Home Selling in 75206>Question Details

Allison Evans…, Both Buyer and Seller in Dallas, TX

Remodel before selling? Purchased M Streets home in July 2013, and need to move late winter 2014/spring 2015.

Asked by Allison Evans Callaway, Dallas, TX Fri Feb 7, 2014

My husband and I purchased our home in the M Streets/Greenland Hills only 6 months ago, and now his company is going to relocate us out of state in 12 months. We had planned to do some remodeling projects for our own enjoyment: update fireplace surround; add crown molding in kitchen; redo master bathroom; change kitchen floors from tile to hardwoods. However, this was on the assumption that we would be living in the house 3-4 years and be there to enjoy the updates. We have already made superficial improvements such as better decorating which will help with staging, new recessed lighting, repainting, and changing tacky light fixtures.

If we need to sell in the next 12 months, considering we will only have been in the house 18 months and the market hasn't gone up much (if at all) and we have a 30-year mortgage so we have been paying mostly interest so far, what should we do?

Remodel to hope for a higher selling price, or sell as-is, presumably at the same price we bought it? Thanks!

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Answers

15
How is it going? Did you decide to remodel or leave as is. Prices are up about 10% year over year and people are scouting for houses. Either way I think you can't go wrong.

You can get an idea of what is for sale at the link below.

Would love to see your house and give you our ideas if you still need to move.
0 votes Thank Flag Link Sun Dec 21, 2014
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
I commented below....
but a while back, I wrote a blog-post on this exact topic:

http://amyareyrealtor.wordpress.com/2012/08/21/should-i-reno…

-Amy S. Arey, Realtor
Halo Group Realty,LLC
214.901.1341-Cell
http://www.Aarey.HaloAgent.com
0 votes Thank Flag Link Tue Oct 21, 2014
I second. Most likely you will not regroup you investment. Partial painting to clean it up is all I will do.
Every project you add to, you only get a fraction back($) if any.
0 votes Thank Flag Link Tue Oct 21, 2014
I would avoid the personalized renovations. Adding crown molding can be a beautiful thing, and can help you enjoy your home more, but the return on an investment like that can be half of the cost. If you are open to it, you can consider leasing out the property for a few years to get your mortgage balance down, and maybe put a bit of passive income into your reserves for the property. If you hold out for a little time, you can hope that the market goes up enough to cover your bases. If you bought in the summer months, and are trying to sell in the winter, there is less of a fever to buy, and the selling price may be less than desired.
I hope this helps.
Keith W Hefner
Keith@KeithHefner.net
0 votes Thank Flag Link Thu Oct 2, 2014
Have you started fixing your home? It's a little hard to give you advice without looking at your home. Let me know if you need help selling your home. I usually sit down and talk to my clients and see what their goal is, then walk through the home and advised my clients on what needs to be done to accomplish their goal.

Best of luck!

Susie Kay
United Real Estate
469-371-2899
http://www.dfwdreamhomes.net
0 votes Thank Flag Link Mon Sep 22, 2014
As you know, "M-Streets" is a very popular area, but my answer would depend on what your last 3-months "comps" look like. In this situation, I would run comps "as-is" to see what the average price per sf is vs running comps of upgraded, similar homes, then looking at your budget for the upgrades to see if it truly was the best decision. From here, you would be able to determine realistically get an idea of what your ending "net" would be for each scenario.

Feel free to contact me if I can be of any assistance with any of your questions or in helping you get your home sold. I adore M-Streets!

-Amy S. Arey, Realtor
Halo Group Realty, LLC
214.901.1341-Cell
http://www.Aarey.HaloAgent.com
http://www.MckinneyRealEstateInfo.ccom
0 votes Thank Flag Link Mon Sep 22, 2014
It depends on several factors, but buyers are getting a lot more savvy on "remodels" and the quality of work done. Last year I flipped 150+ houses, all over the US and in Dallas...and have seen first hand what improvements work and which ones don't.

Based solely on your statement, it doesn't sound like you need to. Updating the exterior could prove to be the best investment too.

Let me know if I can help, and if you do need some referrals for someone to landscaping or remodeling I've got the best guys.

