Building, Flipping and Investments in Canon City CO
Potential sellers have been calling lately asking me to come look at their properties. Yeah! I like that! I NEED more listings!
And almost without fail I’m given a tour and told how “this is so much better than it once was, this has been changed, this has been added or about other improvements” Improvements are good – but read on…
What I’m looking for when I go to look at a property is not the curb appeal, I’m not neccessarly looking at the fancy countertops, hardwood or exotic floors, custom window covering. Although these are important. I’m looking for what I things that might be an appraisal snag. What is the appraiser going to say?
Disclosure: I’m not an appraiser, I don’t play one on TV. Don’t think you could pay me enough to be one.
Some things that are going to add or subtract from your properties value:
What the neighbors are getting for their properties? (Comparables)
Roof condition from outside and inside
Torn or broken flooring
Water heater condition
Broken or missing plumbing
Drainage & Gutters
Old or bad wiring (Federal Pacific Box)
You might have the nicest house on the block, neighborhood or in town – Good for you. But if your house has any of the above issues and you want top dollar these things listed above need to be corrected.
You can’t correct the comparables, so don’t over build the neighborhood. If things like granite counter tops aren’t common in your area it’s going to add little if any value to your home. And if granite counter tops are common and you don’t have granite your “curb appeal” or perceived value will diminish. Same goes from hardwood floors, fireplaces, appliances etc…
Recently I was asked to go out and look at a house. It had the best, most exotic stuffs and upgraded everything. The problem so do all the neighbors. This particular house I looked at was ½ the size of every other house with in that part of the county. The problem? The owners want the same money as the neighbors. Essentially, they are asking buyers to pay twice as much for their house and the neighbors. Is it worth every dime they spent – probably, but buyers aren’t going to pay it.
I wish these TV shows would stress the basics in remodeling. Start with a “good foundation” do your home work. Research the comparables in your area before you go to the store. If you want ROI (return on investment) figure out what is going to get you the most “bang for the buck” After the basics are covered
Please contact me to list your home or property. I love listings!
Dena Stevens 719 369-9087