Wednesday, January 12, 2011

So, What Ya Gonna Sell It For?!?!?!?!?!?

Funny Story.....we don't know yet...

In an effort to get the word out about our selling of the Chez and to help us figure out a price our Realtor put together a group of Realtors to come look at the house and give us their opinions on what they thought the house could sell for now and what it could sell for when it was finished. Besides what my Realtor comes up with we'll probably average the rest of the numbers to help arrive at a sensible selling price. When I say sensible I mean a price that is as high as it can possibly be but still have us in contract within a month of listing the house.

I put together this list of 'positives' for the Realtors to think about.

1. It’s a legal triplex of ~2858 sq ft with no parking requirements.
2. New foundation-slab where we dug down to give 9’ ceilings on the bottom floor.
3. An extensive under slab drainage system means bottom floor stays bone dry.
4. Earthquake retro-fitting done.
5. Electrical service upgraded to 200amps with 100amp sub-panels on each floor.
6. Natural gas service was upgraded and all the gas lines where re-piped.
7. Warm water radiant heating installed on first two floors. System is set up to also heat 3rd floor. Luxurious, energy efficient heating!
8. Stamped concrete outdoor sunken living room with natural gas plumbed fire pit.
9. New fancy ‘carriage door’ automatic garage door.
10. Custom antique brick driveway and path.
11. All work done with permits.
12. In Franklin School District.
13. 4 Houses down from Little John park.
14. Has tankless water heater installed-Endless eco-friendly hot water.

I was out getting groceries (doing the standard Alameda TJ's and Safeway double play) put arrived at the house just as the tour was ending.

Who should I see walking out of my house but several Realtors who I have reviewed and who have no love for the MadScientist....AWKWARD!!! Even the owner of the brokerage was here....It should be fun to hear their responses...

One Realtor even said that if she were younger she would buy it!!

There are apparently already several all-cash buyer types who are interested in touring the Chez.

I'm wondering if I'm going to see a correlation between Realtors who have all cash buyer clients and their estimate of the properties sensible selling price....

Okay, But Really, What Ya Gonna Sell It For!?!?!?!
Just as an exercise in ridiculousness I'll do the math that most folks seem to do to arrive at a selling price for their homes...
Purchase Price of House- $570,000 (its not like its a secret).
Cost of improvements - $200,000 (would of been a lot more but we did a lot of the work)
So Sensible Selling Price=$770,000 right??? Right???

Ya Right, Don't I wish.

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