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[Just Bling]

Put the family's home on the market and found out that people want everything updated.  Years ago, people were willing to buy,move in and then change but not anymore.

I believe it's because of all the shows on TV that have changed the way new home buyers view their first home.

So I did a lot myself as far as painting and basic changes but the major part, kitchen and bathrooms were done by professionals.  So in theory I should be able to get more but it doesn't work that way and I'll probably be "eating" these updates but the good thing is that it should sell fast.  Wish me Luck!

p.s.  I put a white kitchen in.

[libbyannE]

You're right to do the updates. The thing is, the house might not sell at all without them. And the other thing is that potential buyers tend to take more off of the price than the updates may actually cost you. As long as you kept things neutral--like the white kitchen!--you should be ok. Fingers crossed for you.

[sassenach1]

I wish you all the best.

Our home selling experience has been very depressing.  Ours is an upper scale home with high end finishes, 3K plus square feet.  Great school district.  Builder finished beautifully and we recently got rid of even more carpet for hardwoods and in the basement, solid surface flooring.  This house is staged well, too.  Walking in, it is a wow.

NO ONE wants our house.  We've had four actual showings and several open houses in two months.  We've now lowered the price to what we paid for it 12 years ago.  

We do have a good realtor, confirmed by many valid sources.

It is our price range. Anything lower than $250K is selling quickly.  We are well above that's.  We also are all siding in a neighborhood of brick fronts.  Can't do anything about that as we are back to the price we paid for this house. 

We are very disappointed.

[KingstonsMom]

You're right about buyers now expecting everything to be brand new when buying a home.

The house next door to us is (was) on the market and the elderly owner priced it to sell 'as is' as far as updating appliances. The flooring, etc. is in pristine condition, but the kitchen appliances were outdated, although they're in fine working order.

She got 2 contracts for the listing price, with each wanting appliance updates, which she refused, and then she got a 3rd contract for $5,000 over the listing price, with no concessions other than a year of Home Warranty for $500.

They close in less than 2 weeks.

With your renovations and updating, you should have no problem selling! Good luck!

[sandraskates]

@sassenach1 I know that not all markets are selling quickly in parts of the country. I suggest asking your realtor to get some feedback on what is turning off the buyers. In my NoCal area properties are getting snapped up almost in minutes. EXCEPT for the million dollar properties that are completely car dependent such as those in the hills. I know someone who has been trying to sell a beautiful $3 million property for the past 2 years.

@Just Bling Good luck on your mini-flip and let us know how it goes.

[NicksmomESQ]

I disagree with having to remodel a home in order to sell it!I know several people who just painted and cleaned the carpets..The homes sold for within 12k of market price.In other words they basically fetched the same amount of money as the ones that were remodeled.It cost a lot more than 12k to remodel!!

My next door neighbor just moved in and he put over $75k into the house.He paid just $10,500 below the going price.

I would not waste my time or $$ remodeling!!

[sassenach1]

@sandraskates Thank you.  Yes, the market is similar here in the less than $250K price range.  House goes on the market and it quickly gets multiple offers.  

We we are in constant contact with our realtor.  Feedback has been minimal as there have been few showings. The realtor lunch when we first listed had a couple of small negatives. We took care of them all.  Because we are not even getting showings, we think it may be two possible uncontrollables:  we are non-brick in a neighborhood of mostly brick fronts and our large yard is mostly on the side.  Our yard, however, is well-landscaped and beautiful.

Really getting us down.

[151949]

You just need the right realtor. Our house did not have the current things like hardwood and granite etc but our realtor started out with an agents open house and we really put on the dog for that - served a breasfast of finger foods and coffee/tea & juice. We were there and talked about & answered questions about the house and neighborhood. After that they were showing our house 3 to4 times a day every day and it sold in 9 days for exactly the amount the realtor had told us we would get for it. When the prospective buyers would say they were looking for granite not formica or hardwood not carpet - our realtor would tell them they aren't going to get those things in this price range and he would point out the new roof we had put on 3 years before and the new heat pump 5 years before, and the newer high end appliances. Also that the entire house was newly painted all ivory so they would not have to paint right away.

[NicksmomESQ]

The homes I am speaking of are all in upper middle class neighborhoods and are priced at over $250,00!! I guess your success in selling has to do with neighborhood and location!

I just learned that another one of my neighbors just sold his house too.He has 2 little kids & 2 dogs.All he did was paint and sold his house in a couple of weeks on his own without an agent!! He just told me than the people buying it are going to totally redo it. He said that he sold it for $9,000 below market!

[LonestarBabs]

@sassenach1  You say your house is mostly siding in a neighborhood of houses with brick fronts. That may/may not be a problem, but could there be a compromise to give the appearance of stone or brick somehow? Is your mailbox on the street -- if so, could it be surrounded by brick? Could you buy some Veneerstone at Home Depot and do some stone accents to the outside of your house somewhere to create a blend? Not expensive projects. Could you build a few brick planter boxes out front for curb appeal?

When is the contract up with your listing agent? You might want to consult with other realtors for a second opinion if you're close to the contract's expiration. You need a new realtor.