October 10, 2007

Old House VS. New House

By andrewiverson

About 3 weeks ago, we put our house on the market. I knew walking into the sale that our house was worth a certain amount and that I would get resistance from our realtor’s. Wouldn’t you know it… They resisted.

We had a fire in our house about a year and a half ago and when it was all said and done…. The kitchen was a complete remodel, as well as, new wood floors, refinished wood floors, new carpet, cabinets. The works. It took our house from drab to modern overnight. It also raised the value of our house by almost 25k.

It’s a 2 bedroom, one bath. Nothing to write home about, although, it just so happens that 3 other houses popped onto the market the same time ours did. They were all asking well under what I thought mine was worth. I couldn’t blame it on our realtor’s they use their market research and come up with what the neighborhood is selling for… blah… blah… blah, although, I go by what I’ve actually seen in our neighborhood and what houses have sold for.

Also, our house is completely remodeled and the other houses weren’t.

Long story short, I was able to get the price of our house back up to what I thought it would sell for. My realtor fought me but in the end it was the price I wanted.

A week later, we sold our house. Full price offer. Made me wonder if it was priced to low…. Although, if I had belched a higher price, my realtors would have messed themselves. In the end, my gut feeling was right.

Of course, because of the re-finance due to the fire, it lowered our equity by almost half. OUCH!

Within a week we turned around and bought a new place. No, it’s not the house of our dreams and unfortunately, it’s not remodeled like we just had, but it’s in a very nice neighborhood and has a school / park directly across the street. It’s like having a huge backyard in your front yard. The house is also on a dead end street so there is literally no traffic. That’s worth the price in itself.

Anyway, we are moving sometime in August and start the whole remodel process all over again. It doesn’t bother me, I love using my hands, although, it will take some time to get it to where we like it.