Paula Loniak, Home Seller in 6750 Carol Drive, Se...

I paid (6750 Carol Dr, Sebast.) $625K in 7/06. I've made many improvements (in & out) Sale price now?

Asked by Paula Loniak, 6750 Carol Drive, Sebastopol, CA 95472 Sun Jun 22, 2008

Improvements: new cabinets, sink, appliances in kitchen. Outdoor storage shed (tools, garden tools). Separate storage (or other purpose) building behind house---LARGE). HUGE amount of landscaping/curb appeal improvements. Some bathroom remodeling (reglazed tub/shower; new sink.vanity in one bathroom). Fencing improvements. Indoor painting in almost every room.. I'm thinking of moving back east but will wait if market will improve or I can get back my original investment when selling within a year.

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Hi Paula,

Sebastopol has been somewhat insulated from a lot of the market decline but not immune. Remodeling your home in the last few years gives you more assurances of a higher price than you may looking at if you hadn't done any work to the property but it may not guarantee a "break even" price. Keep in mind that you will have transfer fees and other title/escrow costs not to mention, Realtor fees when you sell a property. These fees are tax deductible any loss would be as well.

I would reccomend that you have a few local Realtors come by and do a Market Analysis with you and let them see your improvements. I remember seeing you home years ago and I am sure the work you have done will pay off.

The market is doing better than it was and some light is visible at the end of the tunnel. The biggest challenge now is competing with the foreclosure market that is in full swing around us.

If you need anything, please don't hesitate to contact me.
Best to you,

Ken


Kenneth Schrier
Kenneth Schrier Real Estate Group
CPS Property Advocates
http://www.Kenschrier.com
kenschrier@aol.com
707-529-4819
Web Reference: http://www.kenschrier.com
0 votes Thank Flag Link Sun Jun 22, 2008
Paula, It sounds as though you have made a number of good solid improvements to your home, which is in a good commute location and close in to town but with a country feel. I just ran a number of market trend graphs in your price range--$575K to $775K and you might be surprised that Sebastopol, along with certain other highly desirable parts of Sonoma County, has not been hit as hard as many other areas. The median price in that range is stable to up slightly. The ratio of accepted offers to new listings is double what it was last year at this time, and the average days on market is up only slightly. I can't really comment on how much your improvements would add to your sales price however without seeing the property. They should certainly help it to sell faster. But homes of your square footage on nice sized lots and in a good location should sell quickly if price well. If you would like to see the charts, I can email them to you. You can also find good market updates on my blog below, or by calling me. Good luck in your decision-making.
0 votes Thank Flag Link Sun Jun 22, 2008
Hi Paula,

I remember your home from its marketing in 2006. As I recall it had an intriguing second 'wing'. The improvements sound great, and I'm also curious as to whether you've done any internal reconfiguring. The house shows on the tax records as approximately 1852 square feet on a .38 acre lot, originally built in 1954. To be completely honest with you, the July 2006 period was at or near the Sebastopol peak of market, and it would be irresponsible of any Realtor, even one very familiar with Sebastopol neighborhoods, to assure you in this forum that you could definitely achieve your original investment and the improvement costs of what you've done since your purchase. The only way a Realtor could fully and responsibly inform you of this potential would be to view your home, review recent comparables with you in detail, review the costs of selling your home, and then let you decide whether or not it was time to sell. If you were represented by a Realtor in your 2006 purchase and if you have confidence in him or her, that would be a good place to start. Consulting another one or two Sebastopol neighborhood experts would also be a good idea, as this way you would get maximum input to make your decision. Finally, please don't put too much stock in the data returned to you by sites like Zillow, or by boiler-plate estimates of your home's worth sent by mortgage companies, etc., as each home's market value is very individual. Especially country property where the houses aren't cookie cut like suburban subdivisions...

I hope my comments are useful and I wish you the best.

Sincerely,
Susan Bryer
0 votes Thank Flag Link Sun Jun 22, 2008
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