topic Re: What a Pride Buster in Home

What a Pride Buster

Thrive — Fri, 24 Aug 2018 18:35:47 GMT

My sister and I finally put our parents house on the market. They lived in a very upscale community. The house is 40 years old. The first visitor to the house left the comment that the house was in a wonderful neighborhood. However,it needs too much updating. The only update my dad did was in the kitchen. We have cleaned constantly and thrown out tons of stuff. My dad threw nothing away! We don't have the money to update the home. It is being sold by a Realtor. I am so sad to see this kind of feedback. I already feel doomed. I'm not sure what to think. It's so expensive to keep this house going after two years of it being empty. My sister couldn't face dealing with it for a year. Nevertheless taxes, usual home repairs ielumbing, alarm system., snow removal, oil for heat, gas and electric, and etc. have continued. The thought that these bills will continue is very scary because I am retired. Thanks for listening. I am really concerned.

Re: What a Pride Buster

Mz iMac — Fri, 24 Aug 2018 18:42:14 GMT

Is the house being sold "as is/fixer upper?"

Re: What a Pride Buster

Sooner — Fri, 24 Aug 2018 18:42:52 GMT

Welcome to my world. I have done it several times and it can sure keep you awake at night. You can do some updating or offer a bonus for updating in the price.

Cleaning out the house is important, and an estate sale company is a blessing! Get one that will mark eveything, donate what they can't sell, and clean the house, and give you part of the profits.

Take a beating on the price if you have to because keeping it is a huge expense and a constant worry that something will happen.

I feel your pain. Don't let sentimental feelings keep you from moving on a lot of these things. That goes away after a while.

Re: What a Pride Buster

IMW — Fri, 24 Aug 2018 18:45:21 GMT

Sometimes it is necessary to reduce the price to under what most updated homes in the area are selling for.

Weigh the $value of the stress vs the $ you might get.

Pride and economics vs aggravation and worry.

It is so very sad to see the things our parents and we loved and took such good care of devalued. It hurts the heart and soul.

I’m sorry for what you’re going through, I wish you good luck.

Re: What a Pride Buster

novamc1 — Fri, 24 Aug 2018 18:55:23 GMT

It's hard to hang onto a parent's home, even if he/she is in assisted living and doesn't live in the home.

However, in my family's case with my dad's house, his homeowner insurance company lowered the final boom and said that after two years of vacancy, it would no longer insure his house.

(It's important to keep an insurance company informed about a vacant condition. Insurance might not fully cover a fire or vandalism or other incident if it was not informed about what it was insuring.)

I was happy to have the insurance company's backing so I could finally persuade my Dad and my sibling that the house had to go.

We got it done quickly. I called a Realtor friend and she got us 15 offers--most of them above the list price-- in less than 48 hours. Sold to a builder who was going to tear it down and build a big new one, which is exactly what that old house on valuable land needed!!

Re: What a Pride Buster

Skididdy — Fri, 24 Aug 2018 18:53:17 GMT

@Thrive, so funny you bring up the post.

JUST YESTERDAY, WE CLOSED AND SOLD OUR FOLKS HOME ...after being on the market for 4 months. DO NOT FRET.

Our situation...blt in 1964, all brick ranch, not updated at all, but original wood floors that were in great shape, original crown molding.

Thats all we did was hire a painter, and paint every room.

It does take the right buyer. Do not get discouraged.

I let the realtor handle all of it, I did not want the daily info on showings or comments, it made it easier.

After all was said and done, I reduced the price once we had a serious offer. They accepted and its over. A WEIGHT LIFTED.

If you have a good realtor, they will get the right people in there to view the home. The right person at the right time is what it took.

Keep your chin up....let the realtor deal with the daily babble, and it will happen. Heck with peoples feedback...we also had to clean the entire place out..very overwhelming for sure.

KEEP THE FAITH.....

Re: What a Pride Buster

Laura14 — Fri, 24 Aug 2018 18:54:43 GMT

I'm so sorry @Thrive. Don't take the feedback personally. To you, it's your family home. To a stranger, it's just wood. In other words, they don't really know what they are talking about. It's all about them and their needs and if it doesn't fit, NEXT!

The right person will come along and take on the challenge to make it their own. And while it does need to be priced according to the market, that's what you pay a realtor for. He/She will take care of that. Let them.

With interest rates on the rise, I'll bet you'll find your new owner quickly. It just takes the two of you finding each other. And you will. Good Luck!

Re: What a Pride Buster

NickNack — Fri, 24 Aug 2018 20:44:25 GMT

@Thrive I understand how you feel. My sister and I had to clean out my father's 60 year old house a few years ago when he had to move to an Independent Living facility. He never threw anything away, and it was awful. It hadn't been updated or painted in many years. We ended up selling it to the first person who looked at it as an investment. It was in a very nice neighborhood, too. We didn't feel like we could do any updates to sell it either. We did have the carpet removed. The floors underneath were in good shape. Your parents' house will sell if the price is right.

Re: What a Pride Buster

millieshops — Fri, 24 Aug 2018 19:05:53 GMT

@ThriveI'm sorry you have to do this, but please do not let your dismay affect your decision-making. You say the situation is a pride buster, but nothing you are confronting is your fault, imo. You were not and probably are not even now in control.

I think @Soonerhas offered good, specific advice. Maybe you and your sister will see something in her message that applies to you.

