Don't panic its not me, no one in their right mind would buy this place in the state it is in............mind you we bought it, so I guess there are fools out there!!! Actually I love our house and when we do get it all renovated it will be even more gorgeous.
Dd and son-in-law are house hunting at the moment, as they are getting kicked out of their condo in August. They hadn't planned on buying a house until next Spring but as they say "things happen!!"
Now the only reason I am even mentioning this is they are running into one bidding war after another and it's proving to be a very eye opening experience.
What the houses look like on MLS and what they are actually like in person is night and day it seems. We went with them to look at a couple of houses last Saturday. The first one was a lovely older home (1979) detached and was on sale for $379,900. It was perfect for them, although it did need new windows upstairs and a couple of other things. It went on the market on Friday night, by Saturday night it had four offers in, including one from dd and son-in-law and sold for $390,000 with no conditions. YOU DO NOT BUY A 1979 WITHOUT A HOME INSPECTION!!!!! Dd offer was not the one that won that one.
The second house we visited was a semi on for $349,900 and around 15 years old. It was a house that the real estate agent was selling. It too had just gone on the market and had been staged/cleaned up. It was still filthy to my mind. It needed new carpets right the way through, the layout was all wrong and basically it was horrible, and son-in-law agreed with me. However it was in THE location the kids wanted to be in. The real estate agent wasn't taking offers until the Tuesday, and she got SIX offers and it sold for $380,000!!!
They have made appointments to see various other houses only for them to sell before they get to see them. As I said before a lot of houses look good on paper but are a nightmare in person. They saw two houses the other night that looked really good on paper. The first one stunk of smoke (no offence to any smokers out there, but don't smoke in your house if you want to sell it.) As dd pointed out, all the carpets would have had to be replaced and the whole thing decorated and aired out as it smelled that bad. The place was cluttered and the back yard was all deck, plus there were other things wrong with it. However on paper it looked good?
The other one's owners had done bits of renovations here and there and had not finished things which made for more work, all what you couldn't see on paper, so again not for them.
They are looking at another three today, so fingers crossed they see something that will work for them.
I have never had the "pleasure" of participating in a bidding war on a house, but it's becoming quite common and someone was telling dd that in certain parts of Toronto that the listing house on a is nothing to go by. They currently live in the Yonge and 401 area of Toronto and a bungalow came up for sale for $400,000 it was sold for over 1 million dollars and the buyers are tearing it down and building a mansion on the lot!!!! It boggles the mind how people can afford to do that.
Buying and selling houses have changed so much over the years and people expect to see more and more staging, multi media presentations. My boss just sold his house and the "bound book," that was used to sell his house was stunning. It wasn't a colour leaflet it was an actual book with stunning photos and information about the area the house was located.
Gone are the days when you take a few photos, and hoover and dust the house and hope it will sell. The houses that sell look like model homes, all the clutter removed, decorated neutrally and ready just to move into. Because at the end of the day when a potential buyer walks into a house, it's those first few seconds that count the most, as unless they fall in love with it right away you've lost them.
I'm glad it's not me selling a house that's for sure!! I only pray and hope dd and son-in-law find something soon. As long as they find something by the middle of June they will be fine, so plenty of time yet.