Flip This House - Number Two

Parent Cafe
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<p>They started at 650k and fell out escrow. The homeowner built a large set of decks and stairs with Trex material. But the stairs are too steep, varying drops and too skinny. Not to code and they aren’t safe. We have to tear out and re do all the stairs. Plus joists under deck are sistered improperly. All will be called out in an inspection.</p>

<p>Their current asking price, dropped on 1/11, is $589k. Has been on market since Sept 2013. Listing agent doesn’t think they will accept my offer because they are stuck on some appraisal they have for $690k.</p>

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<p>I’ve installed exterior fountains to mask outside noise before.</p>

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<p>What are dated 90s granite and cabinet colors?</p>

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<p>^ I hope it’s not cherry cabinets and Uba Tuba, because that’s my whole kitchen.</p>

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<p>Just commenting to say I look forward to the next project so I will be sent updates to the thread as it progresses. Loved the “journey” last time!</p>

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<p>So asking is $589K and you offered $539K. Hmmm. Should be interesting to see what they do. What is your max price?</p>

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<p>Mobile retirees may not be concerned about ADA compliance now, but there are certain things that are impossible to retrofit easily later - like hallways wide enough for a wheelchair to travel comfortably. My parents are dealing with this now, in their lovely, all-on-one-level condo. The were fine when they moved in. Now, 8 years later, they aren’t going to be able to get a wheelchair from the living area back to the bedroom.</p>

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<p>Listing agent got back to me on #8 and they are not accepting my price. They are sticking to their asking p rice and might call me back if they haven’t sold it in one year. They have dropped their asking price several times recently and listing says “Sellers Motivated, Bring All Offers”. Obviously they are not motivated and they don’t want all offers!</p>

<p>House #9
Going to an appointment this afternoon for a property in poor condition but it is on a golf course. I need to investigate the livability of this home and check the location. I’m not very familiar with the neighborhood. It is occupied by renters, so I can’t just crawl through the place as I usually do (under crawlspace, attic, etc.)</p>

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<p>Yes, unfortunately… cherry cabinets and Uba Tuba date homes to the 90s. Don’t get me wrong… I love solid Cherry Cabinets (that have not been stained dark) that age beautifully. But, if you look through current kitchen design magazines you will see that brighter whiter kitchens are more popular now. It doesn’t mean that I am going to tear it out, they will probably be fine for the retiree market. But, if I am targeting a different price range and a younger market the kitchen may have to be updated to get top dollar.</p>

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<p>I have a white kitchen. Can’t stand it. Who has time to wipe off fingerprints and drips on a daily basis? Guess this means our master bath update will be dated before we ever start – we were replacing white with dark cherry.</p>

31

<p>I just did my new kitchen all white and I love it. It’s still in that honeymoon stage when I wander around with a damp cloth and lovingly rub my cabinets, though. But it does look wonderful – nice and bright and happy.</p>

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<p>Guess I’m always out of step. I had a white kitchen in the '90s and when we had to sell due to a relocation, I was told it was “dated.” That kitchen was less than two years old. We have a combination of very dark stained wood and light cream painted & glazed wood in our current kitchen. I am so looking forward to a white kitchen in our next (and hopefully last) house.</p>

<p>Coralbrook, what sort of counters are popular in your area now? I love both quartz and recycled glass, but RE agents in our area still tout granite in every price range. </p>

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<p>A white kitchen is never dated: it is classic, especially in an old house. I suppose it is possible for the cabinet style to be “dated,” especially if it is one of those “modern” whites with wood trim. But personally I hated them and the whole Euro-modern look from the get-go.</p>

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<p>My cabinets are white and I have not cleaned them once apart from when we first moved in over a year ago and they look immaculate. I really wanted white cabinets and this was the only house we looked at that happened to already have them. I love them. The previous owners hated them and wanted dark cherry but put in white because the kitchen is small and they thought it would make the kitchen feel roomier, they were probably right.</p>

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<p>My husband is currently updating his parents’ condo for resale. They moved into assisted living in 2012 and had a renter for a year. They and sister-in-law originally wanted to put the late 80’s era condo up for sale as-is, with a carpet allowance, but H convinced them that was a bad idea. He’s an engineer by day and enjoys home remodeling in his off hours. He put 10k into my mother’s condo and it sold quickly in a down market while other non-updated units languished on the market. This is his winter project, targeting a March listing. </p>

