Home Selling in Yorkshire>Question Details

tabjordan33, Home Seller in Charlotte, NC

I am preparing my home for the market and would like to know what buyers are looking for in this area. Yorkshire, 28273

Asked by tabjordan33, Charlotte, NC Fri Jan 6, 2012

hardwoods vs. carpet on main level?
type of countertops?
what update will I see the most interest in and get the best ROI?

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Answers

16
Tab....

Buyers love hardwood and tile over carpet except for possibly in the bedroom areas. They like the flexibility provided with tile and wood when it comes to using area rugs and other decorative elements. Hard surface granite or marble counter tops are still the popular choice. These trends remain constant on the entire east coast.

As you consider you options for updates, there is a wonderful website you may find helpful. It provides an analysis of warious typical projects with regards to cost vs value from a regional perspective.

Consider viewing the following:

http://www.remodeling.hw.net/2009/costvsvalue/national.aspx


Best wishes,

Bill
3 votes Thank Flag Link Fri Jan 6, 2012
Tab, they're looking for Martha Stewart's house! I know its a little snarky but it's true in this market - buyers want everything.

My husband and I have come up with kind cool way to set homes apart...when we list we do all the logistical stuff, virtual tours, lots of pictures, posting to a gazillion online portals...all of that and then we.....tada

Share the HomeStory - we literally ask our sellers to write in their own handwriting what they love about their home and the reason they are selling. The #1 question a buyer has especially when they find a house they love is...Why are they selling?

We've had great success with our Home Stories - here are two you can check out on our site South of SouthPark (excuse my hubby Mike the blogger sometimes he's not as witty as he thinks!)
http://www.southofsouthpark.com/what-you-walkin-about-willis…

Lots of good people and good answers here Good Luck whatever you decide!
Mike & Rhonda Gibbons 704.651.6551
1 vote Thank Flag Link Wed Jan 25, 2012
Looks like you've received some great answers to your question already, but just to add my two cents.... Be careful not to spend too much money on upgrading, as you generally will not get your money back. If your carpet or countertops are in terrible condition, you may need to change those out more as a maintenance item vs an upgrade. Given the market, you will need to be priced very competitively and show well in comparison to your competition. We keep our commission to a minimum to give you maximum "wiggle room" while we provide excellent exposure and support, so please call if we can be of assistance.

- Don
Owner / Broker
Don Anthony Realty
http://www.DonAnthonyRealty.com
704-644-1467
1 vote Thank Flag Link Fri Jan 6, 2012
Hey!
Buyers are looking for anything priced right. If you didnt make any updates and priced properly, it would sell. But to answer your question on ROI, I would recommend just preparing the home to look move-in ready. People want the upgrades without having to do the work.

Fresh paint is always good - neutral colors, light tones.
Make sure carpets are clean - flooring is one of the items that people talk about changing as soon as they get in the home anyhow, so this is least important, unless yours is in awful shape now.
Kitchen and bathroom countertops - get nice stone like granite, but if you can't afford it but want something equally appealing to the eye, opt for quartz - a cheaper, but just as pretty alternative.
Make sure cabinets are in decent shape as well in kitchen and bathrooms.

For a free consultation, let me know and I'd be glad to come out and take a look!

John
704-458-1843
http://www.johnsiddons.com
http://www.searchcharlotte.com
1 vote Thank Flag Link Fri Jan 6, 2012
Hi Tabjordan33

Buyers want the most for their money. When working with buyers I have them make a list of everything they want in a home and then divide it into three sections "want", "Need" and "must have".

On almost every list we find:

Hardwoods
Granite Countertops
updated kitchen appliances
No gold fixtures
tile in bathrooms

When updating the most bang for your buck will be in the kitchen and bathrooms. If carpets are worn they must go. A fresh coat of paint throughout the home and outside is going to be your best ROI. Don't forget the front door! Paint or replace if needed. Invest a little in the landscaping .. curb appeal will either make them want to come in or drive off.

Hope this helps.

Desiree Hillard, Broker
Nathaniel Duclos, Broker
"PoweHouse of activity"
Keller Williams Realty
704-496-7532
0 votes Thank Flag Link Sun Apr 1, 2012
many people have allergies, so carpet should be your solution only if you are going the cheapest possible route. as a home buyer (who doesn't have allergies), hardwood > tile > linoleum > carpet.

countertops: you are going to have to go with real stone (granite, etc) if you expect to sell >$300k. try to pick a color of something that goes with your floor, and that looks 'new.' females pay a lot of attention to the kitchen, so you should consider replacing your kitchen sink if you are replacing your kitchen counter. get a sink that mounts *under* the counter, not overlapping it. vessel sinks are hot items for the bathrooms, save yourself a ton of $ buy purchasing them online (along with the vessel sink faucets) instead of at lowes/home depot. newer cabinetry has hidden hinges, cheap updates include simply adding stain to the cabinets and adding new hardware (drawer pulls and handles). note that they have do it yourself kits at the home improvement stores to stain your current countertops and make them look high end; these kits are expensive, run the risk of not turning out well, and it'd be cheaper and safer to just buy a counter that looks like stone.

