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nonamesleft

join:2011-11-07
Manitowoc, WI
Reviews:
·Comcast
·Callcentric

Do 1 bdrm houses sell well?

Anyone a professional in this kind of stuff? I am looking to move soon and worry I maybe stuck in the place waiting for it to be sold. I also considered walking away from it too, not really an option unless I win the lotto and can buy a place completely.


guppy_fish
Premium
join:2003-12-09
Lakeland, FL
kudos:1
Reviews:
·Verizon FiOS

One, darn near impossible and two bedroom homes are very hard sells, very limited market. In general, if someone has the $$ to buy a home, they will want at a minimum 3 bedroom.

That said, any home can be sold, its just a matter of price. Have a couple local real estate company's take a look and give you a market price



CylonRed
Premium,MVM
join:2000-07-06
Bloom County
reply to nonamesleft

Usually very difficult - one bath houses are also difficult - but it can be marketed to a single person or to retirees and you may gegt lucky. Unless you don't have many of either...

Are you going to be moving far away - maybe used as a rental?
--
Brian

"It drops into your stomach like a Abrams's tank.... driven by Rosanne Barr..." A. Bourdain



nonamesleft

join:2011-11-07
Manitowoc, WI
Reviews:
·Comcast
·Callcentric

said by CylonRed:

Usually very difficult - one bath houses are also difficult - but it can be marketed to a single person or to retirees and you may gegt lucky. Unless you don't have many of either...

Are you going to be moving far away - maybe used as a rental?

No, just the next closest city. I thought of doing that, but just want to be rid of it.


OZZY7
Born Again Atheist
Premium
join:2011-06-11
reply to nonamesleft

IDK, small homes are actually pretty trendy right now.
--
You Can't Kill Rock 'n' Roll!



nonamesleft

join:2011-11-07
Manitowoc, WI
Reviews:
·Comcast
·Callcentric

said by OZZY7:

IDK, small homes are actually pretty trendy right now.

Im counting on that, and it being in a good part of the city, I hope I have a chance!


The Pig
I know you want to be me
Premium
join:2009-09-11
reply to nonamesleft

One bedroom is hard!
Most people now want three bedrooms and two baths with a garage!
Some settle for two bedrooms and two bathrooms!
Big closets and lots of storage areas are a must!

You can put it up for sale to see if it will sell, and if you don't want to sell it refuse the offer on it, if you get one!



nonamesleft

join:2011-11-07
Manitowoc, WI
Reviews:
·Comcast
·Callcentric

said by The Pig:

One bedroom is hard!
Most people now want three bedrooms and two baths with a garage!
Some settle for two bedrooms and two bathrooms!
Big closets and lots of storage areas are a must!

You can put it up for sale to see if it will sell, and if you don't want to sell it refuse the offer on it, if you get one!

In my opinion I was a dumb first time home buyer with not a lot of time. 54,888 was the price. It has 1 car garage with a patio area and a decent yard. The neighbors are more annoying then the busy street!


tschmidt
Premium,MVM
join:2000-11-12
Milford, NH
kudos:9
Reviews:
·G4 Communications
·Fairpoint Commun..
·Hollis Hosting
reply to nonamesleft

I tend to agree with the others that one bedroom is a problem.

But a lot depends on the local market. Maybe you have an older demographic that is looking to downsize. Here in my neck of the woods you would be hard pressed to find a build-able lot for that price.

The only way to know for sure is to talk to a Realtor.

/tom



dvd536
as Mr. Pink as they come
Premium
join:2001-04-27
Phoenix, AZ
kudos:4
reply to CylonRed

said by CylonRed:

Usually very difficult - one bath houses are also difficult - but it can be marketed to a single person or to retirees and you may gegt lucky. Unless you don't have many of either...

Are you going to be moving far away - maybe used as a rental?

I have a few rentals that are 1BR / 1BA that i got dirt cheap fixed em up and rent out.
no plans to try flipping them as long as they're generating cash flow.


jjoshua
Premium
join:2001-06-01
Scotch Plains, NJ
kudos:3
reply to nonamesleft

You bought one, right?



nonamesleft

join:2011-11-07
Manitowoc, WI
Reviews:
·Comcast
·Callcentric

said by jjoshua:

You bought one, right?

