My recently sold house is back on the market, 5 months later

[John105]

Probably $700-$800K here depending on actual location.

Why worry? - not yours.

But yes people lie all the time selling everything, including themselves. The world is less honest than it used to be, the more data and modernity and science we have.

Going back to how I never make too many changes to my retirement (lucked out because the trend has been up for a long time), seems my biggest loss as of late was Rivian stock. 75%. When I started out, I was totally coulda/shoulda/woulda. I am not with stocks. But, I have never sold a house before, and I bet once sold, I will keep looking to see if I did it at the right or wrong time....so I see that clinically one should never look back, but as humans, we likely would...

 

[alarmguy]

Description is embellished for sure but partly true about the kitchen and basement 1/2bath can be finished ... "newly" can mean any number of things conveying it is not the original kitchen. Even conveying the electric being updated, except for the year most people would be happy it was updated in the last decade or so. (even thrilled in such an old home)

Really Nice house BTW

 

[earlyre]

Imagine my surprise yesterday when I opened my Zillow "Home Report" email only to find an active listing! I sold the place for $245k on August 25th, and it was listed for sale for $250k on January 22nd.

The information in the listing is HILARIOUS to me, as it's chock full of blatant lies:

"Kitchen is newly remodeled" - The kitchen hasn't been touched since 2013, right before I bought the place.

"Electric updated late 2023" - No, a tiny section of knob and tube was replaced in the attic. The electrical was updated in 2013.

"Electric car charger" - No, there's a NEMA 240v OUTLET in the garage that CAN be used with an EVSE

"1/2 bath in lower level ready for finishing" - There's nothing more than a free standing toilet and sink in the unfinished basement.

Here's the listing, in case anyone is curious:

Zillow - Home for Sale

I don't see the new owner getting $250k. Frankly, I think she overpaid @ $245k when she bought it from me, but the check cleared and that's all that matters.

A buddy's Mom sold her house a few years ago... flippers lipped it... both listings had some Whoppers, with the same pics, and same "alternate facts"
the one that still stands out to me, was the water heater. both listings claimed it as a gas water heater....
there was no gas line anywhere near that thing.... water lines, and some Aluminum shielded Romex. no gas... there was a gas furnace in the crawlspace...

then again... when my parents sold the house I grew up in, the Realtor called the Pine bookcases, and woodwork in the house Oak.... the only photos I have are from a recent sale... after the folks my parents sold it to abandoned it, and it got Flipped.

 

[John105]

A buddy's Mom sold her house a few years ago... flippers lipped it... both listings had some Whoppers, with the same pics, and same "alternate facts"
the one that still stands out to me, was the water heater. both listings claimed it as a gas water heater....
there was no gas line anywhere near that thing.... water lines, and some Aluminum shielded Romex. no gas... there was a gas furnace in the crawlspace...

then again... when my parents sold the house I grew up in, the Realtor called the Pine bookcases, and woodwork in the house Oak.... the only photos I have are from a recent sale... after the folks my parents sold it to abandoned it, and it got Flipped.

My bro and sis in law bought a flipper. Not sure why because my buddy did that for a while and I saw his shoddy and concealed defects. Now, it’s not just about repairing properly what needed repairs in the first place, but additional expense to get back to the original state. My .02 I’m not an expert just stating what I believe I’ve seen…

 

[burbguy82]

Imagine my surprise yesterday when I opened my Zillow "Home Report" email only to find an active listing! I sold the place for $245k on August 25th, and it was listed for sale for $250k on January 22nd.

The information in the listing is HILARIOUS to me, as it's chock full of blatant lies:

"Kitchen is newly remodeled" - The kitchen hasn't been touched since 2013, right before I bought the place.

"Electric updated late 2023" - No, a tiny section of knob and tube was replaced in the attic. The electrical was updated in 2013.

"Electric car charger" - No, there's a NEMA 240v OUTLET in the garage that CAN be used with an EVSE

"1/2 bath in lower level ready for finishing" - There's nothing more than a free standing toilet and sink in the unfinished basement.

Here's the listing, in case anyone is curious:

Zillow - Home for Sale

I don't see the new owner getting $250k. Frankly, I think she overpaid @ $245k when she bought it from me, but the check cleared and that's all that matters.

so you think that the current owner is wrong for selling it at $250, but all that matters is that you sold it for $245?

 

[earlyre]

My bro and sis in law bought a flipper. Not sure why because my buddy did that for a while and I saw his shoddy and concealed defects. Now, it’s not just about repairing properly what needed repairs in the first place, but additional expense to get back to the original state. My .02 I’m not an expert just stating what I believe I’ve seen…

oh.. no doubt...
but for a bit of comparison, I'll give you 2 similar shots of my old house...
after it was abandoned, and when they put it up for sale...

 

[Hall]

so you think that the current owner is wrong for selling it at $250, but all that matters is that you sold it for $245?

The crazy demand for real estate seems to be calming down now compared to 2-3 years ago when it was at it's peak but the buyer is probably just trying to catch the tail-end of it. There are (2) houses on our street for sale and have been listed for ~3 weeks or so. 3 years ago, they would have been bought before being listed on the market.

 

[Hall]

I just heard back from my agent: I guess the woman's mother passed shortly after purchase and she decided not to stay in the area.

