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12
Posts
6
Votes
Travis Hardy
6
Votes |
12
Posts

Trouble pricing house

Travis Hardy
Posted

I have a property that I did major rehab to that I am in disagreement on pricing it. Comps are fairly different in my opinion. Realtor wants to list it 10k less than the number I came up with. I have redone the foundation, all new electric, all new plumbing (PVC to the street), all new kitchen, added a bath, new flooring, all new windows/doors, updated all insulated while walls were open for electrical, new furnace/AC, new siding. It is basically a new house except the roof, which is metal and does not leak). Im trying to tell the realtor that it should be priced in between new build prices and remodeled houses. I did not skimp anywhere as I planned on keeping it and am now looking to sell it. 

Comp 1(Sold 14k less than I want to list at)- 

Things that are worse than mine-Is on a slab foundation and clearly has foundation issues. (Large hump in middle of room plus cracking along drywall), mine has a large basement(cant count as living space due to no egress) old kitchen cabinets, old furnace, old windows(condensation in between panes). On a the main st, mine is on a dead end with only one house past mine. Layout of bedrooms is awkward. It was definitely a "fix and flipper" lipstick job. 

Things that are better than mine- Has garage. Is 3bd/2bath(They are able to count, mine is 2bd/2bath with attic(due to slant of roof cant technically count as bedroom), Small deck.

Same sqft, same lot size, 2 blocks away

Comp 1 is the best and most recent sale.

Comp 2-(Sold at what Im looking to list for)I was not in this house so I'm not as familiar with it. 

+100sqft. 4bd/2bath. carpet throughout house. 

Basically my realtor says because I can count the attic as bedroom and cant count the basement as living space, that I need to price it cheaper. I disagree as the attic would make a perfect bedroom, even though it cant officially be called a bedroom, for a kid and I took all the steps to make sure that there would be no water issues in the basement (Dug drainage along house, added "pond liner" and waterproofing tar along exterior of basement walls). Basement area is another 300sf. 

Any advice would be greatly appreciated. Thanks in advance. 

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