Home Selling in 22556>Question Details

Creekgirl12, Both Buyer and Seller in Stafford, VA

My husband and I purchased our dream home at the top of the market about 3 years ago. It is a gorgeous home

Asked by Creekgirl12, Stafford, VA Thu Jul 3, 2008

with wood floors, huge kitchen, double ovens, granite, beautiful upgraded cabinets... The two finished levels amount to over 4000 sq. ft. Will the fact that we have not put a deck on or have a finished basement keep us from being able to sell? We are not expected to get back what we paid, but need enough to purchase a smaller home.

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9
Greetings,

It all depends on how you price and market your house, the market has improved. I just recently sold a house for a client for $7000 less than what it was bought during the market hype at the end of 2005. They were expecting to get a bigger hit since the market has not fully recovered. If you would like free market analysis of your home, please call me at 540-737-8150 or you can fill out the form in my web site http://www.buyorsellfredericksburg.com for free Comparative Market Analysis.
0 votes Thank Flag Link Fri Oct 18, 2013
Your home sounds gorgeous. If you purchased the house at the top of the market, you may be disappointed when you see what today's market value is. If you would like a comparative market analysis completed for your home, please let me know. I am more than happy to help you determine what your property is currently valued at. I am a local realtor in the Stafford area. Call or email me (571-330-0741 or LuvnNLivn@gmail.com).
0 votes Thank Flag Link Sat Jul 24, 2010
Hi Creekgirl12,

I am just checking in to see if you decided to keep your dream home and if you are doing well?
The inventory is lower than it has been in many years and depending on your reasons for moving now
might be a good time to evaluate your home with the market pricing.

Rebecca Straley
Licensed Broker in the State of Virginia
CAPITOL PREMIER REALTY
701 Kenmore Avenue #220
Fredericksburg, VA.. 22401

Direct 540-834-6263
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0 votes Thank Flag Link Sat Jan 30, 2010
Most Buyers are looking for exactly what you describe in your home with the exception that they are also wanting a finish basement, fenced back yard and deck because of the extended family. The fact that you do not have a deck or finished basement will only hurt you if you expect top dollar for you home in this market. As a licensed appraiser, comps will likely be homes in your market area without the items mention above. Even if some of the home used in the comps are superior, It may cost you 20k-50k in adjustment depending on your market area. Remember, that you will also be saving when you buy a smaller home because they are in the same situation. If you do not need to sell your dream home at this time, don't. Check with your bank, you do have options. Good luck.
0 votes Thank Flag Link Tue Sep 29, 2009
Why are you selling it? Didn't you say it is your dream house. Did you find another dream house? Maybe just stay put. Good luck
0 votes Thank Flag Link Wed Jul 9, 2008
Dear Creekgirl,
All market conditions are local..however..I would not sell your property at this time. If you can hold on to your property for a year or more, you have a better chance of selling when the market has adjusted.
0 votes Thank Flag Link Thu Jul 3, 2008
Price, location and conditon are the key factors to successful sales in this market. Do you owe more than what the home is worth in today's market? If so then is selling the best move for you right now? The fact that you don't have a deck, especially if you currently have sliding glass door with wooden bars in front of it, or an unfinished basement will play heavily in your pricing. Make sure you are looking at all the right numbers and talk with your accountant about any financial consequences you might be facing before you decide to list your home.
Web Reference: http://cindyjoneshomes.com
0 votes Thank Flag Link Thu Jul 3, 2008
No, it won't hurt you IF you price your home accordingly. Runs comps/CMA and factor in the lack of a deck and an unfinished basement along with everything else in order to come up with the market value/estimated sales price.

Sorry to be blunt with my next statement and please don't take offense... Unfortunately, the market nor potential buyers care about how much you need to get out of it nor how much you're losing. And neither you nor your agent have any power or control over market value. Market value is what it is...
Web Reference: http://www.LoudounScene.com
0 votes Thank Flag Link Thu Jul 3, 2008
sorry - unless you compensate with a MUCH lower price, yes, those things will be things you hear are reasons people chose another home over yours. the market is FLOODED with homes, and whatever you think you home is worth, you're very likely way off (I really hate saying that to people, i am sorry). I am going to say (I dont know your house or area) a deck and unfinished basement that's 2K sf, your price should be about $50K less than something comparable with a deck and finished basement.

OK - now I KNOW you never want to talk to me! Don't cry.
0 votes Thank Flag Link Thu Jul 3, 2008
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