Agent urged us to underprice our house now we regret it

[Anonymous]

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Anonymous wrote:Are you sure it’s not priced correctly? Do you really think you’d get more offers if it was priced higher?

Yes a very similar house same layout a few doors down sold for 75k over our list price last month. That one has a bonus screened in porch so we mentally discounted 25k from what we would expect

A screened porch costs $40k bare bones.

It’s a very small one so we thought 25k was reasonable

I’m pricing a small screened porch now. Starts at $40k.

+1. I don’t think the folks saying $20 live in the DC area or have built anything lately.

Agreed. $15K buys you a deck in DC and surrounding area.

-2. Literally just last week we had a slate patio (20x20) installed in our Del Ray backyard for $8400. Our across the street neighbors had a mudroom/ back porch added for 18k.

You people must be the suckers that keep Harry Braswell in business.

I agree. DCUM is filled with suckers that overpay on household improvements all the time. It is crazy. If you spend the time talking to contractors and reading reviews it works out. But don't hire the contractor driving the pricey car and ridiculous prices.

Patios are much much cheaper than decks FYI, since decks are raised structures requiring footings. Patios are ground level and require no foundation

If anything- unless the patio was considerably large (which is not likely since we are talking about del Ray), that poster overpaid for her patio.

Yeah they essentially just laid down stones for a patio, and that cost 8K. A screen in porch requires footings, structure, and wiring as well as the roof and shingles. From their price, it sounds like the foundation would cost 8000 just to begin with.

PP says neighbor got porch and mud room for $18k. That’s seems more reasonable. My friend in DC paid $25k for huge sunroom with skylights. I paid $125k for a 2 level 700 square foot addition most DC contractors and neighbors say would cost me $300k minimum. I am always dumbfounded by the price people pay in DC. $75k kitchens etc. Paying $30k for an architect that I paid $4k for.

So majority of contractor said addition would be $300k, and you found someone to do it for $125k? Permitted and inspected? With licensed subs? Please recommend. In Nova, permits alone can be $25k for an addition, is that is amazing.

sounds really sketchy, or poster is not in DC area

[Anonymous]

Anonymous wrote:My agent did this to me, OP, except she convinced me to list 50k lower than I wanted and then brought me a buyer through a pocket listing (someone using her same agency) the same day. I was stupid and agreed with it. Yes, I got screwed because I never even got the possibility of competing bids. When a nearly identical house one street over sold for $50k higher the next month (April versus May) I was furious.


This isn’t what happened to you. The open market has spoken.

Wow! Hugely unethical.

[Anonymous]

Yeah, I’m calling BS on a fully permitted, properly wired, etc. porch and mud room.

[Anonymous]

Anonymous wrote:Yeah, I’m calling BS on a fully permitted, properly wired, etc. porch and mud room.

For 18k that is.

[Anonymous]

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Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Are you sure it’s not priced correctly? Do you really think you’d get more offers if it was priced higher?

Yes a very similar house same layout a few doors down sold for 75k over our list price last month. That one has a bonus screened in porch so we mentally discounted 25k from what we would expect

A screened porch costs $40k bare bones.

It’s a very small one so we thought 25k was reasonable

I’m pricing a small screened porch now. Starts at $40k.

+1. I don’t think the folks saying $20 live in the DC area or have built anything lately.

Agreed. $15K buys you a deck in DC and surrounding area.

-2. Literally just last week we had a slate patio (20x20) installed in our Del Ray backyard for $8400. Our across the street neighbors had a mudroom/ back porch added for 18k.

You people must be the suckers that keep Harry Braswell in business.

I agree. DCUM is filled with suckers that overpay on household improvements all the time. It is crazy. If you spend the time talking to contractors and reading reviews it works out. But don't hire the contractor driving the pricey car and ridiculous prices.

Patios are much much cheaper than decks FYI, since decks are raised structures requiring footings. Patios are ground level and require no foundation

If anything- unless the patio was considerably large (which is not likely since we are talking about del Ray), that poster overpaid for her patio.

