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Walkies tonight. Saw a home for sale, four blocks west (3637 Dupont). Nice, nothing special. Figured it's about the same size as the Big Broken Box™. Picked up a brochure.

Rough guess, I figured $250-275k.

Nope.

$374,900.

3BR, 1860 finished sq. ft., 2 car detached garage. 1-1/4 bath.

Other nearby properties:

3717, 2BR 1BA, 1571 fin. sq. ft., 1 car garage; sold for $341,130.
3749, 3BR 2BA, 1524 fin. sq. ft., 1 car garage; sold for $360,000.
3613, 3BR 2BA, 1827 fin. sq. ft., 2 car garage; sold for $434,900.

Okay. I have four bedrooms, 1-1/2 bath, around 1600 finished sq. ft. no garage (yet). Four blocks away.

You see why I want to fix this beast up nice and sell it?

Comments

( 8 comments — Leave a comment )
ignusfaatus
Feb. 9th, 2006 02:46 am (UTC)
im not surprised. got inspiration now? dont work too hard on that house. By the time people buy a home they have been watching tlc channel all winter. they LOVE unfinished projects!!!
ignusfaatus
Feb. 9th, 2006 03:52 am (UTC)
new paint and shower curtains. its the smell that sells. really
molasses
Feb. 9th, 2006 03:01 am (UTC)
yes!
good one.
not surprised.

love from vancouver, where houses under half a million dollars are rare.
inked2x
Feb. 9th, 2006 03:08 am (UTC)
You know if it were me ... which it is not ... I would only do basic repair work ... I would get most of my stuff out ... maybe re-do some of the woodwork ... slap on some nice neutral paint and stick a "For Sale" sign in the yard .... but that is just me ...
bohemianrapsody
Feb. 9th, 2006 04:45 am (UTC)
Madness, I tell you. These prices are insane. I've finally learned to stop cringing at these tiny starter homes that cost over $200,000. As a prospective first-time home buyer-the market SUCKS. The only salvation is still fairly low interest rates.
Are there major repairs to be done to your house? Most people don't mind fixing places up if it's simple repairs and cosmetic issues...I say collect your money.
(Or sell it to me cheap and I'll be your best friend ; )
magicmarmot
Feb. 9th, 2006 04:50 am (UTC)
Yeah, there are some pretty major repairs yet to do. Like the front porch.

Cor, even as is I could probably get $200k. It's considerably beyond a starter home. With the front porch and the street-side cosmetics, probably $250k.

Hell, I dunno.
windelina
Feb. 9th, 2006 05:26 pm (UTC)
You know what? You should talk casually to a realtor about where the line is between "fixing up to sell for decent price" and "leave that bit unfinished because the new owners will just want to redo it themselves" and of course the "you'll just be wasting money to do that project" factor.

realsarah is quite knowledgeable on these things.
magicmarmot
Feb. 9th, 2006 05:41 pm (UTC)
I already have talked to a few realtors. Standards are curb appeal, bathrooms and kitchens. Porches and decks come in a close second. Garages are a toss-up, though weighted more heavily toward the positive, but not so much a ROI.

General cleaning, painting, and sprucing go a long way as well. And there are companies that will "set dress" your house to make it more enticing to a prospective buyer.

Front porch is already a given, as are repairs to the existing holes-that-were-cut to fix the other stuff.
( 8 comments — Leave a comment )

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