If you dont have crown moulding yet, it is one of the best architectural 'wow' factors you can add for the money.

Assess what price you want to sell at, then search for houses that are +$50k that have sold nearby. you want the "look" of the more expensive houses, because your buyers will have looked at those homes and find yours as having similar features buy a 'better bargain."

as far as ROI, it used to be a lot more straightforward... With the market to sell homes so bad, you either need to take the hit and sell it lower than you'd like, or take the hit and put money into it to make it look updated and modern in order to sell it. my guess is that it turns out to be equal in the end on whichever path you choose... For example: While you might put $40k into a house and get a +$25k increase in sales price, if you didn't put the $40k into the house, it would probably take much longer to sell and you'd end up taking a -$15k hit after the buyer's inspector and appraiser and real estate negotiations.

The best ROI that you can get for your house will undoubtedly be your investment in selecting a Realtor. I am likely to get flamed for this, but I wouldnt hold onto a Realtor longer than 3 mos, 6 at the most. and interview at least a half dozen before you make a selection. find out what they will do for you: open houses are a waste of time, open houses where they invite other realtors are helpful. printing out paperwork to leave when the potential buyers come in that outlines what is new, what is improved, what is great about living there is essential. if you arent getting 2-4 showings per week, either your home is priced very wrong or your Realtor is lazy. the best way to pick a realtor? Pretend you are a buyer -- Call and view some homes that are close to your price point and near where you live. See how well you are treated. do they guide you through the home telling you what features are nice/significant/valuable? do they let you wander while they make phone calls in the entryway?
0 votes Thank Flag Link Mon Jan 9, 2012
You need to look at the competion in the neighborhood, let's go in and see what they have to offer compared to your house. My daughter bought in 2007 in the neighborhood, what attracted her to her home was it had updated appliances, fixtures & flooring. It had been recently painted inside & out, had a new roof and a termite bond.
Once you have seen the competition, then you can make a decision on what is the best way to update your home for today's market.
0 votes Thank Flag Link Sun Jan 8, 2012
Tabjordan,

If you are thinking of putting your home on the market...you need to look at it from a buyer's perspective. I recommend consult with a couple of Real Estate agents and ask them for advice on what to do and not to do.
A lot depends on the price point of your home as well...The higher the price of the home the more move in ready they are expecting it to be. By that I mean granite countertops and hardwood flooring.

You are not want to spend a lot of money that you may not recoup back. if your carpeting is in good shape then do not repalce it. Hardwoods/lamnate flooring are asthetically more appealing to buyers today as a whole; but it does not mean that if you have carpet in good condition to tear it up just to put hardwood floors in.

In terms of countertops the granite ones are the most popular right now and the prices on them have gone down dramatically.... but again it is personal taste and depending on the condition of the kitchen and what you are trying to get out of the house it may not make financial sense.

I always do a walk through on a home with a potential seller... I explain things that they may want to fix and should do to help sell a home. Decluttering a home is huge. The more open and spacious you can make a home look the better it will be to prospective buyers. You want soemone who has done this daily to tell you what they recommend or what you should price the home at based on the current condition of it.....

Also, Not all Realtors are the same. Some will want you to overspend to make their lives a lot easier with no return on the investment of what you are going to spend. Others (like myself) will tell you what the home should sell for in it's current condition versus doing certain upgrades..then you have to decide if the cost outweighs the gain.

Also, the way A Realtor markets the home plays a large part in hwo well the home will sell... not all Realtors are the same in marketing and a home that is ready to move into with all the upgrades done can sit on the market if it is not properly marketed... I have sold homes where others have failed becuase of this...

So, my advice is talk to a couple of Realtors. have them come out ot your home and give you advice on what to do and not to do and decide if it is worth the investment
Web Reference: http://www.davedicecco.com
0 votes Thank Flag Link Fri Jan 6, 2012
Yorkshire is a great community! I'm sure you're overwhelmed by the great responses but the first thing you should do is get a realtor inside your home. Once we see the home we can give you a better idea of how your home compares to others in the neighborhood. I've taken some of my clients to view the competition prior to putting their home on the market so they know exactly what they are up against.

In general buyers are looking for homes that are move-in ready. Neutral paint colors and minimal clutter - this allows them to visualize their furniture and personal items in the home. Sometimes creative staging allows you to work with what you have and not put any money into it. It all depends on what your home looks like - I'd love to come by discuss your options as well as what's going on in the Yorkshire community.

