I think that you've fallen prey to two common mistakes, as long as the criteria from yesterday is still the same.
What you said yesterday is that you expect to sell your one bathroom house for $230,000 minimum, and I now I know that your one bathroom is dilapidated. If you want to sell this house on Murray Hill for $230,000.00, then I believe that it probably needs a bathroom overhaul.
I'm assuming that everything else is just perfect. $230,000 for a 3/1 on Murray Hill has only happened once out of 9, 2/1 or 3/1 sales on your street in the past 3 years. That was in 2005. 346 Murray Hill. Just once in 36 months.
There were two other sales at $210K net and $207K net. Then the sellers paid commissions.
It's now 2008, and it's a superb market for Buyers, not so for Sellers.
May I walk over and see your house tomorrow? I can help you make a more informed decision if I can see it. Otherwise, whoever gave you the "strong advice" doesn't subscribe to the strong advice that I always give. I cut and pasted the following directly from a page in my listing presentation guidebook.
Mistake #1 Donâ€™t have the Time â€“ Do later
You have about 15 seconds to make your first impression on a potential buyer. You may never get a chance to explain why something does not sparkle, does not work, or is going to be replaced.
Mistake #2 Just give an Allowance
Hikers say â€œan ounce in the morning feels like a pound in the afternoonâ€. Hundreds of dollars postponed up front will likely turn into thousands when the offer comes in. Buyers will get lost in fear, â€œwhat ifâ€ scenarios, hassle factors and dÃ©cor paralysis.
Remember the detailed competitive analysis that I offered in my answer this morning? Remember the part about maximizing equity preservation? Selling in 2008 will be tougher on equity preservation. It just will be. So, that's when you calculate the counterbalance of picking up an amazing purchase deal closer to your office(s) . What's the value of that? Check out this post on my website, http://www.intowninsider.com
, if you want to investigate a deeper thoughts on this "long term" approach to real estate investing. It's called "A Joke About Economists for Real Estate Sellers in 2008."
If I am invited, then I can walk two blocks to your house one afternoon this week, meet with you, see your property and then, if you want, we can go together to see your 3 closest competitors. After an hour or so with me and my Listing Expert Greg Ruis, you just might question the value of who is giving you "strong advice."
No risk to you, and you may just hire me and my team, in lieu of someone else who's soliciting "strong advice" in this extremely aggressive, high inventory, Intown Atlanta Buyer's market.
I would appreciate the opportunity to earn your business.