The "After" link is not working. Did it sell?
http://www.estately.com/listings/info/306-center-street--3
Says it is pending.... holy shit, that is crazy.
Based on the "After" pictures, (Thanks, FG) I can see why. People don't want to do the work. Now, if I was working full time and had a couple of little kids, I wouldn't either. DIY isn't for everyone, nor should it be. The problem will be if the appraisal comes in low and the buyers don't have enough cash to close the gap.
- Whoever mentioned paint previously was spot on. We are shopping for our next rental property in a very targeted area. We are waiting for the price to come down on two properties. We know it will, because they are painted shocking PINK inside. Nobody wants them as-is, but DH is a painting contractor by trade. Piece of cake for us. All we have to do is be patient while the market passes them by. We're in escrow on one now that had the same "problem". Very taste-specific colors. It was on the market for over a year and we paid $100k less than the original asking price. It will cost us a couple of thousand to do all the work, but hey, we're willing to and the target buyer in the area isn't. We're not going to flip them, but their increased attractiveness when we're done gets us above-market rents.
- If you're looking at those "After" pictures, notice the hinges in the kitchen. Changing to hidden hinges is a low cost switch that makes a world of difference. The seller missed an easy upgrade there. And people go nuts for self-closing doors and drawers, which are also available relatively cheaply, especially on line.
- Last words: 99Centknobs.com. Really. Got the knobs for the last two houses there.