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Strategies on selling a house.

specsaregood

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#41
Wow, 50' tall dome ceiling - that's a skyscraper! With 2' thick concrete and steel frame, it should be standing for centuries.
9ft skylight at the top of the dome, all landscaped on "roof". He wanted a tornado proof, energy efficient home and knew how to build it.

 
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Silver

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#42
9ft skylight at the top of the dome, all landscaped on "roof". He wanted a tornado proof, energy efficient home and knew how to build it.
Any pics of that beast?
 

specsaregood

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#43
Any pics of that beast?
Just found that google maps drive by pic I posted above. Property/landscaping has gone to shit; but you can get an idea of the size from that. Still makes me homesick. The entrance way at the front there was a giant terrarium with staircase that went down to the bottom level.
 

hoarder

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#44
The best buyer for a shag carpet remodel is the guy who is going to live in it while he remodels. New construction may be easier and cheaper in many instances, but not when you're paying to live in two houses while building one.
Remodel while working another job. Two years later you're finished and you sell it without paying capital gains.

Agents........it can be expensive finding an honest one. by the time you find out, he/she already pocketed the commission.
Who is most overpaid? A carpenter or a real estate agent? I don't mind using an agent when I'm selling residential, I don't have access to MLS. When I buy, I don't want them.
 

ToBeSelfEvident

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#45
Our 1963 1-story slab is built like a brick outhouse. Several of the interior walls are concrete block since they used to be exterior walls. The other interior walls are lath and plaster. Under the carpets the whole house is terrazo. The roof decking is oak tongue-and-groove 1x6. Framing is on 16" centers and the old timbers are like iron. Still got the original in-wall oven made by General Motors and the pink aluminum Nutone range hood.
 

Goldhedge

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#46
if the guy doesn’t like it but the wife does you still have a chance at the sale
That is fact!

The man loves the garage, but the woman always buys the house.


IF you are planning on painting, it's cheap as dacruch says.

HOWEVER... keep with NEUTRAL colors. I don't care that you just love that purple mauve pink etc. Beige, or Satin/semigloss white walls and ceilings is the only way to go. If you do pick a beige from a paint strip with all those colors... find the one you like and then order the one that is lighter than your favorite. Why? It looks great on a 1"x 1/2" chip, but when you put it on a wall it turns to the darker one below the one you like. I suggest picking the 2nd lightest even. You can't go wrong with a hint of beige. Too dark and the room feels small which is why a white is best IMO.​
Another painting 'trick' is if you paint it all white, no problem, but once you throw up a color with a white ceiling inevitably you will roll into the ceiling. The 'trick' is to run a brush along the top of the wall 1/4" away from the ceiling color. You'll never touch the ceiling and you'll never notice the 1/4" from the floor - as long as you can draw a straight line that is!! Oh, and don't be stingy with the paint! My dad used to tell me "Paint with the paint, not with the brush!" because I would wet the brush and try to spread it as far as I could. It's not crayons on paper! Put the paint on the wall and get more paint! And use drop cloths! AND remove the switch covers and tape the plugs fer cryin out loud!! Also door knobs, hinges and light fixtures too. Otherwise, why bother? Nothing looks worse than a happy homeowner paint job.​

The first thing people do when they walk into your house is start placing their furniture. Orange shag isn't the best choice for their lime green couch. Neutral is neutral because it goes with everything!

Another thing is staging. What is that?

Staging is removing everything but the bare necessities. Minimalism. Closets? Remove 3/4 of your clothes so it appears that there's actually room in the closet for their clothes!

Garage? Clear it out even if you have to get a storage facility for a few months.

Roomier rooms. Got a King size bed? Rent a Queen or a Full. Kids rooms a single bed against the wall, or diagonal in the corner and a small dresser.

The bigger you can make it appear (unless it's a McMansion already?) the better the sale will be.

You can hire 'staging' people.
 

wallew

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#47
We sold two homes we owned back in 2016. One in Denver and the other in Keller. Both homes were approx 2500 sq ft.

