Current Events > Trying to sell our house and move, do you think I could get $100,000?

(+) Yeah! (+)

3 bedroom, 1 bathroom, 900 sq feet and some change, basement and a small yard

We had it appraised when we refinanced, its worth $85,000 and some change, but thats before we did updates (grounded all the outlets, paint, and redid some door jambs), we are also leaving all the appliances: Range, fridge, washer and dryer

We owe $62,000 on it, we would like to get as close to $100,000 as possible, Im about 30 minutes from Pittsburgh PA if that matters

AlBundy33 posted...

3 bedroom, 1 bathroom, 900 sq feet and some change, basement and a small yard

We had it appraised when we refinanced, its worth $85,000 and some change, but thats before we did updates (grounded all the outlets, paint, and redid some door jambs), we are also leaving all the appliances: Range, fridge, washer and dryer

We owe $62,000 on it, we would like to get as close to $100,000 as possible, Im about 30 minutes from Pittsburgh PA if that matters

Depends on a lot of factors. I'm in PGH, if you're 30 minutes north, you've got a good shot. 30 minutes east, probably. South or west tend to be less desirable as far as I know, but I'm not sure entirely. If you're new New Castle, no shot.

warlock7735 posted...

Depends on a lot of factors. I'm in PGH, if you're 30 minutes north, you've got a good shot. 30 minutes east, probably. South or west tend to be less desirable as far as I know, but I'm not sure entirely. If you're new New Castle, no shot.

Washington

Not trying to be mean, but that doesn't sound like it's worth 15k.

If the bank appraised it for 85, I'd say it's unlikely to get a buyer for 100. Especially with interest rising. Not impossible though.

asdf8562 posted...

Not trying to be mean, but that doesn't sound like it's worth 15k.

If the bank appraised it for 85, I'd say it's unlikely to get a buyer for 100. Not impossible though.

Also trying to use the shitty housing market to our advantage, unethical? Probably. Do I care? Not in the slightest, I wish we would have sold when the housing market was even worse, we would have made out like bandits

AlBundy33 posted...

(grounded all the outlets, paint, and redid some door jambs),

Truthfully none of these add value. They would detract and make it harder to sell but no way they add thousands of value to your home. And since grounded outlets have been required since the mid 1960s I wouldnt bring that up since it would make buyers wonder what other required modern safety features arent there.

Eh just ask for the hundred. If nobody bites you can set it lower later.

Psyloshsr posted...

Eh just ask for the hundred. If nobody bites you can set it lower later.

Thats what I was planning on, ask 100, and take the first 85-90k that walks through the door

Even taking the exchange rate into consideration, that is incredibly cheap by Australian standards. My house cost $240000 and even then my house wasnt that expensive compared to most.

wtf a 3 bedroom house here would be like $250,000

Doom_Art posted...

wtf a 3 bedroom house here would be like $250,000

The house Im in the process of buying is twice the size, has a full finished 2 room basement with a bar, 2 bathrooms and 2 driveways, wanna guess Im how much we might get it for?

When was it appraised? If it was pre pandemic, more than likely it should be around 100k even with prices lowering from their highs.

I think you'll have a bit of a tough time getting 100k for it, but that's just because of the combination of the area and the low square footage. 100 per square foot seems to be a bit high for that area, and you'd have to make up for it with build quality or amenities, which given the location I'm assuming isn't it. To be honest, I think you're more likely to get 80-82 for it, and that it's assessed too high for the area, but that's without seeing the house at all, so I'm just basing it on the ba/br and sqft.

AlBundy33 posted...

The house Im in the process of buying is twice the size, has a full finished 2 room basement with a bar, 2 bathrooms and 2 driveways, wanna guess Im how much we might get it for?

is it a number so low that it's gonna make me wanna eat a bullet?

Sounds like the new house would go for about 400-550 in the pittsburgh proper area, depending on the burough. Same house where I grew up would sell for about 125k.

AlBundy33 posted...

Thats what I was planning on, ask 100, and take the first 85-90k that walks through the door

Ask 100, many wont even bother looking.

House across from me had an open house recently. It is priced a little low because of some things that will turn people off (no garage and wallpaper on walls). They had a ton of people show up for their open house. However, they got no offers. Still sitting there.

Current market isn't what the market was when you got the house, 100k should be easy right now.

Give us a Zillow address for a home in the surrounding area, so we have an idea of what houses are selling for.

Here in NJ that house is worth at least $350k.

Absurd.

When was it appraised?
Have there been any comparable house sales near you recently?