Yep, I already confessed earlier. You interested in buying?

tcope
Premium
join:2003-05-07
Sandy, UT
kudos:2
reply to nonamesleft

Keep in mind _why_ it's a problem... because the amount of people it appeals to is a much smaller percentage. You need to know who your market is and this has a lot to do with the area the home is in.

I'd say the people likely to buy the home is either a couple that is looking for their first home and can't afford much of anything or a person who simply does not want a lot to keep up (perhaps someone who travels).

Look for a Realtor who knows how to market these types of homes. Clean up the home and set it up so that it looks bigger then it is or appears to these types of people. Talk to the Realtor about what you can do to sell the home more quickly (actually, you should be sitting down with a _few_ and quiz them (interview them) before signing on the dotted line). Try to sign on for just a short amount of time with them.

I watch those shows on TV about people who can't sell their homes and I've looked at homes. People have purple walls, don't clean up, etc. Um... you are trying to SELL something! IMHO you just need to try a little harder to pull in that smaller market.



nonamesleft

join:2011-11-07
Manitowoc, WI
Reviews:
·Comcast
·Callcentric

said by tcope:

Keep in mind _why_ it's a problem... because the amount of people it appeals to is a much smaller percentage. You need to know who your market is and this has a lot to do with the area the home is in.

I'd say the people likely to buy the home is either a couple that is looking for their first home and can't afford much of anything or a person who simply does not want a lot to keep up (perhaps someone who travels).

Look for a Realtor who knows how to market these types of homes. Clean up the home and set it up so that it looks bigger then it is or appears to these types of people. Talk to the Realtor about what you can do to sell the home more quickly (actually, you should be sitting down with a _few_ and quiz them (interview them) before signing on the dotted line). Try to sign on for just a short amount of time with them.

I watch those shows on TV about people who can't sell their homes and I've looked at homes. People have purple walls, don't clean up, etc. Um... you are trying to SELL something! IMHO you just need to try a little harder to pull in that smaller market.

Lol...I am amazed by people on those shows that complain about wall and ceiling colors. Its stupid and they don't own it! I would offer some extra money to go towards paint, so the buyers can buy whatever shade of bland white they want!

tcope
Premium
join:2003-05-07
Sandy, UT
kudos:2

said by nonamesleft:

Lol...I am amazed by people on those shows that complain about wall and ceiling colors. Its stupid and they don't own it! I would offer some extra money to go towards paint, so the buyers can buy whatever shade of bland white they want!

I think you are talking about the people buying the home and complaining about the colors. Yeah, I agree... they need to know you can.... paint over it!

But it also raises the point that some people _don't_ think about that.... and who are you trying to sell the home to? That one out a thousand that likes purple walls? The other 999 people you don't mind turning off? Those buyers _are_ idiots.... but (and this applies in your case) you need to appeal to those idiots.


nonamesleft

join:2011-11-07
Manitowoc, WI
Reviews:
·Comcast
·Callcentric

said by tcope:

said by nonamesleft:

Lol...I am amazed by people on those shows that complain about wall and ceiling colors. Its stupid and they don't own it! I would offer some extra money to go towards paint, so the buyers can buy whatever shade of bland white they want!

I think you are talking about the people buying the home and complaining about the colors. Yeah, I agree... they need to know you can.... paint over it!

But it also raises the point that some people _don't_ think about that.... and who are you trying to sell the home to? That one out a thousand that likes purple walls? The other 999 people you don't mind turning off? Those buyers _are_ idiots.... but (and this applies in your case) you need to appeal to those idiots.

Unfortunately your absolutely right, I am one of those bold color people that can't stand a white wall. Thats how rentals are with white walls! Maybe a gray type of color I could put up with, but any white or off white no way.


psafux
Premium,VIP
join:2005-11-10
kudos:2
reply to nonamesleft

With any type of home there is a target market. One purpose of a realtor is to help determine that market & find ways to reach out to them.

I can think of several groups of individuals who might be interested in a 1br home. Location may play a more significant factor than usual since 1br homes are not typical. Pricing will be a huge factor too. If a buyer can spend the same amount of cash and get more house, they are going to in most cases depending, again, on location.

Renting is an option if its viable. If you are counting on the house sale for the down payment to jump into a new home, obviously that isn't going to fly.

It's still very much a buyers market in the real estate world. Your house is probably worth half to 3/4 what you think it's worth assuming it needs no major work. Getting it appraised before listing it would be a good idea so you know a lowball when you see one. Pick a realtor who works for you and who genuinely wants to help you get what its worth. There are those that do minimal work and urge the seller to sell at the first lowball that comes in so they can get their cut and move on. If you are selling privately, you have a whole different set of headaches to look forward to.

