How much to prep house for sale?

[photoguy]

We're in the middle of prepping our house for sale and we've interviewed several real estate agents. All of them recommend having a home inspection first. Two main reasons: (1) to ensure a smoother close processes so that nothing comes up unexpected when the buyer is able to walk due to contingencies, (2) if you get multiple offers, once you've selected a winner you may have less leverage if they want to negotiate the price downward.

I'm not sure how much of this is due to our area (san jose). But you definitely even hear of sales where people make offers without inspection contingencies (presumably they rely on the homeowner's inspection). Currently months of inventory is less than 1. I'm told normal inventory is 6 months.

Also a big thank you to katsmeow for her very informative post at the beginning of the thread.

 

[Free To Canoe]

So some random thoughts:

1. Buyers as a group have no imagination. Not only can they not imagine a house with a new carpet, they can't imagine a room painted a different color and so on.... .

Should have replaced that carpet! Would a could a should a...

Good post.

 

[Accidental Retiree]

Apparently wood-look laminate flooring is becoming more and more acceptable, at least in my area. It is by no means a fancy 'hood. Houses are 50+ years old. SF East Bay area.

I visited an open house today near my home. It is listed at 769k and it had laminate throughout except for tile in the entry and baths.

They also put nice granite and cabinets in the small kitchen, stainless, and had crown moulding and neutral paint. The bathrooms were updated but not to the same level. More easily identifiable basic Home Depot stuff.

They also changed the front elevation and re-stuccoed.

I was surprised to see, though, a very battered and stained garage door and dirt lots in front and back. NO landscaping, just a few potted plants set around. Maybe they do not expect people to look at the outside.

Weird -- it was flipped and I guess to make their profit, putting in sod or shrubs would have blown their budget.

I find it hard to believe anyone would pay that much for a house in this neighborhood. And no hardwood!

;-)
We'll see.