Is there a thread for people selling their house?

[Mickeyluver37]

Well you know, we just need more stress.

I have had to actually sit there and meditate to calm myself. It does help.

I don't think our house offer or counter for that matter is going to work. Oh well....in the apartment we sit until.....

Can you tell us, from a buyer's perspective, just how low off the asking price you expect the sellers to go? I'm not familiar with the term spec house, is that the same thing as a model home? So it's the builder you are dealing with?

 

[The Mystery Machine]

Can you tell us, from a buyer's perspective, just how low off the asking price you expect the sellers to go? I'm not familiar with the term spec house, is that the same thing as a model home? So it's the builder you are dealing with?

Yes, it is a model home.

It has been sitting for months and it is not the golden deal they try to pretend it is, which is why it is sitting.
The builder is trying to dump it way too high.

 

[luvflorida]

I don't think our house offer or counter for that matter is going to work. Oh well....in the apartment we sit until.....

I know the feeling. We had a second showing last week and nothing came of it. I always try not to get my hopes up, but it's hard not to.

We are in a rental home until we sell our house. It's a very nice house, but way too small. The rental community that we're in provides garages for an extra fee and we had to rent one just to store all of the stuff that won't fit in the house. Forget using the garage for a car. And, I just don't feel comfortable hanging anything on the walls of the house. I'm afraid of damaging something.

I'm hoping our house sells soon so that we can move forward with plans to buy or build a new house.

 

[mickeyfan1]

I know the feeling. We had a second showing last week and nothing came of it. I always try not to get my hopes up, but it's hard not to.

We are in a rental home until we sell our house. It's a very nice house, but way too small. The rental community that we're in provides garages for an extra fee and we had to rent one just to store all of the stuff that won't fit in the house. Forget using the garage for a car. And, I just don't feel comfortable hanging anything on the walls of the house. I'm afraid of damaging something.

I'm hoping our house sells soon so that we can move forward with plans to buy or build a new house.

Whooee, I hear ya on the lack of storage. We leased with an option to buy the house we are in and today I got the paperwork moving for the mortgage. My biggest concern is that the appraisal will come back a lot lower than what we agreed to buy at. If tat happens, I hope the owner will decide that a sale is better than a vacant house, although we will still be here until the lease is up. He owns a twin to this one around the corner and the people already moved out, so he has that to contend with. Values and prices are still dropping. And we have room in the garage for my Edge only, the rest if filled with boxes. We are not putting anything on the walls either. It feels so temporary. I don't like it, but I am not taking any chances on having to fix stuff if we don't get a deal worked out.

Keep the spirits up everyone, the buyers will come.

 

[Chris2597]

We had a showing this afternoon right in the middle of my first day of school. My ds is living at the house and of course I couldnt get in touch with so I slipped out and got the house before the appt and roused him out of bed and out of the house, quickly tidied up and went back to school. We got a review saying they liked the house but not the carpet wallpaper in the kitchen and baths, and appliances...that they are trying to decide if they want a fixer upper or a new home. I dont consider my moms house a fixer upper as most of the above mentioned items are in perfect shape. The bedroom carpets is old and does need to be replaced but the rest of the house has fairly new berber but it got pretty grimey rolling my moms chairs and walkers on it, not to mentio all the helpers, friends and family that were constantly going in and out.
The Realtor emailed tonight and said he followed up on the tour and comments and was told that they liked the house and it was on their short list...I am sure we would get a low ball offer but it might be a start.

 

[Chris2597]

I havent seen this thread for a few days....Maybe everyone has sold their homes....We wish!! We have had a couple more "looker's" in the last week, but no offers. The realtor held an open house on Sunday and had 4 couples come through, one couple showing interest but saying that they had to sell their house first. I got a call yesterday at 8 am setting up a showing for the evening, then at 630 got a call that it was cancelled and would reschedule for the morning, then another call saying that they wanted to reschedule for 7pm....OK..... what's the deal?? Anyway, they toured the house and left a comment this morning that they liked the house, lots of sq. footage for the price but they went with another home that required less updating.
I don't know what to do at this time..... Do we update and have to raise or stick to our price or do we state in the listing that update allowances will be offered? The Realtor said he doesnt like to state such things in the listing, but it appears we are loosing potential buyers because of the update issues.

 

[The Mystery Machine]

Anyway, they toured the house and left a comment this morning that they liked the house, lots of sq. footage for the price but they went with another home that required less updating.
I don't know what to do at this time..... Do we update and have to raise or stick to our price or do we state in the listing that update allowances will be offered? The Realtor said he doesnt like to state such things in the listing, but it appears we are loosing potential buyers because of the update issues.

As a home buyer I am going to pass over your house too. Sorry.....

I can tell you that DH and I sought out with the 1 thing rule. Meaning that we would "forgive" 1 thing, like flooring, appliances, fence, etc...Not a roof though, that is a deal breaker.

