House buying - What is your deal killer?

[007]

We may be putting our house on the market and the Realtor gave us a short list of things we should do. Some I understand but at least one I don't.

When you enter our house, the first thing you see is a hardwood floor hallway and a carpeted stairwell going upstairs. The Realtor wants us recarpet it because of the color. It is a slate blue. I've never had an issue with it and I've never had anyone who has come into our home comment on it.

Would any of you allow the color of a stairwell carpet dissuade you from purchasing an entire house?

[SenselessChiefsFan]

I have been in real estate 13 years. I am an agent, but the majority of my experience comes from appraising and flipping houses.

#1) Color of carpet does not affect value in an appraisal.

#2) Color of carpet will absolutely make a difference in selling your house.

We can all say that it doesn't matter.... and this and that.... but the reality is that there are two types of homebuyers. The kind that are looking to do some stuff themselves and get sweat equity. And, the kind that just want to move in.

You want the kind wanting to move right in.

This is also different in this housing market as opposed to previous housing markets.

There are tons and tons of foreclosures. And, if a couple is turned off by the color of your carpet, whats to keep them from buying the one down the street that needs new carpet and paint, since it will probably be priced well under yours.

Don't forget to calculate carrying costs when you figure these things. Selling it 30 days sooner will likely get you a return on your investment.

[SenselessChiefsFan]

Originally Posted by Rain Man

This is the perfectly logical approach. However, as someone said earlier, there are a whole bunch of people who really can't envision change, and even if you give them an allowance they won't be able to see the place with a new carpet. That means that you'll pay the cost and you won't get the benefit of a better, faster sale.

If I may be forward, your Realtor may be diplomatically saying that your carpet is old, worn, or dirty, rather than it being the color. Post a picture on here and we'll give you the straight scoop.

Well, two things here. #1) A blue carpet of any shade is not appealing to most homebuyers.

#2) People can envision change. But, a person forms a subconcious opinion of the house as soon as they walk through the door. Especially, when that person is looking to move right into a house, not buy a 'fixer upper'.

Every big compromise they make in their mind makes the offer price go down.

And, there is entrepreneureal profit in ever compromise they make. So, if a repair will cost $600, then they want to get the house for at least $1000.00 less.

And, from the sounds of him renovating so much, it seems less than wise to avoid spending a little more to seal the deal.

[007]

Originally Posted by SensibleChiefsfan

Well, two things here. #1) A blue carpet of any shade is not appealing to most homebuyers.

#2) People can envision change. But, a person forms a subconcious opinion of the house as soon as they walk through the door. Especially, when that person is looking to move right into a house, not buy a 'fixer upper'.

Every big compromise they make in their mind makes the offer price go down.

And, there is entrepreneureal profit in ever compromise they make. So, if a repair will cost $600, then they want to get the house for at least $1000.00 less.

And, from the sounds of him renovating so much, it seems less than wise to avoid spending a little more to seal the deal.

a few thousand more is more than "a little more" We had to stretch our funds to do all that work we had done as it is.

Again, my worry here is that the other house ends up selling before we can get an opportunity to bid on it then we did all this work for nothing. I don't want to turn around and do it all again in 5-10 years just because that is what the real estate market dictates.

[SenselessChiefsFan]

Originally Posted by Guru

a few thousand more is more than "a little more" We had to stretch our funds to do all that work we had done as it is.

Again, my worry here is that the other house ends up selling before we can get an opportunity to bid on it then we did all this work for nothing. I don't want to turn around and do it all again in 5-10 years just because that is what the real estate market dictates.

I absolutely get it. There is nothing wrong with putting it on the market to see if it will sell.

But, blue carpet is a drawback.

It comes down to whether you really want to sell the property. If you do, then change the carpet.

If you are just seeing if you 'can' sell it to buy this other house, you probably won't be able to sell it.

And, the less your agent senses your committment, the less work they will put into it. Being an agent is a comissioned based business. No since working hard for someone who isn't committed to selling their house.

If you are looking to move, now is a great time. Even if you miss the house you are aiming for now, this is one of the best times in recent years to move up in a house.

Oh, and, you may want to think about leasing the property out, depending on your debt to income ratio and if you have other money to put down.

[SenselessChiefsFan]

Originally Posted by Guru

a few thousand more is more than "a little more" We had to stretch our funds to do all that work we had done as it is.

Again, my worry here is that the other house ends up selling before we can get an opportunity to bid on it then we did all this work for nothing. I don't want to turn around and do it all again in 5-10 years just because that is what the real estate market dictates.

How many square feet are you looking to carpet? Call around, and get several estimates. Go into new construction areas and try to catch some of the carpet layers that are there and see if they do side jobs.

You should be able to get it for less than $2.00 per square foot. I usually get it installed around 1.50 per square foot with new pad and everything... and I don't go with the cheapest carpet.

[007]

Originally Posted by SensibleChiefsfan

I absolutely get it. There is nothing wrong with putting it on the market to see if it will sell.

But, blue carpet is a drawback.

It comes down to whether you really want to sell the property. If you do, then change the carpet.

If you are just seeing if you 'can' sell it to buy this other house, you probably won't be able to sell it.

And, the less your agent senses your committment, the less work they will put into it. Being an agent is a comissioned based business. No since working hard for someone who isn't committed to selling their house.

If you are looking to move, now is a great time. Even if you miss the house you are aiming for now, this is one of the best times in recent years to move up in a house.

Oh, and, you may want to think about leasing the property out, depending on your debt to income ratio and if you have other money to put down.

