Mary D-B, Home Owner in Dripping Springs, TX

Do we update or just offer at low price? Which will help sell fastest?

Asked by Mary D-B, Dripping Springs, TX Sat Dec 1, 2012

nicely maintained 1990 yr home 3300 sq ft on 5 acres w/ inground pool and landscaping, irrigation; updated baths and stainless kitchen but ceramic tile floors and carpet with wood stained trim and stained doors; great location and schools BUT similar homes are not moving for many months. When we sell in May we'd like to sell quickly to establish residency in other state by Aug. We were wondering if putting in hardwoods and some kitchen cabinet updates and changing quartz to granite would move the house or if in this area homes on acreage just don't sell no matter the update status. We don't want to sink 20k if it won't help sell it quickly. If we offer low and are out by July people can do their own updates and taste but so often hear they want move in ready. We will be staging professionally.

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Mary D-B’s answer
an update, not an answer:
Sold in 10 days! We made it move in ready with a little room for new owner's to make simple changes if they desire. We had the money to put into it and what concerned us was selling it quickly more than return on investment, especially since we could not put it on the market at peak due to unforseen illness of my mother.
One of the buyers is a real estate agent so I think they can see beyond wainscotting and have vision. We removed wainscotting in one bedroom and it turned out to be a simple inexpensive thing. We repainted the overly wood master bath to soften it.
Nothing like a great agent, quality professional staging and hard work. We meticulously maintained our home over the years with the oldest item being a 2007 water heater and A/C system. The adage about keeping it up as you go paid off. Fresh paint everywhere within the last 3 years and repainted some rooms to be more neutral. Meticulous means landscaping as well.You can't take out cedar and landscape in a year. Landscaping is an ongoing thing if you want it mature enough for the new homeowner's to not have to mess with keeping it established. I left the quartz countertops which are the #1 recommended surface for a cook and family (heat, stains, scratch resistant). We did freshen up all woodwork and most paint with an honest to goodness real painter, not just a crew of people that ended up being painters but actual trained painters. They are rare and expensive but oh the sigh of relief to use professionals. We put in high quality carpet and pad. We spent $800 on cleaning tile. I guess we put in about 10K cash into it to prep. Everything looked fantastic. If you are listing your home for over 500K you want commensurate quality in your updates and materials. What came back for repair after inspection turned out to NOT be actual problems but having them looked at does make for peace of mind. I left our home just as I would want a home to be - meticulously clean and maintained, even while empty. And I kept records of every single thing ever done for 18 years: every receipt; every manual; every project. I hope the new family will enjoy the property and community as much as we did all those years.
I think what sold this was the location and the super condition. I just can't imagine anyone having to put money into this. They can use their money for decorating their new home.
Now on to the gardening and remodel of our CA home. Another adventure.
0 votes Thank Flag Link Sun Aug 18, 2013
BEST ANSWER
Hello Mary,

The previous responses offer good advice. I live in Saddletree Ranch in Dripping Springs. The right home on five acres in Dripping Springs will sell quickly. I know of one example, in particular, that sold in a week.

Your perspective is spot on with respect to the fact that homes that are not updated will sell at a significantly lower price than updated homes. Most buyers want the updated home that is move-in ready. Those who are willing to make updates required want an additional discount to take on the inconvenience involved.

Based on the description of your home, I advise you to contact a realtor to get their opinion as to which updates will add value, if updates are indeed recommended to sell your home. For example, hardwood floors may truly add value and appeal, resulting in a faster sale at a better price for you. Quartz countertops, on the other hand, are preferred over granite by many buyers, currently. That update may not be recommended. There may be other cosmetic, inexpensive updates that will be recommended.

I would appreciate the opportunity to view your home and discuss the "make ready" process with you at no cost or obligation to you if you have not already chosen a Realtor to list your home. Please call me at your earliest convenience if you wish to take advantage of my offer.

Best of luck,

Tom

Thomas J. Cantalini
Broker Associate, REALTOR(R) GRI, CNE, SFR, MBA
Century 21 HSK and Associates Austin
9020-1 N. Capital of Texas Hwy., Suite 210
Austin, Texas 78759
512-797-9167 (cell)
512-264-3446 (home)
tom.cantalini@gmail.com
thomas.cantalini@century21.com
0 votes Thank Flag Link Sat Dec 1, 2012
Hello Mary

I believe you are in a very desirable subdivision,and with the upgrades you have all ready done it sounds like your on the right path. I think good photography and staging you shouldnt have a problem. Also look at the comps that sold in the area to give you an idea what the market is like in your neighborhood when pricing, many people look at active listings, look at the sold for a better idea.

John Riddle
Team Price Real Estate
John@teamprice.com
512-777-9681
0 votes Thank Flag Link Wed Mar 27, 2013
Oh my so many questions wrapped up in one... ok do not change quartz to granite...
The acreage could be a plus for some buyers and a minus to others that do not want the expense
to take care of it, so it just depends who the interested buyer will be.

What you do need to do though in order to sell, and I am talking about selling as in finding a buyer who wants your home, which may have nothing to do with the price, they just have to like your home.
Therefore clean, inviting, nice soft music at showings, some apple pie in the oven, and probably moving around or moving out some furniture or have the home staged (could be expensive so find
a not so expensive solution!) and PAINT
I strongly believe in clean floors and paint, clean walls, you may think about your window treatments
if they are outdated, remove them, if not all the walls need painting use some really en vogue colors
and paint just a hallway, one wall in the living room and one wall in the dining room in an inviting
draw attention to that wall color, like nice warm burgundy red in the dining room, a nice chocolate
or cappuccino brown in the living room or do two walls.... You will not believe what a different
color can make. Also if window treatments are outdated, remove them and install pretty shutters or blinds. A good Realtor can be of great help without spending a fortune. Hardwood flooring although
preferred may be too costly, make sure the existing flooring though is clean, or replace...

I hope this all helps you, and good luck to you

Most Sincerely yours,

Edith YourRealtor4Life
Working always in the very BEST interest of her clients
EdithSellsHomes@gmail.com
http://tinyurl.com/YourRealtor4Life
@Properties Relocation and worldwide Services
FRENCH, GERMAN, SPANISH +
Free Market Evaluations & daily new listings for Buyers/Investors
0 votes Thank Flag Link Sat Dec 1, 2012
How to Improve the Odds of an Offer on Your Home

1.Price it right. Set a price at the lower end of your property’s realistic price range.

2.Prepare for visitors. Get your house market ready at least two weeks before you begin showing it.

3.Be flexible about showings. It’s often disruptive to have a house ready to show at the spur of the moment. But the more amenable you can be about letting people see your home, the sooner you’ll find a buyer.

4.Anticipate the offers. Decide in advance what price and terms you’ll find acceptable.

5.Don’t refuse to drop the price. If your home has been on the market for more than 30 days without an offer, you should be prepared to at least consider lowering your asking price.

Fred Yancy, Broker
Crye-Leike Realtors
(678) 799-4663
0 votes Thank Flag Link Sat Dec 1, 2012
Actually we were thinking of putting in on the market for under market price and not updating but thought that people always want a move in ready house and can't envision what they could make the house look like with all the money not in the purchase price. Always depends on the buyer I guess but unsure of why our type homes aaer not selling since we are in exceptional school district in hot market (Austin area).
Flag Sat Dec 1, 2012
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