If you plan on raising your price because you put in a flooring, don't bother. Flooring is something that should be in good condition already at selling time. There is no return on the "updating" you need. It sells the house.

In fact we are going to buy a model for more than we want because homes in this area need too much updating. We are looking for a short term house (7yrs) and will lose $$$$$ on a house that requires too much updating.

Buyers are cautious right now. I know, I am one. The market really is awful and if you can wait until spring, you might do better.
If you can lower your price, do it. Then it will sell.

However you did mention the house needs flooring right? That is a biggie. I put in floors and they cost a mint to update in a large square foot house.

What else are your issues that need to be addressed house-wise?

 

[mickeyfan1]

It will depend on the updates. If it's carpeting, put 2K in as a carpet allowance. If it's hard surface, you may have to bite the bullet and replace hardwoods, add a larger allowance, or drop your price. If it's appliances, again, add a 2K allowance into the listing. Your realtor works FOR you. If you want to add words to the listing that will help show and sell, he should be doing it.

Same people are gong to complain no matter what. Yes, the market sucks, but I don't think that gives buyers the right to demand sellers go upside down for them. Some buyers are being urged to insist on all kinds of concessions and sadly, because people hear so much doom and gloom, sellers who go for it end up hurting not just themselves bit the whole market as well. If everyone sells their home at 100K under market value, then market value is now 1000K less than it used to be. Sadly, tax values are not going along with market values. Home prices in NH have dropped a lot, but towns are continuing to claim values are going up, thus taxes have increased.

I currently have an agreement to buy the house I am leasing. However, I don't think we will get an appraisal anywhere near the agreed to price. If my seller will not come down, there are many more homes in the same price range that are larger and have more to offer. I hate to move 2 times in a year, but if I have to, I will. At least I don't have to worry about selling this one!

Good luck Chris.

 

[Chris2597]

The house is totally solid... no roofing or structural problems. The cabinets in the kitchen and bathrooms are in great shape but are 35+ yrs old, the carpet in the secondary bedrooms needs updating very badly, carpeting in the formal/dining rooms, family, master bedroom have all been updated with a high end berber. However, my mom chose a patterned berber (I dont care for it). It had soiled paths from her wheelchair/walker , but shampooing took care of that. The carpet wears like iron and will still be in good shape 10yrs from now but I dont think it appeals to the majority of people. The large entry has nice tile, the eat in kitchen has wood laminate flooring. The closet doors and bedroom doors are dark wood stain, some of the mini blinds need replacing. The house is priced well for the area. The appliances are all less than 5 yrs old, but are white.

My question is....should we paint the cabinets, bedroom door/closets white, replace the bedroom carpets? There are a couple other things I have been trying to get dh to fix. A couple of the closet doors need new rollers and the hallway bathroom shower control keeps falling off (the knob). He says the shower is an easy fix....The closet rollers sound like a simple issue but we can't find replacemnt parts anywhere. Dh says that the house would have sold overnight a couple of yrs ago and that he is confident that we will sell it if we sit tight. I am more proactive and want to make it more buyer friendly.

 

[The Mystery Machine]

In our area, there are no 100,000 losses mickeyfan1 (this is middle class MO )and we are having the same issue, homes are not going to appraise out.

I feel for the people but I cannot take on someone's loss. In some cases people want over the amount and did no work to it. Some refied due to job loss and took the cash.

One house that was pretty cool can get no DSL or cable. That was a deal breaker for us because we could afford the satellite payment each month for TV and computers.
Nice house, sad story but we have to look at our bottom line.
Plus it was sitting for a year and half.

I am hoping the housing crunch ends for all. As a buyer it is no picnic either.

 

[KirstenB]

The house is totally solid... no roofing or structural problems. The cabinets in the kitchen and bathrooms are in great shape but are 35+ yrs old, the carpet in the secondary bedrooms needs updating very badly, carpeting in the formal/dining rooms, family, master bedroom have all been updated with a high end berber. However, my mom chose a patterned berber (I dont care for it). It had soiled paths from her wheelchair/walker , but shampooing took care of that. The carpet wears like iron and will still be in good shape 10yrs from now but I dont think it appeals to the majority of people. The large entry has nice tile, the eat in kitchen has wood laminate flooring. The closet doors and bedroom doors are dark wood stain, some of the mini blinds need replacing. The house is priced well for the area. The appliances are all less than 5 yrs old, but are white.

My question is....should we paint the cabinets, bedroom door/closets white, replace the bedroom carpets? There are a couple other things I have been trying to get dh to fix. A couple of the closet doors need new rollers and the hallway bathroom shower control keeps falling off (the knob). He says the shower is an easy fix....The closet rollers sound like a simple issue but we can't find replacemnt parts anywhere. Dh says that the house would have sold overnight a couple of yrs ago and that he is confident that we will sell it if we sit tight. I am more proactive and want to make it more buyer friendly.