I'm curious about this situation with your (former) agent. If a buyer contacts him/her about purchasing it and this agent knows there is false information being claimed, what do they do ? 1) They could rebut the claims knowing they're untrue in order to get a lower price for their buyer but 2) they don't want to go too low as it impacts their commission. Kinda an ethical dilemma for them, huh ?

 

[Hall]

"Kitchen is newly remodeled" - The kitchen hasn't been touched since 2013, right before I bought the place.

"Electric updated late 2023" - No, a tiny section of knob and tube was replaced in the attic. The electrical was updated in 2013.

"Electric car charger" - No, there's a NEMA 240v OUTLET in the garage that CAN be used with an EVSE

"1/2 bath in lower level ready for finishing" - There's nothing more than a free standing toilet and sink in the unfinished basement.

Those are all kinda grey area-ish things....

That kitchen is newly remodeled and it's certainly not the original kitchen. It's very modern and doesn't actually look even 10 years old.

Electric updated.... what does that mean ? They replaced regular outlets and switches with Decora ones ? Could...

240v outlet with the suitable adapter for whatever EV model someone might own is accurate. In all seriousness, what is there is 95% of the job.

1/2 bath and "ready", with "ready" being the operative word.

I mean, the listing agent did his/her job !

 

[Gus_Mahn]

Looks like a nice house. The schools seem pretty weak. Even though I'm well past school age children, any future home or second retirement home will only be in an area with good or better school. To me the upfront value will be paid back in terms of future value and ease of sale.

 

[loneryder]

Interesting, the homes across the street from us, look like this home, and cost more. They were built in the 1920's while ours 1952.

I always go straight to the property tax and schools. I do have a 10 y.o. but even if I didn't, I still want lowest taxes for the best schools.

It is almost always the case like here, the taxes are lower, but the schools seem to be unusable?

My buddy introduced me to another concept. What do I care how the schools are (FLA) when my kids go to private schools, I want lowest overall taxes regardless. I just tend to look at it marginally, not overall. Part of me says what is the local township even doing, where the schools don't pass muster...with all the money they collect is what I mean...

Best thing you ever did is sending your kids to private school. People don’t realize how bad the schools have gotten everywhere.

 

[Owen Lucas]

Looks like the new sellers are losing money on the deal. After closing and what ever small amount of money they invested into "updates" will they even break even?

 

[14Accent]

so you think that the current owner is wrong for selling it at $250, but all that matters is that you sold it for $245?

Where did I say that? They can ask whatever they want for it. I listed it at $230k and took the $245k, no inspection offer the second she offered it.

If anyone is curious, the 2024 property taxes were going to be somewhere in the neighborhood of $4,500. They were $1,600 when I moved in in 2014.

 

[tbm5690]

Looks like the new sellers are losing money on the deal. After closing and what ever small amount of money they invested into "updates" will they even break even?

They will be lucky to break even. No one should expect to not lose money selling less than a year later unless you put money in on improvements or it's a really hot market. The fact that it listed only $5k more than what it was bought for reveals that the seller knows they are losing out on the deal.

 

[SC Maintenance]

I am betting it wont. They dont make them like they used to. Some of the older homes have enough lumber in them to build a whole new sub division today....

Mine will not be. It was built in 2014. I guess I won't care by then.

 

[tbm5690]

That kitchen is newly remodeled and it's certainly not the original kitchen. It's very modern and doesn't actually look even 10 years old.

I would agree with the OP that 11 years ago is not "newly" remodeled. Remodeled yes, it looks good, appears to be in good condition, and was done along trends that were in 10 years ago but it's not a new remodel by any stretch. So, the style does look 10 years old...not a bad thing IMO, but what's in has changed.

 

[ecotourist]

.. I have never sold a house before, and I bet once sold, I will keep looking to see if I did it at the right or wrong time....so I see that clinically one should never look back, but as humans, we likely would...

There is a very strong likelihood that over time a property will increase in value. There will be ups and downs but over time they mostly increase.

My wife's uncle bought a small house in Vancouver near the university in 1947 for $2350. That house is long gone. But in the most recent assessment (designed to accurately reflect what the property would sell for) the land alone is valued at $2,230,000. That's right, the value increased by a multiple of almost 1,000 in 77 years (without even considering the value of the house).

That's just inflation you say. Not really, the present value of $2350 in 1947 is about $33,500.

And he might have done even better if he had bought Berkshire Hathaway stock as soon as it became available.

 

[Hall]

11 years ago is not "newly" remodeled

Point is, prospective buyers have no idea when it was remodeled and it clearly was. Is it lying ? Not really... Is it embellishing and stretching the truth ? Yeah, probably....

Also, what's the definition of "new"(ly) ?

 

[tbm5690]

Point is, prospective buyers have no idea when it was remodeled and it clearly was. Is it lying ? Not really... Is it embellishing and stretching the truth ? Yeah, probably....

Also, what's the definition of "new"(ly) ?

Agreed. I'd call "newly" within the past 2 years, but of course everyone's definition is different. Most kitchen remodels include new appliances, so I'd check build dates on those and make an assumption on remodel date...but I'm not your typical buyer

 

[burbguy82]

Where did I say that? They can ask whatever they want for it. I listed it at $230k and took the $245k, no inspection offer the second she offered it.

If anyone is curious, the 2024 property taxes were going to be somewhere in the neighborhood of $4,500. They were $1,600 when I moved in in 2014.

i was just trying to understand your post