Home Selling in 33709>Question Details

jonasm2013, Home Buyer in Tifton, GA

How Can I Get Someone To Find A Buyer For My Home In St Pete, Fl That Doesn't Expect Everything To Be ALL NEW--I already dumped $22,000 In?

Asked by jonasm2013, Tifton, GA Sun May 27, 2012

Improvement 3 "Lic Realtors" were TOO PICKY--they didn't see why I couldn't just throw away $100,000 more into the $60k house I pd for, that the little appraiser came out and gave an appraisel of $33,000 after the $22,000 dumped into the place already!
Is there ANY REALTOR in Pinellas County that will sell "AS IS"? BTW...the big name realtor co. that sold me the place WITH DAMAGED FLOORS covered in tape, yet they expect me to DUMP another $100,000 for perfection??? (Why weren't the floors PERFECT since you are a company demanding perfection??? --HMM?) jonasm2013@live.com

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6
Hello Jonas,
The distress of your situation can clearly be heard in the words you write.
Unfortunately your situation is not uncommon.

Many, 'want to sell' homeowners, have invested significant amounts in their home and made improvements so they could enjoy their time there better. Very rarely do these invests get reflected in the price a home can be sold for today. What determines the price at which you home will sell is what a buyer is willing to pay. What they will pay for your home depends on:
1. their purchase objectives (wholesale, flip, rent, long term hold, residence)
2. what purchase options they have (is their a better fit for their objectives down the street)
3. is the home perceived to be in the right value bracket. (wrong brackets results in absolute silence)
4. after repair value

Of course there are other factors. Real estate professionals work with buyer everyday. Real estate professionals are in home for sale ...everyday. We actually have an idea regarding what folks will buy, what they will buy and at what price.

The pros with which you are speaking are advising you what must be done to sell at the price you want. You do have another choice.

Be aware, real estate professionals do not sell homes. Home owners do! We, however can provide guidance in the many aspects of a home sale. Often the home owner ignores the advise. Other see the value and do all they can to make their home sellable. At this time your choices include proper pricing reflective of the condition. Homes that win the beauty contest sell faster and for more money. The other homes take a beating. It's not rocket science.

Do you want frank, honest, too the point, no nonsense direction (similar to the above) call a local real estate pro like myself and together create the strategy to get you home SOLD. 'As Is' is the qualifier is use for both high end and investor grade homes. However, 'As Is' is not remedy for a home that is overpriced.

There are over 20 ways to sell a home and 15 ways to finance a purchase. None of which is relevant if the price is not reflective of the value. To choose to defy what the data shows indicates other issues are in play. I trust you are able to work it out.
2 votes Thank Flag Link Sun May 27, 2012
The problem is; most lower-end buyers have very little money left over after the buy a house;
money that may be needed to fix it up. So they are looking for a turn-key.

When you've got a lower-end house that looks pretty good, investors aren't interested, because they want to steal the property and fix it up themselves.

So, your typical buyer, will be a young person or couple, who want to put in some sweat-equity to make the place nice. This is your target!

I'm sure that you can meet a good Realtor, on this site, who will appreciate your situation and can help you. Have him do a CMA, (Comparative Market Analysis) to help you determine the Value.

Good luck and may God bless
2 votes Thank Flag Link Sun May 27, 2012
Jonas,

If you haven't read Annette's answer, scroll down and read it. If you have, scroll down and read it again! Your frustration and that of many others too, who bought high and now their homes appraise much lower is understandable-but it doesn't change the facts or the current market. Annette covered all the points and your options. I could not have said it better. If you are getting the same information from multiple agents, it might be time to step back, try to put your emotions on the shelf and listen.

Sincerely,

Pam Cohn
Broker Associate, GRI, SFR, NHS
Real Estate Consulting, Marketing & Sales
Prudential Tropical Realty
2539 Countryside Blvd #3 Clearwater, FL 33761
pcohn@prutropical.com
727-204-7155
http://www.FromCavesToCastles.com
VIEW PROPERTIES ON YOUR SMART PHONE
TEXT "PAMELA" TO 727-213-5142
1 vote Thank Flag Link Mon May 28, 2012
You can get a very good idea of the real price of your property...

Go to the Pinellas Property Appraisal website select your property records there you will see the sold properties near your home...

Select the closest properties in distance that are in a 20% range in Sq. ft.... now you must be sure that the 3 selected properties are between a price bracket of 20% between each other, in similar conditions.

This will give you a closed estimate of the real price...

I have done over 1200 BPOs (Broker Price Opinions) for most of the major Asset Companies/investors and lender in the past 18 months...

If I can help you in any way please let me know... 727-432-2181

Maggie Caceres
Real Estate Broker
0 votes Thank Flag Link Fri Jun 22, 2012
Oh and the "little appraiser" that gave a value of $33k, did you select that appraiser? Reason I ask is some appraisers that work closely with Realtors may give a lower than market value to ensure a quick and easy sale. Unethical but I have seen it happen, sad to say...

Post the address here and you may get some "free" advice on what other Realtors estimate to be your value.
0 votes Thank Flag Link Mon May 28, 2012
Hi,

You can sell to two types of buyers. "Retail" or "Wholesale".

"Wholesale" buyers will be able to see past the "ugly" but you will have to price your property at a "bargain" to attract these sharks.

If you want to sell for a much higher "retail" price then you must make it look "pretty". In the $33k price range you shouldn't have to do too much. Not sure what cost you $20k to improve a $60k property but you can't go back in time and change that so you have to move forward and try to sell NOW for the highest possible price. So if the property is filthy dirty either go and clean it or hire someone to do that. If the paint has graffiti or scribbles on the walls, go and repaint it or hire someone to do that. Clean the rugs... tidy the yard. If the A/C isn't working or the roof will not pass a roof inspection for insurance, then you can suggest the buyer get an FHA 203K mortgage to include those repairs in their mortgage.

Back when you bought, EVERYONE was buying ANYTHING so a buyer couldn't be picky like they can be today with the many, many competing bargain properties. Pretty much a seller just had to stick a sign in the ground and for $60k it would be equivalent to getting the same property for $30k today.

After 3 Realtors told you the same thing, they probably are correct.

So it's your decision, sell "wholesale" or put in a little effort (and money) and sell "retail". In the $30k price range you may want to offer a "bonus" to a Buyer's Realtor.

All the best,
Alma Kee
http://www.SoldOnTampa.com
0 votes Thank Flag Link Mon May 28, 2012
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