I think you should replace the bedroom carpeting. That shouldn't be too expensive. On the kitchen...I'm not usually a fan of painted cabinets. However, if the house were priced with the thought in mind the new owners would do a total kitchen renovation, then as a buyer, that wouldn't turn me off. For the right house, I'd be willing to tear out the kitchen and update it myself. I have a very good friend who just bought a 50 year old house with this exact thought in mind.

 

[The Mystery Machine]

#1 Fix that bedroom carpet or give a carpet allowance. Most certainly do this.

As far as painting wood.....hmmm.

Kitchen cabinets. 35yrs old is pretty old. Is it good solid wood that you can restain type of of wood?
Not suggesting you restain, however painting over good wood is not a great idea.

Painted kitchen cabinets are not my thing either. But if the cabinets are awful, maybe you should. Hard to say without a pic.

Do not paint solid wood doors white. That is so 90's and will make it look even more outdated. Or it will accent the fact the house is old. It won't match is what I am trying to say.
Staining them yes, painting them, no.

 

[Chris2597]

Thank you for the suggestions. The cabinets are about as in near perfect condition as 35+ yr old cabinets can be. The kitchen is by no means awful. I can't believe I forgot to mention the wallpaper, which is outdated but in perfect shape. A friend told me to Kilz it and paint a warm beige. I have never painted wallpaper but she swears it will be fine.
I also want the realtor to take new pics of the house for the web as we have done a lot of imrovements and cleaning out the old furniture between now and when the pics were taken.

 

[The Mystery Machine]

Thank you for the suggestions. The cabinets are about as in near perfect condition as 35+ yr old cabinets can be. The kitchen is by no means awful. I can't believe I forgot to mention the wallpaper, which is outdated but in perfect shape. A friend told me to Kilz it and paint a warm beige. I have never painted wallpaper but she swears it will be fine.
I also want the realtor to take new pics of the house for the web as we have done a lot of imrovements and cleaning out the old furniture between now and when the pics were taken.

Are the cabinets a thick solid wood or are they pressed wood?

 

[Camicar]

I can't believe I forgot to mention the wallpaper, which is outdated but in perfect shape. A friend told me to Kilz it and paint a warm beige. I have never painted wallpaper but she swears it will be fine.

Ummm...No. That would not be fine. Take the paper down and paint.

 

[mickeyfan1]

If you go the wall aper removal route, be prepared for more than one layer and possible paint in between. And not to be an alarmist, but if there is old paint, please make sure you get it tested for lead. If it is lead free, good. If not, you may have a HUGE expense on your hands, either you mitigate it or the sellers will ask for a deep discount. A home inspector should check for that. With the age of the home, it may pay you to get the inspection done yourself to see just what may be lurking.

 

[Chris2597]

If you go the wall aper removal route, be prepared for more than one layer and possible paint in between. And not to be an alarmist, but if there is old paint, please make sure you get it tested for lead. If it is lead free, good. If not, you may have a HUGE expense on your hands, either you mitigate it or the sellers will ask for a deep discount. A home inspector should check for that. With the age of the home, it may pay you to get the inspection done yourself to see just what may be lurking.

I am not concerned about finding additional layers of paint and/or wallpaper in the house. The wallpaper is original to the house.....the walls might be painted or primed underneath the paper but that is it. I grew up in the house.

The cabinets are solid wood, not pressed fiber board.

I am planning on making a list of small items that still need to be fixed, like the closet doors and the shower faucet. I might install some neutral berber carpet in the bedrooms for now. I think I am going to re-visit putting something in the listing agreement for buyers to see that says....2000 carpet or closing allowance.

 

[barkley]

In our area, there are no 100,000 losses mickeyfan1 (this is middle class MO )and we are having the same issue, homes are not going to appraise out.

I feel for the people but I cannot take on someone's loss. In some cases people want over the amount and did no work to it. Some refied due to job loss and took the cash.

One house that was pretty cool can get no DSL or cable. That was a deal breaker for us because we could afford the satellite payment each month for TV and computers.
Nice house, sad story but we have to look at our bottom line.
Plus it was sitting for a year and half.

I am hoping the housing crunch ends for all. As a buyer it is no picnic either.

i was just purusing the mls for my old neighborhood-the values have gone down (as based on the comp sales and what homes are listed for currently)-41% we're not talking $100,000 less-we're talking upwards of $275,000 less i think about how long it took for people to build up that kind of equity, and how long ago you could even find a home in that development for that kind of price (highly sought after with upper middle income types). i cannot fathom how long it will take the bulk of the homeowners to get even leveled out value to loan wise

 

[The Mystery Machine]

The cabinets are solid wood, not pressed fiber board.

Don't paint them then. Someone could restain them.

 

[SC Minnie]

The cabinets are solid wood, not pressed fiber board.

At the very least I would wash them down to make sure years of kitchen 'stuff' is cleaned off and update the hardware.

I agree with others that the dated wallpaper would have to go. We have passed on houses that had wallpaper because I didn't want to have to deal with taking it down.