It is either this house or no house. We were not looking and there are no other houses that are a step that we can afford other than this one.

Originally Posted by SensibleChiefsfan

How many square feet are you looking to carpet? Call around, and get several estimates. Go into new construction areas and try to catch some of the carpet layers that are there and see if they do side jobs.

You should be able to get it for less than $2.00 per square foot. I usually get it installed around 1.50 per square foot with new pad and everything... and I don't go with the cheapest carpet.

Went to 3 different stores today and the cheapest we could get for 2 rooms was 1800 installed. Only 600 sq feet too.

[SenselessChiefsFan]

Originally Posted by Guru

It is either this house or no house. We were not looking and there are no other houses that are a step that we can afford other than this one.


Went to 3 different stores today and the cheapest we could get for 2 rooms was 1800 installed. Only 600 sq feet too.

Did you already put a contingency contract on this house?

Also, don't got to any 'stores'. Home Depot, Lowes, Sears.... all will gouge you.

google 'carpet installer'. Look on Craigslist. Look for reviews online if you have questions.

Try to do cash. And, let them know that you will give them cash when the job is done. And, see if they can give you a cash discount. Installers have to pay a processing fee for credit cards. Plus, if you give them cash, they don't have to make a deposit. Everyone likes money they don't have to tell the IRS or their wife about.

I understand the situation. But, if you really want that other house, then make the play for it.

If you can't do it...then you end up with new carpet. But, in this market, you really have to either discount your house or make it really stand out. (in a good way).

I wish you the best no matter what.

[007]

Originally Posted by SensibleChiefsfan

Did you already put a contingency contract on this house?

Also, don't got to any 'stores'. Home Depot, Lowes, Sears.... all will gouge you.

google 'carpet installer'. Look on Craigslist. Look for reviews online if you have questions.

Try to do cash. And, let them know that you will give them cash when the job is done. And, see if they can give you a cash discount. Installers have to pay a processing fee for credit cards. Plus, if you give them cash, they don't have to make a deposit. Everyone likes money they don't have to tell the IRS or their wife about.

I understand the situation. But, if you really want that other house, then make the play for it.

If you can't do it...then you end up with new carpet. But, in this market, you really have to either discount your house or make it really stand out. (in a good way).

I wish you the best no matter what.

It is a foreclosure house and the bank won't accept contingency offers. That really tied our hands. Don't know how they expect to sell it without contingency offers when prospective buyers have to get rid of their house too.

[SenselessChiefsFan]

Originally Posted by Guru

It is a foreclosure house and the bank won't accept contingency offers. That really tied our hands. Don't know how they expect to sell it without contingency offers when prospective buyers have to get rid of their house too.

Lots of buyers either have the ability to buy the house and carry the old one until it sells, or they don't have another house. In some situations, a husband or wife has been foreclosed on, and their spouse buys their next house.

Or, some buy their next house and then just let the previous one foreclose.

Not advising this, just letting you know what is going on in the market.

While unethical, the people in charge of selling that house don't care so long as they can get it sold.

[RJ]

Originally Posted by Guru

We may be putting our house on the market and the Realtor gave us a short list of things we should do. Some I understand but at least one I don't.

When you enter our house, the first thing you see is a hardwood floor hallway and a carpeted stairwell going upstairs. The Realtor wants us recarpet it because of the color. It is a slate blue. I've never had an issue with it and I've never had anyone who has come into our home comment on it.

Would any of you allow the color of a stairwell carpet dissuade you from purchasing an entire house?

As a fellow who has been selling carpet for 30 years I will tell you.....change the carpet.

No one buys blue carpet and your home buyer has no clue what the price to change out carpet will be. They'll imagine it to be much more than it really is. Buy some realtor beige carpet and move on.

Is the carpet on the stairs only or is it upstairs as well?

[RJ]

Originally Posted by RJ

As a fellow who has been selling carpet for 30 years I will tell you.....change the carpet.

No one buys blue carpet and your home buyer has no clue what the price to change out carpet will be. They'll imagine it to be much more than it really is. Buy some realtor beige carpet and move on.

Is the carpet on the stairs only or is it upstairs as well?

Ok, I see now that you need about 600 s/f.

You can probably buy some low end carpet for about $1300 - $2 a s/f plus step labor.

Try a local dealer that carries some roll inventory, they will fix you up.

[hometeam]

The thing I would worry about is that one negative impression of said carpet could put the house in a negative light in general. You know, it could give it a bad 'vibe'

[KChiefs1]

Too many houses for sale not to do what your realtor says to do.

[Chief Pote]

Originally Posted by Guru

The thing I am worried about is that if we change out both areas of carpet we are thinking, we will have to replace all of the other areas too so it doesn't clash as much.

My plan was to pull the carpet off our hardwood floors because they were finished. But, the condition of the hardwood floors was deteriorated enough that they need refinished. So that option got eliminated. As much as I would like to just have them refinished, I can't get the time off work it would take to get them done properly.

I am really getting to the point that, as much as I hate this house we live in, it just isn't worth all the money we will have to soak into it to get it sold right now. We need that money for the house we actually want.

I'd rip up the carpet, clean up the hardwood......no refinishing necessary at this point. You would be surprised how people will like the "vintage" look. I'm really serious.

[007]

Originally Posted by ChiefPote

I'd rip up the carpet, clean up the hardwood......no refinishing necessary at this point. You would be surprised how people will like the "vintage" look. I'm really serious.

Can't it would seriously clash with our brand new hardwood flooring in the kitchen and hallway right next to it.