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Price in our neighborhood?

1960. New roof. New living room hallway and bathroom floors. New paint in bathroom, kitchen, living room,hallway

Asked by Regina Foshee | Mt Ida, AR| 03-15-2023| 1,165 views|Selling|Updated 3 years ago

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Zoltan PeresztegiReal Estate Agent2 months ago

Regina, I cannot give you a number and neither can anybody else here without an address and local sales data, which somebody already told you. What I can do is something more useful with the list you gave, because those improvements are not all worth the same and knowing which is which will change how you price and how you negotiate. Take them in order. The new roof. This is the biggest item on your list, and here is the honest way it works: a new roof usually does not add value above the market, it removes a deduction. On a 1960s house, a buyer and an appraiser both start by asking what is worn out. A 25-year-old roof is a number coming off your price and a possible problem with the buyer's insurance and financing. A new one takes that entire argument off the table. So do not expect the roof to add its cost to your price. Expect it to protect your price and to speed up your sale, which is worth real money in its own way. Keep the invoice and the warranty and put them out on the counter. New flooring in the living room, hallway and bathroom. This is presentation, and presentation is what gets you offers rather than what gets you appraised value. It matters most in photographs, which is where nearly every buyer decides whether to come see the house at all. Worth having done. Not worth adding a line item for. Fresh paint in the bathroom, kitchen, living room and hallway. Same category, and it is the best dollar-for-dollar thing on your list. Nothing else you can do for a few hundred dollars changes how a house shows this much. Now, what your list does not include, and what I would look at next. The data has been consistent for years that exterior replacement projects return the most at resale. In Zonda's 2025 Cost vs. Value Report, 8 of the top 10 projects were exterior replacements, with garage door replacement first at roughly 268 percent of cost recouped. Your roof is exterior work and it counts. But if the front of the house, the entry door, the trim paint, the landscaping, has not had attention, that is where the next dollar goes. Buyers form an opinion from the curb before they are through the door, and interior paint cannot undo it. One thing specific to a 1960 house that will come up whether you raise it or not. If it was built before 1978, federal law treats it as target housing for lead-based paint, which means when you sell you provide the EPA pamphlet, disclose anything you know, hand over any reports, and give the buyer a 10-day window to inspect for lead unless you both agree otherwise. Most sellers simply disclose no knowledge, which is usually accurate. Just be ready for it. For the actual number, here is what I would ask a Mt Ida agent for, and I would ask for it in this form so you can judge the quality of the answer: three sold comparables from the last six months within a mile, with the adjustments explained line by line, plus the current active listings you would be competing against. If an agent hands you a price with no adjustments shown, that is a guess dressed up as an analysis. I am a real estate professional and I do not work Arkansas, so I have no business giving you a value on your house. My name is Zoltan Peresztegi and I work in Los Angeles, the South Bay and on the Palos Verdes Peninsula. If you want, I am glad to help you find a strong local agent who can actually run those comps. Zoltan

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Keith Jean PierreReal Estate Agent5 months ago

Regina, we would need more details like a physical address, to make this determination. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Diane HoppmannReal Estate Agent7 months ago
Novice1 Answer

it really depends on what the other houses that are similar to yours have sold for in the last six months or so. Things to compare them would be how many bedrooms, garage, corner lot, yeah it was built, etc. A CMA would give you a realistic selling price

Deana DixonReal Estate Agent2 years ago
Novice2 Answers

Did you find an agent?

Michael HudsonReal Estate Agent3 years ago
Rising Star11 Answers

It would be best to locate a realtor local to your house, so they can perform a "CMA" for you. A CMA is a comparative market analysis and will give you a relatively decent idea of what your house is worth.

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