Yeah they essentially just laid down stones for a patio, and that cost 8K. A screen in porch requires footings, structure, and wiring as well as the roof and shingles. From their price, it sounds like the foundation would cost 8000 just to begin with.

Footings. lol. A bag of quickcrete and an 8' 6x6 costs $100. Four hundred bucks and a post hole digger gets your your 'foudation'

Slate is about 100x the cost of PT and it isn't just 'laying down some stones' as some other ignorant housewife claimed. Unlike decks, patios require you to grade (expensive- includes heavy machinery), you have to cut the stone, lay a concrete base -in forms you've set- and carefully maintain enough of a slope so rainwater doesn't pool and compromise the patio.

Whoever said decks are cheaper knows absolutely nothing about construction. A 400sqf deck weighs a miniscule fraction of the same in slate. Plus it lasts about 1/4 of the life.

Did it ever dawn on you why slate costs much more than PT? Or why all the multi-million dollar houses have slate patios and not crappy decks?

[Anonymous]

Anonymous wrote:

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Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Are you sure it’s not priced correctly? Do you really think you’d get more offers if it was priced higher?

Yes a very similar house same layout a few doors down sold for 75k over our list price last month. That one has a bonus screened in porch so we mentally discounted 25k from what we would expect

A screened porch costs $40k bare bones.

It’s a very small one so we thought 25k was reasonable

I’m pricing a small screened porch now. Starts at $40k.

+1. I don’t think the folks saying $20 live in the DC area or have built anything lately.

Agreed. $15K buys you a deck in DC and surrounding area.

-2. Literally just last week we had a slate patio (20x20) installed in our Del Ray backyard for $8400. Our across the street neighbors had a mudroom/ back porch added for 18k.

You people must be the suckers that keep Harry Braswell in business.

I agree. DCUM is filled with suckers that overpay on household improvements all the time. It is crazy. If you spend the time talking to contractors and reading reviews it works out. But don't hire the contractor driving the pricey car and ridiculous prices.

Patios are much much cheaper than decks FYI, since decks are raised structures requiring footings. Patios are ground level and require no foundation

If anything- unless the patio was considerably large (which is not likely since we are talking about del Ray), that poster overpaid for her patio.

Yeah they essentially just laid down stones for a patio, and that cost 8K. A screen in porch requires footings, structure, and wiring as well as the roof and shingles. From their price, it sounds like the foundation would cost 8000 just to begin with.

Footings. lol. A bag of quickcrete and an 8' 6x6 costs $100. Four hundred bucks and a post hole digger gets your your 'foudation'

Slate is about 100x the cost of PT and it isn't just 'laying down some stones' as some other ignorant housewife claimed. Unlike decks, patios require you to grade (expensive- includes heavy machinery), you have to cut the stone, lay a concrete base -in forms you've set- and carefully maintain enough of a slope so rainwater doesn't pool and compromise the patio.

Whoever said decks are cheaper knows absolutely nothing about construction. A 400sqf deck weighs a miniscule fraction of the same in slate. Plus it lasts about 1/4 of the life.

Did it ever dawn on you why slate costs much more than PT? Or why all the multi-million dollar houses have slate patios and not crappy decks?

And a slate deck (20x20) costs $1500 in materials, if you want to play that game.

Also - newsflash - Del Ray is not hilly. If you need heavy machinery to grade for a deck in Del Ray, the word for you would be retarded.

You're so butthurt over a deck that it's cringey. Nice job using a disability as a pejorative as well. You couldn't be a bigger loser if you tried.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Are you sure it’s not priced correctly? Do you really think you’d get more offers if it was priced higher?

Yes a very similar house same layout a few doors down sold for 75k over our list price last month. That one has a bonus screened in porch so we mentally discounted 25k from what we would expect

A screened porch costs $40k bare bones.