Anise Naber-Morris
RP Realty
704-906-6447
Anise@RealEstateByAnise.com
0 votes Thank Flag Link Fri Jan 6, 2012
Starting with curb appeal!! I would make the home in good showing condition. At the same time, the price per sq. foot is a important to draw for the buyers to look at at property. Hardwoods & Granite are a selling point, but if the home looks clean and fresh, thats more important.
0 votes Thank Flag Link Fri Jan 6, 2012
Hi Tab,

According to this year's Cost vs. Value annual report, the most ROI for remodeling projects in the Charlotte area was a minor kitchen remodel, bringing in a 78% return. This was classified by replacing cabinet fronts and adding new hardware. Replacing dated appliances with energy efficient models. Replacing laminate countertops with a hard surface counter, including adding a mid-priced sink and faucet. This also included repainting trim, adding wall coverings, and removing and replacing resilient flooring. Hardwoods would be a nice touch throughout the downstairs as well, or even the cheaper alternative of laminate wood flooring.

The Yorkshire neighborhood has seen many distressed sales in the past six months, 46% to be exact. In order to compete against the low prices of the short sales, foreclosures, HUD homes and the like, you need to stand out from them. These updates you've suggested will help distance yourself from12 homes already listed in your neighborhood.

If you would like to discuss this further, feel free to contact me. Thanks and good luck!

Shawn Knight
Helen Adams Realty
704.231.5525
sknight@helenadamsrealty.com
0 votes Thank Flag Link Fri Jan 6, 2012
In agreeing with the other answers, I can only add that your house has to look like a model home and be priced like a short sale. I just finsihed an appraisal in that area and found that you have some stiff competition from new construction for the buyer pool. When you go on the market you are entering a competition and the question is, "How am I going to win that competition?". You need to look at other homes for sale that are in direct competition to you and be better than they are in price and condition. A good Realtor will take you to preview the resale homes as well as the new construction so you know what you are up against. Buyers have a lot of choices and the one thing we are finding is that they do not want to lift a finger in repairs or renovations. They are even willing to pay a bit more not to have to.

Talk to 2 or 3 agents before you doing anything and you will get an idea of what you need to do win the game.
0 votes Thank Flag Link Fri Jan 6, 2012
I have answered once, but want to make a couple suggestions. After looking at what is for sale in Yorkshire, it is all over the place as far as what homes have and are selling. Currently there are 4 homes under contract and 3 of the 4 are short sales. These have some hardwoods and varying degrees of updating. It will really depend on your home, how it currently compares with the other homes on the market, your lot, lot size, etc...Again, if I can help you further, please give me a call. Lee Ann
0 votes Thank Flag Link Fri Jan 6, 2012
Well if I was looking to put a property on the market I would suggest you speak to a Realtor first. Let the agent preview the home and give you suggestions on where to spend the money and time to get the most return. Many homeowners start putting money into a property that should of not been done thinking they know the market. It is always nice to have updates in a home, but you must make sure the current market in your immediate area can support such a price point. Visit my website at http://www.carolina-real-estate.com.. there are some helpful hints for Sellers looking to put their home on the market. Inventory is down and it is a good idea to get out there before inventory increase..
0 votes Thank Flag Link Fri Jan 6, 2012
Good afternoon!

You have asked a really good question! There are several factors that a Listing Agent will consider when guiding a Seller Client. I would review the current Listings (there are 9 Actives, 2 of which are currently under contract) to see what our competition has to Offer and the Comparable Sales to see what has sold. I would also take into consideration what the market price is for your home and then back in to what updates we can do in order for you to still be able to hopefully sell.

I do think Buyer's are looking for a turn key property, meaning updated. Most Buyer's don't want to have to make the esthetical changes and it is still very much a Buyer's market so they will be diligent about trying to get their needs fulfilled. I do think a solid surface countertop, such is granite, is important. I also feel like hardwoods are common on the main level rooms and are desireable. Of course, there might be Buyer's who do want carpet so it is a matter of preference. Spending money on kitchens and baths are typically good areas of a home to get the best return on your investment.

If you have not partnered with a Listing Agent/Realtor, then I would love the opportunity to meet and learn about how I can help accomplish your Real Estate goals. I have worked with several Seller Clients where we have made updates to prepare their home for the market as well as I have several investors who renovate and sell homes. There are several cost effective projects that make a huge difference.

Please let me know how I can help and best of luck!

Debbie

Debra M. Buck
Realtor/Broker
HM Properties
704.421.2107 Ce;;
Web Reference: http://www.hmproperties.com
0 votes Thank Flag Link Fri Jan 6, 2012
What a great time to be putting your house on the market...Our market is zooming right now!!! Not sure how long it will last but we all hope this is just the beginning!
In this market, we recommend everyone have the house in the very best condition possible for you. Fresh, neutral paint colors, clean or new carpets, updated kitche and or baths if possible. If thesre things are not financially possible, we can view your home and give you a check list of the very best things to do for your money to compete with the other listings in the area. Good luck and please call if you would like my assistance! Lee Ann Miller 704 562 2922
0 votes Thank Flag Link Fri Jan 6, 2012
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