Should I upgrade one of these items to try to sell quicker? (Marlton, NJ)

Asked by Mary Beth Zeitz, Marlton, NJ Mon Jun 28, 2010

I have an upscale house, 4 br, 3.5 bath, 4000 sq ft with the finished basement, stucco front, gorgeous. Mostly hardwood on first floor. I love this house but we can no longer afford to pay the mortgage, financial problems, so we must downsize asap. I have borrowed over $6000 already to upgrade some carpet and floors, etc. However some of the carpets are old and do not look very good. The appliances are original (10 years old). We seriously have NO money. I would have to borrow more or put stuff on a credit card. I was considering either getting all new stainless appliances (cheapest ones) for like $2000, or updating maybe 3 rooms of carpet for maybe the same amount. Should I do either? Or which one?

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11
Jenet Levy, Agent, New York, NY
Mon Jun 28, 2010
You might want to just clean the carpets rather than replace them. You can have them professionally done or even rent the steam cleaner yourself. Or if there are good floors underneath, expose them. Since you say your home is very upscale, I wouldn't buy the cheapest stainless appliances just to make it look more modern. If the 10-year old appliances are good quality, I would just get them sparkling clean and leave them.
1 vote
Scott Godzyk, Agent, Manchester, NH
Mon Jun 28, 2010
Your bets bet is to have a couple of agents come in, let them gove you a free broker price opinion and their opinions of what is needed or what is alright the way it is etc... It is better to do nothing than do something cheaply or inexpensively in a home your size. An expereinced agent in your area who specializes in your area and type of home will easily be able to tell you what you can get as is compared to what you can get if you upgrade or repair anything. It is near impossible to make recomendations online without seeing your house, so take the extra step , and have some agents come through. good luck with your sale
1 vote
Bonnie Mushn…, Agent, Cherry Hill, NJ
Mon Jun 28, 2010
As a Realtor, home staging & redesign specialist, based on your description of your home as "upscale" - at minimum most people would expect the kitchen to be updated to include stainless steel appliances. I would rather see you invest your money here, since carpet selection is a very personal choice and most new home buyers will select and purchase their carpet of preference. You might also consider having a staging professional do a consultation to give you direction as to what minor improvements you can do to garner the greatest interest in the property. For instance, a small investment in paint in an updated color can do wonders to attract your eye to the wall surfaces, while detracting from the carpets that are older. If you would like to learn more about the benefits of home staging, take a minute to visit my site. I wish you the best of luck with the sale of your home.
0 votes
Anrold, , Mullica Hill, NJ
Mon Jun 28, 2010
Having an upscale 4000 square foot house is not an easy sell in this market. My house went under contract after three years and numerous reductions. I ended up selling my house for what I paid for it in 1995. It is a 4700 square foot custom house updated in 2007, and kept up meticulously. I believe the best thing you can do is to lower the price, to the absolute bottom. You can go to zillow to see what your house is worth. Look at the accuracy statistics for your area and you will get the picture very fast. I sold my house for almost 20,000 under the zillow number. My house is the only 500,000, 15 year old house to get a contract recently. Just look at the recently solds under your zip code. If you want help just email me. I will help you for free. I will give you honest advice as I have nothing to gain.

lod1011@aol.com
0 votes
Ines De La C…, Agent, Marlton, NJ
Mon Jun 28, 2010
Hello Mary Beth,
Thank you for your question.
I would not spend any more money until I had a couple of Realtors visit the home and give you an idea of the current market and their opinion on the condition of the home. We know what people want or expect in a home your size. Cleaning everywhere and organizing the home the most you can is a good way to start.
A very important part is to find out how much equity you have in your home.
Let me know if you have any other questions.
Ines De La Cruz
RE/MAX Connection - Marlton
1000 Lincoln Dr. E. Suite 2-B
Marlton NJ 08053
856-988-1800 ext. 169
inesdelacruz@remax.net
Web Reference:  http://www.inesdelacruz.com
0 votes
Jeremy S. Hi…, , Cherry Hill, NJ
Mon Jun 28, 2010
Mary,

There's no fixed answer to your question. First whether you put more money in the home really depends on whether you have equity or not. Then how much equity. How your compare will compare to similiar size homes in your same development or town makes a different. Before you start making upgrades and spending more money you need to an market analysis consultation. During this time you will be given an idea of how fast you may be able to sell your home based on the current market. What price your home perhaps can be sold for. Or how long you can expect days on market. All of that will be contingent on the current condition of your home, your equity and the number of similiar homes on the market. If you'll like some professional assistance I'd be happy to help.