It’s a very small one so we thought 25k was reasonable

I’m pricing a small screened porch now. Starts at $40k.

+1. I don’t think the folks saying $20 live in the DC area or have built anything lately.

Agreed. $15K buys you a deck in DC and surrounding area.

-2. Literally just last week we had a slate patio (20x20) installed in our Del Ray backyard for $8400. Our across the street neighbors had a mudroom/ back porch added for 18k.

You people must be the suckers that keep Harry Braswell in business.

I agree. DCUM is filled with suckers that overpay on household improvements all the time. It is crazy. If you spend the time talking to contractors and reading reviews it works out. But don't hire the contractor driving the pricey car and ridiculous prices.

Patios are much much cheaper than decks FYI, since decks are raised structures requiring footings. Patios are ground level and require no foundation

If anything- unless the patio was considerably large (which is not likely since we are talking about del Ray), that poster overpaid for her patio.

Yeah they essentially just laid down stones for a patio, and that cost 8K. A screen in porch requires footings, structure, and wiring as well as the roof and shingles. From their price, it sounds like the foundation would cost 8000 just to begin with.

Footings. lol. A bag of quickcrete and an 8' 6x6 costs $100. Four hundred bucks and a post hole digger gets your your 'foudation'

Slate is about 100x the cost of PT and it isn't just 'laying down some stones' as some other ignorant housewife claimed. Unlike decks, patios require you to grade (expensive- includes heavy machinery), you have to cut the stone, lay a concrete base -in forms you've set- and carefully maintain enough of a slope so rainwater doesn't pool and compromise the patio.

Whoever said decks are cheaper knows absolutely nothing about construction. A 400sqf deck weighs a miniscule fraction of the same in slate. Plus it lasts about 1/4 of the life.

Did it ever dawn on you why slate costs much more than PT? Or why all the multi-million dollar houses have slate patios and not crappy decks?

And a slate deck (20x20) costs $1500 in materials, if you want to play that game.

Also - newsflash - Del Ray is not hilly. If you need heavy machinery to grade for a deck in Del Ray, the word for you would be retarded.

Make up your mind. First you were arguing that there was no way PP got a slate patio for $8400 but now youre claiming the material costs are only $1500 and there's no need for machinery so it would be much cheaper. I wouldn't go around calling other people retarded if I were you. Glass houses and all that...

[Anonymous]

lol. Bye Felicia! I win!

[Anonymous]

Anonymous wrote:

Anonymous wrote:Are you sure it’s not priced correctly? Do you really think you’d get more offers if it was priced higher?

Yes a very similar house same layout a few doors down sold for 75k over our list price last month. That one has a bonus screened in porch so we mentally discounted 25k from what we would expect

Well a screened in porch is worth more than 25k. Their finishes were probably better than yours as well.

Sounds like its priced correctly. Of it were worth more you would have had a bidding war the first weekend.

Your house probably isn't as great as you think it is, and definitely not even close to how police the neighbors is.. Plus with the economy about to really take a battering this might be as good as it gets for awhile.

[Anonymous]

Anonymous wrote:I have seen several houses relisted at higher prices and only one made sense (they did renovations)

https://www.redfin.com/VA/Arlington/2115-Military-Rd-22207/home/11232946

This house just relisted higher. It is beautifully staged but it is small and cramped with low ceilings. We knew the owners prior to the ones selling now.

I think that they are crazy. You are on main street and across from a gas station.

Oh no, maybe this is OPs house. Yikes! That is a horrendous corner to live on. Plus that "travel room"? Pinterest project gone bad. Cheap kitchen reno.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I have seen several houses relisted at higher prices and only one made sense (they did renovations)

https://www.redfin.com/VA/Arlington/2115-Military-Rd-22207/home/11232946

This house just relisted higher. It is beautifully staged but it is small and cramped with low ceilings. We knew the owners prior to the ones selling now.

I think that they are crazy. You are on main street and across from a gas station.