<p>His concern was a low-ball offer and a quick flip with someone else making the profit. </p>

<p>The condo is located in the downtown area of a small city. It has water/island/mountain/ferry views. Two BR with en-suite baths and a 1/2 bath near the entry. Open kitchen/living-dining area, laundry room, storage in-unit and downstairs, large deck, very large 2 car private garage, accessible by interior and exterior stairs and elevator. It’s an 8-unit building with an elevator. </p>

<p>The area is popular with empty-nesters, so the updates are being done with them in mind. He’s had a couple of market analyses done by reputable agents used to marketing condos in the neighborhood, in order to gauge costs vs profit. The trick is to counter his natural inclination to go high quality with what buyers are liking at a reasonable price. </p>

<p>Flooring: carpet will be replaced by engineered hardwood and tile in the bathrooms</p>

<p>Kitchen: replace appliances, wine fridge instead of trash compactor, neutral granite replacing laminate with a two-level island raised to one level, cabinets refinished. </p>

<p>Bathrooms: get rid of carpet, replace 2 of 3 toilets, take wall-wide mirrors off and replace with framed over sinks, new vanities & sinks/granite counters (raised to a reasonable height), deal with surface-mounted medicine cabinets, replace shower door in master. </p>

<p>Paint throughout, including molding. Some interior door replacement. The woodwork is all that pickled wood finish with blue undertones. Very, very 80s. </p>

<p>Replace tile surround on gas fire with matching granite and add a mantle. </p>

<p>His budget is $25K, planning to spend less. He is donating his labor. The competition are newer units/buildings, but with the updates and the pluses they have in view, HOA dues, garage, etc, the plan is to recover the spend and more - market assessment is that’s well within possible. </p>

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<p>For resale, you can never go wrong with granite counter tops. But dark granite is very ‘out’ right now. However, the younger market (in our area) really loves the quartz and the recycled glass. You have to be careful with the quartz countertops because they have a square edge and they have to sit tight on top of the cabinets - the lip is very shallow and doesn’t cover up plywood on top of the cabinets very well. I definitely would not do quartz or glass countertops on cherry or oak cabinets, it wouldn’t look right. Or on top of old arch-style cabinet doors (even white). Also, quartz and recycled glass countertops cost a lot more than granite.</p>

<p>I absolutely love the cream colored cabinets with the glazing, one of my favorites. But that type of cabinet needs granite, you can’t do the modern quartz style counter tops.</p>

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<p>Sounds like your H has a great plan. I will be amazed if he can do it all for under $25k, more power to him. He should definitely get rid of the pickled woodwork - really dates the place. Tell him he can get some great frameless shower doors right off the shelf at Home Depot.</p>

<p>P.S. - replace all the toilets if you can… buyers love to know that the toilets are brand new and never used - just don’t tell them that the construction crew have been using those new toilets for a couple of months :)</p>

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<p>Our white cabinets are thermofoil (cheap reno by previous owners) and need cleaning constantly. Too many slobs live here.</p>

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<p>The thermofoil is horrible. It was very “IN” mid 90s – and it’s what’s in my kitchen that we WILL be redoing this year. Twenty years out, it’s faded to all different white/yellow/greys despite having some replaced in the late 90s. And now it’s peeling. UCK! Painted cream with glazing here we come – with a contrasting island, creamy/gold/brown granite counter tops and a tile backsplash with stainless appliances.</p>

40

<p>OK, week 1 of house shopping is done and I am 0 for 8. </p>

<p>Inspected #9 on Saturday afternoon and it was in poor condition. Very small 1945 home with 2/1 upstairs and a basement below with 1 bedroom and 1 bath. Technically retirees could use 2 car garage and live upstairs, but very small square footage and old fashioned hall bath. Little house has gorgeous views over golf course and local mountains, but there is freeway noise in back yard. I just didn’t like it that much.</p>

<p>There was a young helper agent at the appointment and about 8 interested parties went through. The guy told me I needed to send him email immediately with my questions and proof of funds. I wasted time on Saturday evening sending him all my questions and information and he has not even returned my email. At least send me a confirmation that you got my email for heavens sake! Losing interest in this one.</p>