Just Asking, Other/Just Looking in Rockport, ME

A friend is almost ready to put her newer (1970s) home on the market in Rockport. There is some updating to be done. Should she sell the house as is ?

Asked by Just Asking, Rockport, ME Sun Apr 15, 2012

The areas to address: re-seeding the yard, fresh paint (interior), about $5k has been the quote to do the work (she can't do it herself). If she sells at around $120K she will just pay off the loan see no return on improvements.

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Just Asking’s answer
Thanks for the good answers! She does have an agent (Has not signed a contract yet) but the agent is not giving her a clear picture of the sale value versus putting money into maintenance. The agent is basically saying it's a slow market, not many people are looking. I agree about curb appeal; it's a shaded lot and the grass just wasn't maintained. I would say a new buyer would expand the house (it's a good sized lot) or add a garage (I would!) so I question the $5k to redo the front yard.
0 votes Thank Flag Link Sun Apr 15, 2012
Have your friend contact me to set up an appointment (if not already working with a Realtor) and I'd be happy to take a look and see the condition of the home and property. Without actually seeing it cannot be determined what the best course of action would be to take. I am a local Realtor, in the Camden-Rockport area. -Beth Smith, Camden Hills Realty elizabeth@camdenhillsrealty.com
0 votes Thank Flag Link Sun Apr 15, 2012
Your friend should be talking to an agent to get an idea of what her house will sell for before she spends any money doing any work.

I haven't seen it so I can't comment on the painting, but unless the colors are very bold or the walls are really marked up, I think she would be better off making sure that everything is sparking clean, decluttered and well staged.

If your friend does not yet have an agent, we would be happy to talk to her. If she is interested, have her send an email to charlene@century21.com or tristan@century21.com, or call Tristan (my assistant) at 939-1307.
0 votes Thank Flag Link Sun Apr 15, 2012
Unfortunately, reseeding the lawn and interior paint is maintenance, and not improvements. Homes with "deferred maintenance" sell at a steep discount to homes that are well maintained. In general , I don't recommend major projects before putting a home on the market. However, reseeding a lawn if needed would be very important to overall curb appeal.
It is difficult to say whether interior paint will make a big difference withour seeing the house. In general, it does. And painting in neutral colors will generally help a house sell much faster. But the most important thing is properly pricing the home. Have your friend ask her agent (1) where the agent thinks it will sell as is and (2) where the agent thinks it will sell with the work done. Also, ask the time frame for both. It generally takes longer to sell as is, if work is needed, and your friend should factor in the carrying costs.
0 votes Thank Flag Link Sun Apr 15, 2012
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