And in both cases the homes were 'updated' before they were put on the market. But BOTH of them sold BEFORE we actually listed them, because our realtor did their jobs in both instances. In both instances, doing the upgrades was called 'correcting deferred maintenance', which is realtor speak for 'it's all brand new again'. Just before we sold the home we replaced ALL the appliances in the Denver home and we had already recently replaced the A/C in the Keller house and the Denver house. Cost was less less than $5k for the appliances and $10k each for the A/C's and included a new water heater in the Denver house. Most buyers all want brand new for THEIR NEW HOUSE and most of them either do not know HOW to do this or just do not WANT to do this after the moved in.

https://www.realtor.com/realestatea...abash-Cir_Denver_CO_80231_M27409-01682#photo1
In the Denver house, we had done a lot of upgrades done when we moved from Denver to Keller because we thought we might sell it, but given the market was a little soft back in 2011, we just rented it. Five years later, the housing market was much stronger. I included the link because it shows the house in DENVER and they new owners upgrades a lot of things AFTER they bought it. The outside looks the same, the layout on the inside is the same but they changed the interior color from realtors beige that we painted it to mainly white with grey accents. See, regardless of how MUCH work you do, the new owners will want to 'make it their own' and if you have replaced all the appliances as we did, that is a much easier sell, especially if there is NOTHING ELSE wrong with the house. And as I said, it sold BEFORE we listed it. It went up for sale and then was immediately shown as sold.
I like the upgrades the current owners did. Not my tastes, but that OK too.


https://www.realtor.com/realestatea...enwood-Ln_Keller_TX_76262_M75325-32800#photo0
In the Keller house, in the five years of ownership, we did a whole lot of repair to the outside of the house, not really doing a whole lot of improvements inside. UNTIL we decided to sell it. THEN we replaced, floors, repainted the whole house. And like the Denver house, this house was sold BEFORE it went up for sale.
And the pictures you see at that link is EXACTLY how it looked when we sold it.

Yes, it does cost more, but YOU GET MORE. On average, we increasec the amount of money we got from the sale of the house. Generally we increased the amount of profit by at least 30% - 40% after the costs to replace. And we did NONE of the work. Just hired it done and then let them go for it.

So, while we are technically homeless, we have a bundle in the bank and we are attempting to figure out where out LAST home will be. We are still considering Colorado (none of the large cities) or possible Wyoming (western portion where it is in the Rockies), South Dakota or perhaps Montana. Just not sure yet, though we both like the way the governor of South Dakota does her job. THEY NEVER CLOSED BECAUSE OF THE CORONA.

We are currently caring for my mom in West Texas, which is where we have been for the past four plus years. That's another really long story.
 

GoldenPoet

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#48
Some thoughts.. I sold my house in Austin Tx for sale by owner, successfully.


1. Current house is paid for and has no liens.
you could offer a better price to people who buy with no mortgage. cash up front. gold up front.

2. It is in a very desirable working class neighborhood
Then you have a good market of people who would prefer to buy from an owner not use realtors.

3. The house is in decent shape; but needs a fair amount of updating and has little minor issues like funky wiring from being built in the very early 60s.
Make a descriptive and honest list of everything that needs updating to give to prospective buyers.

4. It has a nice sized lot that backs a softball field, probably best lot in the neighborhood.
This is a huge selling point now that people are in lockdowns. put up a sign "Mask Free Living"

1. I have no desire to do any updating myself or managing a project of fixing it.
just paint the really crappy areas. It makes a big difference, is easy to do, and you will get your money
back in the sales price.