Oh no, maybe this is OPs house. Yikes! That is a horrendous corner to live on. Plus that "travel room"? Pinterest project gone bad. Cheap kitchen reno.

And if this is OPs house the neighbors house on military is nicer than this one and it sold for 802k 2 months ago. 50k less than what this one is now raised to 850k this morning.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I have seen several houses relisted at higher prices and only one made sense (they did renovations)

https://www.redfin.com/VA/Arlington/2115-Military-Rd-22207/home/11232946

This house just relisted higher. It is beautifully staged but it is small and cramped with low ceilings. We knew the owners prior to the ones selling now.

I think that they are crazy. You are on main street and across from a gas station.

Oh no, maybe this is OPs house. Yikes! That is a horrendous corner to live on. Plus that "travel room"? Pinterest project gone bad. Cheap kitchen reno.

I don't think that this is OPs house. OP never said where they are which makes a huge difference. I posted this because we had friends in the house prior to current seller. NOTHING has been done to the house since they purchased it. Our friends did nothing to the house either - so all renovations/changes were three owners (at least) ago. But it is crazy that this person thinks this house is worth 850K when they have not done anything but stage it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have seen several houses relisted at higher prices and only one made sense (they did renovations)

https://www.redfin.com/VA/Arlington/2115-Military-Rd-22207/home/11232946

This house just relisted higher. It is beautifully staged but it is small and cramped with low ceilings. We knew the owners prior to the ones selling now.

I think that they are crazy. You are on main street and across from a gas station.

Oh no, maybe this is OPs house. Yikes! That is a horrendous corner to live on. Plus that "travel room"? Pinterest project gone bad. Cheap kitchen reno.

I don't think that this is OPs house. OP never said where they are which makes a huge difference. I posted this because we had friends in the house prior to current seller. NOTHING has been done to the house since they purchased it. Our friends did nothing to the house either - so all renovations/changes were three owners (at least) ago. But it is crazy that this person thinks this house is worth 850K when they have not done anything but stage it.

I should also add that this one was bought for a good price two years ago at 695K and now they are trying to sell for 850K - pure greed.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have seen several houses relisted at higher prices and only one made sense (they did renovations)

https://www.redfin.com/VA/Arlington/2115-Military-Rd-22207/home/11232946

This house just relisted higher. It is beautifully staged but it is small and cramped with low ceilings. We knew the owners prior to the ones selling now.

I think that they are crazy. You are on main street and across from a gas station.

Oh no, maybe this is OPs house. Yikes! That is a horrendous corner to live on. Plus that "travel room"? Pinterest project gone bad. Cheap kitchen reno.

I don't think that this is OPs house. OP never said where they are which makes a huge difference. I posted this because we had friends in the house prior to current seller. NOTHING has been done to the house since they purchased it. Our friends did nothing to the house either - so all renovations/changes were three owners (at least) ago. But it is crazy that this person thinks this house is worth 850K when they have not done anything but stage it.

I should also add that this one was bought for a good price two years ago at 695K and now they are trying to sell for 850K - pure greed.

How do they justify that price increase in two years? Plus the price raise? I hope people don't fall for this crap...

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Are you sure it’s not priced correctly? Do you really think you’d get more offers if it was priced higher?

Yes a very similar house same layout a few doors down sold for 75k over our list price last month. That one has a bonus screened in porch so we mentally discounted 25k from what we would expect

Well a screened in porch is worth more than 25k. Their finishes were probably better than yours as well.

Sounds like its priced correctly. Of it were worth more you would have had a bidding war the first weekend.

Your house probably isn't as great as you think it is, and definitely not even close to how police the neighbors is.. Plus with the economy about to really take a battering this might be as good as it gets for awhile.

I underwrite appraisals for a living for a lender in DC Metro. Very rare to see an adjustment for screened in porch > $25k. Cost to build is not the same as worth. Decks and porches hardly appraise for cost to build. Very much a quality of life expense and not one to get value from.