Craphole apt needs work to sell, invest yes, no?

> and almost a deal at $170K, which fell apart cause male buyer willing to do the work found something nicer

Doesn't that tell you everything you need to know?
It means your apt is overpriced at $170k. Period.
If you've had two offers at $160k, counter-offer with $167k.
Take $165k, and count yourself lucky, b/c it's not worth $170k.

Two "admitted" low ball offers from people who are looking to fix and flip doesn't dictate the price in my book. The $170K was within a breadth of going to contract and I believe that was a timing issue. Maybe male buyer found something "Nicer" that was $10K or $15K more and didn't need work. I'm not trying to profit from putting in work, just appeal to a bigger audience, get my investment back and move the unit.

I've had 8 women 25-30 years of age show up with there parents, bldg, square-footage, price range are all correct for them, it's the unit that isn't.

Some people come here, pose a question, have a decision made in there head already and refute all responses that don't agree. I'm not doing that, I just don't think you have an answer either way on the question, but thanks.

If you haven't already, maybe just empty the apt and do a simple cheap (all white) paint job. Hire a cleaning service to deep clean the apt. I think all that takes a lot less than 10k and would make the place a lot more appealing.

Tallisman: OK Mr. "Move The Unit" your problem is not the condition of your apartment but a persistent false belief regarding its value despite indisputable evidence to the contrary. You don't get to choose the selling price, the market does. Listen to what it's telling you and quit wasting everybody's time. Who gives a rats ass if it's women, men, gays, straights, blacks, Russians, or Canadians that are puking on your balcony, it's clearly a piece of shit and by showing such garbage you deserve everything you're getting right now. Tell me, does your add say "craphole?"

ugh, i wouldn't invest the time, energy, or money. listen to your wife and Sunday and see how it shakes out.

As long as you understand that, as is, it's not worth $170k (as the market has clearly dictated).

But yes, I'd invest the money to fix the place up, and appeal to more buyers. You can have new paint and rugs inside of a week. At the very least, those 2 are a no-brainer.

Agree with Sunday that painting might be worth the investment. It would freshen the place up and get rid of some of the stale smoke smell. Also, if the window treatments are old and heavy or discolored just get rid of them. If there are prominent grandmotherly light fixtures consider replacing with something cheap but simple from Lowes or Home Depot. And have someone shampoo the carpets. Then you'll be putting your best foot forward without spending much and you won't have to wonder if buyers are staying away because they're grossed out.

The fair market value is the price at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or to sell and both having reasonable knowledge of relevant facts.

This is a very simple definition of market value that many sellers choose to ignore. Instead, they invent a value based on their own history, financial or emotional, and despite evidence of what their property is worth. (offers) And that attitude prevents transactions from taking place.

Wow, some sudden converts here to the "buyers are totally rational" club. LOL.

Spinnaker, you got a whole bunch of pent up something, that has little to do with this board. It's a shame to see someone with an advanced stage of the nasties. Unit has been fully cleaned, everything is out, except for big pieces of original furniture for staging. Is consensus to get everything out and show it bare, except for kitchen table and chairs which are nice? Sounds like a good carpet cleaner and white paint job are way to go and not a penny more. Thanks for the advice.

Hey movetheunit, you market a craphole that people can't even stand to be in then come here expecting warm hands to embrace you and your delusional valuation? Did I offend you like maybe you have offended those young ladies on your balcony? Go suck an egg and best of luck with the sale!

I got a crappy apt which can be sold, your problem, not so simple.

Try the entomologists anonymous newsletter, you might get a few bites there. You're welcome. Oh, and it's "move the unit" not "can be sold" moron.

Tali, you're just muddying the waters here by responding to spinnaker so cool it & concentrate on gathering the information you seek.

What would the unit sell at if you replace the heating/air unit, put in new carpets & painted & GET RID OF THAT DISGUSTING SMOKE SMELL? Most people just want a move-in ready residence so why not rehab it now & increase your pool of buyers?

When someone is as disdainful of potential buyers as you sound, Tallisman, and then wonders why he can't get a deal done, I think a little snarking is in order. Clean it up and sell it for $165k if you can. The longer it sits the more stale your listing is going to appear, and the more lowball offers you're going to get.

concur w/Sunday & uws, eynyc, clean it big time as if you are about to set up a surgical suite, paint it some decent quality Linen White like color, patch holes and try again.

Thanks romary, that's exactly what I'll do.

Paint is the cheapest and quickest way to make a difference.
If you are really losing 70% of your customer base, youmay need to do something.

To get rid of most smells, hit the walls with bleach.

Home depot has a honeywell HEPA air filter for about $120 and it will suck out the smell so fast it will make your head spin. I had 2 heavy smokers in my unit, and within 2 hours of turning the unit on high, the whole place smelled fresh. Non-smokers entering the unit didn't even notice a smoke smell. Here's the model, find it on Home Depot site:

Model # 17005 Internet # 100014827

It's amazing. Then a couple of those automatic plug in air fresheners ($20) and you're set.

If it desperately needs new carpet, get a written estimate, a few swatches to choose from, and display them nicely in the unit. Buyers will not have to think, they will know the cost and who to call, plus they pick their own color. If they want to take it out of their offer, that's their choice.

THE LESS THINKING A BUYER HAS TO DO, THE BETTER!

Don't put new carpeting in. I agree with needsadvice--you should instead get samples and estimates because the buyer likely won't have your taste or select your quality level. Deep clean the kitchen, to get at any tobacco film, then prime and paint the place a nice, bright Linen White or Dove White to freshen the look and improve the smell. Get yourself a Glade plug-in if the carpeting and/or furnishings leave a lingering oder.

Why are there no Staten Island one bedrooms listed on SE between $150k and $200k?

PMG, I'm not sure why it doesn't show up on SE, it's on realtor.com.

And, beware that potential buyers will still know that there was some sort of funky smell in place. As a devotee of open houses, nothing makes me sniff around for weird smells like obviously shampooed carpets and air fresheners; they are dead giveaways that a smell is lurking somewhere. So be prepared for buyers who ask about smells despite sprucing efforts. You're not trying to fool anyone, just to present the apartment in a way that is more appealing and helps them see past the flaws to the potential.

You can probably re-carpet the entire place for $1500. This is much more powerful than a bunch of swatches. Get a neutral color. In fact, get white, it shows wonderfully, and you won't be living there.

DVR a couple episodes of "sell this house". A little work can go a long way. If the furniture you have in there is old or contributing to the smokey smell, get it out of there. A lot of buyers really do have trouble getting beyond small things that would be cheap to fix, like dirty walls. Another thought- is the apartment well lit? That can also contribute so maybe pick up some extra lighting.

drdrd, nice to see you back!

I would definitely get rid of the "heavily smoked in" smell. I looked at one apartment where the current owner was an exercise freak and the apartment smelled like a gym. Good for the owner's health, bad for sales.

Wouldn't bother with popcorn ceiling - big project, but as many suggested here, painting the entire apartment is usally a good investment. The buyer will probably repaint, but the apartment will show much better for a fairly small investment.

Also, I would repair the ac/heat unit if it isn't too costly. You want the apartment to look reasonably well-maintained. Otherwise, buyers will deduct that expense from an offering price.

If the floors under the carpet aren't too terrible, you might consider taking up all the carpet and leaving bare floors. The next owner can have the option to replace or refinish the existing floors or put in new carpet.