STEP 1: Contacted Creative Home Services for an Appearance Needs
Analysis and didn't think I needed to do most of what your
Appearance Consultant suggested.
STEP 2: Listed the property by owner at $174,000. Placed a
newspaper ad two times for two months. The results were
not encouraging...two calls, one showing, no offers.
STEP 3: Began interviewing realtors -
Realtor #1 - Suggested in present condition my asking price
should be around $140,000.
Realtor #2 - Listed property with second realtor with asking
price of $171,900. After 30 days an offer came in
for about $10,000 less than my asking price.
Although I accepted the offer, I ultimately
rejected it after negotiations failed with the buyer
and also my realtor.
At that point I decided that if I was going to drop
the price $10,000 that I would rather invest the
money with the chance of making more. In my
opinion a better option than just dropping the
price.
STEP 4: Contacted Creative Home Services to do the work originally
suggested. Improvement costs were about $5,500.
STEP 5: Began interviewing realtors again -
Realtor #3 - She said no property had ever sold for more than
$160,000 in my area.
Realtor #4 - Was a bit skeptical of price but thought the house
looked great. Listed with him at $181,900. We
had three showings in seven days. Two offers
came in - one at the asking price of $181,900
and the other at $180,000.
I closed the sale in August for $180,000. My
profit after all improvements and 5% sales
commission was about $11,000.