Conor Riley
Dave Perry-Miller & Associates
858-900-1460
conorriley@daveperrymiller.com
0 votes Thank Flag Link Wed Jul 30, 2014
There are things you can do that will add monetary value and things that you can do that will help it sell faster...we can easily discuss your options! Feel free to call, text or email! Happy to help!
0 votes Thank Flag Link Mon Jul 28, 2014
If you give me a call or email me, I will respond and give you exact calculations on your home of how much it would probably sell for in this market and also some choices of great remodeling providers in the area and some of their costs. Have a great day!
0 votes Thank Flag Link Thu Jul 24, 2014
Good afternoon, this is my neighborhood. Are you still looking to sell because I would be happy to help you. The average listing time right now in M streets is only 20 days and the market's main focus in strictly on price per square foot. Your home will be advertised to other Realtors with at LEAST 3% commission, so expect to pay at least that much on the listing. Then the listing agent will not usually want to work for free and generally will also ask for 3%, but this is also negotiable. I would be happy to discount the commission for you if you agree to buy your next home with me. Lets talk when your ready contact me anytime!
0 votes Thank Flag Link Thu Jul 10, 2014
Is your husband's company offering relocation benefits? In some cases, companies will offer relocation incentives to assist sellers in the sale of their home, particularly when they are likely to take a financial loss as a result of an unexpected sale.

While the M-Streets is consistently a hot area, most remodeling projects won't necessarily result in that much higher of a net for the seller. Keeping your house in good repair, and minor cosmetic touches, as well as staging will help.

But do check on relo benefits. In many cases, a relo company will absorb closing costs and broker commissions to ensure the highest possible net for the seller.

If you have any questions, please give me a call. We frequently work with relo buyers and sellers.

Vince Leibowitz
Nathan Grace Real Estate
972-876-6175
Vince@nathan-grace.com
0 votes Thank Flag Link Sat Mar 1, 2014
You don't want to overdo your remodeling as you won't get all your money back. You'll just be able to sell your home sooner if you remodel and get part of your money back.

What is your goal with your current home? Let me know how I can further assist you. I have a client looking into purchasing in M Streets in about a month or two.


Susie Kay, RealtorĀ®
GRI, CHMS, SFR
Residential/Commercial/Investment
English-Indonesian-Hokkien
------------------------------------------------------------------
United Real Estate
III Lincoln Centre, 5430 LBJ Freeway #280
Dallas, TX 78240
469-371-2899
susie_k@att.net

http://www.dfwdreamhomes.net

Servicing your real estate need is my priority!
0 votes Thank Flag Link Fri Feb 7, 2014
You don't want to overdo your remodeling as you won't get all your money back. You'll just be able to sell your home sooner if you remodel and get part of your money back.

What is your goal with your current home? Let me know how I can further assist you. I have a client looking into purchasing in M Streets in about a month or two.


Susie Kay, RealtorĀ®
GRI, CHMS, SFR
Residential/Commercial/Investment
English-Indonesian-Hokkien
------------------------------------------------------------------
United Real Estate
III Lincoln Centre, 5430 LBJ Freeway #280
Dallas, TX 78240
469-371-2899
susie_k@att.net

http://www.dfwdreamhomes.net

Servicing your real estate need is my priority!
0 votes Thank Flag Link Fri Feb 7, 2014
PS:
NOTE: Trulia currently has a tech issues posts/comments are currently shown as run on statements from professionals
0 votes Thank Flag Link Fri Feb 7, 2014
I have lived in M street area, have friends, and clients in the area. M street homes have had an increase in market value HOWEVER would have be careful not to remodel with at least recovering some of your expense.

I do work with clients on consultant bases to assist with all questions you have for future resale. If the home is listed using my real estate services we rebate the consultant fees.

Allow my professional profile to introduce myself to you
http://www.lynn911.com/Web/AR287090/About/index/5002763

Contact my office today where I can show you many amazing homes work with your family specifications.
_________________________________________
Lynn911 Dallas Realtor & Consultant
Multimillion Dollar Sales Producer
972-699-9111
http://www.lynn911.com 100's of Dallas homes listed for sale or lease

Follow me on Facebook and Twitter
http://www.facebook.com/lynn911dallas
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(If my answer is helpful indicate by THUMBS UP or BEST ANSWER. Thank you )
0 votes Thank Flag Link Fri Feb 7, 2014
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