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Question
Hello. Just wondering if you could help with a quick question. We are planning to put our house on the market within the next year. Working with a limited budget and lost home value. Looking to get out of our townhouse. Is it generally worth it to invest in replacement windows and a few other upgrades (kitchen counters, etc) prior to selling or better to skip those and just sell at rock bottom. We'd rather not invest if its not really worth it. Our current neighborhood is urban/suburban and perhaps a tiny bit in decline. There are a couple of other similar houses currently on the market with A/C and some upgrades which are on the market for about 20,000 more than we would plan on listing our's. Thanks so much for your help!
Hi William,
In a downtrending market do not invest more money... during a great market (prices going up) you only get in the area of 72-89% of your invested dollars back on kitchen, windows, and structural elements ... so during a down market you would get even less... better to price your unit to sell... and get it sold sooner rather than later...
Keep in mind, there will (during this market - across the country from what I can tell) what I call equity line improvements for sale ...and many of these homes are bank owned REO's or short sales...
Clean, straighten and pack, make the home presentable and don't over price... try to look at the home as if you had never seen the unit before and go check out some comps in the area to know what you are up against at the time you list your home...
Good luck
if you need a referral agent let me know...
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Expertise
Broker,GRI,RealtorŪ, Investor since 1979. Buying or Selling Residential and Income/Investment Properties, How to understand the process, how to negotiate through the transaction, What to Look for - But more importantly 'What to lookout for!', How to tell if the time is right - or hold on and wait. Why not to listen to your friends and even your family members, Who really has your best interest at heart?. Understand why any market is a good market and how to spot a good investment for you! If you are looking in California.. check out my website www.MetroCalBrokers.com and if you need assistance in a neighborhood I don't service, I will locate a local agent to that area who actually knows their profession and can assist you in your needs!
Experience
4th generation Realtor in the real estate business, I have helped for over 2 decades clients buy and sell, I am the owner of a local brokerage in the Los Angeles /Long Beach area, and have been a top producing agent in the area since I became licensed. Working through a deal is different to every client, no two people or deals are exactly the same. Knowing how to bring professional advise to the table with clear and concise understanding of real estate world. I can help you handle your buying, selling and investing, managing a 1031 Exchange, working with Equity Sales, Probate, Pre-Foreclosure Regular and Short Sales there is little that I have not seen come across my desk over the decades!
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All Experts
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Broker-owner,
RealtorŪ,
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Managing Broker for MetroCal Brokers. We merged my old brokerage with MetroCal this year, and we look forward to expansion and growth moving forward. We currently employ 30 Realtors and growing.
15 years running top selling agent in Long Beach, South Bay area California.
Top Producer 5 years straight Re/Max, C21, Realtyworld.
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