Best Regards,

Jeremy S. Hill, Realtor Associate,
Keller Williams Realty
http://www.YourPhillyHomeSearch.com
http://www.SouthNewJerseyHomes.com
Office: 856.685.1651
Direct: 609.876.5817
Fax: 609.482.8235
Licensed PA, NJ
"Your Interest 1st Always"
0 votes
Gina, , Turnersville, NJ
Mon Jun 28, 2010
Hi Mary Beth:

You have received some good advice. I would have to agree. If you really don't have the money, why put yourself deeper into that financial situation. Also, 10 year old appliances are not bad at all. I would clean everything and have an agent come in to give you a Comparative Market Ananlysis to see where your home would be price wise.
If I can be of further assistance, please don't hesitate to contact me anytime!

Good Luck to you!
Gina Fagnani
GinaFagnani@aol.com
0 votes
Elisa Dewees, Agent, Cherry Hill, NJ
Mon Jun 28, 2010
Hi Mary Beth,
It looks like you are a stager? In addition to getting Realtors in to give you a pricing analysis, interview one that can help with staging. The homes that look clean, neat, clutter free and have that extra little something to draw a buyer in will sell first and for the best possible price.
I have attached a link to one of my listings that sold recently, was not updated but showed well. Hope this helps!
Web Reference:  http://www.6WendoverCt.com
0 votes
Ron Simone Jr, Agent, Clark, NJ
Mon Jun 28, 2010
Well the choice is yours, depends on what you home is worth how much equity you have and if you do the upgraded little things will that warrent you money back. Most yof the time it is not worth it. People are buying the four walls when they walk in the house yes its nice to have newer stuff but it can jjust be taken of the price. My suggestion is to if you have the equity consider it into the price the home take it a little lower than what comps are showing in your area being you have older appliances and needs some work and let it sell for whhat the home is worth there is a buyer for every home and upgrades or not if the home is priced correctly it will sell without you spending anymore of your time or money.


Ron SImone Jr.
All Towne Realty
Realtor/Associate
732-978-0991 Cell
732-453-2930 Private
RSJ58@aol.com
NJAR Circle of Excellence: Bronze Producer 2005 Silver Producer 2006-2009



Top 1% in sales of over 16,000 Union, Hudson,Bergen, Essex, & Middlesex County agents in 2006 & 2009

"A referral of your friends & family is the finest compliment I could ever receive"
0 votes
Jessica Noon…, Agent, Medford, NJ
Mon Jun 28, 2010
Mary Beth,

Scott is absolutely correct. It is better to do nothing than to do something cheaply and rushed. If trying to decide the lesser of two evils, upgrading your flooring is always a good way to go. New carpet and a fresh coat of paint definitely go a long way. However, if you are struggling financially, it may make sense to do nothing. I would be happy to sit down and discuss your options and as well as provide you with a complimentary home staging and market analysis. Please feel free to contact me at any time!

Please let me know if I can help in any way! I'd look forward to hearing from you! Best of luck!

Sincerely,

Jessica E. Nooney
Weichert Realtors
(609) 654-8633 Ext. 121
(609) 276-8183 (CELL)
(609) 479-5333 (Direct Fax)
jnooney@weichert.com
http://www.yourjerseyrealtor.com

"Helping You Reach Your Real Estate Goals - Buying or Selling"
0 votes
William McCa…, Agent, Wall, NJ
Mon Jun 28, 2010
I think the best quick cheap fix is paint.
Bill
0 votes
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