be gutted, wallpaper. beautifully landscaped specimen trees, beautiful exterior. would you leave that for a future buyer, personal opinion? current appraisal $600K, est. renovations $125K thanks. p.s. taxes $26K
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commissions for selling a home
