Condo pricing, input please?
The bf and I are trying to figure out a good asking price for our condo. We're trying to sell the place without a real estate agent, as they get 6-7% of the sale for commission, so we don't have their input available for pricing the place.
The building was constructed in the late 1960s. Many of the units have never been remodeled or updated. One unit in the building sold last year for $129,000. We know the guy who bought it - he's currently doing a huge remodeling project on the whole place. This implies that the unit wasn't in great shape. There's also a unit currently for sale for $144,000. The website only has pictures of the outside of the building, no pics of the actual unit, which also makes me think that the unit hasn't been remodeled either.
In comparison, a couple of years ago we completely remodeled our unit. New pergo flooring, new carpet, tile in the bathroom and entryway, new kitchen cabinets and granite countertops, new appliances, new granite bathroom vanities, new lighting, and new paint and molding everywhere. Pretty much everything has been revamped or replaced. The place looks fantastic.
So we're trying to figure out how much to ask. The bf would be happy getting $140000, but I'm wondering if we should try for more. The place is great, but the selling market for houses is pretty cold right now. What do you guys think? Should we ask for $150000 with the option of negotiating for less? Or should we ask for more or less?