4. We don't need to sell it immediately, we'll be waiting until we are all moved out before listing it or selling it.
Waiting to sell until after you move out is definitely the way to go.
Put a good looking sign in the front yard with brochures and your email address.
If you trust the kind of people who come to look, leave access to the backyard and state on the
brochure, "Look around, the backyard is open"

1. Should we seek out a flipper to sell to?
seek out ANYONE who might want it.

2. Do fixer-uppers sell well using a traditional real estate agent?
why would you want to use one anyway?

3. Are there any realistic situations where you partner with a flipper to do the updates and split any additional profits made?
depends how much you like them as a person. I woudlnt do it myself.

good luck!!
 

ttazzman

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#49
lots of good posts........i have one question.......do you fully understand the tax implications if any of the sale of the house? .....such as timeing vs your purchase to avoid cap gains etc....

ok a guess i have another comment......do your homework on home values in your area some realtors will tell you pie in the sky #s to get your listing in our area its become popular for realtors to be contractually obligated to buy your house if they cant get it sold for a prenegotiated discounted price
 
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Ensoniq

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#50
Isn’t It still the first 250k in cap gains tax exempt (500k if married)

But you have to have lived in the house 2 of the previous 5 years o
 
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ttazzman

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#51
Isn’t is still the first 250k in cap gains tax exempt (500k if married)

But you have to have lived in the house 2 of the previous 5 years o
there are one time exemptions and rules time limits etc ....i am not up on them but its something i would want to be well informed on before i started makeing transactions
 

EO 11110

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#52
the OP hasnt posted to this thread since MAY

not that i dont enjoy the conversation :gold:
 

ttazzman

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#53
the OP hasnt posted to this thread since MAY

not that i dont enjoy the conversation :gold:
ITs all Wallew's fault ....LOL....it came up in my "new post" bracket....yep enjoyed the convo not sure we did much to help the OP though thanks for bringing it up ...:don't    know2:
 

specsaregood

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#54
the OP hasnt posted to this thread since MAY

not that i dont enjoy the conversation :gold:
OP has been busting his ass filling dumpsters, cleaning out the attic, packing boxes, and moving furniture — got about 4 generations of crap to deal with. We close on the new house this week, followed by the movers. I’ll be reviewing this thread after this week. Thx all for the input. :bomb:
 

EO 11110

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#55
OP has been busting his ass filling dumpsters, cleaning out the attic, packing boxes, and moving furniture — got about 4 generations of crap to deal with. We close on the new house this week, followed by the movers. I’ll be reviewing this thread after this week. Thx all for the input. :bomb:
sounds like your thread worked out for you :beer:

8 weeks of dumpter filling and furniture moving. are you hugh hefner? dont forget about the 12 year old burried behind the south cabana
 

specsaregood

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#56
¥
sounds like your thread worked out for you :beer:

8 weeks of dumpter filling and furniture moving. are you hugh hefner?
No, just got a business to run, a house full of shit to sort through and a kid to cart around. Plenty to keep one busy. My wife has spent about 35 years in this house and her mom saved everything. Attics in the summer aint no fun.
dont mforget about the 12 year old burried behind the south cabana
funny thing, when i was cracking open my MILs locked hope chest i dragGed out of the crawl space, i joked that we were about to find the dessicated body of my wifes infant brother, but alas we only found shit to throw
Away.
 
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Goldhedge

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#57
No, just got a business to run, a house full of shit to sort through and a kid to cart around. Plenty to keep one busy. My wife has spent about 35 years in this house and her mom saved everything. Attics in the summer aint no fun.
I hope you documented the whole operation with pictures! ...

Not as if you got nothing else to do... LOL!
 

specsaregood

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#58
Thanks for all the suggestions. It was one thing after another with the house while moving out. I finally got it ready to show last week and told the people that had asked about it before it went to market that they would get first crack at it. The first people -- who waited months -- met our asking price as a FSB in as-is condition as they didn't want to risk it getting listed. Its been inspected and all the legwork is getting done by them and their lawyer. so hopefully another 30 days and this ordeal will be over....
 

Goldhedge

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#59
Congratulations!
 

Ensoniq

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#60
Awesome news congratulations

love it when GIM2 people win
 

the_shootist

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Thanks for all the suggestions. It was one thing after another with the house while moving out. I finally got it ready to show last week and told the people that had asked about it before it went to market that they would get first crack at it. The first people -- who waited months -- met our asking price as a FSB in as-is condition as they didn't want to risk it getting listed. Its been inspected and all the legwork is getting done by them and their lawyer. so hopefully another 30 days and this ordeal will be over....
Congrats on the house sale!!!