Good luck!



jjoshua
Premium
join:2001-06-01
Scotch Plains, NJ
kudos:3
Reviews:
·Verizon FiOS
reply to nonamesleft

said by nonamesleft:

said by jjoshua:

You bought one, right?

Yep, I already confessed earlier. You interested in buying?

Would you sell it for $10,000?


CylonRed
Premium,MVM
join:2000-07-06
Bloom County
reply to tcope

quote:
they need to know you can.... paint over it!
Easier said than done for some colors, some people don't have the time to put 7 coats of paint over a really dark color.

Paint has gotten better but some of the colors I have seen and would need top paint over many times - no thanks. I have enough color issues when paining (I basically can't paint more than one coat due to color vision issues).
--
Brian

"It drops into your stomach like a Abrams's tank.... driven by Rosanne Barr..." A. Bourdain


dvd536
as Mr. Pink as they come
Premium
join:2001-04-27
Phoenix, AZ
kudos:4
reply to nonamesleft

said by nonamesleft:

said by tcope:

said by nonamesleft:

Lol...I am amazed by people on those shows that complain about wall and ceiling colors. Its stupid and they don't own it! I would offer some extra money to go towards paint, so the buyers can buy whatever shade of bland white they want!

I think you are talking about the people buying the home and complaining about the colors. Yeah, I agree... they need to know you can.... paint over it!

But it also raises the point that some people _don't_ think about that.... and who are you trying to sell the home to? That one out a thousand that likes purple walls? The other 999 people you don't mind turning off? Those buyers _are_ idiots.... but (and this applies in your case) you need to appeal to those idiots.

Unfortunately your absolutely right, I am one of those bold color people that can't stand a white wall. Thats how rentals are with white walls! Maybe a gray type of color I could put up with, but any white or off white no way.

First thing i do assuming the home is in livable condition is to throw neutral colors on the walls. I'll allow the tenant to "make it their own" if they're willing to sign a two year lease instead of a one year. any upgrades they do and pay for stay when they move out.


dvd536
as Mr. Pink as they come
Premium
join:2001-04-27
Phoenix, AZ
kudos:4
reply to CylonRed

said by CylonRed:

quote:
they need to know you can.... paint over it!
Easier said than done for some colors, some people don't have the time to put 7 coats of paint over a really dark color.

Paint has gotten better but some of the colors I have seen and would need top paint over many times - no thanks. I have enough color issues when paining (I basically can't paint more than one coat due to color vision issues).

Have you seen those new primered paints that coat over darker colors with one coat?
Expand your moderator at work


nonamesleft

join:2011-11-07
Manitowoc, WI
Reviews:
·Comcast
·Callcentric
reply to dvd536

Re: Do 1 bdrm houses sell well?

said by dvd536:

First thing i do assuming the home is in livable condition is to throw neutral colors on the walls. I'll allow the tenant to "make it their own" if they're willing to sign a two year lease instead of a one year. any upgrades they do and pay for stay when they move out.

I didn't say I was planning on renting it. I was trying to say thats what color rentals are inside, plain white.

guppy_fish
Premium
join:2003-12-09
Lakeland, FL
kudos:1
reply to nonamesleft

Contact some local realtors, they will have all the answers your looking for on market value and typical time-on-market for property like yours



kontos
xyzzy

join:2001-10-04
West Henrietta, NY
reply to nonamesleft

said by nonamesleft:

Anyone a professional in this kind of stuff? I am looking to move soon and worry I maybe stuck in the place waiting for it to be sold

At the right price, any habitable house without liens can be sold quickly.

Critsmcgee

join:2011-12-02
Reviews:
·Verizon FiOS
reply to nonamesleft

Location is a big part of anything in real estate. If the one bedroom is on the water you'd have no issues selling it. If it's just a one bedroom in the middle of no where then price is the only option you have to sell it. Drop the price to a point where someone wants it and it will sell. Another option if it was a multiple unit place is try to buy another unit next to it then add a door. Now you have a 2 bedroom unit.


itguy05

join:2005-06-17
Carlisle, PA
reply to dvd536

said by dvd536:

Have you seen those new primered paints that coat over darker colors with one coat?

They don't. Trust me, I know. They get close but no cigar - you still need 2 coats.