Re: What a Pride Buster

Mominohio — Fri, 24 Aug 2018 19:14:52 GMT

All markets are different but don't get discouraged this early.

Take a good look and do what you can with what you have. If you can afford simple things that will make the place look more updated, go for it. Cheaper things like paint, staging with the right things, deep cleaning of certain things like carpet etc.

Is the home empty? I prefer an empty home to look at and if there is still some stuff and it looks half empty with not such nice things or incomplete look, that might be hurting you too.

Give it time and make sure they are getting lots of people through.

Not everyone wants a 'done' house. I know it isn't the biggest factor to me, because most people are going to do things in colors and styles that I won't find appealing and I don't want to pay for their remodel. I'd just as soon get it in 'need' of some work and do it myself. And I know there are a lot of people that feel the same.

Just know the price may have to be adjusted to compensate for what needs done.

I know in our market, a house that sells in a week or a month most likely is underpriced. Give it some time, and don't take it all to heart. It will sell, just at what price, but don't sell yourself short just yet.

Re: What a Pride Buster

novamc1 — Fri, 24 Aug 2018 19:24:56 GMT

Maybe something needs to be emphasized here that I mentioned in my earlier post........OP said house had been vacant for two years while owner was living elsewhere.

Be careful with that when it comes to homeowner insurance. As far as the insurance company probably knows and presumes, the house is owner-occupied and being maintained in a normal manner.

Now.........picture the insurance company's response if a fire breaks out, a broken pipe floods the house and no one is present to shut off the water supply, some silly kids or adults take advantage of and damage the property, or someone gets hurt on the property and seeks liability damages.

Vacant houses DO NOT take care of themselves.

I spent many years in real estate, handled many sales for deceased owners for their offspring, and I think I am giving some good advice to not put your parents--or your own potential inheritance--- at financial risk by hanging onto a house for years after no one lives in it.

Price it low. Enjoy the rush of offers you might receive, and get rid of this proverbial burdensome and expensive elephant in the room.

Re: What a Pride Buster

Mominohio — Fri, 24 Aug 2018 19:18:17 GMT

I'll add that if this is indeed a very upscale community, someone is going to jump on a much cheaper home (because of the needed updating) just to get in the area, then put money in and do it their way. There are a lot of people that will see this as a great opportunity to buy into an area they might not otherwise be able to afford.

Re: What a Pride Buster

RedTop — Fri, 24 Aug 2018 19:25:18 GMT

If it’s a solid built home in a good neighborhood, the right buyer will come along.

Re: What a Pride Buster

Imaoldhippie — Fri, 24 Aug 2018 19:49:47 GMT

Dont freak out over 1 comment. Some people dont want a fixer upper and others do. Rest easy and give it a chance.

Re: What a Pride Buster

Sooner — Fri, 24 Aug 2018 20:01:51 GMT

Real Estate is too big a financial consideration to let your emotions get you. Figure up the costs to keep the house and what you might realistically sell it for and then make some decisions.

The last house we sold they cut off insurance at 1 year of unoccupancy and we had to scramble to get another insurance company. That's always a problem with unoccupied houses.

Re: What a Pride Buster

Q4u — Fri, 24 Aug 2018 20:06:13 GMT

My Mom and Dad's house was unlived in for nearly two years and the biggest thing I noticed is that an unoccupied house degrades in ways I didn't expect. I usually went every day to check things out, water and/or mow the lawn, wipe down the kitchen, etc. and (don't laugh) but the house seemed to like it. My husband and sons would also come on the weekends to nail/paint/fix whatever we thought might need it. It sold pretty quickly and were releived when it did so. It also needed updating but our price reflected that.

Good luck and please don't stress....

Re: What a Pride Buster

novamc1 — Fri, 24 Aug 2018 20:12:03 GMT

I often think sellers overlook the opportunities they have to price low and ignite a bidding war on their property that can net them more money than so-called "market value" or "asking price".

People love a bargain. They can lose their heads in a bidding war over a bargain.

I love bidding wars, especially in real estate!!

Re: What a Pride Buster

LiveLaughLove — Fri, 24 Aug 2018 20:29:48 GMT

Bear in mind that oftentimes people will make that kind of comment hoping to "encourage" a rate reduction.

Re: What a Pride Buster

151949 — Fri, 24 Aug 2018 20:34:36 GMT

Most of what you are going to read on this board on this topic is based on opinions not facts. Don't make any decisions based on what you'll read here.

I agree with the person who said to just leave it in the realtor's hands, and try to stay as distant from it as possible. Sometimes the things people say on those feed backs are just cruel -we learned the hard way!

Re: What a Pride Buster

homedecor1 — Fri, 24 Aug 2018 20:38:30 GMT

@Mominohio wrote:
I'll add that if this is indeed a very upscale community, someone is going to jump on a much cheaper home (because of the needed updating) just to get in the area, then put money in and do it their way. There are a lot of people that will see this as a great opportunity to buy into an area they might not otherwise be able to afford.

@Mominohio

that is exactly what is happening in our community. It is a golf course country club over55 - many, including me loved the community but home prices are high (not including hoa, taxes, etc).

The last year many older residents have passed or went with family, etc. Many including me who bought here have said they were able to buy in here because got home at good price due to needing updates or estate motivated sales (kids sell as fast as parent moves/dies). (Many have not been updated & over 25 years old).